HR In The Year Of Uncertainties And Revolutions
The last decade brought an avalanche of change to the HR industry. As the pandemic has changed the paradigm of life and work for both employers and employees and India Inc has entered this year with learnings, new ambitions and goals to achieve. Looking on the brighter side of things, it has positioned the HR function at the forefront as a strategic partner in driving a company’s resilience, core values, employee wellness, and also as a catalyst to define people’s experience and capabilities for a hybrid workforce.
As technology and regulations continue to evolve, HR teams will get leaner, generalist roles will be across four major areas: Employer Brand and Culture, Digital and Analytics, Learning and Change, and Reporting and Compliance. Mohith Mohan, Vice President - Head of HR & Corporate Operations, Lowe’s India expresses, “Hybrid work environments are here to stay, and people are returning to work, whether in person or pixels. The metaverse might be what we need for the future of a better associate experience. I believe it will, undoubtedly, become more immersive and bring the real and digital world closer. ”
Every single sector is focusing on creating immersive experiences which clearly outline the importance of building and honing digital transformation skills to have a job-ready workforce and the People function is right at the centre of this. Now, more than ever, it is imperative for HR leaders to be more nimble, proactive, digitally innovative, change savvy, collaborative and connected to employee pulse to bring in the best practices that support the business.
“HR has always been important, but in this new world of flexible work and with new opportunities and challenges, there is an opening in front of us where, professionally, [HR] has to define and develop new skills and processes to optimize what is expected of them—and that’s to make sure the human capital of a corporation is seriously engaged and inspired and believing. It’s productive to feel joy. We need to find ways to make sure that is happening,“ believes Vicky Jain, Founder, uKnowva. To navigate these changes, HR departments are looking for innovative solutions that will lead to major transformations and competitive trend-setting in HR
1. HR Analytics and Machine Learning Will Re-Architect Daily HR and Payroll
While many HR and technology teams have been embedding robotic process automation and basic chatbots, the next leap will be rearchitecting work to integrate analytics and machine learning that can truly enhance the flow of work and elevate the roles of humans.
2. Real-time market analytics & integrated tech stacks
A trend we’re witnessing is using real-time market analytics and integrated tech stacks to predict talent pool behaviour and build talent pipelines in advance of need. AI and Machine Learning will continue to grow in the HRTech market because of their ability to digest such large volumes of data--not just one from a single platform, but all the platforms involved in the process.
3. Learning and development - Performance, learning, and development are beginning to blend into the same process, Ai-enabled intelligent workflows and analytics offered in HR innovation. Modern L&D platforms will also help to create a digital, tech-savvy workforce thanks to innovative training platforms.
4. HR automation is an indispensable need for the present. It is imperative for organisations to find the right HRMS with the required set of tools and functionalities to support an organization’s HR processes such as payroll automation, workflow automation, performance management, recruitment & onboarding management, benefits, employee data, compensation management, employees happiness & wellness management and timesheets.
“The pandemic has brought forth both numerous challenges and many opportunities. For an HR leader, 2020 was the year of successful adaptation to complex & volatile change and learning new ways of working. 2021 has been both the ‘year of the employee’ and a ‘year of continued successful & innovative evolution’, a trend that will continue in 2022 as well,” Rajesh Rai, Vice President – People Team and Head-HR, India, GlobalLogic sums up.
While speaking on his focus areas for talent development, Harshvendra Soin, Global Chief People Officer & Head – Marketing, Tech Mahindra, said, “Digital-first business model has acted as a survival kit for enterprises during the pandemic. Additionally, hiring across all levels, especially at ‘the bottom of the pyramid’, to increase the tech quotient of the firm and keep our talent pool brimming with new-age technologies, has diversified our talent pool, and opened new doors of innovative thinking for us. Going forward, I foresee this hiring momentum to continue.”
The pandemic has accelerated a digitally-enabled world with more data-led, technologically capable organisations leveraging huge volumes of data, machine learning, AI etc. Not just that, people with these skillsets can now move seamlessly between industries such as consulting, retail, tech etc. In 2022, leaders expect the strong economic momentum to continue and demand will go up significantly for these particular skill sets in employees.
