In Conversation with Anuradha Razdan, Executive Director HR, HUL & CHRO, Unilever South Asia
In your experience, how should the role of business schools evolve to keep pace with the rapid advancements in technology and AI?
India is the second fastest growing digital economy. It’s anticipated to grow from $200 Billion in 2022 to $1 Trillion in 2025 and is digitising faster than many of the more mature economies of the world. Data-centric innovation and digitalisation will catalyse India’s growth. Technology now has become a must-have skill for all – whether it is Gen AI, ML, Deep tech or digital. The World economic forum reports that 25% of the jobs will be reshaped, either disappearing or getting morphed into something else by technology. 45% of the current skill set will change. In today's dynamic business landscape, the role of business schools is evolving rapidly to keep pace with the rapid advancements in technology and AI. I believe that business schools play a crucial role in preparing the next generation of leaders to thrive in this ever-changing environment.
1) Business schools need to incorporate a strong emphasis on digital literacy and technological fluency into their curriculum. This includes teaching students not only the theoretical concepts but also practical applications of emerging technologies like artificial intelligence, machine learning, data analytics, and blockchain. Students must have hands-on experience with these tools, as they are increasingly becoming integral to decision-making in the business world. This can also be achieved by enabling partnerships with the industry to provide live exposure on real world business challenges to the students.
2). It is crucial to understand that Technology and AI are not isolated from other business functions, and students should be able to understand how these advancements intersect with areas such as marketing, finance, operations, and HR.
3) To keep pace with the rapid changes in the business world and ongoing tech transformation, business schools should foster a culture of continuous learning. This means promoting lifelong learning and adaptability as core values. Business leaders need to be prepared to acquire new skills and knowledge throughout their careers to remain relevant.
4) Additionally, business schools should focus on ethical and responsible AI education. As AI becomes more integrated into business processes, future leaders must understand the ethical implications, biases, and social impact of AI technologies. This will help them make informed decisions that align with both business objectives and societal values. Skills and Competencies in High Demand:
As a leader in the industry, what specific skills and competencies do you consider critical when hiring graduates from B-Schools, especially in light of the rise of tech and AI?
We are in the future of work with Skills as the new currency. Organizations are deconstructing jobs into skills and the value of talent is defined by the skills they bring to the table. At HUL, our standards of leadership (SOL) embody the leadership mindsets and behaviours that we expect from our employees & hence form the bedrock of what we seek in candidates. The key SOL elements are growth mindset, consumer & customer focus, bias for action, accountability & responsibility, and the ability to be talent catalysts. With a legacy of building 500+ CXOs for India and for the world, HUL is known to be a “Leadership factory”. Over the years, we have set up robust leadership training infrastructure and a lifelong learning culture to embed & strengthen these standards of leadership amongst our talent pool.
Apart from the SOLs which are core competencies, we’re constantly on the lookout for differentiators & new age skills that add to our diversity and bring an edge to our business - Data science, Cognitive flexibility, Digital acumen, creative problem solving to name a few.
We’ve also been finding the right balance between buying vs building skills and constantly find avenues to invest in building talent for niche business opportunities. To share an example - HUL recently announced ‘digital commerce’ as a new UFLP specialisation in addition to conventional Customer Development/Marketing careers. This was a first by any FMCG company. Selection was done through an online masterclass and a rigorous simulation which resulted in a ‘Digital Readiness Index’ (DRI) for top 250 students across the country and was used to pick the top 8 digital commerce trainees as an exclusive highly aspirational talent pool. We have also developed an extended digital ecosystem of 800+ talent with niche data/digital skills through 4 industry-first partnerships – (1) ‘Digi pivot’ in partnership with Google and ISB to upskill women on digital marketing (2) Alt Uni Program with InsideIIM on digital marketing and (3) Collaboration with Upgrad & IIT Bangalore for Data Science (4) Partnership with DigiAccel on Digital Marketing. Through these partnerships, we have been able to onboard 18 people across workstreams in HUL. Another enduring example of building talent has been our iconic management trainee program – the Unilever Future Leaders programme (UFLP) with a legacy of 80+ years.
Driven by the ‘leaders build leaders’ philosophy; we have sustained an environment where people are empowered with big responsibilities early in their career and are able to constantly experiment with the right guidance and support. To create leaders with a strong business foundation and clarity of purpose to contribute to our people and our communities, the program curriculum now includes a rural stint, international exposure, and stint rotation through the value chain. At the crux of the heightened war of talent lies ever evolving skills and both organizations and employees need to display learning agility to be ahead of the curve.
How has the changing business landscape impacted the skillset you seek in potential employees, and how do you think B-Schools can address these demands?
The FMCG landscape is rapidly shifting with evolving consumer and shopper preferences, a consolidating yet volatile customer ecosystem, and an ongoing channel fragmentation. FMCG sector will see a shift on the channels of prominence – by 2030 General Trade contribution will shift from 70% to 55% in 2030, making it imperative for organizations to develop a digital ecosystem and invest on acquiring and building digital capabilities. We are now in the 4th Industrial revolution and smart manufacturing will be the future to help improve productivity, energy efficiency and sustainability to create intelligent factories of tomorrow. With the ongoing technological transformation, below are the core skills that have become fundamental to our selection process
1. Digital – In an increasingly digital world, having a strong foundation in digital literacy is essential, to leverage technology for advantage in unique and innovative ways and carefully analysing data. To embed digital literacy in our early careers at HUL, we have curated digital exposures and an exclusive and aspirational Digital Commerce stream within our Unilever Future Leaders Program (UFLP). B-Schools can address this demand by integrating courses that focus on digital literacy, data analytics, and emerging technologies into their curricula. They can also look at introducing STEM embedded MBA programs that bring the best of both worlds in the form of new-age course in the space of Management Science, Business Analytics, Statistics and Product Management, People Analytics, etc.
2. Data-driven decision-making - With the abundance of data, the ability to derive meaningful insights is paramount. We seek employees who can make informed decisions based on data analysis. B-Schools can contribute by emphasizing quantitative skills, statistical analysis, and decision-making frameworks in their programs. Practical application of data analysis through projects and case studies can further enhance this skill.
3. Social responsibility and Sustainability - The changing landscape places a heightened emphasis on corporate social responsibility and sustainability. Potential employees should be aware of the ethical implications of business decisions and demonstrate a commitment to sustainable practices. B-Schools can address this demand by integrating courses on ESG, ethics and corporate social responsibility into their curricula.
4. Effective Communication: As business becomes more global and interconnected, effective communication is crucial. We value employees who can articulate ideas clearly, collaborate with diverse teams, and engage stakeholders. B-Schools can nurture effective communication skills through communication workshops, presentation exercises, and opportunities for public speaking.
5. Creative Thinking – Innovation is one of the most important drivers of economic growth, by leading to higher productivity, meaning that the same input generates a greater output. To build this ecosystem of innovation it is required to have talent with creative thinking. Creative thinking is all about developing innovative ideas to build your consumer base. Along with the above functional skillsets, we at HUL also believe that resilience and leading through crisis is a necessary muscle to build. And for us as leaders, it is very important to build capabilities and upskill our workforce ahead of the business transformation. Strategies for Collaboration:
What are your thoughts on how B-Schools can foster effective collaborations with industry players to ensure graduates are well-prepared for the job market?
With the next decade poised to be the India growth story there is a heightened need for the youth of our country to become future ready. It’s imperative that we visualise the skills and competencies architecture and prioritise the need to enable MBA graduates meet the challenge of today and tomorrow. B-schools hence should invest time to restructure, realign and better adapt to the rate and scope of change. Curriculum reviews need to happen more often and with higher rate of change, to factor the current and emerging world. I see 2 key areas of collaborations between industry and academia:
(1) There needs to be a definite shift in teaching pedagogy to offer students higher industry interface and practical application-based assignments. Classroom learning needs to be complemented with more hands-on experience via industry-led live projects, internships, innovation funding etc.
Establishing industry advisory boards comprised of experienced professionals can help B-Schools align their programs with current industry needs. These boards can provide guidance on curriculum development, ensuring that it remains relevant and up-to-date.
(2) Bringing the outside–in: Colleges need to engage industry leaders in shaping their talent via mentorship programs, guest seminar sessions, connects with Alumni, interview coaching, case competitions with students getting face time with senior leaders & building networks even before they join the industry. A good example of this is the recent campus activation that HUL did across our marquee campuses – Unilever Diaries Live, where we brought together our leadership sessions from our CXO’s, chats with career influencers, our signature case study competitions, and some fun contests to deliver a one of its kind experiences for students. Soft Skills and Emotional Intelligence:
In today's tech-driven world, the importance of soft skills and emotional intelligence is growing. How do you believe B-Schools can help students strike the right balance between technical knowledge and these crucial interpersonal skills?
Leadership in a boundaryless world is less about formal authority and more about use of insight, personal accountability, connection to values, and action. Success in the future will be driven as much by attitude and outlook as it will be by functional skills and expertise. The new future of work requires organizations to pivot their thinking and talent strategy around both hardcore technical skills as well human skills. Some of these soft skills that are gaining prominence are:
1. Resilience- Digital transformation requires resilience to accommodate rapid transformation and to nimbly adapt or pivot in response to changing patterns in a dynamic business environment. Seeing challenges as opportunities to learn and developing the capacity to emerge stronger from failure.
2. Leadership - Research suggests that current times of disruption call for a new type of leadership, where leaders can provide support and challenge at the same time to their teams. It is not one or the other, we need leaders to do both. This means that we need our leaders to activate their inner games to lead with high support and high challenge.
3. Diversity and inclusion mindset – The pace of technological transformation needs to be complimented with diversity of thought and experience. Creating an environment where diversity can flourish allows organizations in the digital economy to be more innovative.
4. Adopting a growth mindset – Technology constantly keep updating itself and it is important for organizations to unlearn-learn-relearn at the same pace. Leaders can promote a growth mindset within their teams by encouraging continuous learning, embracing challenges, and providing constructive feedback. By fostering a culture of continuous improvement, leaders can inspire individuals to strive for their personal and professional growth.
Emotional intelligence – With the changing employer-employee contract, the employee aspirations and expectations from the workplace have evolved. Elevating employee emotional intelligence and opting for an enabling workplace has the potential to take a business to new heights. Emotional intelligence refers to a person's ability to identify, understand, and manage their own emotions, as well as the emotions of others. This essential workplace skill can lead to better communication, collaboration, and teamwork. B-Schools have a pivotal role to play in preparing students to strike the right balance between technical expertise and interpersonal skills. The curriculum in B-schools can be tailored to integrate functional and soft skills development and place equal emphasis on areas like emotional intelligence, leadership, and resilience as they do on marketing, sales, and financial acumen. All of this should be complemented with experiential learning experiences with live case studies, group projects and leadership development programs. Colleges should also create a coaching and mentoring environment to enable students to receive personalized guidance on their soft skills development.
