RNI Code No. DELENG19762 | Jan-Feb 2024 | Rs.300/ Volume 3 Issue 4 | Bi-Monthly | Published from Delhi in English Debate continue on NARAYANA MURTHY'S 70-hour work panacea SHILPA VAID CHRO, Diageo India, on what will occupy CHROs' mindspace this year, especially tech penetration and hybrid work C JAYAKUMAR Executive Vice President & Head - Corporate Human Resources (CHRO), Larsen & Toubro, on changing workplace dynamics and expectations from HR role RAJESH AGGARWAL Secretary, Department of Empowerment of Persons with Disabilities, Ministry of Social Justice and Empowerment, on his vision for equitable workplaces
COMMEMORATING STEPS TOWARDS AN INCLUSIVE PLANET SUMMIT & AWARDS 2023 BWPEOPLEDEI BWPEOPLEDEI NOMINATE NOW DEI INITIATIVE AWARDS DEI LEADERSHIP AWARDS DEI Strategy Award HR DEI Awards Employee Network Award Women Advancement Award Disability Inclusion Award DEI Pioneering Initiative Award Social Inclusion Award DEI Business Leader Award Advancing Gender Equality Award Advancing LGBTIQA+ Inclusion Award Diversity Ally of the Year Best DEI Consultancy Outstanding Diversity Network Holistic Inclusion Workspace Award Best Diversity Employer Inspirational Role Model of the Year DEI Business Leader Award HR Champion of the Year in DEI DEI Champion of Change Award Lifetime Achievement (Jury Choice) AWARD CATEGORIES For Nominations: Akash Kumar Pandey | +91 7898908944 | [email protected] Ashish Kumar | +91 97179 22747 | [email protected] Aditi Rawat | +91 9873431912 | [email protected] For Speaking Opportunity: Reeti Gupta | +91 98996 10630 | [email protected] For Sponsorship: Aparna Sengupta | [email protected] | +91 9958000128 Anjeet Trivedi | [email protected] | +91 9818122217 CS Rajaraman | [email protected] | +91 9342262859 Deepak Bhatt | [email protected] | +91 9429423232 Kiran Dedhia | [email protected] | +91 9833399009 Rajeev Chauhan | [email protected] | +91 9811820301 Ravi Khatri | [email protected] | +91 9891315715 Sajjad Mohammad | [email protected] | +91 9911855935 Saurabh Jain | [email protected] | +91 9911334633 Shruti Arora | [email protected] | +91 79826 28913 Somyajit Sengupta | [email protected] | +91 9818247444 For Community Collaboration: Talees Rizvi | [email protected] | +91 93106 34007
RNI Code No. DELENG19762 | Jan-Feb 2024 | Rs.300/ Volume 3 Issue 4 | Bi-Monthly | Published from Delhi in English RAGHUPATI SINGHANIA Chairman & Managing Director JK Tyre & Industries and other speakers on how the future of work is shaping up and the responsibility that HR professionals shoulder BW People's CEO-CHRO Conclave on HR's Broadening Role Exclusive Coverage: Industry & academia remember legendary management guru Pritam Singh at the 3rd PRISM 2023 International Conference
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EXCEPTIONAL MANAGERS: LEADING, SUCCEEDING, INSPIRING! #IAmExceptional OF THE YEAR 2023 EXCEPTIONAL MANAGERS NOMINATE NOW Scan to Nominate APARNA SENGUPTA Group Director -Revenue BW Businessworld TALEES RIZVI Director BW People & BW CFO World DR. ANNURAG BATRA Chairman & Editor-in-Chief BW Businessworld & Founder, exchange4media AP PARIGI Co-Founder Radio Mirchi Times OOH Media ATUL SOBTI Director General, SCOPE Former CMD, BHEL DR. SANGEETA SHAH BHARDWAJ Acting Director Management Development Institute Gurgaon SK BOSE Director Administrative Staff College of India New Delhi Centre DR. PUNAM SAHGAL Former Dean & Professor IIM Lucknow JURY MEMBERS Award Categories and Exceptional Managers from other functions Exceptional HR Managers Exceptional Marketing Managers Exceptional Finance Managers Exceptional Sales Manager Exceptional Information Technology Managers Exceptional Operations Managers Exceptional Facility Managers Exceptional R & D Manager Exceptional Supply Chain Managers Exceptional Accounts Managers Exceptional Admin Managers For Nominations: Akash Kumar Pandey | +91 7898908944 [email protected] Ashish Kumar | +91 97179 22747 [email protected] Aditi Rawat | +91 9873431912 [email protected] For Speaking Opportunity: Reeti Gupta | +91 98996 10630 [email protected] For Community Collaboration: Talees Rizvi | +91 93106 34007 [email protected] For Sponsorship: Anjeet Trivedi | [email protected] | +91 9818122217 CS Rajaraman | [email protected] | +91 9342262859 Deepak Bhatt | [email protected] | +91 9429423232 Kiran Dedhia | [email protected] | +91 9833399009 Rajeev Chauhan | [email protected] | +91 9811820301 Ravi Khatri | [email protected] | +91 9891315715 Sajjad Mohammad | [email protected] | +91 9911855935 Saurabh Jain | [email protected] | +91 9911334633 Shruti Arora | [email protected] | +91 79826 28913 Somyajit Sengupta | [email protected] | +91 9818247444 Faizuz Ahamed | [email protected] | +91 98206 68333 Santosh B Singh | [email protected] | +91 9820129879 EVENT PARTNERS
6 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM The year gone by will be a watershed moment after the three Covid years. What was thought to be a stop-gap arrangement till Covid got over, crystalised into the preferred way of working for employees across the world. As industry called back employees back to office, some mandatorily and some offering hybrid work options, there was much debate on the need for work from office vs hybrid vs remote working options. And employers in some advanced countries also gave the option of 4-day work week - an experiment that hit headlines world-over. This tussle over flexibility is bound continue into 2024. What will also continue to demand attention from the HR function is employees’ need for wellbeing measures. While Covid saw wellbeing measures at their peak, this will continue to be an emphasis area. The biggest break from the past is artificial intelligence and other disruptive technologies. This will not only require workforce to be well-versed in these technologies – and upskilling of the existing workforce no doubt – it will also require the HR professionals to be themselves comfortable with these tools. Many of the routine functions, including in HR role, will be taken over by technology, and each one’s intelligence will be entailed in roles where technology cannot intrude. One impact that technology will have is eliminating inadvertent human bias that creeps in – in recruitment, appraisals, promotions etc. This will truly help in the cause of fostering diversity, equity and inclusion. At the same time, corporates will also have to devise ways to meet the expectations of young employees – Millennials and Gen Zs- who care for purpose in life and also have a deep sense of social responsibility. These thought have been expressed in the columns of eminent CHROs representing various sectors of Indian economy. As, C Jayakumar, Executive Vice President and Head, Corporate Human Resources (CHRO), writes, “Key aspects of this (digital) transformation will include process efficiencies, task automation, empathetic AI, hiring and workforce transformation, intelligent augmentation, and cross-functional efforts. As GenAI evolves, HR leaders must modernise and adapt to the changing landscape of work, ensuring they stay ahead of the curve and leverage this technology to improve their functions and the overall workforce experience.” New Year Greetings and Happy Reading. ANURAG BATRA [email protected] 2023: A YEAR OF RECALIBRATION EDITOR’S NOTE
DR. ANNURAG BATRA Chairman & Editor-in-Chief BW Businessworld & Founder, exchange4media SALIL KAPOOR CEO Hindware Home Innovation Limited PROF. HIMANSHU RAI Director Indian Institute of Management Indore DR. BHIMARAYA METRI Director IIM Nagpur TALEES RIZVI Director BW People & BW CFO World DR. SY SIDDIQUI Former Executive Advisor Maruti Suzuki VARADARAJAN S (RAJA) Board Advisor, Start up Partner, Leadership Coach & Former CHRO & Head of Corporate Affairs of Vistara (Tata & SIA JV) EVENT PARTNERS FOR REGISTRATION QUERY: Ashish Kumar | +91 97179 22747 [email protected] Aditi Rawat | +91 9873431912 [email protected] FOR COMMUNITY COLLABORATION: Talees Rizvi | +91 93106 34007 [email protected] FOR SPEAKING OPPORTUNITY: Reeti Gupta | +91 98996 10630 [email protected] FOR SPONSORSHIP: Aparna Sengupta | [email protected] | +91 9958000128 Anjeet Trivedi | [email protected] | +91 9818122217 CS Rajaraman | [email protected] | +91 9342262859 Deepak Bhatt | [email protected] | +91 9429423232 Kiran Dedhia | [email protected] | +91 9833399009 Rajeev Chauhan | [email protected] | +91 9811820301 Ravi Khatri | [email protected] | +91 9891315715 Sajjad Mohammad | [email protected] | +91 9911855935 Shruti Arora | [email protected] | +91 79826 28913 Somyajit Sengupta | [email protected] | +91 9818247444 Faizuz Ahamed | [email protected] | +91 98206 68333 Santosh B Singh | [email protected] | +91 9820129879 SCAN TO NOMINATE 9th 2024 NOMINATE NOW #HRExcellenceAwards JURY MEMBERS
8 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM CONTENTS JAN-FEB 2024 The Year That Was HR trends that defined 2023, and that will determine work culture in 2024. Columns from CHROs and HR Directors from various sectors C Jayakumar Harshvardhan Kundalkar KS Bakshi Sriharsha A Achar Arti Aggarwal Reena Tyagi R Venkattesh Shikha Rai Poonam Agarwal Saurabh Deep Singla Tanvi Rohatgi Shilpa Vaid Sanjay Bose Ranjan Pandey Tarun Katyal Deepnarayan Tripathi Sudeshna Sen Sharma Indrani Chatterjee Rahul Bagale Gautam Kumar Amit Das Sahil Mathur Urvi Aradhya Manu Arora Tatsuo Kinoshita Jacob Jacob Kanchan Sharma Soma Pandey Bensely Zachariah Shweta Mohanty
WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 9 Covers’ design: Arun Kumar TOTAL NO. OF PAGES: INCLUDING COVER 108 REGULARS EVENTS SPECIAL STORY NEWS 88 96 94 100 106 102 10 LAST WORD SURESH NARAYANAN CMD, Nestlé India, on the need for all citizens to contribute productively and sustainably to raise the level of the country’s prosperity BW People’s CEO-CHRO Conclave Industry leaders mull over shifting dynamics of workplace 3rd PRISM International Conference Organised in memory of legendary management guru Pritam Singh, the event saw industry leaders and academia share learnings from him 70-Hour Work Debate Putting Narayana Murthy’s 70-hour panacea for Indian economy into perspective INTERVIEWS RAJESH AGGARWAL, Secretary, Department of Empowerment of Persons with Disabilities, Ministry of Social Justice and Empowerment, on his vision for equitable workplaces for persons with disability GIRIDHAR GV, Global CHRO, Hinduja Global Solutions, discusses how to ensure equal opportunities for people with disability
10 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM On November 30, Prime Minister Narendra Modi distributed over 51,000 appointment letters to newly inducted employees of various government departments and addressed them via video-conferencing, according to his office. According to the Prime Minister’s Office, the programme was being held in 37 locations across the country as part of the ‘Rozgar Mela’ and recruitment was taking place in various central government departments as well as state governments and UTs that are supporting this initiative. Revenue, home affairs, higher education, school education and literacy, financial services, defence, health and family welfare and labour and employment are among the departments they will join. “Rozgar Mela is a step towards fulfilment of the commitment of the prime minister to accord highest priority to employment generation. It is expected to act as a catalyst in further employment generation and provide meaningful opportunities to the youth for their empowerment and participation in national development,” the statement said. The new appointees, with their innovative ideas and role-related competencies, will contribute to the task of strengthening the nation’s industrial, economic and social development, assisting in the realisation of Modi’s vision of a developed India, it added. The new appointees will also be able to train themselves through ‘Karmayogi Prarambh,’ an online module on the iGOT Karmayogi portal where over 800 e-learning courses have been made available for ‘anywhere, any device’ learning, according to the announcement. › The new appointees will be able to train themselves through ‘Karmayogi Prarambh,’ an online module where over 800 e-learning courses have been made available for ‘anywhere, any device’ learning Tata Consultancy Services (TCS) has partnered with Amazon Web Services (AWS) to launch an AI practice that will assist customers in realising the full potential of AI and generative AI services, as well as transforming various aspects of their value chain to achieve better business outcomes. The company has invested in generative AI foundation training for over 100,000 employees. The IT services firm is now concentrating on expanding their expertise, including the certification of over 25,000 employees on AWS generative AI services. The TCS AWS generative AI practice will use technology to assist customers in uncovering and categorising organisational knowledge and abstracting out insights that improve business decision-making or content creation. The resulting solution is expected to improve not only customer experience but also employee productivity. “Generative AI is one of the most transformational technologies of our generation, allowing organisations to reimagine their customers’ experience, increase employees’ productivity and enhance overall business operations. AWS has been focussed on making AI accessible to companies of all sizes and across industries and by deepening the AWS and TCS relationship through the TCS generative AI practice, more customers can easily and quickly leverage and benefit from generative AI,” said Vasi Philomin, Vice President of Generative AI, AWS. NEWS PM Distributes Appointment Letters At Rozgar Mela TCS, AWS Partner To Train Employees
WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 11 › The potential expansion could double the current plant’s size, occupying 500 acres › The audio streaming platform has taken this measure in order to cut costs amid dramatically slower economic growth › The campus intends to employ approximately 3,000 engineers in the coming years, with a focus on the design and development of semiconductor technology such as 3D stacking, AI, machine learning and others The Tata Group intends to expand its iPhone-casing manufacturing facility in Hosur. The potential expansion could double the current plant’s size, occupying 500 acres and employing over 15,000 people. This move is expected to increase employment, potentially by 25,000 to 28,000 workers. The Hosur facility’s initial investment was Rs 5,000 crore. According to the report, the new plant will primarily focus on producing components for Apple phones. However, its capabilities extend to the production of high-end phones for other companies, providing flexibility and diversification opportunities. AMD’s $400 million investment in India over the next five years includes the AMD Technostar campus. The campus will be a centre of excellence for the development of high-performance CPUs for the data centre and PCs, data centre and gaming GPUs and adaptive SoCs and FPGAs for embedded devices. The campus intends to employ approximately 3,000 engineers in the coming years, with a focus on the design and development of semiconductor technology such as 3D stacking, artificial intelligence, machine learning and others. The campus was dedicated by Ashwini Vaishnaw, Union Minister for Railways, Telecommunications, Electronics and Information Technology, as well as AMD executives such as Mark Papermaster, executive vice president and chief technology officer. According to news agencies, music streaming giant Spotify had announced that it will reduce its total headcount by around 17 per cent across the company in order to cut costs amid ‘dramatically’ slower economic growth. “We still have too many people dedicated to supporting Tata Group’s Hosur phone Plant To Create Up To 28,000 Jobs Spotify To Lay Off 17% Of Global Workforce AMD Opens Design Centre In Bengaluru He also stated that he will focus on a leaner structure that will allow the company to be more strategic about how profits are reinvested in the business. Notably, Spotify had announced in January 2023 that it would lay off approximately 6,000 employees or 6 per cent of its workforce. It announced plans to cut an additional 200 jobs or 2 per cent of its workforce, in June. These cuts resulted in C-suite changes, including the departure of Chief Content Officer Dawn Ostroff. work and even doing work around the work rather than contributing to opportunities with real impact,” said CEO and founder Daniel Ek.
12 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM NEWS › Murthy encouraged a cultural shift in India’s work ethic by drawing comparisons to successful global practices, arguing that striving for three shifts in infrastructure work could significantly contribute to the nation’s growth › Byju Raveendran is said to have pledged his own home as well as those of his family members in order to raise funds to pay staff salaries I nfosys co-founder Narayana Murthy has continued to advocate for significant changes in India’s work culture. Murthy recently emphasised the importance of infrastructure growth, proposing a fundamental shift in work patterns for infrastructure workers. For faster infrastructure growth, he proposed three shifts rather than one. Murthy highlighted key aspects critical for Bengaluru’s growth in the next 5-10 years during a conversation with Nikhil Kamath, co-founder, Zerodha, at the Bengaluru Tech Summit. He outlined three critical factors: the establishment of English medium schools to cultivate talent for the city’s software industry, a focus on infrastructure and prompt government decision-making. Murthy urged the government to expedite ongoing projects such as the Electronic City metro in Bengaluru in order to boost infrastructure development. He advocated for longer work shifts in the infrastructure sector, citing how many successful nations work two or more shifts. “People in those infrastructure industries must work three shifts, they should not work just one shift, come at 11 am and then go at 5 pm. At least on the Electronic City Road, that is what I see, I may be completely wrong,” Murthy said. “But in other nations that have high aspirations people work two shifts. I would return around midnight (when abroad)and I have seen people working as if they are going to disappear tomorrow morning. I cannot vouch for three shifts, but I can definitely vouch for two shifts.” Murthy encouraged a cultural shift in India’s work ethic by drawing comparisons to successful global practices, arguing that striving for three shifts in infrastructure work could significantly contribute to the nation’s growth. According to reports, nearly 1,000 Byju employees breathed a sigh of relief when they received their pending November month salaries on 4 December. The company is currently experiencing difficulties on multiple fronts. Byju’s India subsidiary currently employs approximately 14,000 people. In the most recent development, founder Byju Raveendran is said to have pledged his own home as well as those of his family members in order to raise funds to pay staff salaries. According to a news agency, these homes worth Rs 100 crore were used as collateral for a $12 million loan that will be used to pay the salaries of 15,000 employees at Byju’s parent company Think & Learn. Must Work 3-Shifts For Infrastructure Growth: Narayana Murthy Byju’s Founder Pledges Homes To Raise Funds; Pays November Salaries To Employees
WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 13 The Haryana government has formally extended coverage of a cashless health facility initiative to all regular government employees in the state. During the cashless health facility programme held recently, Governor Bandaru Dattatraya and Chief Minister Manohar Lal Khattar distributed Ayushman cards to a segment of government personnel. From November 1, 2023, the state government piloted a cashless health facility scheme for government employees in the fisheries and horticulture departments and their relatives. According to a state government official, all beneficiaries would profit from the cashless plan because the treatments outlined will be totally cashless and hospitals will have their claims processed from a single platform within a stipulated time limit. Beneficiaries and other stakeholders will benefit from more efficient, smooth, hassle-free, and time-bound services under the system. According to the existing requirements, the scheme covers six life-threatening crises, including cardiac emergencies, brain haemorrhage, coma, electric shock, third and fourth stages of cancer, and any form of accident, in addition to all types of indoor treatments and nursery procedures. To use the scheme’s benefits in the empanelled hospitals, all beneficiaries will be given an E-card/CCHF card. Beneficiaries may get benefits by providing a payee code, Aadhaar number, or PPP number. The state government will bear the entirety of the scheme’s costs. Haryana Govt Extends Cashless Health Facility To Employees The Maharashtra Labour Department has issued a notice to Tata Consultancy Services (TCS) about a complaint lodged against the information technology (IT) firm regarding its transfer practices. The Nascent Information Technology Employees Senate (NITES), an organisation representing India’s IT industry workers, filed a complaint alleging that TCS relocated over 2,000 employees without sufficient consultation. After receiving more than 300 complaints accusing TCS of causing hardship to employees by relocating them to different cities without sufficient notice or consultation, NITES claimed it filed a complaint with Maharashtra’s Ministry of Labour and Employment. “The company had threatened the employees that failure to comply with the transfer directions will result in disciplinary actions. The company now has unethically stopped the salary of employees who are opposing these forced transfers,” said Harpreet Singh Saluja, president of NITES, as per media reports. Business Standard reported an email TCS sent to some employees to move to Mumbai, which said, “This is with reference to your transfer order to TCS Mumbai followed by a transfer email directing you to report to the said branch within 14 days and complete the transfer process. However, it has been noted that you have failed to report to the transferred branch till date...the company is initiating a stoppage of your salary with immediate effect.” After TCS allegedly delayed onboarding of lateral personnel, NITES filed a complaint with the labour ministry in July 2023. Maharashtra Labour Department Issues Notice To TCS Over Forced Transfers
14 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM Tech Mahindra Elevates Harshvendra Soin To President- APJ Businesses Harshvendra Soin has been elevated to the position of President- Asia Pacific & Japan Businesses at Tech Mahindra, effective December 2023. He has been elevated from the position of global chief people officer and head of marketing, corporate services & people supply chain. He confirmed his appointment on LinkedIn, stating, “I’m happy to share that I’m starting a new position as President - Asia Pacific & Japan Businesses at Tech Mahindra.” He joined Tech Mahindra in December 2012 as the global head of leadership acquisition & development and headbusiness HR for APAC & IMEA. In his new position, Soin will be responsible for driving growth and managing P&L across a wide range of businesses in the region, including enterprise and communication. He will be working onsite from Sydney, Australia. Prior to Tech Mahindra, Soin served as the chief people officer at Fortis Healthcare & Aditya Birla Group. He has also held key leadership positions at Bharti Retail, Bharti Enterprise, Bharti Tele Ventures and East India Oberoi Hotels. APPOINTMENTS Santrupt Misra, Director HR, Aditya Birla Group Demits Office Santrupt Misra, Group Director, Birla Carbon and Director- Chemicals & HR, Aditya Birla Group has resigned from his position. He will be demitting office at the end of working day on January 15, 2024. In his 28 years of leadership within the group, Misra grew the HR function from an embryonic stage to a strong employer brand with the OneHR team he built. He also led the carbon black and chemical businesses at the group. He was responsible for overseeing corporate affairs (Mumbai) and corporate accounts, Aditya Birla Management Corporation. Moving forward, Santrupt has decided to pursue an active career in public life. Commenting on the movement, Kumar Mangalam Birla, Chairperson of Aditya Birla Group said in a company statement, “I am delighted to inform you that Mr. Ashok Ramchandran, Group Executive PresidentGroup HR, is being appointed as Director, ABMCPL, in the capacity of Director- HR, Aditya Birla Group.” With over three decades of experience, Ramchandran previously held leadership roles at Asian Paints, GE Capital, Tata AIG Insurance and Vodafone India before joining the Group in 2015. He is an expert in talent staffing and development, succession planning, rewards and organisation design. “Taking over (from) Ashok, as the Group Executive President- GHR, will be Mr. Ramesh Mitragotri, currently the CHRO- Ultratech Cement,” added Mangalam Birla. Mitragotri joined the Group in 2007 and became the CHRO of Ultratech Cement in 2016. Prior to ABG, he served at Owens-Corning, HCC and Philips India.
WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 15 Vipul Singh Joins Lloyds Technology Centre As HR Head & MD- People & Places Gaurav Saini Joins Wadhwani Foundation As Global CHRO Essar Oil UK Appoints Nimish Khare As Chief People Officer › Singh was the SVP and head of HR, communications and CSR at ADP for offshoring locations (India, Romania, Brazil & Philippines) of Global Business Solutions for the last 12 years Vipul Singh has been named managing director- people & places and HR head at Lloyds Technology Centre India, effective immediately. With over 25 years of HR leadership experience in information technology, services, telecommunications and consumer durables industries, he has led multiple HR organisations and provided strategic HR and marketing communications support to various growing businesses. Singh was the senior vice president and head of HR, communications and CSR at ADP for offshoring locations (India, Romania, Brazil & Philippines) of Global Business Solutions (GBS) for the last 12 years. He was also on the Board of ADP Philippines. At ADP, he was responsible for the HR, corporate social responsibility and communications for the GBS locations. › Prior to this, Saini was associated with HMD Global, the home for Nokia Phones, as the GM HR (CHRO)- India, MEA, APAC and Global Lead Business Transformation Gaurav Saini has joined Wadhwani Foundation as its global chief human resources officer. He will be working onsite from Delhi and Palo Alto, USA. In his new role, he will be responsible for heading the HR function globally for the foundation. Prior to this, Saini was associated with HMD Global, the home for Nokia Phones, as the GM HR (CHRO) - India, MEA, APAC and Global Lead Business Transformation. At HMD Global, he led the HR function for the core business unit in India, MEA & APAC regions and captive centres of India region. Saini is an expert in HR strategy, talent management, employee engagement, leadership development, change management, reorganisation, wellness, happiness and HR artificial intelligence. Prior to HMD, he served at Happiest Mind Technologies, IMImobile, Tata AIA Life Insurance, Aon Hewitt and Aviva. Essar Oil UK has appointed Nimish Khare as chief people officer (CPO), adding to its executive team. Khare has over two decades of HR leadership experience in the United Kingdom and Europe, primarily in the information and technology sectors. Khare, a recent LTI Mindtree leader, has a background in › Khare has over two decades of HR leadership experience in the UK and Europe, primarily in the information and technology sectors “I look forward to working with our amazing teams to develop and nurture people strategy to achieve our transition ambitions,” stated Khare in a LinkedIn post. information and technology. His duties included team development, collaborating with executives to foster an inclusive HR culture and implementing people strategies to achieve business goals. Prior to this, he held senior positions at Coforge, Wipro Technologies, Infosys Technology and ST Microelectronics.
16 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM APPOINTMENTS Viekas K Khokha has been appointed as the senior vice president (SVP) and chief human resources officer (CHRO) of Sharda Motor Industries, effective 1 December 2023. Prior to his new role, Khokha served as the Head of HR function of Dhanuka Agritech from September 2020 till November 2023. He was responsible for spearheading the people and talent agenda across market commercial operations, innovation, R&D, corporate business services and factories at Dhanuka Agritech India. The journey was successfully led by transforming the critical HR processes like performance management and talent management and re-designing most of the critical policies in line with the changing landscape of the agri-input Industry. At SMIL, Khokha’s role entails establishing an HR organisation to oversee nine manufacturing units, R&D and sales operations for both domestic and international business. Subsequently, the focus will shift towards implementing technology solutions to streamline processes, enhance automation and explore outsourcing opportunities. Rakesh Thakur Joins Boat As Group CFO Viekas K Khokha Joins Sharda Motor Industries As SVP & CHRO › At SMIL, Khokha’s role entails establishing an HR organisation to oversee nine manufacturing units, R&D, sales operations for domestic & international business and implementing technology solutions Speaking with BW People, Khokha stated, “I am thrilled about my position at SMIL, as I envision being an integral part of the company’s growth journey.” He is an expert in developing leaders, driving innovation, building collaborations and high-performing teams, developing competency learning models and workplace culture management. › At boAt, Thakur will be responsible for leading the finance department and building capabilities through talent and technology Rakesh Thakur has been appointed as the group chief financial officer at boAt Lifestyle. He will be working onsite from Mumbai. Thakur confirmed his appointment on LinkedIn, stating, “I’m happy to share that I’m starting a new position as Group CFO at boAt Lifestyle.” At boAt, he will be responsible for leading the finance department, creating legacy and building capabilities through talent and technology. With more than two decades of experience in the finance industry, Thakur is an expert in P&L delivery, business partnering, business restructuring, mergers, acquisitions & integration, business, manufacturing & IT transformation, regulatory & industrial bodies engagement and financial planning and controls. Prior to this, Thakur held key leadership positions at Unilever, GSK Consumer Healthcare India, Samsung Electronics and PepsiCo.
18 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM By Krishnendra Joshi HR TRENDS 2023-2024 › The domain of Human Resources underwent a transformative journey in 2023. A journey marked by the need to innovate and adapt in the wake of evolving business realities and technological disruption 2 023 was in a way paradoxical from the HR perspective. One saw mass layoffs and talent shortages in equal measure. Companies not only made jobs redundant but also created new job roles, more so, rolling out upskilling initiatives to the tee. It was a year witnessing a relatively low employee morale but also a year where mental health and employee wellbeing became a top priority. Layoffs In the beginning of 2023, tech major Google announced mass layoffs, as if tipping the business world of what’s to come. From a talking point, the year saw companies across sectors going on a never-seen-before layoff spree. HOW HR SHAPED UP IN 2023 For some organisations, layoffs were a consequence of over-hiring during the pandemic and workforce management needed optimisation in 2023. For others, it was a business necessity driven by recessionary pressure, a move to cut costs. Another angle to this development was the rapid adoption of generative AI to solve business problems, in effect, taking away entry-level jobs, to put it mildly. Companies worldwide not only opened up to the possibilities of generative AI but also developed their own proprietary AI tech to get things done at the click of a button and at a fraction of a cost in terms of the headcount requirement to do the same task. Whether it was a move influenced by recession or tech adoption, layoffs went from becoming a trend to a norm in 2023.
WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 19 For some organisations, layoffs were a consequence of over-hiring during the pandemic.... For others, it was a business necessity driven by recessionary pressure Lapping up the hybrid model While remote work brought a lot of flexibility and a fair share of learning, organisations in 2023 looked eager to transition to a hybrid model of work and strike a balance between flexibility and accountability. With major tech companies mandating a three-day work week, other organisations followed the trend and started creating their own policies and protocols. The general sentiment and a common theme around adopting a hybrid model of work is that it brings back the element of teamwork, productivity and the essence of human touch to the fore. As workplaces across the world grapple with evolving dynamics in the post-pandemic era, the concept of returning to work has emerged as the norm for many organisations - casting a spotlight on the critical interplay between work dynamics, personal circumstances, and employee expectations. The evolution towards hybrid work models is seen as a pragmatic response to the challenges of the modern world and has proved fruitful in curbing attrition among female employees. Employee wellbeing took centre-stage The pandemic underscored the importance of prioritising employee wellbeing and the growing emphasis continued in 2023. The year gone by saw many companies going back to the drawing board to chalk policies and implement programmes addressing physical, mental and emotional health. Recognising mental health issues, burnout and employee wellbeing initiatives saw an uptrend in 2023. More so, taking a cue from the learnings of the pandemic, more and more companies are recognising that integrating employee wellbeing is a business imperative. The growing mix of younger generations, such as Millennials and Gen Z in the workforce demographic has
20 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM aided the shift in workplace values. Worklife balance, purpose-driven work and a positive organisational culture are seen as priorities amongst youngsters today. Employers in 2023 recognised the need to adapt those strategies to align with the preferences and values of these emerging professionals, further underscoring the importance of employee wellbeing. AI integration in HR Artificial intelligence is becoming an integral part of HR operations. From streamlining recruitment processes with AI-driven tools to using analytics for talent management, HR professionals are leveraging technology to make data-driven decisions. Like a slow burn, companies are also realising that AI is not just automating tasks but also a medium to enhance the overall employee experience. However, the most noticeable integration of AI in business processes has been seen in making generic processes more efficient. Instances of companies deploying their own generative AI tool to enhance cost-effectiveness and output productivity have dominated the headlines in 2023. Upskilling initiatives As industries evolve, the need for upskilling and reskilling becomes a natural progression in the employee development lifecycle. 2023 saw companies investing in upskilling programmes. HR departments worked closely with employees to identify skill gaps and curate targeted training programmes. This focus on continuous learning not only benefits employees but also ensures organisations stay competitive in a rapidly changing landscape. Amidst the ongoing tech advancement, upskilling has become a strategic approach to develop the existing talent pool and cut down reliance on hiring externally. Employee experience redefined In the new-age model of work, creating the right employee experience has become a crucial part in the larger scheme of things. In 2023, HR leaders actively worked on enhancing the overall employee journey, from recruitment to offboarding. Personalised employee experiences and feedback mechanisms are adding a new dimension and helping companies to create an engaged and happy workforce. Emphasis on data privacy and security With increased reliance on technology, safeguarding employee data became a top trend or a concern rather for HR professionals in 2023. The evolving tech landscape has simultaneously raised red flags at workplaces from a data security and privacy point of view. 2023 saw companies taking a step forward towards strengthening data privacy measures, ensuring compliance with regulations and fostering a culture of cybersecurity awareness within the organisation. The evolving regulatory landscape, coupled with changing work dynamics, has made it mandatory for organisations to protect the personal sensitive information of their employees. More than a legal mandate, data privacy is vital for maintaining trust with employees and stakeholders. In conclusion, 2023 presented HR professionals with an array of challenges and opportunities. Moreover, the year saw dialogues with the business and HR communities on work hours and employee satisfaction. This is not to say that corporate consciousness around these workplace themes was non-existent, but there has been a visible increase in advocacy around creating the right culture and experience for the most valuable asset of the organisation. In 2024, HR leaders are poised to take their learnings forward and navigate the evolving landscape and drive positive change within the organisation. HR TRENDS 2023-2024
POWER SPEAKERS DR SAMEER SAXENA FRICS, IGBC AP, GEM CP, IOSH, Real Estate Services Leader – India , Marsh & Mclennan Companies Inc KANWAR GILL Director - Real Estate Concentrix AMIT NAGPAUL VP & Head - Corporate Real Estate and Facilities HSBC CAPT SUDEEP GHOSHAL Senior Vice President - Administration & Infrastructure Reliance Capital LT CDR AJIT SINGH YADAV Head Administration & Facilities One97 Communications (Paytm) SHAILENDRA NATH Real Estate Services Independent Consultant SUNIL GAUBA Vice President Expansion Cars24 AMAR SHETYE Global Operations Head – RMG Tata Consultancy Services MAJ AJAY RANDHAWAA Sr Vice President & Group Head - Facility Management & Security Sterlite Power Transmission RAJIV SHARMA Head - Workplace Management Nykaa RAVINDRA SWAMI Principal Consultant - Head Operations - Information Technology Infra - Large Account, Infosys SAHIBJEET SINGH GREWAL Vice President – Facilities & Projects InterGobe Real Estate Ventures Pvt. Ltd. KAMAL SATSANGI Group Head – General Management & Global Operations Air India NEELAM CHHABRA Assistant Vice President - Facilities Max Life Insurance JAI AGNANI VP Global Head Corporate Real Estate & Facilities EXL DR SANJAY PAI Vice President & Head – Corporate Travel, Aviation & Facilities Management Larsen & Toubro DR ANANTA SINGH RAGHUVANSHI President NAREDCO MAHI SANJAY SHISHODIA DGM - Corporate Administration & Facility Management Hero MotoCorp Limited CHANDRESH NATU AVP Procurement Cognizant ASHA PATHANIA Vice President - Housekeeping PVR INOX Cinemas LT BHASKAR SHUKLA Manager (CSO- Delhi NCR) JK Cement ARUN SHARMA Associate Vice President & Head Administration Infogain India NEETA RAJWAR AVP & Facility Director Marengo Asia Hospitals DR SAURABH LALL Associate Vice President & Head of Hospital (P&L) Operations Max Healthcare SANJAY MEHTA Executive Director - Workplace Enablement Grant Thornton POOJA ARORA Vice President of Procurement & Infrastructure Blinkit COL NAVINDER NARANG Head Infrastructure Facilities and ESG, ICICI Home Finance Company For Partnership & Sponsorship: Mohit Chopra: +91 9899200063, [email protected] Aparna Sengupta: +91 995800 0128, [email protected] For Nomination, Registration & Speaking Opportunity: Savi Chauhan: +91 8830547785, [email protected] ASSOCIATE PARTNER KNOWLEDGE PARTNER EVENT PARTNERS Recognising Next Generation Thought Leaders And Experts From The Facility Management Industry REGISTER NOW 6 FEB 2024 Le MERIDIEN NEW DELHI #BWFM40UNDER40AWARDS Facility Management UNDER 40 AWARDS
22 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM By C Jayakumar HR TRENDS 2023-2024 The author is Executive Vice President and Head, Corporate Human Resources HR HEROES, Gear Up for the Future of Work › Going beyond traditional salary structures, organisations should focus on Total Compensation to enhance performance and productivity Reflecting on the year 2023, the transformative influence of generative AI emerged as a pivotal game changer, significantly reshaping the landscape of various industries. A distinctive emphasis on prioritising employee wellbeing and elevating the overall employee experience took centrestage, marking a paradigm shift in organisational priorities. Concurrently, the heightened importance placed on skilling and reskilling initiatives underscored a proactive response to the dynamic demands of the industry. The dynamic landscape of HR in 2024 presents both challenges and opportunities for HR leaders. Some of the key emerging themes would be: Digital transformation and HR technology: Continued integration of advanced technologies, such as AI, machine learning, and analytics will optimise HR operations. Generative AI (GenAI) is poised to revolutionise HR technology, streamlining administrative tasks and enhancing productivity. Key aspects of this transformation will include process efficiencies, task automation, empathetic AI, hiring and workforce transformation, intelligent augmentation, and cross-functional efforts. As GenAI evolves, HR leaders must modernise and adapt to the changing landscape of work, ensuring they stay ahead of the curve and leverage this technology to improve their functions and the overall workforce experience. HR analytics: As organisations enter an era of unprecedented change, the strategic utilisation of data-driven insights will emerge as a competitive advantage. HR analytics is poised to be a transformative tool, leveraging these insights to elevate strategic decision-making, talent management, and overall workforce effectiveness. In a landscape where agility and adaptability are essential, HR analytics will empower organisations to proactively address the dynamic challenges of the modern workplace. HR leaders should have a foundational understanding of analytics to make data-informed decisions, align human capital strategies with business objectives, foster continuous improvement, and gain a competitive edge in attracting, retaining, and developing a high-performing workforce. Employee skilling & reskilling: Investing in employee skilling and reskilling is a strategic imperative for organisations
WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 23 HR leaders in 2024 must navigate a multifaceted landscape, where technology, economic factors, and the evolving expectations of the workforce converge C JAYAKUMAR navigating the rapidly evolving landscape of technology and industry requirements. By dedicating resources to upskilling initiatives, organisations empower their workforce to acquire new competencies, adapt to emerging trends, and remain agile in the face of change. This investment not only enhances individual professional growth but also ensures that the organisation remains competitive and resilient. HR leaders must focus on continuous skilling, reskilling and multi-skilling to build a skilled and versatile workforce capable of driving innovation, increasing productivity, and successfully navigating the challenges of the future, contributing significantly to the overall success of the business. Employee experience: In the future, the importance of employee experience will be paramount. The rise of hybrid work models will persist, fostering improved work-life balance and reduced commuting stress. Mental health will take centrestage, and technology integration will expand. Positive workplace cultures, inclusive environments and flexible benefits tailored to individual needs will be prioritised. Focus on total rewards: Organisations need to prioritise the comprehensive implementation of total rewards Category: Multiple Sectors in compensation to effectively attract, motivate and retain a high-performing workforce. Recognising that compensation is multidimensional, encompassing both financial and non-financial elements, is essential for enhancing employee engagement, satisfaction, and long-term retention. Going beyond traditional salary structures, organisations should integrate variable pay based on performance, provide extensive employee benefits, establish tailored recognition programmes, offer ample opportunities for professional development, champion work-life balance initiatives, ensure job security, and foster positive work environments. By prioritising a holistic total rewards strategy, HR leaders can create a workplace culture that not only attracts top talent but also cultivates a motivated and loyal workforce. Diversity, equity & inclusion: Diversity, equity, and inclusion (DEI) continue to be paramount for organisations globally. DEI, encompassing dimensions such as race, gender, age, ethnicity, sexual orientation, disability, and other forms of diversity, is a strategic imperative for fostering an inclusive workplace and driving organisational success. Beyond legal compliance, DEI is integral to ethical business practices. While we focus on diversity, equity and inclusion are vital to ensuring that diverse perspectives are not only present but valued, creating a workplace where everyone has equal opportunities, feels respected, and contributes to the organisation’s success. As a result, DEI remains a crucial driver for both internal dynamics and external relationships. DEI serves as a strategic tool for HR leaders, facilitating the attraction and retention of top talent, fostering innovation, enhancing employee engagement, and actively cultivating a workplace culture that mitigates bias and discrimination—all of which are integral to organisational success. Environmental, social, and governance: The incorporation of environmental, social, and governance (ESG) principles into the Human Resources function is poised to become increasingly significant in the days ahead. HR leaders must serve as instrumental architects of an organisation’s ESG framework by integrating environmental, social, and governance principles into the corporate culture. They must play a crucial role in talent management, aligning compensation with ESG goals. In essence, HR leaders in 2024 must navigate a multifaceted landscape, where technology, economic factors, and the evolving expectations of the workforce converge.
24 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM By Harshvardhan Kundalkar HR TRENDS 2023-2024 The author is Chief People Officer, Daimler Truck Innovation Centre India Rapidly Evolving HR LANDSCAPE › As we look forward to 2024, the adoption of AI, digitisation and emerging technologies will continue to redefine the employee life cycle I n the rapidly evolving landscape of human resources, Daimler Truck Innovation Centre India intends to be in the forefront of embracing and leveraging technological advancements to enhance the employee experience and drive organisational success. As we approach 2024, the role of technology in HR is more crucial than ever. Digitisation: A pillar of HR evolution The adoption of digital transformation in the HR domain stands as a crucial initiative for companies aiming to optimise operations, boost efficiency and cultivate a more connected and engaged workforce. Within the realm of the trucking industry, digitalisation transcends mere buzzwords, evolving into a strategic necessity. The infusion of cutting-edge technologies into HR functions has ushered in a flexible approach to managing talent. Every facet of the employee life cycle, spanning recruitment, onboarding, talent management and development, employee engagement and HR operations has undergone a digital overhaul. The foundation of a human-centric HR ecosystem would rely heavily on data analytics, mobile applications and cloud-based solutions. This framework fosters a culture of transparency and reliability, streamlining decision-making processes and providing employees & leaders with immediate access to their HR ecosystem. AI’s role in the employee life cycle Artificial intelligence (AI) is reshaping the employee life cycle within the industry and various organisations are leveraging the potential of this technology. The application of AI algorithms to numerous HR functions enhances efficiency and generates valuable insights, with innovations in recruitment, onboarding and performance management. In the realm of recruitment, AI technologies enable HR professionals to focus on decision-making. This involves conducting initial screening, analysing resumes and even predicting the potential success of applicants. The incorporation of AI-driven chatbots facilitates a smooth onboarding process for new hires and ensuring seamless integration into the company. AI-driven analytics revolutionises performance manage-
WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 25 While HR technology undergoes a sea change in the coming years, the HR professionals will also have to evolve; a future HR professional would have to be a people and technology advocate HARSHVARDHAN KUNDALKAR Category: Automotive ment, offering objective and data-driven insights into employee performance. This, in turn, facilitates more informed decisions regarding promotions, training and development opportunities. The data-driven approach ensures that talent is nurtured and aligned with organisational objectives. Additionally, AI is increasingly used to customise the employee experience. Whether it’s recommending learning and development opportunities based on individual preferences or predicting potential attrition risks, AI plays a pivotal role in tailoring HR strategies to meet the distinct needs of each employee. 2024 trends in HR technology Several trends are anticipated to have a significant impact on HR technology by 2024. The use of augmented and virtual reality in HR procedures is one notable trend. With immersive learning experiences that improve employee skills and information retention, these technologies have the potential to completely change training and development programmes. The growing use of natural language processing (NLP) in HR applications is another new trend. This enhances accessibility and user experience by enabling more organic and intuitive interactions between employees and HR systems. Predictive analytics will also be used more often in personnel management and workforce planning. Organisations may anticipate future workspace demographics, workforce demands, compensation models, identify upskilling opportunities and proactively address prospective difficulties by utilising machine learning algorithms and historical data. Integration of AI/Analytics to solve pertinent talent management challenges will be crucial. Evolution of the HR professional While HR technology undergoes a sea change in the coming years, the HR professionals will also have to evolve. A future HR professional would have to be a people and technology advocate. This will facilitate creation of initiatives and interventions that are backed by data and put employee experience at the centre. At the same time HR professional will have to focus on building a innovative mindset that will think technology to transform day to day operations and processes. An effective HR professional of the future would leverage technology to facilitate crucial board room decisions, simplify/ ease people management for leaders as well as to create a fascinating employee experience. Trends and challenges in the automotive industry with regards to technology As automobiles become more complex and automation and digitisation become essential components, it’s important that the workforce also experiences technology transformation in HR tech. This would soon become an important expectation form the ever evolving workforce. In addition to the above HR strategies need to incorporate initiatives to ensure that employees are able to navigate the future easily to adapt to the ever evolving technology era. As we look ahead to 2024, the integration of AI, digitisation and emerging technologies will continue to redefine the employee life cycle. Embracing these technological advancements, organisations in the automotive industry are not just innovating within their HR practices but also playing a pivotal role in the broader transformation of the sector. As the industry grapples with the convergence of technology and human capital, success and sustainability hinge on a steadfast commitment to human-centric approach, continuous learning and adaptability.
26 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM By KS Bakshi T he HR landscape has undergone substantial transformation in recent years, driven by technological advancements, the unprecedented challenges of the global pandemic, and shifting employee expectations. Within this dynamic environment, CHROs now stand at the forefront, adeptly navigating through emerging trends and embracing best practices to ensure the sustained growth and success of their organisations. 2023: A pivotal year for HR transformation In 2023, the HR landscape witnessed noteworthy developments. Technological and automation adoption soared, with HR practitioners relying on streamlining processes and data analytics for informed decision-making. As the industry emerged from the pandemic, there was a growing acknowledgement of the imperative to address workplace burnout and mental health concerns. Initiatives to foster a supportive and healthy work environment gained HR TRENDS 2023-2024 The author is Group Head – Human Resources, InterGlobe Enterprises HR POLICIES Must Become Agile › In the coming year, HR teams will realign their priorities, reflecting the changing needs of the modern workforce traction, highlighting evolving priorities and strategies for talent management and organisational wellbeing across sectors. The talent crunch emerged as a pressing concern, leading HR professionals to focus on innovative recruitment strategies, reskilling initiatives and robust employee development programmes. Simultaneously, there has been an increased focus on enhancing employee experience and engagement, recognising their pivotal role in influencing productivity levels, retention rates and overall organisational success. Looking ahead to 2024 In the coming year, human resource teams will realign their priorities, reflecting the changing needs of the modern workforce. While predicting future trends precisely could be challenging, several trends indicate what the HR space in 2024 may entail: Employee wellbeing: The endeavour of the HR teams will be to provide a more personalised, and holistic wellness approach, using new-age digital health platforms, different from the existing conventional Employee Assistance Programmes. Skill development: There will be an accelerated adoption of continuous learning platforms to address evolving skill requirements, with an emphasis on both personal and professional growth. The focus will be more on improving agility through digitalisation. Championing diversity, equity and inclusion: HR leaders will continue to prioritise fostering a diverse, equitable, and inclusive workplace where all employees feel valued and respected. Hybrid work policies: Refinement of hybrid work models for optimal productivity and employee satisfaction. Agile HR practices: Agile methodologies will be applied to HR processes for quicker adaptation to changing business needs with data-driven decision-making at the forefront. It will be key, as there is an increasing reliance on people analytics for strategic HR decisions and predictive workforce planning. Employee-centric uprising: There has been a paradigm shift in HR practices, placing a renewed emphasis on employee enablement within the contemporary workplace. This emerging trend represents a realisation of the pivotal role employees play in organisational success and how their empowerment and wellbeing directly correspond with amplified productivity and engagement levels.
WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 27 Employee wellbeing and satisfaction will likely take centre stage, with a focus on creating an inclusive and supportive workplace environment KS BAKSHI hotels can expect to see robust demand in the next year. However, this growth will also bring new challenges and necessitate a critical focus on the people agenda. The hospitality sector is set to witness some evolving practices in 2024. Employee wellbeing and satisfaction will likely take centre stage, with a focus on creating an inclusive and supportive workplace environment. With consolidation trends gaining traction, HR policies and practices must adapt to become nimbler and agile. For example, there is a need to create more shared services using technology to enhance efficiency and productivity. The aviation sector has witnessed a remarkable turnaround post the pandemic and is one of the fastest-growing industries. Amidst this dynamic landscape, HR is poised to play a pivotal role in fostering a workplace culture centred on diversity, equity and inclusion (DEI). As the industry gains higher growth, the need for a robust leadership pipeline becomes increasingly evident and important. Additionally, HR will extend its efforts beyond the realm of recruitment, recognising that internal mobility strategies are integral to fostering employee engagement and retention. By implementing comprehensive skills development programmes, HR will empower employees to continuously upskill and adapt to the ever-evolving demands of the industry. The spotlight will also be on the environmental, social and governance (ESG) which will involve aligning business practices with broader societal and environmental goals. Environmental (E): Green workspaces: Companies will need to prioritise creating eco-friendly work environments, incorporating sustainable practices in office spaces, and promoting green commuting options. Sustainability initiatives: HR will play a pivotal role in implementing and communicating sustainability initiatives such as energy consumption, waste reduction, and carbon footprint within the organisations covering areas. Social (S): Community engagement: Companies would focus on community involvement and social responsibility, encouraging employees to participate in volunteer programmes and philanthropic activities. Governance (G): Ethical leadership: There will be more emphasis on practising ethical leadership and governance, promoting transparent decision-making and accountability at all levels. Category: Aviation Technology adoption: The rise of AI and Machine Learning will also play a more prominent role in the Human resources function, driving high-tech adoption for automating tasks, providing predictive analytics, and enhancing talent acquisition and management. Environmental, social and governance (ESG) focus: HR function will play a key role in aligning organisational practices with ESG goals. Role of HR in shaping the future of hospitality and aviation industries The hospitality industry is seeing an evident paradigm shift in consumer behaviour. With the travel industry rebounding,
28 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM By Asit Kumar As we bid farewell to 2023, a year that saw remarkable shifts and innovations in the HR domain, it becomes pivotal to assess these transformative trends and prepare for the dynamic terrain that lies ahead in 2024. The past year was a year of evolution, witnessing significant developments across various facets of HR practices, especially within the fintech sector. Yearly Roundup (2023) Remote work policies: The year 2023 witnessed the consolidation of remote work as a fundamental aspect of the modern workplace. Flexible work arrangements became not just a benefit but a necessity, reshaping how companies approach workforce management. The successful implementation of remote work policies required HR to focus on creating robust infrastructures for virtual collaboration, fostering a sense of belonging and promoting work-life balance. Shift toward a people-first culture: A notable shift occurred in organisational culture, with companies placing a heightened emphasis on people-first approaches. Employee wellbeing, mental health and work-life integration took centrestage. HR professionals became architects of cultures that prioritise the holistic development and satisfaction of employees. Prioritised social media and brand awareness: Social media has emerged as a powerful tool for talent acquisition and brand building. HR strategies incorporated a strong focus on employer branding, utilising platforms like LinkedIn, Twitter, and Instagram to highlight company culture, values, and employee stories. Diversity, Equity And Inclusion (DE&I): Recognising the importance of a diverse workforce, HR professionals actively worked towards creating an inclusive environment that HR TRENDS 2023-2024 MULTI-GENERATIONAL WORKFORCE valued and celebrated employees from different backgrounds. Increased focus on HR compliance and cybersecurity: Given the shift towards remote work, HR compliance and cybersecurity became paramount, especially in the fintech sector. HR teams ensured stringent adherence to regulatory requirements concerning data privacy and cybersecurity, considering the increased vulnerability associated with remote work setups. Transition into a culture of trust: Rather than relying on traditional methods of performance evaluation, HR strategies pivoted towards outcome-based assessments, fostering a culture where trust and accountability were mutual between employers and employees. Talent development and succession planning: Companies invested more in talent development and succession planning to ensure a continuous pipeline of skilled individuals. HR played a pivotal role in identifying and nurturing talent in the organisation. 2024 TO WITNESS › Companies will prioritise leadership development programmmes that emphasise empathy and emotional intelligence The author is the CHRO of Lendingkart
WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 29 2024: Trends And Challenges Human leadership - distinction between managers and leaders: As we step into 2024, the distinction between managers and leaders becomes more pronounced. Companies will prioritise leadership development programmmes that emphasise empathy, emotional intelligence and the ability to inspire and guide teams through uncertainty. HR technology - AI and analytics: The integration of Artificial Intelligence and analytics into HR functions will accelerate. Predictive analytics will become instrumental in talent acquisition, performance management, and employee engagement. HR technology will not replace human intuition but enhance decision-making processes. Getting back to the workspace: The transition back to physical workspaces poses unique challenges. HR professionals will need to navigate hybrid work models, ensuring a seamless blend of in-person and remote collaboration. Career management: Companies will invest in comprehensive career management programmes and internal mobility initiatives. Employee experience: The year 2024 will witness a multi-generational workforce, demanding a tailored approach to employee experience. HR strategies need to accommodate varying preferences and create a unique experience for each individual. Resource mix: In 2024, HR will be tasked with optimising the resource mix. Whether managing workforce costs as a percentage of operating costs or balancing overall costs as a percentage of income, HR professionals will play a crucial role in maintaining financial equilibrium. Sector-specific insights - fintech sector In the fast-paced world of fintech, the demand for specialised skills continues to grow. HR professionals in this sector must prioritise upskilling and reskilling programmes to meet the ever-evolving technological landscape. Recommendations and Best Practices for 2024 Embrace ‘human’ leadership: Invest in leadership development programmes that nurture qualities such as empathy, adaptability and effective communication. Leaders should serve as inspirations, guiding teams through challenges with a human-centric approach. Harness the power of HR technology: Integrate AI and analytics into HR functions to enhance decision-making. Leverage technology to streamline recruitment processes, identify skill gaps, and predict employee performance trends. Foster a seamless transition back to the workspace: Craft flexible policies that accommodate hybrid work models. Prioritise communication and team-building initiatives to maintain a sense of unity, regardless of physical location. Prioritise career management and internal mobility: Implementing mentorship programmes and providing resources for continuous learning to facilitate internal mobility can function as a great measure for bringing out the best in individuals. Sensible and focussed hiring: To avoid situations like layoffs experienced in the previous year, HR in 2024 will focus on sensible and strategic hiring. A careful and thoughtful approach to recruitment will be essential to ensure that the organisation has the right talent. In conclusion, the HR landscape underwent profound changes in 2023, setting the stage for a dynamic and transformative 2024. As we navigate the evolving terrain, our commitment to placing people at the heart of our strategies remains unwavering. Here is to a year of innovation, resilience and unparalleled success. Category: BFSI Invest in leadership development programmes that nurture qualities such as empathy, adaptability and effective communication. Leaders should serve as inspirations, guiding teams through challenges with a humancentric approach ASIT KUMAR
30 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM Post Pandemic effects, political instability in Ukraine, the Israel war, recession fears, troubled start up world, return-to-office debate, impulsive hiring, changing job profiles, short term thinking by organisations, led to both extremes – great resignation and then mass layoffs. In the rapidly changing employment market, the balance of power is shifting. The tide has now turned from the employer to the candidate, now the negotiating power sits firmly with the employee. As the waves of the Covid subside and economic growth returns this will renew consumer confidence, which in turn will stimulate recovery and expansion initiatives. All of this will lead to businesses increasing headcount. So, the hiring havoc will continue. Employee experience will be centrestage: • Skill gap bridging through upskilling, cross skilling will gain traction. • Back to office mantra – provided Covid does not raise its ugly head again. • HR will continue to face an unprecedented amount of disruption. • Critical talent will continue to get a premium. • With all of us relying so much on digital communication, especially video-conferencing, our workspace design needs to transform too. • By creating a company culture based on mutual trust and respect, you can improve employee engagement and push productivity to the next level. • Productivity, profitability, and engagement all begin with employee wellbeing. To entice this competitive market, the office of the future will need to embrace the needs of this emerging workforce. • Employees still want the freedom of WFH, yet want all the perquisites of a well-paid job. • Companies want 100 per cent commitment. The race will continue to find the balance. • The truth is that the future of work has arrived, but in a completely different package than what we expected it to. By Sriharsha A Achar HR TRENDS 2023-2024 The author is Chief Human Resources Officer, Star Health and Allied Insurance HIRING HAVOC TO CONTINUE › HR leaders will be tasked with building a workforce that is skilled for the new ways of working in the insurance industry
WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 31 Productivity, profitability and engagement all begin with employee wellbeing. To entice this competitive market, the office of the future will need to embrace the needs of this emerging workforce SRIHARSHA A ACHAR Category: BFSI • The insurance industry is sitting on massive growth potential. As the industry is preparing for this phase of growth, insurance companies have to prepare for major transformation - in the kind of employees, the size of the workforce, the volumes the industry operates with, the way insurance companies are structured and the scale of growth, among other things. HR leaders will be tasked with building a workforce that is skilled for the new ways of working in the insurance industry. Implementing a transformation of this scale is a massive task. Strategising the process, securing approvals from the leadership and finalising the HR tech product vendor is but a small part of the process. Ensuring that every employee in the organisation uses the in 2023-24 for the insurance industry, despite a downturn in insurtech valuations at the end of 2022. In fact, indications are that highest projected growth for 2023-24 will be in the areas of technology, claims and underwriting, with technology, actuarial and underwriting positions being the most difficult to fill. The mission of HR should be to collaborate with internal customers and enable employees to deliver outstanding results aligned with the overall business results. As millennials have started taking leadership roles, it is high time we balance our thinking and execution, keeping them in mind. Having an engaged or motivated workforce is not the sole responsibility of HR function. It is sad that only HR folks are made accountable for low engagement scores. A delightful employee experience is made when a new employee sails through the journey of his tenure in a company at various touch points until he/she exits. It is said that we either make ourselves accountable or we will be made accountable by our circumstances. Managers in general should be made accountable for engagement scores. Five things that are common across countries, cultures, organisations and generations, when it comes to employees are trust, respect, flexibility, empowerment and compassion. All budding HR practitioners should use the two very sparingly used senses – common sense and human sense when deploying engagement programmes. tech tools is the real challenge. CHROs should focus on three areas: Capacity building: Developing and strengthening the skills, instincts, abilities, processes and resources that organisations and communities need to survive, adapt and thrive in a fast-changing world. Capability building: Developing a scalable plan for how an organisation can identify, develop and nurture the capabilities critical to business success. Culture building: Developing a plan to promote the values, beliefs and actions in an organisation. The top 5 HR priorities for 2024 will be: 1. Leader and manager effectiveness 2. Organisational culture 3. HR technology 4. Change management 5. Career management and internal mobility The Indian insurance market is experiencing a transformation to ‘digital-first’ business models that can unlock new value worth billions of rupees. This will require skilled resources in niche areas like technology, data science, analytics and actuarial science. The compensation market for qualified and trained resources has moved up sharply over the last few quarters. With the advent of the internet and digital technology, the hiring landscape has changed dramatically. Employers can now post job openings on online job boards, social media platforms and company websites, reaching a wider audience in a matter of minutes. Overall, growth is expected
32 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM By Arti Aggarwal HR TRENDS 2023-2024 The author is Chief Human Resources Officer, Tata Mutual Fund As AI becomes more prevalent in HR practices, ethical considerations become crucial ARTI AGGARWAL › HR professionals should implement mental health initiatives to foster a healthy and engaged workforce T he field of Human Resources (HR) is constantly evolving, driven by technological advancements, changing workforce demographics and shifting workplace dynamics. As we approach 2024, HR professionals must stay ahead of the curve to effectively navigate these changes and drive organisational success. Here are a few recommendations for HR professionals in 2024, as follows: Embrace artificial intelligence (AI) and automation: AI and automation will continue to transform HR practices in 2024. HR professionals should leverage AI-powered tools to streamline administrative tasks, such as payroll management, benefits administration, data processing and recruitments. AI-powered chatbots can provide personalised support to employees, while predictive analytics can identify patterns and trends for better workEMPLOYEE WELLBEING TO BECOME PRIORITY force planning. Embracing AI in HR functions enables the implementation of advanced algorithms and machine learning models to automate processes like candidate screening, resume parsing and employee performance analysis. By automating these routine tasks, HR professionals can focus on more strategic initiatives, such as talent development, employee engagement and organisational culture. Prioritise employee wellbeing: In recent years, employee wellbeing has gained significant attention and this cause is expected to continue in 2024. Implementing various initiatives can effectively support employee mental wellbeing. These may include providing access to mental health resources such as counselling services, offering flexible work arrangements to promote work-life balance, organising stress management workshops, promoting mindfulness and meditation practices
WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 33 prioritise training programmes that address unconscious bias and promote cultural competence. Develop agile workforce strategies: The pandemic has accelerated the adoption of remote work and flexible work arrangements. This includes implementing hybrid work policies, leveraging digital collaboration tools and providing training to enhance hybrid team management skills. HR professionals should also focus on building a resilient workforce capable of adapting to unforeseen challenges. Enhance employee experience: Employee experience has a direct impact on engagement, productivity and retention. The criticality of HR professionals in creating a positive employee experience by understanding employee needs, providing meaningful feedback and recognition and fostering a culture of continuous learning and development in coming times is immense. Actually, research from Wharton supports this, showing that companies with a focus on employee experience outperform their competitors by 122 per cent. This directly impacts the business in several ways. Firstly, a positive employee experience leads to higher employee engagement, which in turn increases productivity and performance. When employees feel valued and supported, they are more likely to go the extra mile and deliver exceptional results. Secondly, a great employee experience improves employee retention rates, reducing turnover costs and the need for constant hiring and training. This stability allows for better continuity and knowledge retention within the organisation. Finally, a positive employee experience also enhances the company’s employer brand, making it more attractive to top talent in the market. We should also leverage technology to enhance emCategory: Insurance ployee experience through personalised learning platforms, employee feedback tools and digital communication channels. Embrace data-driven decision making: In 2024, HR professionals must leverage data analytics to make informed decisions. According to Gartner, research shows that organisations that rely on data for HR decisions experience a 4 per cent increase in productivity and a 6 per cent increase in profit margins. By using data-driven insights, HR can identify trends, predict future workforce needs and develop effective strategies to attract, developand retain top talent. In the realm of HR, the anticipated trends for 2024 encompass a range of strategic areas. These include a heightened emphasis on employee wellbeing, the continued evolution of remote and hybrid work models, a focus on upskilling and reskilling initiatives, an unwavering commitment to diversity, equity and inclusion (DEI), an increased reliance on data-driven HR practicesand the integration of artificial intelligence (AI) and automation technologies. As AI becomes more prevalent in HR practices, ethical considerations become crucial. HR professionals should ensure that AI systems are designed and implemented responsibly, avoiding biases and promoting fairness in decision-making processes. As HR leaders in 2024, whilst technology and automation play a significant role, fostering and meaning connections, promoting collaborate spirit and nurturing a sense of belonging among employees should remain a top priority. By balancing the use of technology with human interactions, HR leaders can create a harmonious and engaging work environment that supports the overall wellbeing and success of their workforce. and fostering a supportive and inclusive work culture. Additionally, encouraging open communication, providing training on mental health awareness and promoting self-care practices can contribute to a positive and mentally healthy work environment. This is imperative in creating a supportive work environment that promotes physical, mental and emotional wellbeing. HR professionals should implement mental health initiatives to foster a healthy and engaged workforce. Foster diversity, equityand inclusion (DEI): Diversity, equity and inclusion have become critical components of organisational success. It is becoming key for HR professionals to actively promote diversity in the workplace by implementing inclusive hiring practices, providing equal opportunities for career advancement and fostering a culture of belonging. HR should also
34 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM By ReenaTyagi HR TRENDS 2023-2024 The author of the article is CHRO, Future Generali India Life Insurance DECODING HR TRENDS IN INSURANCE INDUSTRY › With the insurance industry poised to pursue rapid technological transformation and adopt modernisation initiatives, HR leaders will have to foster greater collaboration, improve skill sets and achieve greater diversity at the workplace in 2024 With the hybrid working model now becoming the new normal, organisations across industries are increasingly adopting digital workspace solutions to achieve improved employee productivity levels as well as a better work-life balance for their workforce. Not only is this positively impacting employee retention and engagement levels, but also unlocking new business and growth opportunities for erstwhile traditional sectors like the insurance industry. That said, rapid modernisation comes with its own set of HR challenges, necessitating that HR leaders are constantly in touch with ever-evolving employee and organisation needs and are agile enough to respond to them. From an insurance industry perspective, there are prominent HR trends that are bound to get more pronounced in 2024 and organisationsought to be cognisant of the mif they want to ensure sustainable business success. Collaborative culture and digital mindset As changing customer preferences push organisations to upgrade traditional infrastructures to a digital and cloud-based model, employees too will have to adapt to the new way of working by learning new tools and upgrading their existing skill sets. This is important for organisations if they want to innovate new products and services as well as adopt new-age business models that will remain relevant in a digitally connected world. This will require an agile workforce that is focussed on increased collaboration, which in turn will eliminate any siloes that exist within the organisation and reduce operational redundancies to improve the end customer experience. With increasing technology integration and more control in the hands of the consumers, insurance agents will have to shift away from their current transactional role, towards pursuing and building lasting
WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 35 insurance coverage and retirement welfare, it is vital that leaders also promote greater employee wellbeing through their strategic actions. Implementing initiatives that elevate employee experience levels, ensuring that they like the work they do and facilitating greater trust between teams are a few action points towards this end. Organisations on their part will also have to empower managers to prioritise employee wellbeing through timely interventions and foment positive changes within their respective teams. Insurers that champion employee wellbeing are more likely to witness tangible improvements in terms of higher productivity standards, lower employee attrition and stronger advocacy for the organisation. HR has to focus on building skills of relationship management, understanding customer needs and providing niche solutions REENA TYAGI Category: BFSI relationships with customers by using technology to support them. While advanced data analytics and digital communication tools should be used to ensure better lifecycle management, more relevant, important, appreciable and personalised inputs have to be provided to every customer by their insurance agent. HR has to focus on building skills of relationship management, understanding customer needs and providing niche solutions. Demand for tech talent could see a further uptick Even though the current recessionary-like business climate has dampened hiring across many industries and sectors, the demand for tech talent is expected to grow in 2024 and beyond. In the same vein, in order to be able to respond to the changing regulatory and consumer landscape, insurance companies will need to accelerate the adoption of new technologies like Generative Artificial Intelligence (GenAI), Blockchain and many more. This implies hiring talent that is proficient in digital and analytical skills including data scientists, machine learning (ML) & AI engineers, digital marketers and many more with relevant skillsets. In fact, driving digital transformation initiatives that can overhaul existing legacy systems and processes will require organisations to develop a prodigious in-house talent pool. Implementing employee wellbeing strategies for a highly engaged workforce In order to achieve a highly engaged workforce that is driven to achieve the organisation’s goals, it is important that their overall physical, emotional and financial wellbeing is well taken care of. While this involves implementing a well-defined employee benefits policy that includes comprehensive health Shoring up the trust quotient through holistic DEI initiatives While insurers increasingly adopt customer-centric strategies and increase the performance bar expected from their workforce, it is equally important that employees share the same motivation and are cared for within the organisation. HR leaders will have to ensure this by resolving any trust deficit and build an inclusive working environment where everyone is recognised for their contributions. Providing equal work and pay to all employees, adopting a flexible work framework and respecting everyone irrespective of their personal choices are some important aspects that will need to be ensured across the insurance sector. This will help improve the industry’s credibility amongst the larger society, while also benefiting business prospects on account of improved employee and consumer trust. As the insurance industry witnesses transformative changes that are centered around rapid modernisation initiatives, HR leaders will have to follow a more nuanced approach and effect enterprise-wide culture change to create the conditions needed for continued business success. This will require them to eradicate siloes, elevate internal talent and walk the talk by displaying ubiquitous employee centricity; to help drive a more focussed, consistent and persistent collaborative effort across the length and breadth of the organisation. To summarise, 2024 could be the year where insurers prove how uplifting employees can translate into elevated customer experiences.
36 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM By R Venkattesh HR TRENDS 2023-2024 The author is Head IT, Human Resources, Operations & CIO at DCB Bank During my career journey of over three decades, I have seen how the HR function and its roles have evolved from the statutory requirement of working as welfare officers and personnel officers to Human Resources professionals. Personally, I have been lucky to have worked very closely with the business to understand key drivers and business priorities, which helped my transition from a core HR professional to a business function professional. This too is a reflection of the key changes in HR trends that we are seeing today. I recall my decision to stay with one of my first employers despite all of the hardships and work stress that led to frustration, despite the fact that I was receiving lucrative opportunities from competitors. At such a crossroads, my decision was based solely on the fact that there is no guarantee of a better experience in the next organisation, but if I stay here, I will have a unique opportunity to see this one through. That single decision paved the way for a once-in-a-lifetime career opportunity that I would not have had if I had decided to leave and join another organisation. With so many opportunities available today, HR professionals must show a lot more courage and conviction to advance their careers. The HR function has clearly changed from being an operational function for the institution to being a strategic unit, working side by side and aligning with the vision, values, and business strategy. While one can attribute much of this journey to changing market realities, CEOs, and boards of directors, the quality of professionalism and role displayed by Human Resource professionals has also played a role. In addition to being a support function, the Human Resources function is now referred to as a business partner or a business player. Here are my thoughts on the key HR trends that will shape the future of work in 2024. Talent war will intensify The hunt for top talent is expected to reach new heights. With India on track to become the world’s third-largest economy, we will soon face a labour shortage that will prevent us from meeting many of our workforce needs. HR departments must implement innovative recruitment strategies, such as leveraging employer branding, providing competitive benefits, and creating a workplace culture that appeals to the workforce’s diverse needs. While resource competition was once common, resource sharing will be the norm in workforce dynamics. Enhancing supervisory capability With more and more young first-time supervisors entering the workplace and the role of supervisors evolving beyond traditional managerial functions, HR will have to focus on developing supervisory capabilities that encompass leadership, empathy, and adaptability. Training programmes and coaching sessions will become integral to nurturing these skills, ensuring that supervisors can effectively manage teams in an ever-changing work environment. Elevating employee engagement In the near future, employee engagement will remain a top priority for HR. Employee engagement dimensions for the future must include a unified approach involving human-machine interactions. TALENT WAR: CAN HR RETHINK THE GAME? › In addition to being a support function, the Human Resources function is now referred to as a business partner or a business player
WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 37 With so many opportunities available today, HR professionals must show a lot more courage and conviction to advance their careers R VENKATTESH Category: BFSI The workplace of the future must accommodate both humans and machines, as well as their interdependence and line of work segregation. As remote and hybrid work become more common, human resource professionals will need to come up with innovative ways to foster a sense of belonging and connection among employees. This includes virtual team-building activities, regular feedback mechanisms, and employee wellbeing initiatives. The rise of HR tech HR is no longer only about high touch; it’s about high tech as well. Technology will continue to reshape the HR landscape. Artificial intelligence (AI), machine learning, and data analytics are becoming integral to HR functions, streamlining processes from recruitment to performance management. HR technology solutions will be leveraged to enhance decision-making, automate routine tasks, and provide data-driven insights to management. Flexible working is here to stay The pandemic accelerated the adoption of flexible working arrangements, and by 2024, this trend will be well established. Human resource policies must support remote and hybrid work models, emphasising flexibility, work-life balance, and the use of collaboration tools to ensure seamless communication among dispersed teams. The changes of the past will continue, with some modifications, in 2024, and the landscape of HR is evolving at an unprecedented rate, driven by technological advancements, changing work dynamics, and a heightened focus on employee well-being. Human Resource professionals are increasingly becoming strategic partners, guiding businesses through the complexities of the modern workforce.
38 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM By Shikha Rai I n 2024, the landscape of the modern workplace is set to undergo a considerable shift and at the heart of this evolution lies a pivotal influence - human factors. As organisations navigate the ever-shifting dynamics of a post-pandemic world, the role of human elements such as employee wellbeing, collaboration and adaptability takes centrestage. The seismic shift towards a more empathetic and inclusive workplace culture is expected to shape not only physical office spaces but also virtual and hybrid work environments. The emphasis on holistic employee experiences reflects a growing recognition of the essential connection between human satisfaction and overall organisational success. As technology continues to advance, the intersection of human factors and workplace strategies will be a driving force, steering organisations toward innovative solutions that prioritise the wellbeing and effectiveness of their workforce in this transformative era. Here’s a look at the human-defined factors that will be moulding workplaces in the coming year: HR TRENDS 2023-2024 The author is Senior Vice President- HR & IT, Canon India Hiring All Set To Change In 2024 › The evolution of the modern workplace is not just a response to change; it is a proactive embrace of the future
WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 39 Creating employee ambassadors to drive employee value propositions In 2024, the creation of an employee value proposition will be the key to attracting the right talent. This will entail turning existing employees into brand ambassadors through fostering a positive work culture and high-engagement initiatives like career upskilling, job rotations and a motivating reward and recognition programmes, to deliver a superior employee experience. When these are successfully executed, employees turn into workplace ambassadors. Advanced technology for enhanced employee engagement The pandemic propelled us into digital adoption and in 2024; this will be amplified even further with greater percolation of technology across functions. HR functions will see a greater integration of people analytics to understand employee needs and preferences, identify engagement drivers and detect behavioural trends. This will also identify diversity and inclusion gaps by analysing data on employee demographics, promotion rates and pay to create an inclusive workforce. As technology continues to evolve, organisations in 2024 will leverage advanced tools to foster a more connected and agile work environment, leading to increased productivity and innovation across the board. Retaining human touch It can be very easy for the human touch to get buried as technology takes over workplaces, and this is going to be a tricky challenge for workplaces to manoeuvre in 2024. This is why it will be critical for workplaces to maintain meaningful ties with the workforce and craft a compelling employee journey - one that recognises their contributions, appreciates them and charts them in the company’s future goals. Engagements both individually and in groups for wellbeing, A human-centric approach signifies a departure from the traditional topdown organisational structures to a more inclusive and employee-centric model SHIKHA RAI upskilling, team-building, leadership interaction, diversity and inclusion, career and personal development and others will need to be carried out to establish a sense of belonging in the workplace, even when dealing with a blended workforce. In-person gatherings as well as team-building activities need to be chalked out, as there is no substitute for face-to-face quality time. Workplace flexibility According to recent research findings by Indeed, a substantial 71 per cent of jobseekers in India prioritise work flexibility over salary considerations. This trend is expected to exert an even more pronounced influence on the criteria potential employees weigh when seeking employment opportunities in 2024. For organisations, recognising and accommodating this preference for flexibility will be paramount. It also offers them an opportunity to develop an adaptable workplace through targeted training programmes focused on remote collaboration, equipping employees with the skills for flexible work arrangements. This will also require them to ensure additional investment in digital tools for seamless communication, project management and collaborative workflows. It also calls for reassessment and refinement of their policies and infrastructure to accommodate diverse remote work preferences. Beyond qualifications: interpersonal qualities to be key factor for hiring The approach towards hiring is also set to change in 2024, with more and more organisations looking beyond qualifications and skills. They will also equally evaluate the cultural and social intelligence of candidates to ensure the best fit within the company’s collaborative and diverse work environment. This shift signifies a growing recognition of the importance of interpersonal skills and adaptability as organisations prioritise candidates who not only excel in their roles but also contribute positively to the overall dynamics of the team and the company as a whole. The evolution of the modern workplace is not just a response to change; it is a proactive embrace of the future. A human-centric approach signifies a departure from the traditional top-down organisational structures to a more inclusive and employee-centric model. The emphasis is on creating workplaces that not only adapt to change but actively shape it, recognising the pivotal role of human factors in driving innovation and productivity. By building around, for and by employees, organisations must position themselves to thrive in an era where the human element is not just a consideration but the cornerstone of success. Category: Consumer-Tech
40 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM By Poonam Agarwal I n the dynamic landscape of businesses, the Human Resources domain is no stranger to evolution. The proverbial ‘war for talent’ continues and in this arena, adaptability and innovation have become true game-changers over the past years. The consumer electronics and appliances industry in India is undergoing a significant transformation. With the industry poised to become the fifth-largest in the world by 2025, the role of HR is fast-evolving to meet the dynamic demands of this ever-expanding sector. Key trends in 2023 One of the key trends that emerged in 2023 and continues to shape HR strategies is adaptive workforce planning. With the rapid growth of the Indian Appliances and Consumer Electronics (ACE) market, companies are realising the importance of aligning their workforce with changing market demands. The past year has underscored the importance of employee wellbeing as a cornerstone of successful organisations. HR strategies shifted towards prioritising mental health, work-life balance and overall employee wellness. At BSH Home Appliances, the physical and mental wellbeing of our employees is our utmost priority. We have implemented health and wellbeing policies that cater to work-life balance. The call for diversity, equity and inclusion has grown louder in 2023. Progressive HR strategies place a strong emphasis on creating inclusive workplaces that celebrate diversity. Navigating into the future, there is a growing need to align the focus on crucial aspects such as employee experience, technological integration, continuous learning, flexibility, inclusive culture, global workforce management and employee wellbeing. These factors HR TRENDS 2023-2024 The author is head of Human Resources, BSH Home Appliances HR Should Continue To Prioritise Diversity, Inclusion › As we usher in 2024, the proliferation of hybrid work models is anticipated, compelling HR professionals to prioritise optimisation will continue to be priorities to navigate challenges and ensure sustainable business. Key areas for HR evolution Evolution of hybrid work culture: Organisations have discerned the advantages of flexibility but are equally attuned to the potential erosion of organisational culture in prolonged virtual settings. As we usher in 2024, the proliferation of hybrid work models is anticipated, compelling HR professionals to prioritise optimisation. This involves the meticulous refinement of flexible work policies, harnessing technology for collaborative tools and adeptly addressing challenges inherent in cross-functional team collaboration within the hybrid environment. The shift toward hybrid models signifies a strategic balance, acknowledging the value of remote work while proactively nurturing and adapting organisational culture to the evolving dynamics of the virtual and physical workplace. Talent acquisition and management: As the demand for premium appliances rises, the need for specialised skills in product development, technology integration and customer experience becomes paramount. HR should focus on strategic talent acquisition, identifying and recruiting individuals with expertise in emerging technologies and market trends. In today’s economic climate, almost all talent acquisition teams have been given a mandate to achieve more with less. That means finding newer ways to build an agile, resilient workforce that can withstand short-term challenges and deliver sustainable growth for years to come. Learning as a continuous journey: As demand for premium products rises, there’s a crucial need for upskilling in areas like data analytics, digital marketing and online sales strategies to tap into the expanding market. With a growing focus on sustainability, training in eco-friendly practices and ethical manufacturing is now essential. Premium
WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 41 products demand top-tier customer service, emphasising the need for upskilling in soft skills, problem-solving and communication. Cultivating a culture of continuous learning is vital for delivering an elevated level of service and satisfaction in this dynamic industry. Employee wellbeing takes centrestage: Organisational focus on employee wellbeing is not just a compassionate approach; it’s a strategic imperative. By investing in the wellbeing of employees, organisations can create a positive and productive work environment. This holistic approach includes mental health support, psychological safety and wellness programmes. Initiatives addressing the comprehensive wellbeing of employees have become The integration of artificial intelligence and automation in HR processes is expected to increase POONAM AGARWAL central components of HR strategies. Technology integration in HR processes: Given the industry’s reliance on technology, HR should continue to leverage technological advancements in its processes. The use of analytics in HR has witnessed continued growth, providing HR professionals with data-driven insights for more informed decision-making. Analytics is leveraged across various HR processes, contributing to a more strategic and effective approach to managing human capital. The integration of AI and automation in HR processes is expected to increase. This may involve using AI for more accurate talent acquisition, automating routine HR tasks and overall enhancing the efficiency of HR operations. Diversity and inclusion: To foster innovation and a deeper understanding of diverse consumer needs, HR should continue to prioritise diversity and inclusion. Embracing a diverse workforce ensures a broad range of perspectives and ideas, which is vital for staying competitive in a rapidly changing market. Given the global operations of the consumer electronics industry, HR faces the complex task of managing a diverse and international workforce. This includes navigating cultural differences, ensuring compliance with local regulations and implementing effective communication strategies to foster collaboration across borders. As we embrace the unfolding future, these HR trends have become the compass guiding us through uncharted territories. We believe that by aligning our strategies with these evolving trends, we not only nurture our most valuable asset—our people—but also fortify our position as a progressive and resilient organisation. The journey continues and the HR playbook is being rewritten with each passing day. Category: Consumer Durables
42 BW PEOPLE DEC 2023 - JANUARY 2024 WWW.BWPEOPLE.COM By Saurabh Deep Singla HR TRENDS 2023-2024 The author is CHRO, upGrad Emerging Dynamics In Workplace › The ability to work remotely is giving organisations global access to talent from different parts of the world
WWW.BWPEOPLE.COM BW PEOPLE DEC 2023 - JANUARY 2024 43 As Gartner said in their report for 2023, HR leaders face a historic amount of disruption and their timeline from planning to action keeps shrinking while the imperatives increase. This will continue to be the case in 2024 SAURABH DEEP SINGLA T he post pandemic years have seen the business ecosystem undergo a significant transformation and human resources (HR) has not remained unaffected. 2023 saw trends that not only reshaped HR practices but also signalled the future directions that HR would take in 2024. 2023 saw advances in technology led by AI create major upheavals in the way businesses would prepare themselves for the future. The same also impacted employees, highlighting the need for them to reskill and upskill to keep pace. As businesses continue to evolve at a rapid pace, the need for employees to stay abreast of the latest skills and knowledge will become critical for their survival and success. HR will have to take the lead in driving learning and development programmes to ensure that the skilling of the workforce is built into a competitive advantage. There will be a greater emphasis on micro-learning and just-in-time training, leveraging digital platforms to provide learning opportunities that are both flexible and relevant. Employee wellbeing was another key factor that saw an increased focus from HR. The need to support not just the professional, but also the personal lives of their employees saw businesses launch initiatives to support mental wellbeing and enhanced work-life balance. 2024 will see human resources building on these initial efforts to foster a healthier work environment and reduce high employee retention rates. Adding to the complexity is the global uncertainty due to the unprecedented geopolitical situations that threaten to put brakes on the post-pandemic economic recovery. As Gartner said in their report for 2023, HR leaders face a historic amount of disruption and their timeline from planning to action keeps shrinking while the imperatives increase. This will continue to be the case in 2024. Remote work evolved further in 2023, but some businesses began to encourage employees to come back to office, while others adopted a hybrid model. This movement will continue in 2024 and HR will need to develop strategies to counter the resistance seen in many employees. The ability to work remotely is giving organisations expanding global access to talent from different parts of the world. For HR, the challenge will be to manage a global workforce with cultural differences and diverse employment & labour laws. Another notable trend in 2023 was the adoption of technology-driven HR solutions. Artificial Intelligence (AI) was increasingly employed for various HR functions, from recruitment and onboarding to performance analysis and training programmes. This technological integration will help make HR processes more efficient and free up time for HR professionals to focus on more strategic aspects of their role. Technology-driven evaluation and delivery of learning solutions will help personalised skilling of employees. Category: Education Diversity, equity and inclusion (DEI) is another aspect that will continue to be in focus in 2024. Last year saw a strong push for not just diverse hiring practices, but also for creating an inclusive culture where every employee feels heard. 2024 will see this going beyond mere compliance to become a strategic imperative linked to organisational success. Looking ahead to 2024, the role of HR as a strategic partner in business success has never been more pronounced and its impact on shaping the future of work will continue to grow. There is no doubt that the integration of technology in HR is set to deepen. The challenge will be to balance the efficiency gains from technology with the human touch that is essential in HR.
44 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM By Tanvi Rohatgi HR TRENDS 2023-2024 The author is People Director at AB InBev India As we advance into 2024, it’s an opportune moment to reflect on the transformative journey of Human Resources (HR) in the dynamic landscape of India’s beer industry throughout 2023. Working in a multinational brewing company, we’ve seen many changes, faced challenges and celebrated successes, highlighting how important HR is in guiding our team to success. India is a burgeoning market that is growing fast and has lots of potential. HR professionals must be flexible, creative and proactive to navigate it well. The past year’s experiences have taught us so much, and these lessons will be our compass as we move forward. Unveiling the year’s highlights: Embracing workplace transformation In 2023, the evolution of work accelerated, making hybrid work not just a benefit but an expected norm for employees. Even as some returned to physical offices in 2022, the prevalence of hybrid work continued, prompting organisations to adopt new approach to meet changing work preferences, particularly with the emergence of Gen Z in the workforce. This transition required adaptations such as leveraging technology, refining remote work policies, intensifying efforts on diversity and inclusion, prioritising employee wellbeing, using data for decision-making, enhancing skills and embracing flexible HR practices. Furthermore, employers acknowledged the need for a people-centric work structure that emphasises flexibility, deliberate collaboration and empathetic management tailored to hybrid employees. Embracing these trends has become crucial for HR professionals to thrive in 2023 and beyond. It highlighted the industry’s dedication to cultivating deeper connections in the workplace while urging organisational adjustments and managerial flexibility to meet the evolving expectations of the Gen Z workforce. Must For HR To Adopt Holistic Approach › India is a market with great potential that is expanding quickly; to successfully navigate it, HR professionals need to be flexible, creative and proactive Evolution of HR in FMCG: Innovating with Diversity and Sustainability Within the Fast-Moving Consumer Goods (FMCG) sector, 2023 ushered in distinctive challenges. HR strategies pivoted toward innovation, harnessing the power of data analytics and artificial intelligence to inform recruitment, employee growth and performance evaluation. The pivot toward Diversity, Equity and Inclusion (DEI) as a foundational aspect
WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 45 Effective leadership, organisational culture, training paradigms, changing workplace demographics and the continued impact of remote and hybrid work models will be focal points TANVI ROHATGI Category: FMCG ship, organisational culture, training paradigms, changing workplace demographics and the continued impact of remote and hybrid work models will be focal points. Integrating HR technology, particularly AI and analytics, will be pivotal in streamlining operations and ensuring a seamless employee experience. Purpose-driven work and green job opportunities will increasingly take precedence, aligning with broader societal aspirations. Holistic approach for HR professionals in 2024 Adopting a holistic approach is paramount as HR professionals brace themselves for 2024. Key recommendations and best practices include: integrating DEI into every aspect; emphasising sustainability and green job skills; cultivating collaboration; embracing technological advancements and prioritising employee wellbeing. In India, the business outlook for 2024 teems with optimism, positioning the nation as an appealing talent hub amidst an environment ripe for innovation and expansion. HR professionals at the forefront of transformative change can steer organisations towards a future that champions diversity, sustainability and innovation. By championing equitable actions, elevating the human element of sustainability and focussing on green jobs and relevant skill sets, HR can enrich organisational landscapes while offering an attractive proposition for talent keen on contributing to and thriving within India’s dynamic business ecosystem. At AB InBev India, we lead this charge, setting benchmarks for fostering an inclusive, sustainable and innovative workplace for generations to come. rather than mere metrics marked a significant paradigm shift. Additionally, sustainability emerged as a pivotal theme, influencing HR strategies and permeating the organisational ethos. AB InBev India has been at the forefront, pioneering a focus on sustainability through initiatives like our over 100 sustainability challenge and inviting diverse perspectives to solve complex problems and foster innovation. Diversified workforce strategies in the industry Simultaneously, the AlcoBev sector confronted its own diversity and inclusion hurdles. HR professionals recognised the strategic advantage of embracing diversity and fostering inclusivity to leverage varied perspectives. Employee Resource Groups (ERGs) offered support, advocacy and a sense of belonging to a diverse workforce. This focus extended across all functional domains and hierarchical levels. Our commitment to driving diversity at AB InBev doesn’t stop at the numbers. We’ve achieved a 50:50 gender representation in our brewery in Maharashtra and are expanding this across all our manufacturing units nationwide. Shaping Tomorrow: HR’s Evolution in 2024 Looking ahead to 2024, HR professionals are gearing up to tackle priorities that will profoundly influence talent management strategies as a new generation enters the workforce. Effective leader-
46 BW PEOPLE DEC 2023 - JANUARY 2024 WWW.BWPEOPLE.COM By Shilpa Vaid HR TRENDS 2023-2024 The author is Chief Human Resources Officer, Diageo India T he HR industry has undergone tremendous changes as HR professionals face unprecedented challenges and embrace innovative solutions to navigate through the most challenging times that one can imagine in a post-pandemic world. As another year comes to a close, it’s important to consider the ever-changing field of HR and look ahead to the trends that will influence the industry in the upcoming year. Moreover, the Alco-Bev industry is undergoing a major transformation, pushing companies to reconsider their traditional approaches and embrace a more inclusive workplace. 2023 roundup: Embracing hybrid work and holistic wellbeing The biggest development in 2023 was hybrid work becoming the norm, with most organisations embracing the new ways of working in some form or manner. Various organisations embraced hybrid working guidelines with the belief that we come together at the workplace purposefully - to connect, celebrate, collaborate, create and care. The debate on the definition of flexibility continued, and there were conversations on what it means for ‘deskless’ workers. With hybrid work becoming commonplace, its impact on company culture has also remained a topic on the minds of business and HR leaders. In a separate but related topic of flexibility, we also saw debate on’ moonlighting’. With the pandemic, holistic wellbeing took centrestage like never before. There were also unprecedented technological innovations,including the use of generative AI. But the advent of other such technologies is imminent, and HR needs to be a part of the conversation on the value these technologies can unlock for businesses and people, as well as the governance and risks. What to look ahead to in 2024 While most of the developments from 2023 will stay, the year 2024 will see some additional trends picking up. Organisations will start focusing on ’skills’ much more than jobs and roles. There is a scarcity of skills across the world, and companies are equally challenged with successfully mapping talent to roles. If skills become the primary focus for organisations, it can unlock value with respect to both effectiveness and effiOrganisations To Focus More On Skills › Alco-Bev industry is undergoing a major transformation, pushing companies to reconsider their traditional approach
WWW.BWPEOPLE.COM BW PEOPLE DEC 2023 - JANUARY 2024 47 Progressive organisations should explore technologies in ways that allow their employees to do more meaningful and impactful work SHILPA VAID Category: FMCG ciency. A skill-based approach helps organisations act with agility by assigning employees to work quickly and helps provide career pathways to talent by giving them opportunities to develop adjacent or new skills. A trend that has been around and will pick up in 2024 is a more pronounced move towards more flexible talent. Organisations will embrace flexible and non-traditional talent. Companies will need to modify and adapt their approaches to access this talent pool. As a business partner, you will look to deliver work outcomes with a workforce mix that is not all FTEs. As a talent acquisition specialist, you will be looking to hire global talent that might want to work on a project basis and yet establish long-term relationships with them. As a rewards professional, you will need to be thinking about how to pay this assignment-based talent where work is rewarded for value and this would necessitate greater transparency in the reward systems. As someone who works in the performance and talent space, you will need to define goals differently and as an L&D practitioner, you will be thinking about how you will equip our leaders and managers to work with these diverse workforces. The third trend is linked to the above: HR teams will need to equip their leaders and people managers to lead in a very different and continually evolving world with a recomposed workforce, new technologies that improve work delivery & performance and being human-centric leaders. This would entail recalibrating expectations from our leaders and people managers and resetting their habits. Recommendations and best practices: In some way, many organisations have taken the old models of work and applied them to the hybrid workplace. Organisations can create a people advantage through this new work model by leveraging technology, reinforcing culture & values and engineering purposeful connectedness in the workplace for employees. HR teams can use artificial intelligence technologies for internal talent marketplaces, skill management, candidate assessment, retention risk analysis, coaching and so much more. Progressive organisations should explore technologies in ways that allow their employees to do more meaningful and impactful work. HR leaders need to insert themselves in conversations on the evaluation and adoption of new technologies, as they have profound implications for work and workers, instead of leaving it only to the technology function. As HR teams, we need to cultivate curiosity and co-create with the business to do more ‘tests and learns’ that generate insights for us on how to operate in this very different world. This is a very exciting time to be in the HR function.
48 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM By Sanjay Bose HR TRENDS 2023-2024 The author is executive vice president and head – HR & L&D, ITC Hotels › Employers will need to move away from fixed hours, locations, days, and other rigid employment rules HR: NOT JUST PAPERWORK, BUT PEOPLE POWER “Human resources isn’t something we do. It’s the thing that runs our business.” I n the dynamic landscape of today’s corporate world, the contribution of Human Resources to any organisation’s success is undisputed. However, over the past three years, the function has taken centrestage and there is a much wider appreciation of its contribution to organisational success—an aspect that was earlier limited largely to C-suite executives. This has also led to organisations committing themselves to many softer people issues, which have emerged as critical success factors for the business. Continuing from the pandemic-induced awareness, 2023 saw a high degree of focus on diversity, equity, and inclusion (DEI), accompanied by a long-awaited recognition of the importance of employee mental health and wellbeing. The emphasis shifted from traditional welfare measures to fostering psychological resilience and ensuring a sense of safety and security among employees. The necessity for integrating DEI into mainstream business has also increased with evolving work landscapes, transitioning from traditional in-person setups to virtual and hybrid environments. These initiatives now encompass addressing bias, discrimination, harassment, unfair wages, and other workplace issues. The significance of a financial safety net has gained prominence, especially for middle-and lower-income families, bringing financial security and planning back on the agenda of HR.
WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 49 The world is experiencing a historic transformation in how people work, where they work, and even why they work SANJAY BOSE Category: Hospitality To remain competitive, Human Resources will need to change its game by continuously developing adaptive resilience and diverse skill-sets in the workforce, including at least basic digital skills. The third biggest change that has already been upon us for some time but is expected to gain more momentum is the need to balance personal space and interests with the requirements of the job. Employers will increasingly need to move away from fixed hours, locations, days, and other rigid rules of employment and allow flexibility for individuals while keeping output and productivity at the centre of all such policies. Sector-specific insights “I am convinced that nothing we do is more important than hiring and developing people. At the end of the day, you bet on people, not strategies.” The hospitality industry in India is expected to continue its growth trajectory in 2024 and at least a few years beyond. The talent crunch that impacted the industry in the post-pandemic boom is gradually easing. However, the industry will continue to struggle with the intake of good-quality talent in the longer term due to more lucrative career opportunities in allied sectors like retail, airlines, real estate, hospitals and related service industries. There is a strong need for the industry to put in a conscious effort to align its people policies to be competitive with such industries. 2024 should see the beginning of such realignment with hospitality companies redefining their value propositions, which are more contemporary and competitive. 2024 is set to witness a notable evolution and amplification of remote work adaptation, an increased focus on enhancing employee experience, a heightened emphasis on skills development, and reskilling with mental health and wellbeing initiatives. Recommendations and best practices: The role of HR in propelling growth has never been more pivotal. As we traverse the evolving landscape, professionals should glean insights from various sectors, embracing innovative practices and strategies to confront the challenges and capitalise on the opportunities that lie ahead in 2024. The journey of HR is an ongoing narrative, and each chapter must be written with adaptability, empathy, and a keen eye for the future. The priorities for CHROs will differ based on industry, their own organisation’s life cycle maturity, and organisational objectives. However, the ability to adapt to change is going to be crucial for organisational success. HR must lead the organisation in foreseeing future trends and preparing for disruptive changes to established ways of working. 2024: Trends “In order to build a rewarding employee experience, you need to understand what matters most to your people.” Looking forward to 2024, it is a given that the factors mentioned above will continue to dominate HR’s attention. In addition, artificial intelligence, especially generative AI, is rapidly transforming HR’s capability to engage and communicate with the workforce. The coming year should see a wider acceptability and a deeper, more pervasive adoption of this technology in the flow of work. Personalisation, always-on self-service, and more comprehensive and data-driven talent ecosystems are areas that are set to transform with the integration of AI technology. The other big change that is rapidly gaining momentum is the aspect of skills in a changing world. The world is experiencing a historic transformation in how people work, where they work, and even why they work.
50 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM As we welcome 2024, it’s crucial to reflect on the significant shifts and trends that have shaped the HR landscape in the healthcare sector in 2023. The year 2023 marked a significant transformation in the healthcare industry. The sector experienced a steep ramp-up in activity with new entities entering the market and existing players expanding their capacities. This was accompanied by a notable increase in medical tourism, positioning India as a recruitment hub for international healthcare professionals. This surge in demand led to a high attrition rate among key healthcare roles, particularly nurses, paramedics and doctors, emphasising the need for a robust talent pipeline in these critical areas. One of the most pressing challenges we faced was the shortage of nurses and paramedics. This shortage not only strained our existing workforce but also highlighted the urgent need for sustainable talent acquisition and retention strategies. Furthermore, the year saw an increased emphasis on employee health and wellness, as organisations recognised the importance of supporting their staff’s physical and mental wellbeing. However, the adoption of hybrid working models, which gained traction in other sectors, found limited applicability in healthcare due to the nature of clinical work. Anticipating HR trends in 2024 In 2024, several emerging trends are likely to shape the HR landscape in healthcare: Advancement in HR technology: We anticipate a greater integration of technology in HR processes, particularly in talent acquisition, employee engagement and retention strategies. The use of artificial intelligence (AI) and machine learning (ML) in HR analytics will enable us to understand employee behaviour, engagement levels and potential turnover risks more effectively. Personalisation of employee experience: There By Ranjan Pandey HR TRENDS 2023-2024 The author is CHRO, Fortis Healthcare HR In Healthcare Must Remain Innovative › There will be an increased focus on offering personalised benefit packages