"2023 Saw A Clear Shift In Priorities With A Focus On Employee Welfare"

Could you please take us down memory lane and tell our readers, what motivated you to pursue a career in the HR domain?

Understanding the human psyche and what role it plays in deliverables are very exciting to understand and work on. During my Economics graduation days at SRCC, I got to know the human development policies at global level and at Indian economy level. Hence I consciously decided to pursue a Master's in Human Resources. It seemed like a logical next step—a chance to refine and develop my understanding about the fundamentals of human resources and their impact at the organizational level.

This choice was made consciously to match my sincere desire to understand and support people with a profession that would enable me to significantly impact both the success of an organisation and the lives of its employees rather than merely pursuing a degree. 

In your role as the Head of HR at IIFL Home Finance, how have you demonstrated strategic leadership in driving HR initiatives that align with the overall organizational goals and vision? Can you provide an example of a specific initiative and its impact on the company?"

Our strategic HR leadership at IIFL HFC is focused on aligning our HR strategies with the overall goals of the business. We provide our team members with various helpful tolls and measures to empower them and improve their daily performance. Our team receives complete support through specially developed workshops, customised training sessions, and individualised one-on-one interventions.

We recently arranged for Microsoft professionals to lead specialised seminars to maximise their daily efficiency. These workshops provided our staff with useful time-saving shortcuts by emphasising the effective use of MS Excel and Power BI. We intended to provide our team with practical tools and methods to carry out their responsibilities more successfully and significantly contribute to the company's development. This strategic strategy fosters an agile and proficient workforce that is prepared to face changing challenges in the financial landscape while also improving individual capabilities in line with our objective.

You've been focused on improving workplace culture and promoting diversity and inclusion. How have you fostered a positive and inclusive culture at IIFL Home Finance, and what strategies have you implemented to ensure diversity and inclusion are integral parts of the organizational fabric?"

Building a welcoming and helpful atmosphere is the cornerstone of IIFL HFC. We've consciously tried to strategically integrate diversity and inclusion into every aspect of our business operations. Our dedication starts with extensive instruction and training sessions aimed at creating a bias-free atmosphere, supporting diversity, and cultivating inclusivity. In addition to these efforts, recruitment procedures are specifically designed to draw in talent from various backgrounds, guaranteeing that each applicant has an equal chance to succeed. Furthermore, we have demonstrated our commitment to meeting the different requirements of our workforce through the proactive implementation of inclusive policies.

We recently launched a policy tailored for returning mothers at IIFL. This policy allows them to arrive one hour later and leave one hour earlier, ensuring they have additional quality time to spend with their newborns. This initiative embodies our dedication to creating a workplace that not only acknowledges diverse needs but actively supports and accommodates them, further solidifying our stance on nurturing an inclusive and supportive culture at IIFL Home Finance.

Employee wellness and safety are crucial aspects of HR. Can you share some initiatives you've spearheaded to enhance employee well-being and safety within the organization? How do you measure the success and effectiveness of such programs?

At IIFL HFC, we've made employee safety and well-being a top priority by using a variety of strategies. Our all-inclusive wellness programs cover many topics, such as stress reduction, mental health, and physical health. We've introduced yoga sessions and mindfulness workshops and ensured access to various mental health resources to support our employees' holistic wellness.

In addition, we are dedicated to providing our employees with comprehensive health insurance coverage and other perks that cater to their medical needs. We have implemented "YourDost," an Employee Assistance Programme (EAP) that provides private counselling services and assistance, as part of our dedication to helping our staff. Through this programme, employees can receive expert support for various personal or work-related issues, ensuring they have the tools to deal with challenges head-on. We also give input from employees a lot of importance to ensure our efforts are successful. For example, our feedback system, "Amber," consists of recurring questionnaires designed to measure worker satisfaction and involvement concerning any issues. We can continuously improve and modify our programmes to better suit the demands of our cherished employees thanks to this feedback loop.

HR involves both strategic planning and day-to-day tactical execution. How do you strike a balance between these two aspects in your role? Can you share an example of a situation where you successfully managed this balance for the benefit of the organization?"

Balancing strategic planning and day-to-day execution in HR is a crucial aspect of my role, one that I navigate by actively engaging in “Hear to hear you” sessions that helps me stay in touch with the on ground employees. The feedback provided on the organization culture, processes, polices is taken into consideration and instant changes are deployed to make sure employees voices are heard at each stage. It helps me align HR strategies with the broader organisational goals. I participate in these discussions to understand the company's vision, anticipate future needs, and contribute HR insights that support these objectives

Professional development is essential for employees. How do you approach and implement programs for continuous learning and skill development within your HR strategy? How do you ensure employees are equipped with the necessary skills for the current and future needs of the organization?

The cornerstones of our HR approach are learning and skill development. For staff, we provide individualised learning programs. A variety of tools, including seminars, online courses, mentorship programmes, and certificates customised to their particular need, are included in these pathways. Our strategy revolves around fostering a culture that appreciates education. We strongly emphasise abilities essential for tomorrow's demands, anticipating future organisational needs. Among our top priorities are technological know-how, inventiveness, and flexibility. Our training programmes are carefully crafted to provide staff members with these changing skills so they'll always be competent and prepared for new challenges. Collaborative learning is another essential component of our strategy. Through specialised internal platforms, peer-to-peer learning programmes, and cross-functional projects, we enable knowledge sharing among staff members, creating an atmosphere that is conducive to both individual and group development.

What according to you is the biggest development in the corporate and HR landscape in 2023? 

A dramatic change in the business and HR landscape occurred in 2023, characterised by a strong emphasis on the well-being of employees, a greater focus on diversity and inclusion, rapid adoption of technology, and a substantial shift in work practices. 

The quick uptake of HR technology was one of the most significant changes. Companies realised it could completely transform a range of HR tasks. Companies have significantly invested in state-of-the-art HR digital solutions to improve employee engagement, speed up hiring procedures, and remotely monitor well-being. These included cutting-edge AI-powered analytics, virtual collaboration tools, and employee experience platforms. These developments in technology-enabled HR departments to personalise employee experiences, automate repetitive activities, and make data-driven, well-informed decisions. HR specialists were free to concentrate more on strategic projects as a result.

Simultaneously, there was a remarkable shift in emphasis towards the well-being and well-being of the employees. Businesses realised how important it was to provide comprehensive wellness programmes, flexible work schedules, and mental health support. HR departments realised that workers' well-being directly affects productivity and the performance of the organisation. Therefore, they adopted proactive steps to prevent burnout, promote work-life balance, and guarantee inclusivity and diversity in remote and hybrid work environments.

The roles played by HR professionals changed significantly during this period of development. They developed into change agents who pushed organisational culture changes. Their priorities shifted to putting employee-centered policies into action, using technology to create flexible and cohesive work environments, and supporting initiatives that promote inclusivity and diversity.

In the end, 2023 saw the rise of the hybrid work paradigm, in which combining in-person and remote labour became commonplace—this year also brought about a technology revolution in HR practices, focusing on integrating creative solutions to improve HR features. A clear shift in priorities was also observed, with a stronger focus on employee welfare, indicating a new age in the business and HR domains.

What according to you is the one trend in your sector that will redefine the HR function in 2024?

An emerging trend that could revolutionize the HR function in 2024 is the growing incorporation of AI-powered technologies and analytics into HR procedures. Artificial intelligence's ongoing development and improvement will have a significant influence on HR operations, changing many aspects of talent management, employee engagement, and organizational decision-making. HR practitioners have a wealth of opportunities thanks to AI-powered solutions. A significant redesign of the recruitment process will take place, utilizing AI algorithms to evaluate resumes, expedite the sourcing of candidates, and forecast candidate success through data-driven insights. This will facilitate hiring procedures, enhance applicant matching, and encourage more inclusive hiring methods.

AI-driven analytics will also be essential for managing and developing personnel. With the aid of these tools, HR will be able to detect learning trends, run predictive analysis on skill gaps, and tailor staff training initiatives. HR may proactively address skill gaps, customise professional development programmes, and make sure staff members have the competencies needed for both current and future organisational demands by utilising data analytics. AI-powered solutions will also revolutionize the employee experience. AI chatbots and sentiment analysis in enhanced employee engagement systems will enable personalised interactions and provide employees with timely support and guidance. In addition to answering questions, these technologies will offer insightful data about employee attitudes, enabling HR to take proactive steps to improve well-being and satisfaction.