In Conversation With Arti Agarwal, Head-Human Resources, Tata Asset Management

Can you describe your journey in the HR domain over the past 16 years and highlight key milestones or experiences that have shaped your career?

I started my HR journey as a Management trainee at Essar Group as part of the Corporate HR team in 2007. The conglomerate was in a growth phase, and we implemented the HR policies and practices from scratch which gave us a well-rounded exposure for the function. The culture of the company taught me the importance of work relationships early on in my career. Being the youngest HR Head for the Corporate and the International team along with working with the promotor family led to many teachable moments in my professional career. 

In 2018, I took on the role of Director of HR for A.W. Faber-Castell, India, where I also took charge of Corporate Communications and PR. This allowed me to further expand my skill set and contribute to the organization's brand presence and employer branding efforts. Working with the trade union present at our Goa factory was an interesting part of my portfolio. I joined Tata Group in 2020, the mandate is to anchor the growth journey of the company. I have been able to deliver essential results in various people practices, including talent acquisition, change management, organizational development, and talent management. I have been able to implement best practices in performance management, learning disciplines, HR technology, and employee engagement as per the needs of the organization. 

Overall, my professional journey has been focused on driving HR excellence, implementing strategic initiatives, and fostering a positive work environment. I am grateful for the opportunities I have had and look forward to continuing to make a meaningful impact in my field.

Given your experience across different sectors and organisations, how do you adapt your leadership style and HR strategies to suit the unique needs and cultures of different companies?

Adapting my leadership style and HR strategies to suit the needs and cultures of different companies is a crucial aspect of my role as an HR leader. I believe in taking a flexible and tailored approach to ensure the success of both the organization and its employees. To begin with, I would invest time in thoroughly understanding the unique needs, values, and culture of each company. This would involve conducting research, engaging with key stakeholders, and observing the dynamics within the organization especially the decision-making process of the company.  By doing so, I can gain insights into the specific challenges and opportunities that each company faces.

Based on this understanding, I would adapt my leadership style to align with the company's culture. For example, if the company values collaboration and teamwork, I would adopt a participative leadership style that encourages employee involvement and decision-making. On the other hand, if the company has a more hierarchical culture, I will adapt my leadership style to provide clear direction and guidance. Similarly, I would customize HR strategies to address the specific needs of each company. This could involve tailoring talent acquisition strategies to attract candidates with the desired skills and cultural fit, designing training and development programs that align with the company's goals and values, and implementing performance management systems that reflect the company's performance expectations.

Overall, my approach would be to listen, learn, and adapt. By understanding the needs and cultures of different companies, I can tailor my leadership style and HR strategies to effectively support their success and create a positive impact on their organizational culture.

As the CHRO of Tata Asset Management, what is your vision for the organization's human resources function in the coming years, and what steps are you taking to realize this vision?

In the financial services industry, the vision for the organization's human resource function in the coming years is to become a strategic partner that enables the business to navigate the evolving landscape, attract top talent, and drive sustainable growth. To realize this vision, we are taking specific steps tailored to the industry as follows: -

• Firstly, staying updated on regulatory changes, technological advancements, and market trends is paramount for HR to develop strategies that address talent needs and align with the organization's financial goals. We extensively work across the stakeholder community before introducing any policy/revisiting existing policies for our employees
• Secondly, we are focusing on building a diverse and inclusive workforce. In tandem with our Code of Conduct investing in diversity of thought and perspective is crucial for innovation and risk management in our industry
• Thirdly, we are investing in upskilling and reskilling programs to address the rapid technological advancements in the financial services industry. This includes providing training in areas such as data analytics, artificial intelligence, and cybersecurity. By equipping employees with the necessary skills, HR can ensure the organization remains competitive and adapts to changing customer demands. We have crossed 17000 training manhours across the organization from sessions that orient the newly joined to the culture of the company to customised programs for our leadership team
• Lastly, we have prioritised employee engagement and well-being as one of the biggest tenets of our employee vale proposition. The industry can be demanding and high-pressure, so it's important to create a supportive work environment that promotes work-life balance and mental well-being. We have an employee EAP helpline which provides confidential counselling services to the employee and their families as well with weekly sessions on the subject with our EAP experts on board

What are the HR challenges specific to the financial services and asset management sector, and how have you navigated these challenges in your role as CHRO at Tata Asset Management?

Financial services companies need to align their HR practices with their overall business strategy. This involves identifying critical roles, developing succession plans, and implementing talent acquisition and retention strategies that support the organization's long-term goals. Additionally, companies should strive to create a diverse workforce that reflects the demographics of their client base. This not only promotes fairness and equality but also enhances creativity, innovation, and decision-making within the organization. 

We at Tata Asset Management, leverage data analytics to make informed decisions regarding talent acquisition, performance management, and employee development. By analysing data, we identify patterns, trends, and areas for improvement, enabling them to optimize their HR strategies and processes. We have a mix of internal (Employee engagement, Employee communication & Pusle survey) and external survey (Business Ethics Assurance survey, which is being conducted by The Nielsen Company for the Tata Group) which assesses the company on ethical ecosystem, HR policies & processes, employee communication, performance management & engagement. 

By aligning talent management with business strategy, fostering employee engagement, and adopting data-driven approaches, we aim to enhance their HR practices and drive organizational success.

Can you share some of your leadership philosophies or principles that guide your approach as a senior HR executive, especially when working in a leadership capacity?

As an HR leader, my philosophy is centred around three key principles: people, collaboration, and growth. First and foremost, I believe that people are the heart of any organization. It is my responsibility to create an environment where individuals feel valued, respected, and supported. By actively listening to their needs and concerns, I can foster a culture of trust and open communication. Secondly, collaboration is essential for success. 

I believe in building strong relationships with both employees and stakeholders across the organization. By working together, we can leverage diverse perspectives and skills to drive innovation and achieve our goals. Lastly, I am committed to fostering growth, both personally and professionally. I believe in providing opportunities for continuous learning and development, enabling individuals to reach their full potential. By investing in their growth, I can cultivate a high-performing and engaged workforce.

How do you stay updated on the latest trends and best practices in the HR field, and how do you ensure that Tata Asset Management remains at the forefront of HR innovation?

As an HR leader, staying updated on the latest trends and best practices in the field is essential for me to effectively support the organisation and its employees. I employ a multi-faceted approach to ensure I stay informed and continuously enhance my knowledge. Firstly, I regularly engage in professional development opportunities. 

This includes attending industry conferences, workshops, and seminars where I can learn from experts and gain insights into emerging trends. Additionally, I actively seek out webinars and online courses that cover relevant HR topics, allowing me to stay updated from the convenience of my own workspace. Furthermore, I believe in the power of networking and collaboration. I actively participate in HR-focused online communities and engage in discussions with fellow professionals. This allows me to exchange ideas, share experiences, and learn from the successes and challenges of others in the field. 

Lastly, I am an avid reader of industry publications, research papers, and blogs especially publications like Gartner and Harvard Business Review (HBR) are two well-known sources that provide valuable insights and research across various business domains. HR professionals can access a wealth of knowledge and best practices to enhance their strategic decision-making, stay updated on industry trends, and drive positive change within their organizations. These sources can serve as valuable references for staying informed and continuously improving HR practices.

What are your views on the role of HR in driving organizational performance and business results? How have you aligned your HR strategies to achieve these objectives in your past roles?

The role of HR in driving organizational performance and business results is pivotal. To begin, HR engages in strategic workforce planning, conducting in-depth analyses of the organization's current and future workforce needs. 

By identifying skill gaps and developing comprehensive talent acquisition and management strategies, HR ensures that the organisation has the right talent in the right positions, thereby enhancing performance and productivity. Furthermore, HR should implement robust performance management systems that align individual and team goals with the organization's strategic objectives. 

This involves setting clear performance expectations, providing regular feedback, and conducting thorough performance evaluations. By establishing a culture of accountability and continuous improvement, HR drives employee engagement, productivity, and overall organizational performance. 

Compensation and benefits play a crucial role in attracting and retaining top talent.

HR must conduct thorough market research to design competitive compensation packages and performance-based incentives. Additionally, it manages comprehensive benefits programs that meet the diverse needs of employees. By offering attractive rewards, HR motivates employees and drives performance.

Learning and development initiatives are also essential for enhancing employee skills and capabilities. Identifying training needs, designing tailored learning interventions, and evaluating their effectiveness. By investing in employee development, HR fosters a culture of continuous learning, innovation, and adaptability, ultimately driving performance and business results. Additionally, HR design and administration of employee retention programs, such as career development opportunities and recognition initiatives assist in the retention of top talent and reduce turnover. 

Lastly, HR analytics provides valuable insights into key HR metrics, such as turnover rates, employee productivity, and engagement levels which are extensively used at Tata Asset Management to drive employee practices. 

How have you leveraged HR technology interventions to streamline HR processes and enhance efficiency within the organizations you've worked for? Can you provide an example of a successful implementation?

There are several HR technology interventions that can streamline HR processes. One key intervention is the implementation of HRIS, which serves as a centralized database for employee information, streamlining tasks like employee record management, payroll processing, and benefits administration. Additionally, applicant tracking systems (ATS) automate and streamline the recruitment process, from job posting to candidate selection. Performance management tools enable organizations to set goals, track progress, and provide feedback, enhancing performance evaluation processes. 

Learning management systems (LMS) facilitate training and development initiatives by delivering online courses, tracking progress, and generating reports. Lastly, employee self-service portals empower employees to access and update their own information, reducing administrative burden. These interventions leverage automation, data centralization, and self-service capabilities to streamline HR processes and improve efficiency. 

I'd be happy to share my insights towards the implementation of SuccessFactors as an HR. It was crucial to align the suite's capabilities with the organization's specific business requirements. This involved defining clear goals and objectives, establishing a dedicated project team, and gaining executive buy-in. The central HR team drove the change management strategy quite effectively to ensure user adoption. Clear communication, comprehensive training programs, and ongoing support were key elements of effective change management. The key areas addressed were concerns or resistance from employees/HR teams and providing them with solutions which were the necessary tools to embrace the new system.