HRs Role In Organisational Growth & National Economy

“As our country's economy is booming, the government aims to make it a three trillion-dollar economy next year. Each state is also working hard to reach a trillion-dollar milestone. The economy is doing even better than expected and companies are making big plans to become global leaders. However, a significant challenge we face is the need for a skilled workforce,” said C Jayakumar, Executive Vice President & Head of Corporate HR (CHRO) at Larsen & Toubro in his keynote address at the BW People Nurturing Talent For Future Conclave. 

At this crucial juncture, Jayakumar pointed out that importance of HRs (human resources) role in hiring, training and developing talent. He believes that HR is not only vital for organisational growth but also for the overall economic progress of the country. 

Even with advancements in artificial intelligence (AI) and technology, he points out that the workforce remains the primary driving force behind any organisation's success.

Jayakumar highlights the importance of attracting and retaining young talent, especially from Generation Z, who are sensitive and require motivation. To achieve this, he suggests implementing training programmes, analysing performance and rewarding talent as essential strategies.

He argues that HR should provide training for all age groups in the workforce, tailoring it to each person's role within the organisation. Based on performance, he recommends promoting productive individuals to leadership positions.

Jayakumar stressing on importance of each employee in an organisation stated, "There are no organisations without people." He said HR plays a crucial role in creating an environment conducive to the growth of talent.

In response to HR professionals becoming CEOs, Jayakumar believes that the lines between roles are becoming blurred and there is potential for HR to take on leadership positions within organisations.