HR Leaders Can Align Sustainability With Business Objectives
As we navigate through the challenges and opportunities of 2024, it is both prudent and exciting for HR professionals to reflect on the evolving landscape and plan for the trends shaping our industry. The journey ahead will certainly have both challenges and opportunities and we will see this reflected in the workplace as well.
Embracing Change in the HR Landscape
Significant trends such as remote and hybrid work arrangements, workplace demographics, and climate change, are impacting HR strategies and practices. For instance, AI has rapidly become a part of the cultural and business conversations, so adopting a skills-first approach will be crucial in 2024. HR can help organizations navigate this by providing policies, guidance and training to ensure the AI technology is used appropriately and ethically.
At SKF, our purpose – ‘Together, we re-imagine rotation for a better tomorrow’, serve as our compass and drives our initiatives in this journey. Our values – Collaboration, Curiosity, Courage and Care, are foundational to everything we do and exemplify the way we work. We believe, in 2024, the integration of technology into HR processes will take precedence for enhancing efficiency and ensuring a seamless employee experience. For example, embracing virtual and augmented reality in training programs is one such avenue we are exploring to motivate ongoing learning behaviours.
Additionally, in the year ahead, navigating the changing demographics will demand a nuanced understanding of employee well-being and tailored initiatives to support their evolving needs. Our 'Living Blue' initiative that aims to foster psychological safety at the workplace will allow us to have honest conversations with employees about what's valuable to them, and create a workplace where employees feel valued and heard.
Sector-Specific Insights: Tailoring Strategies for Success
While overarching trends provide a general roadmap, in the manufacturing sector, the emphasis on sustainability will remain paramount. Our commitment to achieving net zero by 2030 aligns with the broader industry shift towards clean technologies. In our roles, we must continue to upskill our workforce to address these new demands and equally focus on championing initiatives that not only address industry-wide challenges but also contribute to sustainability. HR leaders can help prepare for a future workplace that embraces environmental, social and governance practices by aligning sustainability with business objectives and making it part of the workplace culture.
Recommendations and best practices
With the speed of change in the world, the HR leader’s playbook has shifted, and there are a lot of areas that require immediate focus. However, learning and development takes precedence for building competitive advantage.
Our people focused 'LeadX' initiative stands out as a prime example. By fostering excellence in leadership and succession planning, we equip our teams with the multidimensional experience needed to thrive in a rapidly changing world. This cross-cultural, cross-functional, and cross-industry exposures, ensures that our leaders are not only resilient but also capable of driving innovation across diverse landscapes.
Importantly, HR can pave the way for organizations to take a holistic approach to promoting diversity, equity and inclusion at the workplace. This goes beyond training and focuses on eliminating salary and promotion disparities and forces systemic change.
Our efforts have helped us progress towards increasing gender diversity in leadership roles. Our 'Women's Network' initiative, for developing women employees has helped in fostering an inclusive workplace culture. Similarly, our 'My Manager Cares,' initiative focused on creating effective leaders and nurturing a winning culture, will continue to be a cornerstone in building successful teams and fostering a high-performance culture.
To manage the changing environment and plan for more stability, HR leaders should take the lead in fostering a culture of continuous learning and development, while caring for the mental health of employees and building in diversity and inclusivity as well as sharpening the focus on how best to incorporate artificial intelligence into the mix.
Going forward, our commitment to purpose and values will not only steer our HR strategies but also enable us to create a workplace that goes beyond excellence, fostering a community where every individual thrives.
