Industry Stalwarts Come Forward To Make CEO-CHRO Conclave 2023 A Massive Success
The third edition of the BW People CEO CHRO Conclave 2023 was held on 30th September at The Imperial, New Delhi. The flagship event hosted several industry visionaries who have made significant contributions in the areas of human resources and contributed towards India’s national growth. The day-long summit brought together chief human resource officers, chief executive officers and HR professionals from across domains and renowned organisations to explore the power of human capital and the emerging trends and innovations in the field of human resources.
The speakers shed light upon advancing wise innovation, the importance of ethical leadership in fostering a value-driven workforce, the power of human capital and the importance of collaboration between HRs and educational institutions.
Investing in people is the shortest path in national progress: Raghupati Singhania
Acknowledging the value of HR professionals in nation-building, Raghupati Singhania, Chairman and Managing Director of J K Tyres said, "Human resource is often viewed as the people management department and plays a very pivotal role in shaping the trajectory of growth. Human resources is not merely a function, but it is a philosophy and belief that investing in people is the shortest path in an organisation’s and nation’s progress."
An apt dialogue on the role of Human Resources in contemporary organisations followed Singhania’s opening address. The discussion delved into a wide range of issues from inclusive hiring practices to aligning personal aspirations with corporate objectives and even the integration of employee happiness as a measurable metric for sustainable growth.
HR intricate part of driving cultural alignment within the organisation: Raj Nayak
While every aspect of the HR dimension got expert attention during the day, top leaders also voiced their opinions on the value of cultural alignment within an organisation.
"Culture in an organisation is a trickle-down from the management and the leadership. And the belief in HR is a part of it”, said Raj Nayak, the Managing Director of House of Cheer Networks Pvt Ltd.
Concurring a similar view Antony J. Alex, founder and CEO of Rainmaker underscored the critical role of Human Resources (HR) in shaping an organization's culture and the importance of creating a strong brand identity based on shared values. He also advocated a commitment to leaving organisations better than they were found through continuous improvement driven by values.
Hitech and high-touch workplaces to rule the next decade
While talks around leadership, and organisational culture formed the flavour of the day, industry veterans also gave their two cents on leveraging the technology of generative AI as HR functions move ahead towards imbibing automation in every sphere.
In the rapidly evolving landscape of AI and HR process automation, leading CEOs and CHROs recognised the undeniable importance of technological advancements that are reshaping how work is getting done in organisations.
Talking specifically about the aspect of using AI in talent management, Prem Singh, President, of Group CHRO, JK Organisation, said " It is largely proven that tech involvement, especially artificial intelligence, certainly creates a lot of consistency and predictability of a right candidate around talent acquisition."
"It can also predict the likelihood of a talent in a particular environment. The ability to anticipate the risk of flight through algorithms designed to observe human behaviour", he added.
However, amidst this automation-driven transformation, a significant aspect that cannot be overlooked is the intrinsic value of human connection within the organizational setup. As Rakesh Prasad, AVP - HR (IFS) at Indigo, aptly emphasized, "what truly gets an employee engaged is the connection, so human connection is mandatory to get employees engaged at a certain level." While automation streamlines various HR processes, it is the human touch that fosters employee engagement and satisfaction.
Demand for speciallised skills on the rise
Industries are increasingly seeking employees with specific skill sets tailored to meet their organizational goals. This growing demand for specialized skills underscores the need for educational institutions to adapt their curriculum accordingly. Dr. Harsimran Sandhu, Professor of Finance and Area Chair Finance at IMT Ghaziabad, highlighted the potential for a skilled workforce to emerge directly from the academic sphere. To make this a reality, he suggested that companies should actively engage with educational institutions, with HR playing a pivotal role in bridging the gap between industry needs and academic programs.
Sharing her take on the talks around upskilling, Simin Askari, Senior Vice President - Corporate Human resource and Business Excellence, DS Group said,
“I think the role of upskilling and bringing about change management is extremely important as post covid there has been a lot of change and organisations have started using technology and have understood the importance of being agile and staying updated.”
In an era where human capital is increasingly recognised as the cornerstone of national progress, the role of human resources takes centre stage in shaping a brighter future for nations. The synergy between HR practices and national development has never been more critical. Summing up and identifying key factors influencing HR’s evolution, Yuvaraj Srivastava, Group Chief Human Resource Officer at MakeMyTrip, pointed out towards favourable government regulations related to industrialisation, the focus on education with the proliferation of management colleges, and the impact of different generations on the workforce.
While experts at the BW People CEO - CHRO Conclave 2023 came to a consensus that generative AI and HR Tech will redefine future workplaces, maintaining a balance between hitech and high touch will hold the key to prosperous organisations both in terms of a healthy bottom line and value-driven workforce.
