BW People Jan-Feb 2024

WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 51 Companies that demonstrate a commitment to ethical and social causes are likely to attract and retain top talent RANJAN PANDEY Category: Healthcare will be an increased focus on offering personalised benefit packages, tailored to the individual needs of employees. This approach will include customising health plans, financial wellness packages and other unique employee benefits. Commitment to social responsibility: The younger workforce places high value on organisations with a strong sense of social responsibility. Companies that demonstrate a commitment to ethical and social causes are likely to attract and retain top talent. This trend is expected to grow stronger in the coming year. Adapting to remote and hybrid work models: Although their application in healthcare is limited, remote and hybrid work models will continue to influence the sector. The challenge will be to find the right balance that accommodates both employee preferences and organisational requirements. levels of employees, including junior leaders. This approach ensures that employees grow within the organisation. Focus on personalised employee benefits: Tailoring benefits to individual needs, including healthcare, retirement, insurance, wellness programmes and on-site amenities, is essential. Recommendations for HR professionals in 2024 As we move into 2024, HR professionals must adapt to the rapidly changing landscape. Understanding and aligning with business needs is crucial. The talent crunch and technology upgrades are significant trends that HR leaders need to navigate skillfully. Upskilling and adapting to these changes are essential for designing policies and practices that align with the organisation’s evolving needs. HR professionals should have understanding of IT & digital enablements in their respective fields. Integration of technology is a key area of focus. Areas such as talent acquisition are utilising tech tools not just for sourcing but for the entire recruitment and onboarding cycle. Another critical area is employee engagement, where the use of AI tools helps in understanding the pulse of the organisation and curating group-specific strategies. In conclusion, the HR sector in healthcare must remain agile, innovative and empathetic to the evolving needs of the workforce and the industry. By embracing these trends and challenges, we can ensure a robust, efficient and caring healthcare system for the future. Enhancing diversity, equity and inclusion: There will be a continued emphasis on DEI in the workplace. We expect to see an increased integration of DEI principles into overall business strategies, as organisations strive to create more inclusive and equitable work environments. Sector-specific challenges and opportunities in healthcare HR In the healthcare industry, the post-pandemic focus on growth brings its own set of challenges and opportunities. One of the major concerns is low doctor-nurse ratio per 1,000 population in India. This, coupled with a shortage of managerial talent, poses significant hurdles to our growth plans. Attrition, especially among junior doctors and nurses, remains a major issue. With the healthcare sector undergoing numerous mergers and acquisitions, the role of HR becomes even more critical. HR functions need to plan and prepare for these changes strategically. Beyond offering competitive salaries, it’s essential to invest in workforce engagement and wellbeing. Specific trends in healthcare HR gaining prominence include: Emphasis on total employee wellbeing: This encompasses physical, mental, emotional, social and financial health. Supporting employees’ wellbeing in these areas is crucial for improving productivity, reducing absenteeism and boosting morale. Importance of learning & development: Organisations need to design their own leadership programmmes, catering to all

52 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM Flexible work dynamics Flexibility in work arrangements has become a key factor in attracting and retaining talent. Despite several organisations asking employees to return to offices, a larger number of companies are still tweaking the hybrid model and flexible work hours to identify what works best for them. A recent study in the US has revealed that companies providing hybrid work are outperforming others. The Indian jury is still out on this. Digital HR transformation The development of HR technology is a topic of interest on a global scale, with recent data indicating that the market for human capital management applications will reach $22 billion this year. Human Resource Information Systems and Applicant Tracking Systems (ATS) have already streamlined processes for recruitment, on boarding, compensation, payroll, training and performance management. But as the workforce landscape becomes increasingly complex to navigate, companies are increasingly relying on more evolved HR tech solutions. For instance, the Amber chatbot, the flagship product of Gurgaon-based start-up in Feedo, aims to help HRs find unhappy and disengaged employees in their companies. Similarly, Niva Bupa Health Insurance’s digital mobility is also powering an ‘Anytime Appraisal’ system that recognises and rewards the performance of employees based on their achievements anytime during the year. Tarun Katyal HR TRENDS 2023-2024 The author is Chief Human Resource Officer of Niva Bupa T he dynamics of human functioning also change in tandem with the corporate landscape. Human resources are now a significant player in crucial corporate decisions and are no longer on the periphery. The realisation that people are the key to an organisation’s success is driving HR transformation against a backdrop of quickly changing business environments, changing worker demographics, constantly improving technology and shifting consumer expectations. In 2023, organisations were forced to reconsider their approaches towards talent management and employee engagement as a result of shifting dynamics and global concerns, with a focus on the welfare of employees. A study by Deloitte found that companies with wellbeing programmes are more likely to retain employees and have higher levels of employee engagement. Continuing from the learnings of the last year, there will be an increased focus on employee wellbeing and the incorporation of cutting-edge technology in 2024. The shifting nature of remote work and a firm commitment to diversity, equity and inclusion will be the guiding principles for the coming year. Let’s look at some of the new trends that have gained traction in the last year that will influence 2024 and provide the foundation for the future of work. Wellbeing Of Employees To Come First › Building on the insights from 2023, 2024 will see a greater emphasis on worker wellbeing and the use of cutting-edge technologies

WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 53 Wellbeing is valued more Technology was the main factor that made it possible for office workers to become remote workers overnight. But as the boundaries between work and personal life become more permeable, many employees say that they struggle to maintain a sense of general wellbeing. This shift has given rise to a burgeoning start-up industry focused on wellbeing. The modern definition of wellbeing includes not only physical health but also mental, emotional and social wellness. Employee experience as a game-changer These days, employees are more inclined to pick a workplace that prioritises providing a positive personal experience for workers and upskilling them at every step of their career path. Efficient hire-to-retire processes are now considered a baseline expectation. Diversity and inclusion Undoubtedly, this year’s corporate buzzword has been D&I. While large companies and multinational corporations have achieved progress in this area in recent years, an increasing number of small and medium-sized businesses are now incorporating it as a strategic goal. Many studies emphasise the impact of D&I. For instance, women, LGBTQIA+ people and people with disabilities have seen a 26 per cent increase in diversity hiring over the past year, according to Foundit’s insight tracker. Additionally, the study highlights the fact that diversity hirings for LGBTQIA+ and different groups are robust each year, particularly in June, which is Pride Month. Although the number of Indian businesses hiring for diversity is rising, they still have a long way to go because they still prioritise gender and disability diversity, particularly in leadership development and hiring. Outlook for 2024 As we gear up for 2024, HR will undoubtedly continue to become highly talent-centric. Maximising human potential at work will be a key differentiating factor for organisations looking at creating a strong, committed and resilient workforce. Human resources practices are poised to undergo significant transformations in the coming years. Employee Experience 2.0 will focus on creating a more personalised, engaging and meaningful workplace where employees feel connected to their work, their colleagues and the company’s mission. It will also be crucial to create a work environment where staff members feel free to be who they really are and share their thoughts, opinions and criticisms without worrying about being judged. A fervent desire for purposeful work reverberates strongly among millennials. Providing purpose at work will be pivotal in making employees feel like they are making a difference. Creating a business value proposition from D&I will be an interesting and essential challenge for HR leaders to navigate through in the coming year. To increase trust and retention, HR must find creative and nonlinear career advancement options to empower the middle layer. And, HR technology will continue to be the backbone of these transformations. These days, employees are more inclined to pick a workplace that prioritises providing a positive personal experience for workers and upskilling them at every step of their career path TARUN KATYAL Category: Healthcare

54 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM By Deepnarayan Tripathi HR TRENDS 2023-2024 The author is Group Head HR, Tenon Group Time For HR To Convert Theories Into Actions › HR team members need to get out of the office to spend time with employees Despite the global economic challenges, India continues to drive ahead with its growth story. The IFM sector, just like any other, will ride the growth bandwagon and continue to deliver the goods. With the vast expanse of infrastructure development across both the commercial and residential sectors aided by the growth of Tier-II and Tier-III cities, the demand for IFM services like security, facility management, technical services and electronic surveillance will continue to flourish in 2024 and in the years to come. Being a workforce-heavy industry, the role of the Human Resources team in how they lead and motivate this enormous workforce will play a distinctive role in delivering illustrious services to clients and customers to fuel their organisation’s growth. The biggest issue that the IFM sector deals with is an extremely high employee turnover, which is attributed to factors like competitive but low remuneration, migrant workforce, lack of a long-term career and the challenging yet repetitive nature of the job. Given that the salaries of an overwhelming majority

WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 55 Once the word spreads about how an organisation is delivering goods through demonstrating care beyond salary, it will act as a catalyst to attract a new workforce for growth DEEPNARAYAN TRIPATHI of this workforce are driven by the minimum wages prescribed by the state governments, it cannot be the key lever in driving retention, unlike some other industries. It is for this reason that HR teams have to play an active role in applying differentiated strategies to enable their organisational growth. Employees who stay around deliver a lot of advantages, like institutional knowledge of systems and processes, the ability to train and upskill newer deployments of employees and most importantly, client trust. These advantages have a direct correlation with delivering excellent services to clients. The HR teams of the IFM organisations need to take conclusive steps to ensure more employees working at ground level are retained for longer durations. Training and development of workforce One of the first things that HR teams need to enable is the training and development of the workforce. The need is to invest in other areas impacting the lives of the workforce. Employees identified with the potential to take on larger roles should be specifically invested in with the skills and capabilities to take on those roles in the future. When colleagues are invested in these areas, not only are we keeping Category: IFM them engaged, but we are also creating a future pipeline of talent. A structured and well-communicated programme on these lines will help employees see their jobs as a means to build a career rather than just a day job with no prudence for the future. Another area that really motivates and builds loyalty for the workforce on the ground is when an organisation enables the wellbeing of their families; it is here that HR needs to play a pivotal role. There are innumerable government schemes which exist to support these groups of employees. We need to act as facilitators to educate employees about such schemes and play an active role in encouraging them to take advantage of them. As required, we may need to liaise with government and non-government institutions that support the deployment of these welfare schemes for individuals. The intent should be to deliver an overall sense of wellbeing. Once employees see the organisation’s interest in their welfare and the steps being taken to support it, they will look at their jobs as a source of fulfilment rather than just a means to earn a livelihood. Giving a personal touch HR should be on the ground and create as many opportunities as possible for building connections with every employee. The more employees feel heard, the higher the likelihood of them building loyalty towards the organisation and staying around. HR team members need to get out of the corporate office to spend a majority of their time amidst employees - converting theories into action - rewards and recognition, connecting with senior leadership, proactive grievance handling, investing in training and development, helping build careers, identifying internal talent for taking up higher roles, etc. Make these other initiatives applicable to each and every employee of the organisation rather than selected pockets. The more we build a sense of being heard and valued, the higher the probability of people staying with the organisation. One of the key features of the IFM workforce that I have noticed is that it is well connected through informal channels in every local area. Once the word spreads about how an organisation is delivering goods through demonstrating care beyond salary, it will act as a catalyst to attract a new workforce for growth. The HR teams of IFM companies have a huge opportunity to deliver differential benefits to the workforce. Service delivery by a motivated and retained employee group will act as a key value proposition for the business and will in turn be noticed by potential clients and customers, leading to new business opportunities.

56 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM By Sudeshna Sen Sharma HR TRENDS 2023-2024 The author is HR Director at Kuehne+Nagel India, Sri Lanka & Maldives Need For Emphasis On Reskilling Initiatives › HR industry’s journey in logistics and transportation reflects a dynamic evolution marked by technological integration and skill development T he HR industry has undergone significant changes over the years and has played a key role in shaping the workforce dynamics of various sectors. In the field of logistics and transport, this development was particularly remarkable. As we reflect on the journey of the HR industry throughout the years and look ahead to 2024, it becomes evident that the landscape is poised for further advancements and challenges. As the logistics and transportation industry expanded globally, the complexities associated with managing human capital also increased. The need for skilled professionals, compliance with international regulations and the advent of technology-driven solutions propelled HR to adopt a more strategic role. Additionally, the integration of technology has been a game-changer in the HR industry, and logistics is no exception. Despite technological advancements, the logistics and transportation industries face a persistent challenge: a shortage of skilled labour. The HR industry has responded by adopting innovative strategies to attract, retain and develop talent. Recognising the importance of diversity and inclusion, HR in logistics has shifted towards creating more inclusive workplaces. Companies are actively promoting diversity, not just as a compliance measure but as a catalyst for innovation and improved decision-making. The focus is not only on gender diversity but also on fostering an environment that embraces individuals from diverse cultural and educational backgrounds. The integration of technology is expected to deepen, with a focus on AI-driven analytics for workforce planning, predictive hiring and employee engagement. HR professionals will increasingly leverage data insights to make informed decisions, driving efficiency and innovation in the industry. Continued emphasis on reskilling initiatives should

WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 57 tional culture. Companies that invest in employee experience are expected to attract and retain top talent, ultimately contributing to overall business success. The pace of technological advancements shows no signs of slowing down, and HR in logistics and transportation will continue to embrace these innovations. Predictive analytics and machine learning algorithms will play an even more significant role in workforce planning, helping organisations anticipate staffing needs and identify areas for skill development. Virtual reality (VR) and augmented reality (AR) may also find applications in training and development programs, offering immersive learning experiences for employees. The fast-paced nature of the logistics and transportation industry demands a workforce that is adaptable and equipped with up-to-date skills. The HR industry’s journey in logistics and transportation reflects a dynamic evolution marked by technological integration, skills development, and a shift towards strategic people management. As we look towards 2024, the industry is poised for further advancements, with a continued emphasis on technology, reskilling, sustainability, hybrid work models, and an enhanced focus on the employee experience. HR professionals will play a pivotal role in navigating these changes, ensuring that the logistics and transportation sector remains agile, competitive and well-equipped for the challenges and opportunities that lie ahead. The year 2023 was a transformative period for HR in the logistics and transportation industries, marked by the convergence of technology, remote work dynamics and talent acquisition challenges. Moving towards the year 2024, the role of HR professionals will further strengthen. By investing in employee wellbeing, continuous technological development, sustainable workforce strategies, and continuous learning, HR professionals are at the forefront of shaping a future-oriented workforce. The journey of HR in the logistics and transportation industry in 2024 aims to be full of innovation, sustainability and a relentless commitment to the people who drive this critical industry forward. Recognising the importance of diversity and inclusion, HR in logistics has shifted towards creating more inclusive workplaces SUDESHNA SEN SHARMA Category: Logistics increase in order to reduce the skill gaps. HR will play a crucial role in identifying emerging skill requirements, collaborating with educational institutions and implementing training programmes to equip the workforce with the necessary competencies. Sustainability is emerging as a key consideration for companies in the logistics and transportation sectors. HR professionals will play a pivotal role in developing and implementing sustainable workforce strategies, addressing environmental concerns, and fulfilling social responsibilities. This includes initiatives such as eco-friendly commuting options, green supply chain practices and promoting diversity and inclusion within the workforce. Employee experience will take centre stage as HR strives to create workplaces that prioritise wellbeing, professional growth and a positive organisa-

58 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM By Indrani Chatterjee HR TRENDS 2023-2024 The author is Group Chief Human Resources Officer, Allcargo Group › Diversity, Equity and Inclusion in the workplace will gain even greater prominence in 2024 2024: YEAR OF HIDDEN WORKFORCE T he human resources landscape is undergoing an extraordinary transformation, propelled by the rapid evolution of technologies, dynamic shifts in workforce demographics, and an unwavering commitment to prioritising employee wellbeing. This pivotal moment marks the inception of a new era in the future of work, fundamentally reshaping the very fabric of how organisations approach the attraction, management, and retention of their talent. New-age data-driven HR technologies are offering the much-needed convenience and scale to HR leaders. Positioned at the crossroads of innovation and adaptability, HR professionals stand as vanguards, meticulously crafting strategies that not only adeptly navigate the evolving terrain but also assertively redefine the symbiotic relationship between organisations and their workforce. In 2024, this proactive stance paves the way for a future of work characterised by unparalleled dynamism and resilience. The year of holistic wellbeing Promoting mental health and prioritising overall wellbeing in the workplace is indeed crucial for individual and organisational success. The recognition of the interconnectedness between mental health and productivity has grown significantly in recent years. In 2024, more companies will formulate policies to help employees maintain a healthy work-life balance. In addition, companies will focus on offering their employees holistic wellbeing and meaningful career growth. Secondly, Diversity, Equity and Inclusion (DEI) in the workplace will gain even greater prominence in 2024. DEI is no longer an ethical or moral imperative, it has become strategically vital to not only attract but also retain and engage top-tier talent. In 2024, fostering inclusion and diversity will witness manifestations in the form of equal pay and career growth opportunities. Use of gender-neutral words in job descriptions is a great beginning. In 2024, the concept of DEI will assume a more inclusive connotation by way of tapping a hidden workforce or talent pool to meet the growing talent demand due to the economic and consumer demand revival. 2024 will emerge as the ‘year of the hidden workforce.’ Across industries, a significant number of individuals, including retirees and neurodivergent professionals, as well as people on career breaks, have historically been underutilised due to unfair hiring practices. This year will witness a pronounced uptick in the adoption

WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 59 In 2024, more companies will formulate policies to help employees maintain a healthy work-life balance INDRANI CHATTERJEE Category: Logistics been executed across the entire organisation to accelerate the professional growth trajectory of Gen Z talent. On the other hand, companies are launching programmes to bring back women professionals who have taken a career hiatus for personal and family reasons. Meticulously conceptualised, these programmes are strategically designed to facilitate the seamless reintegration of women professionals into the workforce after a career break. The logistics industry is also acting as a pivotal driver of economic growth, particularly in Tier-2 and Tier-3 cities, offering substantial job opportunities for blue-collar employees. Logistics companies are implementing comprehensive training programmes not only to enhance the skills of blue-collar employees but also serve as a catalyst for socio-economic upliftment in small towns. The Pradhan Mantri Kaushal Kendra model has been embraced by the industry big time to maintain the supply of trained blue collar workers. Through strategic interventions such as skill training, flexible work hours, and enabling policies, companies are ensuring their productive and positive participation in the logistics sector. Building engagement through skilling In an industry landscape which is marked by higher employee turnover, rapid market shifts, and the volatility in the global supply chains, organisations are grappling with a relentless tide of constant change. To not just survive but thrive in this dynamic environment, HR best practices demand a realignment to build stronger employee engagement. One such initiative is to launch skilling programmes. It communicates a genuine investment in the workforce, fostering a sense of value and importance among employees. A key HR trend will centre around the prioritisation of employee data privacy. The persistent shift towards remote work and digital operations underscores the imperative of fortifying the security of employee data. Companies are expected to embrace sophisticated solutions such as endto-end encryption for internal communications. Gen Z aspiration, bringing women back to work In a strategic response to the evolving workforce landscape and talent demand, the logistics companies are continuously redefining policies and processes tailored to accommodate and attract the Gen Z workforce. Recognising Gen Z’s inclination towards meaningful work and a desire to make a positive impact, the organisational priorities are now aligned with ESG principles, inclusion and digitisation. The introduction of career development programmes, rooted in principles of performance and meritocracy, has of innovative recruitment strategies to tap into the untapped potential of the hidden workforce. Companies will collaborate with agencies and non-profit organisations that work with a hidden workforce to hire people from that segment. According to Accenture HR expert Ryan Oakes, organisations deploying hidden workers are 44 percent less likely to face hurdles in finding employees with relevant skills.

60 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM By Rahul Bagale HR TRENDS 2023-2024 The author is CHRO, Force Motors Creating team bonding, collaboration, and gratification that ensures a motivated work force and desired business outcomes is the only way to be ready for creating a future work force. RAHUL BAGALE › India’s manufacturing sector is experiencing an unprecedented boom, evolving rapidly into a global powerhouse T he world of work is undergoing a profound transformation, driven by technological advancements, demographic shifts, and evolving societal values. It is interesting to see how organisations are shaping the future of work with the usage of technology, changing workforce dynamics, work practices, and evolving societal expectations. As the Indian automotive manufacturing industry undergoes significant transformations, the challenges and opportunities in talent management are becoming increasingly complex. The automotive industry is dominated by IC engines, which are now challenged by EVs and then hydrogen. This transition in technologies will create a huge demand-supply ratio and, hence, create great opportunities for Indian talent in the years to come. Current landscape and challenges India’s manufacturing sector is experiencing an unprecedented boom, evolving rapidly into a global powerhouse. This transformation, driven by visionary leadership and digital innovation, is reshaping the country’s economic narrative. The catalysts 1. Government initiatives: Spearheaded by campaigns like ‘Digital India’, ‘Skill India’, ‘Make in India’, and the PLI schemes, the government’s commitment to transforming India into a manufacturing hub has been a key driver. These initiatives have drawn substantial foreign investment and fostered innovation. 2. Technological development: The integration of Industry 4.0 technologies has revolutionised manufacturing processes, boosting productivity and efficiency. 3. Global supply chain realignment: Post-Covid, India has emerged as a strategic manufacturing location, benefiting from the global shift in supply chains. Supported by 1. Digital Revolution: Digital India has laid the foundation for a digitalfirst approach to manufacturing. Academia To Play Crucial Role

WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 61 in hydrogen technology - a technology poised to play a crucial role in the coming years. Addressing the skills gap The need for collaboration between industry and academia is essential to bridging the skills gap. The complexity of EV technology requires a more practical approach to educational curriculum. Companies are taking the initiative to propose extended learning curves, lasting six to eight months, to provide hands-on experience to new and lateral hires. The role of academia In light of the dearth of skilled EV professionals, academia has a crucial role to play. It is imperative to use a collaborative approach between industry and educational institutions. Companies are partnering with institutes to create specialised training programmes, learning interventions and nurture academic knowledge among professors. Anticipated trends and future expectations For 2024 Looking ahead, the manufacturing industry is expected to face Category: Manufacturing challenges, especially due to the shifting of talent management from IC to EV technology as it continues to evolve. Shift to hydrogen technology As the EV industry matures, there is anticipation of a shift of talent towards hydrogen technology. However, in present days, there are challenges due to an acute shortage of skill-sets in this technology, including a scarcity of skilled professionals familiar with and skilled in fuel cell technology. The industry is likely to witness an influx of expatriates with expertise in hydrogen technology. Addressing challenges through learning initiatives To prepare for the future of work, organisations are implementing a lot of learning interventions and specialised programmes for their employees to upkeep their future skill sets. These initiatives aim to equip the workforce with the skills needed for the evolving landscape of the manufacturing sector, ensuring a steady supply of talent in both EV and hydrogen technologies. In conclusion, the trends in the manufacturing industry in 2023 reflect the dynamic sector challenges, particularly in the context of EV technology. As the industry grapples with immediate challenges in talent movement and retention, it is also gearing up to address future complexities in EV battery aging and the potential shift to hydrogen technology. Creating team bonding, collaboration, and gratification that ensures a motivated work force and desired business outcomes is the only way to be ready for creating a future work force. Collaborative efforts between industry and academia, coupled with proactive learning initiatives, will play a pivotal role in navigating these challenges and steering the manufacturing sector toward a sustainable and 2.Solid Political Leadership: The strategic and action-oriented approach of India’s political leadership has been instrumental in this growth. By implementing reformative policies, investing in infrastructure, and fostering innovation and R&D, they have positioned India as a front-runner in global manufacturing. The challenges Despite these paces, India faces challenges like infrastructure and skill gaps. One of the immediate challenges highlighted is the transition in the automotive sector from internal combustion engines (IC) to electric vehicles (EV). The shortage of skilled professionals in the EV segment is creating a retention challenge for companies. The demand for EV talent is driving up compensation, making retention efforts crucial. To address the challenge of retaining talent in the EV sector, companies are adopting innovative strategies. These include sponsoring specialised training, offering retention bonuses at periodic intervals, and investing in the development of skills. Few commercial vehicle OEMs have started actively investing

62 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM I n 2024, it is both prudent and exciting for HR professionals to reflect on the evolving landscape and plan for the trends shaping our industry. The journey ahead will certainly have both challenges and opportunities and we will see this reflected in the workplace as well. 2024 trends: Embracing change in the HR landscape Significant trends, such as remote and hybrid work arrangements, workplace demographics and climate change, are impacting HR strategies and practices. For instance, AI has rapidly become a part of cultural and business conversations, so adopting a skills-first approach will be crucial in 2024. HR can help organisations navigate this by providing policies, guidance and training to ensure the AI technology is used appropriately and ethically. In 2024, the integration of technology into HR processes will take precedence in enhancing efficiency and ensuring a seamless employee experience. For example, embracing virtual and augmented reality in training programmes is one avenue we are exploring to motivate ongoing learning behaviours. Additionally, in the year ahead, navigating the changing demographics will demand a nuanced understanding of employee wellbeing and tailored initiatives to support their evolving needs. Our ‘Living Blue’ initiative, which aims to foster psychological safety at the workplace, will allow us to have honest conversations with employees about what’s valuable to them and create a workplace where employees feel valued and heard. Sector-specific insights: Tailoring strategies for success While overarching trends provide a general roadmap, in the manufacturing sector, the emphasis on sustainability will remain paramount. Our commitment to achieving net zero by 2030 aligns with the broader industry shift towards clean technologies. In our roles, we must continue to upskill our workforce to address these new demands and equally focus on championing initiatives that not only address industry-wide By Gautam Kumar HR TRENDS 2023-2024 The author is Director, People Experience, Independent & Emerging Business, AB SKF REIMAGINING BETTER TOMORROW › In the manufacturing sector, the emphasis on sustainability will remain paramount challenges but also contribute to sustainability. HR leaders can help prepare for a future workplace that embraces environmental, social and governance practices by aligning sustainability with business objectives and making it part of the workplace culture. Recommendations and best practices With the speed of change in the world, the HR leader’s playbook has shifted and there

WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 63 HR leaders should take the lead in fostering a culture of continuous learning and development while caring for the mental health of employees GAUTAM KUMAR Category: Manufacturing are a lot of areas that require immediate focus. However, learning and development take precedence in building a competitive advantage. By fostering excellence in leadership and succession planning, teams can be equipped with the multidimensional experience needed to thrive in a rapidly changing world. This cross-cultural, cross-functional and cross-industry exposure ensures that leaders are not only resilient but also capable of driving innovation across diverse landscapes. Importantly, HR can pave the way for organisations to take a holistic approach to promoting diversity, equity and inclusion at the workplace. This goes beyond training and focusses on eliminating salary and promotion disparities and forces systemic change. Our efforts have helped us progress towards increasing gender diversity in leadership roles. There is a need to focus on creating effective leaders and nurturing a winning culture. This will continue to be a cornerstone in building successful teams and fostering a high-performance culture as we move into 2024. Conclusion To manage the changing environment and plan for more stability, HR leaders should take the lead in fostering a culture of continuous learning and development while caring for the mental health of employees and building in diversity and inclusivity, as well as sharpening the focus on how best to incorporate artificial intelligence into the mix. Going forward, our commitment to purpose and values will not only steer our HR strategies but also enable us to create a workplace that goes beyond excellence, fostering a community where every individual thrives.

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IN ASSOCIATION WITH Watch our captivating video series, BW People HR Voices, where industry experts share their insights, experiences and best practices across a wide range of HR topics. Get insipired and learn from the best in the field. 1. Prof. TV Rao, Chairman - TVRLS, Founder President - NHRDN; 2. Manu Wadhwa, CHRO, Sony Pictures; 3. Prem Singh, President Group-HR, JK Organisation; President, NHRDN; 4. P. Dwarakanath, Former Chairman, CSK Consumer Healthcare Ltd.; 5. Amit Malik, President, South Asia & Pacific, WadzPay Worldwide; 6. Rajendra Mehta, Global CHRO, Suzlon Group; 7. Vikram Bector, President & Group CHRO, Piramal Group; 8. Dr. C. Jayakumar, Executive VP & Head Corporate HR, Larsen & Toubro; 9. Madhu Srivastava, CHRO, Sony Pictures Network; 10. Piyush Mehta, CHRO, Genpact; 11. Simin Askari, Senior VP-HR & Business Excellence, DS Group; 12. Yuvaraj Srivastava, Group CHRO, MakeMyTrip; 13. Paul Dupuis, Chairman & CEO, Randstand Japan; 14. Manmeet Sandhu, HR Head, PhonePe; 15. Emmanuel David, MD Grid International India, Board Member Aster DM Healthcare, Retd Director, Tata Management Training Centre. FOR PARTNERSHIP: Talees Rizvi | +91 93106 34007 | [email protected] FOR SPEAKING OPPORTUNITIES: Reeti Gupta | +91 98996 10630 | [email protected] Ashish Kumar | +91 97179 22747 | [email protected] FOR EDITORIAL: Savi Khanna | +91 96542 09086 | [email protected] Krishnendra Joshi | +91 9039044648 | [email protected] Sugandh Bahl | +91 99997 15607 | [email protected] IN ASSOCIATION WITH Watch our captivating video series, BW People HR Voices, where industry experts share their insights, experiences and best practices across a wide range of HR topics. Get insipired and learn from the best in the field. 1. Prof. TV Rao, Chairman - TVRLS, Founder President - NHRDN; 2. Manu Wadhwa, CHRO, Sony Pictures; 3. Prem Singh, President Group-HR, JK Organisation; President, NHRDN; 4. P. Dwarakanath, Former Chairman, CSK Consumer Healthcare Ltd.; 5. Amit Malik, President, South Asia & Pacific, WadzPay Worldwide; 6. Rajendra Mehta, Global CHRO, Suzlon Group; 7. Vikram Bector, President & Group CHRO, Piramal Group; 8. Dr. C. Jayakumar, Executive VP & Head Corporate HR, Larsen & Toubro; 9. Madhu Srivastava, CHRO, Sony Pictures Network; 10. Piyush Mehta, CHRO, Genpact; 11. Simin Askari, Senior VP-HR & Business Excellence, DS Group; 12. Yuvaraj Srivastava, Group CHRO, MakeMyTrip; 13. Paul Dupuis, Chairman & CEO, Randstand Japan; 14. Manmeet Sandhu, HR Head, PhonePe; 15. Emmanuel David, MD Grid International India, Board Member Aster DM Healthcare, Retd Director, Tata Management Training Centre. FOR PARTNERSHIP: Talees Rizvi | +91 93106 34007 | [email protected] FOR SPEAKING OPPORTUNITIES: Reeti Gupta | +91 98996 10630 | [email protected] Ashish Kumar | +91 97179 22747 | [email protected] FOR EDITORIAL: Savi Khanna | +91 96542 09086 | [email protected] Krishnendra Joshi | +91 9039044648 | [email protected] Sugandh Bahl | +91 99997 15607 | [email protected]

66 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM By Amit Das HR TRENDS 2023-2024 The author is CHRO, Bennett Coleman &Co Workplace Demographics To Continue To Diversify › Training methods will also undergo a transformation, with a shift towards personalised and continuous learning Organisations faced a myriad of challenges in 2023, from economic uncertainties and geopolitical tensions to evolving workplace dynamics and technological advancements. These challenges compelled organisations to adapt their strategies, innovate their practices and prioritise the wellbeing of their employees. The media industry, a dynamic sector shaped by evolving consumer behaviours and shifting economic realities, experienced a significant transformation in recent years. HR professionals in the media industry had to adapt and innovate to ensure their organisations remained competitive and successful. As we welcome 2024, it is crucial to reflect on the transformative developments that shaped the HR landscape in the past year and explore the critical factors that will continue to influence the HR profession in the new year. Key HR trends in 2023 The HR landscape in 2023 witnessed a transformative shift, driven by the advent of generative AI, the need to manage a multi generational workforce and an increased focus on employee wellness and wellbeing. Generative AI’s ability to automate tasks, generate content and provide personalised insights has revolutionised HR processes, from talent acquisition to performance management. Managing a multi generational workforce, spanning from baby boomers to Gen Z, also emerged as a key challenge for HR in 2023. Each generation brings unique perspectives, expectations and communication styles, requiring HR leadership to adapt strategies to attract, engage and retain talent across the generations. Employee wellness and wellbeing took centre stage in 2023, as organisations recognised the impact of physical, mental and emotional wellbeing on productivity and overall business success. Implementing initiatives to promote work-life balance, provide mental health resources and create a supportive work environment that prioritises employee wellbeing thus gained pre-eminence in the past year. The media industry embraced technology at a rapid pace during the past year. The rapid adoption of technology transformed traditional roles and created new ones. HR professionals were required to anticipate these changes and adapt talent acquisition and development strategies accordingly. Upskilling and reskilling

WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 67 HR professionals must embrace dynamic, adaptive learning platforms that cater to individual needs and support ongoing skill development AMIT DAS the workforce to meet these demands thus emerged as a key imperative in media organisations during the past year. HR trends poised to shape 2024 The new year presents HR with a window of opportunity to redefine the significance of the function. Key trends that are poised to shape the HR landscape in 2024 are: Technology will continue to be a driving force, with advancements in AI, machine learning and automation revolutionising HR processes. The challenge lies in harnessing these technologies responsibly. Training methods will also undergo a transformation, with a shift towards personalised and continuous learning. HR professionals must embrace dynamic, adaptive learning platforms that cater to individual needs. Workplace demographics will continue to diversify, with generational differences becoming more pronounced. HR strategies must be agile enough to accommodate the unique Category: Media expectations and preferences of multiple generations within the workforce. The gig economy is expected to continue to grow in 2024 and this will have a significant impact on industries. HR professionals must develop strategies for managing gig workers, such as providing them with the same benefits and opportunities as traditional employees. The growing importance of talent analytics and the enhancement of employee experience will remain in focus in the coming year, requiring HR professionals to leverage data-driven insights for strategic decision-making and prioritise the holistic wellbeing of employees. Within the specific context of the media industry, the general trends and challenges outlined above manifest in unique ways. Media organisations need to cater to a diverse audience set with evolving preferences in terms of modes and channels through which they consume content. The workforce should therefore be capable of producing versatile content across platforms and effectively work as multimedia journalists. Multimedia journalists need to be proficient in a variety of skills, including writing, editing, research, visual storytelling, critical thinking and ethical awareness. Developing these skills within the workforce is a key imperative for HR professionals in media to become successful going forward. Recommendations and best practices In the face of these challenges and opportunities, a few best practices that can guide HR professionals in 2024: Hyper-personalisation of benefits and engagement programmes: Prioritise personalisation to cater to a multigenerational and diverse workforce. Leverage technology and data to design interventions that address the unique needs of each segment. Agile organisational structures: Implement modular structures that offer portfolio career opportunities, encouraging intra-preneurs. This requires responsive policies and capabilities built on empowered teams operating with alignment, accountability, expertise, transparency and collaboration. Talent continuum development: Build and nurture a talent continuum with multiple paths of talent engagement. Engage platform workers and enhance gig opportunities with innovative Reward-Capability-Benefits infrastructure. Develop a structure allowing movement across roles and types of engagement. Upskilling/re-skilling across functions: Prioritise capacity and capability building for sustainable organisational growth. Design capability-building programmes with a performance-first approach, efficiently helping individuals perform better in their current roles while enabling growth towards future roles. In conclusion, the future of work calls for creating more human-centric workplaces, developing purpose-driven jobs and establishing conditions that make it easy for employees to love their work.

68 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM By Sahil Mathur HR TRENDS 2023-2024 The author is CHRO (People and Culture) at InMobi Group Change Is The Only Constant, Even For HR › In 2024, the HR landscape demands a resolute commitment to embracing innovative strategies I n the dynamic realm of Human Resources, the year 2024 is poised for transformative shifts. The pandemic has acted as a catalyst, forcing organisations to re-evaluate and prioritise employee wellbeing as a strategic imperative. Beyond the conventional metrics of performance and productivity, the focus is now shifting towards creating a work environment that not only prioritises but actively nurtures mental and emotional resilience,as well as overall wellbeing. Along with this, the traditional paradigms governing HR practices are undergoing a profound evolution, driven by advancements in HR technology. In 2024, the HR landscape demands a resolute commitment to embracing innovative strategies. Trends for 2024 One of the pivotal trends shaping the HR landscape in 2024is the strategic integration of technology, more specifically Artificial Intelligence (AI). The integration of AI into HR practices can revolutionise the domain. Consider Talent Acquisition as an example.HR professionals are increasingly leveraging AI’s analytical power to decipher vast datasets and identify signals that lead to the discovery of the right talent. This not only streamlines the recruitment process but also effectively addresses crucial skillset gaps crucial for organisational success. Moreover, the strategic use of AI is set to extend beyond recruitment, offering the opportunity for HR to play a guiding role in individual growth within an organisation. By aligning employee strengths with business goals, HR can unlock the full potential of each team member. Generative AI is poised towield a significantly impact on total rewards strategies within HR where benefits and compensation can be tailored to individual employee preferences and performance metrics, leading to higher satisfaction among them. Another significant trend for 2024 revolves around the concept of holistic employee development. The post-pandemic landscape has ushered in a paradigm shift in how employee development is

WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 69 true potential. At InMobi group, we thrive on principles of ownership, freedom with responsibility and a flat organisation structure wherein all leaders are approachable at any given point. We have also instituted a programme called LEAP whichis a manifestation of our commitment to adaptability and innovation. It provides the employees flexibility to shift roles or functions at any time of the year. Recommendations and best practices Redefining the role of HR as a mainstream function is not just advisable but imperative for organisational success. The traditional confines of HR as overseers of administrative tasks are obsolete. HR leaders must now embody a business-centric approach, proficient in leveraging tools and processes and adept at leading from a data and analysis perspective. HR leaders must position themselves at the forefront of shaping and nurturing this culture, ensuring its alignment with the core values and goals of the organisation. Moreover, the evolution of the industry has been profound, especially in the post-Covid landscape. All theories and methodologies that worked in the past have been disrupted. The industry has shifted to a reward-based system where employees seek alignment with their personal and professional values. In an era where conventional methods no longer suffice, HR professionals must embrace change and adopt unconventional strategies. As we stand on the cusp of 2024, the role of HR is poised to become more critical than ever. The trends outlined here are not just buzzwords but essential guideposts for navigating the future of work. To commence the new year, it’s time to shed the term ‘Human Resources,’ and pivot towards ‘People and Culture’ as a primary focus. In an industry where change is the only constant, a robust and adaptable culture serves as the glue that binds our organisation together SAHIL MATHUR Category: Advertising & Marketing perceived. No longer confined to the realm of professional skills alone, there is a profound shift towards embracing holistic wellbeing, where mental, spiritual and emotional aspects take centre stage in HR discussions. This shift is not merely a reaction to the pandemic; rather, it reflects a recognition of the seismic shifts, both voluntary and involuntary, that have reshaped the workforce. Alongside these transformative shifts,a notable evolution is anticipated in Learning and Organisational Development (L&OD) practices. The conventional one-size-fits-all approach is making way to personalised, bite-sized learning experiences. The objective is to deliver effective and personalised information in small bytes, fostering skills that set individuals apart from artificial intelligence. As organisations embrace such tailored approach to learning, they are poised to equip their workforce with the skills needed to navigate an increasingly complex and dynamic business landscape. Sector insights The adtechspace is characterised by its reliance on understanding user sentiments within a crowded space where everyone vies for attention. In this dynamic environment, the ability to identify thought leaders is undergoing a profound transformation. It’s no longer about hiring based solely on experience and past laurels. Instead, the focus is now shifting on finding individuals who not only align with the mandates,but also demonstrates a willingness to learn and grow from the outset,providing them with the right avenues for skill and expertise development, regardless of their age or traditional markers of experience. Culture stands as the cornerstone of every facet within our organisation. In an industry where change is the only constant, a robust and adaptable culture serves as the glue that binds our organisation together. It acts as the guiding force that harmonises diverse talents toward common goals and values, empowering employees to discover their

72 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM By Urvi Aradhya HR TRENDS 2023-2024 The author is CHRO, K Raheja Corp Corporate Social Responsibility is increasingly becoming a strategic component of business operations URVI ARADHYA › By supporting women in their professional growth, we contribute to a more balanced and dynamic workplace I n the dynamic real estate industry in India, we are keenly aware of the evolving trends that are shaping our workplaces. The year 2024 is set to bring a host of changes, influenced by technological advancements, shifting workforce demographics and a growing emphasis on employee wellbeing and sustainability. These are not just passing trends; they are integral to building a more efficient, equitable and engaging work environment. Let’s delve into these trends that are poised to redefine our workplaces in the coming year. A holistic approach to employee wellbeing The concept of employee wellbeing is undergoing a fundamental shift. We are moving beyond the traditional confines of physical health insurance to embrace a more comprehensive approach that includes emotional sustainability and mental health. This involves providing confidential resources, such as counselling and therapy services and fostering an unbiased, inclusive environment. In today’s hybrid Transforming Workplaces work environments, acknowledging and actively supporting mental health is crucial. It is about creating a culture where employees feel valued, heard and supported in all aspects of their wellbeing. The rise of artificial intelligence Artificial intelligence (AI) is a powerful tool that is reshaping our approach to talent acquisition, employee engagement and workforce management. AI’s role in automating routine tasks allows employees to focus on areas requiring human ingenuity, like problem-solving and innovation. As we adopt AI, it is imperative to develop clear policies covering its ethical use and security. This digital transformation is not about replacing humans but enhancing their capabilities and efficiency. Empowering women in the workplace Empowering women is a critical aspect of our workforce strategy. We are committed to providing equitable opportuni-

WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 73 Category: Real Estate oration and provide flexibility, we are not only enhancing productivity but also making our workplaces more appealing to current and prospective employees. Sustainability in the workplace Organisations are committed to eco-friendly and sustainable office designs, incorporating elements like natural light, green spaces and eco-friendly materials. These features not only reduce our environmental footprint but also significantly enhance employee wellbeing and productivity. Catering to a diverse workforce With a significant portion of the workforce soon to be comprised of millennials and Gen Z, adapting to their work preferences is crucial. This demographic is more comfortable with using technology to automate workflows, making it essential for us to stay ahead in technological adoption. Another talent pool to ensure a diverse workforce is the inclusion of disabled colleagues. They bring fresh perspectives and more importantly, problem-solving abilities, which contribute to innovation and foster creativity. Prioritising data privacy In an era where data is king, ensuring its privacy is paramount. As we integrate more AI into our workflows, safeguarding employee data becomes increasingly important. In conclusion, the year 2024 is set to be a transformative period for the real estate industry in India. By embracing these trends, we are not just adapting to change; we are leading it. The industry is committed to creating a workplace that is technologically advanced, employee-centric and adaptable to the evolving needs of our workforce and the market. ties, mentorship programmes and leadership roles for women. Programmes like leadership enhancement and reintegration training for those returning from career breaks are examples of our dedication to building a diverse and inclusive workforce. By supporting women in their professional growth, we contribute to a more balanced and dynamic workplace. Corporate Social Responsibility as a core value Corporate Social Responsibility is increasingly becoming a strategic component of business operations. It is about community building and employee engagement through collaborative activities. These initiatives resonate with our workforce, particularly as we see a growing desire among employees for their workplaces to reflect their values and contribute positively to society. Transforming workspaces The traditional office is giving way to more collaborative, flexible spaces. This transformation is driven by the need to foster innovation and creativity. By redesigning our work environments to encourage collab-

74 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM By Manu Arora HR TRENDS 2023-2024 The author is Head of HR at Magicbricks Mindfulness practices, stress reduction workshops and resilience training will also become workplace norms to further foster a supportive culture MANU ARORA Virtual Hiring Practices To Remain Popular › The fusion of technology and HR is poised to deepen, with a spotlight on leveraging AI-driven insights for talent acquisition and enhancing the employee experience A thriving industry not only ensures growth on its own but also stimulates ancillary sectors. A bellwether industry like real estate is no outlier, as it boosts other industries like consumer goods, logistics, furniture, lighting and financial services and is one of the primary employers in the Indian economy. Today, real estate transcends the conventional realms of buying, selling and renting. The infusion of technology has propelled real estate players to expand their horizons as service providers. The transformation of real estate has adeptly attracted talent from diverse sectors, seamlessly assimilating them into its workforce. Today, real estate is attracting young talent from consumer products, media, consulting, services, IT and consumer internet to name a few. We are also observing a growing interest from students who, with digital integration, view the sector as forward-thinking, offering substantial and enduring career prospects. With the changing demographics of employees in the sector, 2023 presented not only challenges with the evolving needs of a dynamic workforce, but it also opened up new possibilities for HR innovation in the sector. The relentless march of technology continued to redefine HR practices, heralding an era where AI, automation and data analytics emerged as pillars underpinning strategic HR decision-making. Furthermore, health and wellbeing took centrestage, demanding a more holistic approach towards employee welfare, urging organisations to prioritise mental wellness initiatives and cultivate supportive environments conducive to optimal performance.

WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 75 Holistic employee wellbeing Across industries, the commitment to nurturing resilience and fostering wellness stands as a top priority for HR. Elevating the vitality and productivity of our workforce transcends mere professional realms; it’s the cornerstone of a thriving organisational ecosystem. In 2024, these initiatives will continue to integrate into the DNA of companies and one can expect strategic investments in AI-driven wellness platforms, leveraging data analytics to tailor individualised health programmes and group engagement on wellness priorities. With wellness technology advancements, like wearables and virtual wellness experiences, engagement strategies are also being redefined to ensure comprehensive support and a healthier, more inclusive corporate environment. Mindfulness practices, stress reduction workshops and resilience training will also become workplace norms to further foster a supportive culture. Diversity, equity and inclusion For many years, most of the real estate workforce was dominated by men. A report by JLL and NAREDCO determined that women make up only 12 per cent of the real estate workforce in India. However, as the industry is transforming and the talent pool increasing, the talent demographics are also changing. With concerted efforts towards The fusion of technology and HR is poised to deepen, with a spotlight on leveraging AI-driven insights for talent acquisition, enhancing employee experience diversity, equity and inclusion, 2024 holds the potential to harmonise diverse perspectives and become a vital component essential for our ongoing growth and evolution. Innovating HR practices through technological synergy Through personalised learning pathways and refining performance evaluation methodologies, as well as engagement of talent through digital mediums. Training and development methodologies will undergo a significant evolution, embracing immersive learning experiences and adaptable training formats to cater to the diverse needs of a dispersed workforce. These strategies are industry-agnostic and will help maintain a fine balance between embracing innovation and upholding the industry’s traditional ethos in real estate as well. With a clear focus on talent retention and development strategies, there is an evident shift towards prioritising skill-based hiring over traditional degrees and sectoral familiarity, establishing clear career progression paths and providing cross-functional exposure and purpose-driven roles. These practices will not only address the challenges of talent retention but also harness the opportunities presented in the dynamic job market of 2024. Category: Real Estate Hence, a retrospective analysis of the challenges and transformations of 2023 becomes imperative to shape a future resonant with advancement and excellence. As we gaze into the horizon of 2024, HR stands at the precipice of a new chapter characterised by emerging trends. Transformative journey in talent acquisition With skill-set requirements diversifying, today’s recruitment efforts focus on sourcing individuals with specialised expertise tailored to critical industry needs. This has given a meteoric rise to leveraging the pervasive influence of social media to actively engage with the talent pool and amplify their employer brand. Beyond the experience that individuals bring to the foray and the new organisation, it is their capabilities and a growth mindset which will prove to be a foundation of success even in a new industry. Virtual hiring practices will also continue to become popular in the recruitment landscape, facilitating seamless interactions and assessment, transcending geographical barriers and fostering a more efficient and inclusive hiring process.

76 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM By Tatsuo Kinoshita HR TRENDS 2023-2024 The author is CHRO and VP, Mercari Inc ESTABLISHING EFFECTIVE FEEDBACK MECHANISMS A MUST › To attract and retain top-tier talent, organisations must go beyond conventional practices As we reflect on the HR landscape of 2023, some significant changes have shaped the way companies manage their most valuable asset – their people. The interplay of in-person and remote workstyles emerged, demonstrating resilience and agility in industry leaders. Gender balance took centre stage, alongside recognising the significance of Gen Z in talent acquisition. Let’s break down what happened and what’s likely coming up. Yearly roundup (2023) Intensified talent competition: Many tech companies went through tough times, with lots of people losing jobs overnight. This was a period of recalibration that provided an opportunity for a strategic evolution. This phase pushed for a proactive exploration of new technologies. The focus was on attracting talented individuals wellversed in cutting-edge technologies, including the utilisation of Large Language Models (LLM). Hybrid work styles: Work shifted between in-person and remote setups and this called for a more nuanced approach to employee engagement. Companies that adeptly balanced both options demonstrated resilience and agility, creating successful examples that positioned them as industry leaders. Companies found a middle ground, balancing both options. Those who did this well showed they could adapt, making them leaders in their industries. Focus on gender balance and Z generation: Gender balance emerged as a critical focus area for HR strategies. Organisations increasingly recognised the importance of fostering diversity, with a particular emphasis on gender inclusivity. Companies that created spaces for diverse talents, by making sure their policies are aligned with promoting gender inclusivity and prioritising the younger generation, became the top employers, signaling a shift toward comprehensive recruitment capabilities. 2024 trends More competition for talent: With hiring picking up again after layoffs, companies are challenged to distinguish themselves as desirable employers. Necessitating innovative recruitment strategies and enticing benefits to attract and retain the best professionals in the field. The imperative now is not just to hire but to stand out as a sought-after employer. To attract and retain top-tier talent, organisations must go beyond conventional practices, offering enticing perks and cultivating a workplace culture that resonates with high-calibre professionals. Technology keeps evolving: In 2024, we’ll see even more use of advanced tech in HR. Automation, AI-driven hiring and tools like LLM will become more common. HR professionals need to stay abreast of these advancements to streamline operations and remain competitive in finding and hiring the right people.

WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 77 Continuous learning initiatives: In today’s rapidly evolving professional landscape, where skills quickly become obsolete, encouraging a culture of ongoing learning is paramount. It empowers employees to adapt to industry changes, stay ahead of technological advancements and enhance their skill-sets. This not only boosts individual career development but also contributes to the company’s overall growth and competitiveness. In essence, a commitment to continuous learning aligns employees and organisations with the forward momentum of progress. Feedback Mechanisms: Establishing effective feedback mechanisms is non-negotiable in modern workplaces for several compelling reasons. It serves as a vital pulse check on employee satisfaction, allowing organisations to understand the prevailing sentiments and address concerns promptly. This real-time insight is invaluable for preventing potential issues from escalating. And it demonstrates a commitment to employee wellbeing, signalling that their opinions matter and are integral to organisational improvement. In summary, well-structured and updated HR policies form the bedrock of a positive workplace culture. They serve as a compass, outlining the expectations and values that underpin employee interactions. HR is at a turning point with new tech, diverse hiring and figuring out how to make hybrid work styles work for everyone. Beyond compliance, HR policies play a very important role in talent management. Reassessing and refining these policies in response to evolving employee needs ensures alignment with contemporary work expectations. CHROs who proactively adapt to these changes will not only weather the challenges but also emerge as architects of progressive and resilient workplaces. HR leaders will need to develop policies that strike a balance between in-person and remote work, ensuring employee satisfaction and maintaining organisational productivity TATSUO KINOSHITA Category: Retail Continuous upskilling in technology is a prerequisite, ensuring that HR remains not only operationally efficient but also strategically positioned to navigate the evolving demands of the hiring process. Hybrid work stays: The hybrid work model is here to stay, but the focus will shift to standardising practices. HR leaders will need to develop policies that strike a balance between in-person and remote work, ensuring employee satisfaction and maintaining organisational productivity. Regularly assess and fine-tune policies based on feedback, ensuring they evolve with the changing needs of the workforce. Inclusive workplaces as a competitive edge: Creating an inclusive workplace is not just a box to check. Organisations that champion inclusivity, not only in terms of gender but across all demographics, will gain a competitive edge. The ability to attract and retain a diverse workforce will be a hallmark of successful HR strategies. Inclusive practices not only reflect a company’s ethos but also enhance its appeal and resilience in a dynamic market. Recommendations and best practices Wellness programmes: The constant connectivity and fast-paced nature of the tech industry can lead to heightened stress levels and potential burnout among employees. Wellness programmes that encompass physical and mental wellbeing initiatives offer a crucial counterbalance. Stress-management workshops further empower individuals to navigate challenges effectively. These programmes should go beyond being mere perks.

78 BW PEOPLE DEC 2023 - JAN 2024 WWW.BWPEOPLE.COM By Jacob Jacob 2023: Talent war intensified The year 2023 brought the focus back on one of the key growth pillars for all organisations: talent and its rightful impact. In 2023, the talent war intensified across industries, with many boards debating the topic and charting out a plan. Companies have been grappling to acquire the right talent to manage operations and on-board leadership talent that makes a difference with the right ingredients of a leadership brand to accelerate business and grow the enterprise. The reality that has emerged from this phase is that there is not enough talent available in the industry to support the massive expansion drive undertaken by companies. The way to bridge the talent gap is to grow from within and simultaneously attract talent from other industries and retain them. Therefore, talent development and retention became the top priorities for all growth-focussed organisations. Training modules had to be redesigned to train talents hired from other industries. As talent flight is hovering at over 20 percent, there is an urgent need to relook at all employment and workplace-related policies and make them aligned with the needs and aspirations of the employees. Productivity and profit-linked incentive schemes need to be made more competitive. There should be a clear path to career progress and opportunities for skill development all around. The key is customisation. Enhancing employee experience became extremely critical for attracting and retaining talent and building a stronger Employer Value Proposition (EVP). A great employee experience boosts employee engagement and productivity big time. In multi-location operations, companies are increasingly using new-age technologies to build smarter workplaces and collaboration HR TRENDS 2023-2024 The author is Group CHRO of Malabar Group › The development of home-grown talent will be a key differentiator HR Will Have New Role To Play HR Will Have New Role To Play

WWW.BWPEOPLE.COM BW PEOPLE DEC 2023 - JAN 2024 79 platforms. ‘Energy, experience and potential’ has become the new mantra to build talent capital. The organisational structures have also undergone key changes, as companies are re-evaluating the practicality of some performance metrics and employee engagement. 2024: Digital transformation, bridging the skill gaps HR is the key talent facilitator for organisational processes and sustainability. In 2024, we will witness more and more companies embracing digital transformation to make a deeper impact on the workplace, workforce and HR dynamics. By utilising new-age data-driven technology and data analytics, HR leaders can develop deeper insights into Category: Retail Recognition of the skill gaps and the implementation of appropriate skill sets to bridge the gap will be a key test for any organisation JACOB JACOB human actions and formulate their internal communication strategies effectively. HR professionals will certainly have to upgrade their skills in various facets of change management. Skilling across the organisation will also become a major focus area. Employees will also see a significant change in the simplification of administrative processes. HR solutions will become more customised. HR leaders have started realising that a one-size-fits-all approach won’t yield the desired results. Recognition of the skill gaps and the deployment of appropriate skill sets to bridge the gap will be a key test for any organisation. They need to roll out initiatives in sector, category and skill-set to build better employee engagement. We’ll see more concerted efforts to make career immersion programmes and cultural enhancement initiatives more powerful. As quality talent is scarce at the moment, tolerance levels for talent will see a huge upturn. Having said that, companies will continue to focus on results and that’s where HR leaders will have to walk on a tightrope. With rapid expansion in retail and manufacturing in the sector, the key focus will be on retention over attraction. Sector-specific insights: Specialist over generalist The gems and jewellery industry will also look outward for talent acquisition. Thanks to digital transformation, new roles will emerge in HR, such as HR digital architect. In the retail business, the focus will shift to the effective scheduling of resources based on daily data and purchase trends. Specialist focus will prevail over generalist focus. The development of homegrown talent will be a key differentiator. The practice of listening to what others say will become prevalent. As a result, there will be a stronger emotional connection with the workforce. Leadership needs to work more closely with their respective teams. HR leaders will need to add value to the integration and harmonisation of processes, policies and more importantly, people’s collaboration. Recommendations: Understand the employee mindset The HR landscape will revolve around managing enterprise expectations amid expansion. All players are in an aggressive expansion mode and the role of HR will be the key to supporting this growth with the right talent deployment. A company can maintain a competitive advantage for a longer period of time with a better talent pool. Talent attractiveness is no longer about your brand and product. HR practitioners have to manage effective culture deployment, talent output and desired productivity. Reward programmes are no longer about instant gratification. Understanding the mindset of what an employee wants is key. In addition, ESG will gain huge prominence. Specific strategy deployment and effective implementation will be the keys. According to the Deloitte Economics Institute, an estimated 43 per cent of workers in the Asia-Pacific region are recruited in vulnerable industries impacted by climate change, such as agriculture, conventional energy, manufacturing, transportation and construction. We are already witnessing changes that are affecting business continuity. More than best practices, what will be at the core will be sustainable practices.

80 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM By Kanchan Sharma HR TRENDS 2023-2024 The author is VP - People, Urbanic India ENVISIONING D&I POLICIES FOR WORKPLACE 2.0 › One of the fundamental shifts in this new era is the evolution from a compliance-driven model to a culture-driven strategy As we stand on the cusp of Workplace 2.0, the dynamics of the modern workplace are undergoing a profound transformation. This era demands a reinvigorated approach toward diversity and inclusion (D&I) policies. As we envision D&I policies for Workplace 2.0 in 2024, it is imperative to understand that diversity extends beyond demographics. It encompasses a rich tapestry of experiences, backgrounds and perspectives. Thus, our approach to D&I must transcend the limitations of mere compliance and become an integral part of our organisational culture. One of the fundamental shifts in this new era is the evolution from a compliance-driven model to a culture-driven strategy. Embracing diversity should not be a checkbox exercise to fulfill statutory requirements; it should be ingrained within the very fabric of our organisation. The journey toward an inclusive workplace begins at the recruitment phase. To widen the talent pool, measures should be instituted to combat biases in hiring processes. This proactive approach ensures that our workforce reflects the richness and diversity of the world we live in.

WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 81 Recruitment is just the initial step. The true test of our commitment to diversity lies in retention and growth KANCHAN SHARMA Category: Retail However, recruitment is just the initial step. The true test of our commitment to diversity lies in retention and growth. We should institute employee resource groups, regular diversity dialogues and comprehensive leadership training programmes focused on fostering an inclusive environment. These initiatives will not only increase employee engagement but also spark a culture of innovation within organisations. Correspondingly, in the technologically driven landscape of a rejuvenated workplace, we should recognise both the advantages and challenges that technology poses to D&I efforts. While technology enhances flexibility and connectivity, it can also, at times, perpetuate biases. Therefore, in 2024, our D&I policies should incorporate regular technology audits to ensure that our systems are designed with inclusivity in mind. Additionally, with remote work becoming more prevalent, our policies should be designed to bridge geographical, cultural and temporal divides, ensuring that every employee feels a sense of belonging. Furthermore, cultural competence is a cornerstone of a truly inclusive workplace. We should actively promote the celebration of diverse cultures, customs and perspectives. Cross-cultural training initiatives and the acknowledgement of various cultural celebrations serve as catalysts for building cohesive teams where differences are not just tolerated but embraced. The leadership’s role in driving D&I initiatives cannot be overstated. In 2024, leaders will be not merely advocates but active participants in creating an inclusive culture. Leaders who champion D&I efforts set the tone for the entire organisation, creating a ripple effect that permeates every level. Despite the strides we have made, challenges persist. Resistance to change, unconscious biases and the need for continuous awareness are hurdles we face. However, these challenges are not roadblocks but rather opportunities to reaffirm our commitment and innovate our approach towards D&I. Dedication to inclusivity doesn’t end with hiring practices; it permeates the very essence of brand identity. Inclusivity should be the guiding principle, from advertising campaigns to product lines. Moreover, as Workplace 2.0 unfolds, we should recognise the need for continuous learning and adaptation. D&I policies are not static; they evolve in tandem with societal changes and employee feedback. Regular surveys, focus groups and feedback mechanisms should be in place to ensure that our strategies are effective and resonate with the diverse voices within our organisations. Lastly, the impact of our inclusive policies goes beyond the confines of our organisations. We should actively engage in partnerships and collaborations with external organisations advocating for diversity and inclusion. By contributing to community programmes, participating in industry forums and sharing our best practices, we should aim to foster a broader cultural shift towards inclusivity within the fashion and corporate sectors. Envisioning D&I policies for Workplace 2.0 in 2024 requires a holistic, culture-driven approach. It is about creating an environment where diversity is celebrated and where inclusion is not just an initiative but a way of life. We should be unwavering in our commitment to this vision, understanding that a truly inclusive workplace is not just desirable but imperative for sustained success in the ever-evolving landscape of the future.

82 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM By Soma Pandey I n the dynamic world of human resources, staying ahead of trends is not merely a choice; it’s a necessity for sustainable success. With the proliferation of new ways of working and the revolution of AI and LLMs, the very nature of the relationship between employees and employers is changing. Employees are expecting organisations to not only provide enriching work but also continuous upskilling, accelerated careers, a sense of purpose, a balanced life, an opportunity to give back to society and holistic wellbeing. The rising expectations of employees and the realisation among organisations that good talent is their only true differentiator have led to HR being at the forefront of some key trends over the past few years. As we stand at the crossroads of change, it’s imperative for HR professionals to not only understand the evolving landscape but also to proactively shape its contours. Let us unravel some of the key trends, identify upcoming challenges and envision some solutions that will define the trajectory of HR practices in the coming years. Remote and hybrid work, which became mainstream during the pandemic, has seen its share of supporters and detractors. But it would be fair to say that in 2023, most companies accepted hybrid work as a solution to combine the benefits of remote and office work. While this arrangement offers the advantage of flexibility, it also poses challenges to employee engagement, the building of organisational culture, collaboration and overall wellbeing. In 2024 and beyond, HR will continue to focus efforts on ensuring that managers are equipped to manage in a hybrid environment and that there are enough avenues for employees to collaborate and have fun together. As inclusion becomes a strategic pillar of success, managers and colleagues will need to be trained to engage with colleagues who opt for more remote work with fairness, since an unconscious preference might develop for colleagues who work in the office. HR TRENDS 2023-2024 The author is CHRO of Tredence As generative AI takes over many repeatable tasks and even decision-making activities, analytics and technology companies will see a shift and HR will have to alter talent strategy for the new scenario SOMA PANDEY HR Must Build Diverse, Resilient Teams › In 2024 and beyond, HR will continue to focus efforts on ensuring that managers are equipped to manage in a hybrid environment

WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 83 Quiet hiring & upskilling The next big HR development of 2023 was quiet hiring. And it wasn’t too soon to come. Most successful companies have decided to combat the disillusionment of ‘quiet quitters’ with an enhanced focus on internal talent for better roles and bigger responsibilities. This signals that they value loyalty and are ready to invest in upskilling and the long-term careers of their people. This is a positive trend that can become a best practice and HR teams should double down on retaining their top talent through win-win strategies for developing and advancing them. In addition to crafting upskilling and reskilling programmes, we should also foster a mindset that values curiosity and embraces change. 2023 was also when ChatGPT took centre stage, heralding a significant shift in how AI would impact daily work. As generative AI takes over many repeatable tasks and even decision-making activities, analytics and technology companies will see a shift and HR will have to alter talent strategy for the new scenario. This will probably be one of the most important strategic variables in 2024. AI will accelerate the journey of IT and analytics firms. Even at the corporate level, AI and other technologies will make handling operational business problems simpler and quicker. Therefore, our clients will expect us to provide strategic consulting as an important value-add. HR professionals in IT and analytics firms can support this trajectory by hiring teams from varied functional and cultural backgrounds to boost the company’s creative and collaborative DNA. Research has shown that a multi-faceted talent landscape attracts the best, sparks innovation and builds belonging, helping the company maintain a pole position. An additional but key benefit of diverse hiring is that it puts the company on the list of desirable employers for discerning Gen Z applicants. For younger talent to consider a company as an employer of choice, it has to build and execute sound strategies for ESG. Millennials and Gen Z opt for companies with a strong ethos of making a genuine difference and we must pay heed. Coming back to AI, streamlining its impact on their work will keep HR busy in the coming years. AI and analytics are increasingly being used in HR processes. Of course, with great power (of information) comes great responsibility (of privacy) and HR must ensure every care is taken to safeguard and respect employee privacy at every step. There needs to be a robust vetting framework for the tools we use. To sum up, 2024 would be the year when the AI and analytics sector races up the maturity curve to partner with their clients as strategic advisors.Quiet hiring in the form of regular identification of high-potential employees and nurturing their growth to take on leadership roles can ensure their rich experience stays in-house to help companies navigate this journey. To further this growth and counter external volatility, HR should build diverse, resilient teams. Deep in-house AI expertise should be leveraged to create personalised career trajectories while never losing sight of privacy and ethics. Category: IT/Tech

84 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM By Bensely Zachariah HR TRENDS 2023-2024 The author is Global Head – Human Resources, Fulcrum Digital › Tech talent is drawn to organisations with a compelling purpose beyond profits Cultivating The Tech Titans Of Tomorrow T he greatest change witnessed in the 21st century is the exponential transformation across all spectrums of life, ushered in by the advancement of technology. The adoption of digital transformation at an unprecedented pace has created an evolving business environment driven by disruptive technologies, market shifts and a changing nature of work. The success of any business during this time primarily depends on its ability to build a workforce equipped with the right skills, the right set of behaviours and an ability to embrace a digital mindset. The 2023 Global Technology Leadership Study by Deloitte indicates that over 50 per cent of executives anticipate their digital transformation initiatives in the next two years will concentrate on creating new tech-enabled products, services and/or platforms. However, paradoxically, only 13 per cent of surveyed employers express confidence in their ability to recruit and retain the essential tech talent needed to create said offerings.

WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 85 One major way to retain tech talent is to ensure that they succeed in their defined roles BENSELY ZACHARIAH Category: Tech would enhance employee engagement. Another strategy for developing tech talent would be to create a culture of innovation by allowing employees to collaborate on new ideas in emerging technologies by way of internal projects/POCs. These can help in challenging themselves, unearthing new talent, applying their learnings and developing expertise. They may also help in creating offerings in these technologies which can be incorporated as a part of your go-to-market (GTM) strategies. As is the case with any other investment, tech talent too carries both risks and rewards. However, the rewards far outweigh the risks. As Richard Branson stated, “Train people well enough so that they can leave, treat them well so they don’t want to.” It is worth the investment in providing the necessary environment to develop their skills, as it would not only keep them motivated and engaged in the present but also lay the foundation for preparing the workforce of the future. Talent is one of the highest expenses in an organisation’s budget, yet most enterprises do not have a clearly articulated strategy on how to build and maintain it effectively. Here we will look at some strategies that can be implemented to build a capable and sustainable workforce that can boost the growth of the business. Anticipating your tech talent The first step towards understanding your talent requirements would be to have a clearly defined strategy for the tech-enabled products or services that you intend to develop. Translate that into skills required to fulfill those requirements. Utilising generative AI tools, analyse project requirements and match them with resource availability by evaluating the skill-sets of the employees based on their qualifications, trainings and applied experience. Later, assess the gaps in your existing workforce and articulate a strategy and an execution plan on how to overcome it. Further, utilising these tools for continuous learning, adapting to changing market dynamics and understanding customer preferences and organisational limitations can refine your talent development strategies. Attracting tech talent Apart from competitive compensation and benefits, one of their top priorities would be opportunities to work on cutting-edge technologies or projects that can offer sufficient challenges. A positive work environment, offering flexibility in focussing on results rather than methods, including features like flexible hours, hybrid work setups, talent nurturing and a growth-oriented talent model supporting diverse career paths via individual development plans (IDPs), is attractive to tech professionals. Tech talent is also drawn to organisations with a compelling purpose beyond profits, providing a sense of purpose for using their skills to make a positive impact. A well-articulated employee value proposition (EVP) helps them connect with the corporate purpose on a personal level. Retaining tech talent One major way to retain tech talent is to ensure that they succeed in their defined roles. They are motivated by roles that provide them vertical or horizontal growth where they can utilise their core skills. Therefore, provide them with an environment where they can unleash their potential while doing meaningful and challenging work. This would mean providing them with all the learning and development to enable this and working with them to give insights and opportunities available to help them shape their careers by way of dovetailing their IDP with the business strategy through coaching and mentoring programmes. Developing tech talent With the advancement of emerging technologies like AI, there is a major shift in the industry’s approach towards evolving a model of continuous learning for the skills required to keep up and evolve these systems. Apart from using traditional learning methodologies, hyper-personalisation of learning across platforms using generative AI tools based on their professional/personal requirements would enhance their learning experience and help them learn new skills. Facilitating learners to access content at their own pace and convenience, using immersive methods on mobile devices,

86 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM By Shweta Mohanty HR TRENDS 2023-2024 The author is Head, Human Resources, SAP, India › Continuing to invest in reskilling and upskilling is essential for staying ahead in an everchanging job market Companies Must Take A Relook At Strategies Reflecting upon the HR trends of the past year shows how the corporate world landscape has seamlessly transitioned into a new era. The HR trends we have been noticing for the past three years were supposed to be temporary measures to overcome the challenges of the pandemic era, but they have rather solidified their position within the industry. Some of the key changes that occurred and stayed for the greater good in 2023 are: Employee wellbeing: The profound impact of the Covid crisis underscored the importance of fostering a resilient and supportive work environment. Recognising that employees are the heartbeat of any successful enterprise, organisations have begun to acknowledge the critical role that mental and emotional health play in overall productivity and job satisfaction. Employee wellbeing, with a particular emphasis on mental and emotional health, has ascended to the forefront of organisational priorities. Companies are implementing comprehensive wellbeing programmes, encouraging healthy work-life integration. Inclusion and belongingness: The pandemic accentuated the need for empathetic leadership and diverse perspectives to navigate unprecedented challenges. Recognising that an inclusive culture not only enhances employee wellbeing but also drives creativity and productivity, organisations made concerted efforts to prioritise diversity, equity and inclusion. Investing in this space is crucial not only for moral imperatives but also for optimising business performance. Flexibility at work: When a company implements a hybrid work culture, it basically implies that their employees have diverse needs and preferences regarding their work arrangements, allowing for a more personalised, yet structured approach. Organisations relooked at the ‘why’ of office presence and started to invest in strategies that make coming to work worthwhile - driving collaboration, innovation and team synergies.

WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 87 Our goal should be to create a thriving, respectful and participative culture that values humans and creates a community of individuals invested in each other’s success SHWETA MOHANTY Category: Tech tant to employees and not a replacement, thereby emphasising that the future of work lies in the collaboration between the creativity of human beings and the advancement of technology. While we enter 2024, companies must be compelled to rethink their strategies from the ground up. Care: While we are not new to the concept of companies investing in their employees’ compensation, career and culture, as we enter 2024, it’s high time that we factor in one more pillar: Care. Companies need to go the extra mile to provide their employees with the support they need to maintain a holistic work environment. To ensure this, several initiatives can be taken that include, but are not limited to, the holistic wellbeing of employees. Intentional and active listening to what employees need is paramount to providing care. Community: Implementing a supportive framework for individuals from diverse backgrounds and preferences, for example, the LGBTQIA+ community, will help employees feel good at workplace. Creating policies, practices and channels to reach out will help to prevent hostility or discrimination at work. Additionally, engaging with your coworkers is extremely important to creating a fun and vibrant work environment. Respecting individual purpose through entrepreneurial sabbaticals, family-care responsibilities or dedicated time for personal pursuits ensures a well-rounded and fulfilling life beyond work. Macro-economic dynamics: Macro-economic dynamics exert a profound influence on organisational and human practices, shaping decision-making and overall workplace dynamics. Fluctuations in economic conditions impact business operations, budgeting and resource allocation. Adapting people practices to macro-economic trends is critical for organisational resilience, ensuring that strategies align with the broader economic landscape and enabling agile responses to external challenges and opportunities. Looking ahead to 2024, top three HR trends will include technology-driven HR for seamless assistance to employees, people analytics to make data-driven decisions and DEI management for creating a workplace where everyone belongs. Ultimately, our goal should be to create a thriving, respectful and participative culture that values humans and creates a community of individuals invested in each other’s success. Reimagining workforce design: 2023 proved to us that there is a growing disconnect between existing talent, operating models and market realities. With profitability and margins under threat across organisations, there is a need to focus on assigning resources more effectively to where they matter the most. HR leaders need to look at organisational structure, layers, roles & responsibilities and talent fungibility. Reimagining workforce design will improve organisational health and enable better and faster decisions. It will also lead to trust and empowerment in the organisation. Upskilling and reskilling: The dynamic nature of the global workforce, rapid technological advancements and evolving job landscapes accelerated the paradigm shift towards reskilling, upskilling and skill-based hiring as paramount strategies for organisational resilience and creating a versatile and adaptable workforce. Because of the new-age technologies, employers are no longer interested in traditional degree holders; they are rather hunting for someone who is skilled to use those new-age technologies and get the job done. Continuing to invest in reskilling and upskilling is essential for staying ahead in an ever-changing job market, fostering innovation and empowering employees to navigate emerging challenges, thereby future-proofing both individuals and the organisations they contribute to. Tech-driven HR: Last but not least, HR management is no longer focussed solely on managing relationships between two employees but is rethinking what aspects could be accessed via technology and what aspects need the human touch. This trend involves employing AI and automation as an assis-

88 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM EVENT CEO PERSPECTIVES: Top-Level Vision And Expectations from HR at a National Level BW People organised the third edition of the BW People CEO CHRO Conclave 2023 in New Delhi on September 30. The flagship event hosted several industry visionaries who have made significant contributions in the areas of human resources and contributed towards India’s national growth. The day-long summit brought together chief human resource officers, chief executive officers and HR professionals from across domains and renowned organisations to explore the power of human capital and the emerging trends and innovations in the field of human resources. The speakers shed light upon advancing “wise innovation”, the importance of ethical leadership in fostering a value-driven workforce, the power of human capital and the importance of collaboration between HRs and educational institutions. Keynote Address 1: Power of Human Capital: HR’s Role in National Development Speaker: Raghupati Singhania, Chairman and Managing Director of JK Tyres Acknowledging the value of HR professionals in nation-building, Raghupati Singhania said, “Human resource is often viewed as the people management department and plays a very pivotal role in shaping the trajectory of growth. Human resources is not merely a function, but it is a philosophy and belief that investing in people is the shortest path in an organisation’s and nation’s progress.” An apt dialogue on the role of human resources in contemporary organisations followed Singhania’s opening address. The discussion delved into a wide range of issues from inclusive hiring practices to aligning personal aspirations with corporate objectives and even the integration of employee happiness as a measurable metric for sustainable growth. › Industry Stalwarts Come Forward To Make CEO-CHRO Conclave 2023 A Massive Success

WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 89 Keynote 2: Advancing Wise Innovation Speaker: Varun Nagaraj, Dean, SP Jain Institute of Management & Research (SPJIMR) In a thought-provoking keynote address, Varun Nagaraj delved into the world of innovation and why organisations must cultivate a culture of “wise innovation.” Nagaraj began by shedding light on the often-overused term, innovation. He emphasised that “innovation isn’t just about change; it’s about identifying a current state, envisioning a desired state, and navigating the transition. For innovation to truly take root, there must be a compelling reason for change, a spark that ignites the journey.” Moreover, he pointed out that “innovation must embody novelty and usefulness. Innovation isn’t merely about doing something new; it’s about doing something new and valuable. The two aspects, novelty and utility, constitute the core of any innovation initiative.” Nagaraj encouraged organisations to embrace paradoxes as a fundamental aspect of innovation. In the corporate world, paradoxes are ubiquitousdoing more with fewer resources, balancing shortterm and long-term goals, and managing the triple bottom line (profit, people, planet). The paradoxical mindset, which acknowledges these opposing realities and seeks to harmonise them, is vital for innovation success. Keynote Address 3: Ethical Leadership and HR: Fostering Values-driven Workforce Speaker: Antony J Alex, Founder & CEO, Rainmaker In an insightful keynote address on the imperative of ethical leadership in the age of rapid technological change, Antony Alex highlighted the tension between business results and organisational culture, emphasising the prevalence of short-term focus over long term cultural investment. Alex noted that ethical companies outperform others and asserted that ethics is the future. Ethical leadership involves prioritising longterm value for employees and communities, setting goals beyond financial success. HR plays a critical role in defining shared values and driving cultural change, with an emphasis on creating a brand identity aligned with these values. Encouraging a value-based culture is seen as beneficial for stakeholders and employees, contributing to organisational credibility and success. Alex concluded the keynote by urging individuals to leave the organisation better than they found it, promoting continuous improvement through a value-driven approach.

90 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM Panel Discussion 1: CEO Perspectives: Top-Level Vision and Expectations from HR at a National Level Panel members: Subramanyam Y, Regional CEO, Telangana & Andhra Pradesh, Apollo Hospitals Enterprises; Raj Nayak, Managing Director, House of Cheer Networks; Sunil Goyal, Dy Chief Executive Officer, Sopra Steria India; and Harbinder Narula, CEO, BW Healthcare World & BW Wellbeing World as session chair. An apt dialogue on the role of HR in contemporary organisations took centre stage in the panel discussion. The discussion delved into a wide range of issues from inclusive hiring practices to aligning personal aspirations with corporate objectives and even the integration of employee happiness as a measurable metric for sustainable growth. The panellists spoke about the shift in perspective regarding employee costs and stressed that the first thing that the CEO has to understand is that it need not be the people’s cost but it has to be the people’s profit. This shift was crucial in recognising human resources as an investment rather than a fixed cost. While, there needs to be a shift in perspective in how human resources is viewed in an organisation, there also needs to be a shift in understanding what drives employee happiness at work. The panellists were of the view that employee morale and organisational success are interlinked. In this context, the role of the HR is of utmost importance in not only empowering people at work but also for promoting a culture that recognises the subjective nature of happiness at work. EVENT Keynote 4: From Classroom to Career: HR Education Partnerships in Action Speaker: Harsimran Sandhu, Professor of Finance and Area Chair Finance, IMT Ghaziabad Higher education institutes in the country are expected to meet different career aspirations of students. Freshly graduated students start their career hoping to match their energy with the companies’ aspirations. However, only 40 per cent of graduates stay with the company. “A survey revealed that lack of attention, guidance, and enough conversations from the managers was a major issue in leaving the company,” said Harsimran Sandhu in his keynote address. Sandhu highlighted the need to bridge the gap between educational institutes and employability by designing the curriculum with specific skills and delivering the same in the process. Industries looking for specific skills are increasing to match organisational goals. Institutes must design the curriculum to match those skills for students to achieve success in their careers. “A skilled workforce right from the campus can happen if the companies come and HR can take the lead in this,” added Sandhu. Employees tend to learn faster and more efficiently under the right guidance of seniors or mentors in the company. He talked about various essential steps in bridging those gaps and making sure that both organisational and employee aspirations are met. Curriculum alignment will bring relevant change in this regard. Ensuring a common platform for students, faculty, and industry will be fruitful. He even focused on the need for research collaboration and industry projects in education centres.

WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 91 Panel 2 – CEO Insights: Shaping the Future of HR Panel members: Salil Kapoor, CEO, Hindware Home Innovation; Aalok Kumar, Corporate Ocer& Sr VP-Head of Global Smart City Business & President & CEO, NEC Corporation India; Prem Singh, President-Group HR, JK Organisation; and Arjun Yadav, Senior Correspondent, BW Businessworld as session chair The panellists talked about leveraging technology to manage the life cycle of talent. The AI tool gives a chance to HR leaders to personalise it. The industry is dynamic and the generative AI can be utilised to manage the pipeline of employees. HR is the gatekeeper of the policies and generative AI would allow HRs to move up the value chain. During the panel discussion, experts were at a consensus that artificial intelligence, which is maturing at a very rapid pace certainly, creates a lot of value around consistency and predictability of a right candidate around talent acquisition. It can also predict the likelihood of a talent in a particular environment. And it enables HR team to anticipate the risk of flight through algorithms designed to observe human behaviour. Panel 3: Strategic HR: Driving Organisational E x c e l l e n c e t h r o u g h Organisational Development & Upskilling Initiatives Panel members: Unmesh Pawar, Chief People Officer, Dentsu, South Asia; Simin Askari, Senior Vice President-Corporate Human Resource & Business Excellence, DS Group; Rajesh Mohan Rai, Director & CHRO, Servotech Power Systems; and Abhijit Deshmukh, Director - Learning Partnerships, SPJIMR, as session chair. In today’s VUCA world, the dimension of Human Resources is witnessing a state of flux. Constant change and digital transformation have been reshaping the world of HR in the post-Covid landscape. The role of upskilling and bringing about change management is extremely important considering the rapid increase in tech adoption for organisations. Companies have slowly and steadily understood the importance of being agile in a dynamic business environment. While effective communication with employees is one key driver for effective change management, the panellists emphasised on continuous learning and peer to peer collaboration to make the process smooth. At a time when businesses are focused on imparting training to its workforce, measuring the impact of such initiatives is critical. The panellists were at a consensus that an HR’s role in reshaping processes and governance during change management is at the heart of bringing the desired transition in the organisation.

92 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM EVENT Panel members: Yuvaraj Srivastava, Group Chief Human Resource Officer, MakeMyTrip; Ashish Chattoraj, Chief of People Functions, PayU India Entities; S Ramkumar, Exec VP & Head-Railways Strategic Business Group, L&T; Indrani Chatterjee, Group Chief People Officer, Allcargo Group; Gautam Saraf, CHRO, Ferns N Petals; Session Chair: D Prasanth Nair, CHRO, Crompton Greaves Consumer Electricals The panel discussion focused on the evolving role of Human Resources (HR) in shaping the nation’s growth. Emphasis was placed on the need for organisations to embrace flexibility and antifragility in the dynamic business landscape. The discussion highlighted key factors influencing HR’s evolution, including government regulations, educational advancements, and the impact of different generations on the workforce. The panellists agreed that HR professionals must transition from transactional roles to those adding substantial value to the economy and organisations, particularly in the era of artificial intelligence. The panel emphasised the transformative shift in HR’s mindset over the past two decades, moving from policy management to an entrepreneurial approach. Additionally, the discussion highlighted HR’s role as an investment in future growth, considering the multi-generational nature of the modern workforce and the importance of aligning HR practices with business goals. Overall, the panel discussion underscored HR’s crucial role in adapting to change, fostering an entrepreneurial mindset, and aligning with strategic business objectives to shape India’s future workforce. Panel 4: HR Evolution in India: Contributing to National Growth Panel 5: HR Capacity Building: Building Future-ready HR Capabilities Panel members: Priyanka Gulati, Partner Human Capital Consulting, Grant Thornton Bharat; Prashant Khullar, Chief Human Resources Officer, Ecom Express; Rakesh Prasad, AVP – HR (IFS), IndiGo (InterGlobe Aviation); Agniwesh Thakur, Director, Human Capital, Deloitte India; and Amit Sareen, Dean Academics, IMT Ghaziabad, as session chair. The role of HR is changing. Previously considered a support function, HR is now becoming a strategic partner in helping a company achieve its goals. The evolving role of HR professionals in the dynamic corporate landscape was discussed during the panel discussion, emphasising the necessity for them to stay informed about technological advancements to navigate the rapidly changing digital era. The key takeaway revolves around HR’s vital role in addressing diverse challenges, from stress management to personalisation and adapting to technological changes. The panellists were of the view that human resources management is becoming increasingly important in organisations because today’s knowledge economy requires employees to contribute ideas and be engaged in executing the company’s strategy. HR is thus becoming a strategic partner by identifying the skills that employees need and then providing employees with the training and structures needed to develop and deploy those competencies.

WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 93 Panel 6: HR and Organisational Agility: Navigating Disruptions Panel Members: D Prasanth Nair, CHRO, Crompton Greaves Consumer Electricals; Viekas K Khokha, CHRO, Dhanuka Agritech; Ruchira Bhardwaja, Joint President & CHRO, Kotak Mahindra Life Insurance Company; Pankaj Suri, Executive Vice President-Human Resources, Edelman Smitheld & EGA APAC; Nida Khanam, CHRO, Omega Seiki; and Talees Rizvi, Director, BW People & BW CFO World as session chair. The panel discussion highlighted the profound impact of the Covid-19 pandemic on organisations, necessitating a critical need for adaptation and resilience. Surviving these unprecedented challenges required a commitment to learning and a focus on delivering high-quality services promptly. The agility of workplaces was preserved through the dissolution of traditional organisational hierarchies, bringing all members to a similar level and fostering a collective commitment to overcoming disruptions. The experts stressed that effective communication played a pivotal role in maintaining productivity during turbulent times, emphasising the importance of creating a sense of psychological safety among employees. Furthermore, the discussion delved into the challenges faced by HR executives, particularly in ensuring data protection during vulnerable periods. The heightened risk of cybersecurity threats was acknowledged, with a call for a paradigm shift in awareness at both organisational and individual levels. While top-level executives bear significant responsibility for data protection, there was a consensus that individuals must also exercise scrupulous care regarding their data. The panellists underscored the role of consumers in prioritising a behavioural shift towards data protection, advocating for conscientious decisions that contribute to a progressive change in the face of evolving challenges. Panel 7: HR Leadership Connect: Aligning People Strategy With Business Goals Panel Members: Rabeen Singh, CHRO, Tata Advanced Systems; Pankaj Sharma, Senior Vice President, Head Group HR, Anand Automotive; Shaleen Manik, CHRO, Transsion India (itel, Tecno & Innix Mobiles); Radhika Arora, Group CPO, Jakson Group; and Rachna Mukherjee, Former CHRO – Schneider Electric, India & South Asia as session chair The challenge in aligning the people strategy with the business goals is consistently deploying a human resource (HR) agenda across a business, which is a complex task. To achieve this, the key is to define the HR strategy and involve the business in the process. This involves dialogue and participation, from stakeholders to board members and the ecosystem. To initiate the process, the HR teams need to understand the customers and their needs to serve the stakeholders effectively concurred the panellists. Expert panellists were of the view that dialogue and participation of the HR professionals is key in the process of aligning people strategy with the business goals. Engaging in discussions while creating initiatives, ensuring that the HRs have a seat on the table and being a part of the day-today execution of the strategy will help smoothen out the process. Speaking about the trends going forward, the panellists shared that the new industry will include specialisation, diversity, inclusion, employer branding and the need for developing talent. As artificial intelligence becomes more prevalent, the need for talent development will increase. Therefore, it is critical to frame policies and processes in line with the evolving business and organisational realities concurred the panellists.

94 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM 3RD PRISM 2023 INTERNATIONAL CONFERENCE ADDRESSES B-SCHOOL CHALLENGES › The conference hosted several industry stalwarts including SY Siddiqui, Ex CHRO, Maruti Suzuki; Manu Wadhwa, CHRO, Sony Pictures Networks; Pavitra Singh, CHRO, PepsiCo India; Suresh Tripathi, CHRO, Air India and many more Dr Pritam Singh Foundation organised the 3rdDr Pritam Singh Memorial (PRISM) Conference - 2023 in New Delhi recently. The event was hosted by Birla Institute of Management Technology (BIMTECH). The theme of the conference was ‘Reimagining the Future of Business: The Challenges of Leadership, Digitalization, and Sustainability’. The Conference revolved around the agenda of learning and development of young graduates. Dr Pritam Singh Foundation was founded to take forward the legacy and life lessons of Pritam Singh, legendary management guru who served as director of IIM Lucknow and MDI Gurgaon. The trustees include P Dwarakanath, Former Chairman, GSK; SY Siddiqui, former Executive Advisor, Maruti Suzuki; Harivansh Chaturvedi, Director, BIMTECH; Asha Bhandarker, Professor, IMI-Delhi; and Bhimaraya Metri, Director, IIM Nagpur. EVENT

WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 95 Suresh Narayanan, Chairman and Managing Director, Nestle India, was the chief guest of the occasion. He spoke about the key attributes required for success in the world of work today, especially agility. Bharat Bhasker, Director, IIM Ahmedabad, who was also chief guest, spoke about the changing management education landscape and industry-academia relations. The conference had a lineup of sessions, starting with a panel featuring industry stalwarts. Guided by the seasoned moderation of SY Siddiqui, the panel boasted a stellar cast: Manu Wadhwa, CHRO-Sony Pictures Networks; Chitbhanu Nagri, Senior Vice President, People Operations at Razorpay; Samir Prakash, CHRO - Corporate Services, Adani Enterprises; Rajita Singh, Chief People Officer, Kyndryl and Pavitra Singh, CHRO, Pepsico, India. Speaking exclusively with BW People, Manu Wadhwa, CHRO, Sony Pictures Networks said, “A discernible transformation exists in the profiles of professionals entering the workforce today as compared to those from a decade ago. One such significant distinction is the contemporary professional’s dual focus on both life and career goals. Secondly, there is an increasing emphasis on technological proficiency, which requires individuals to maintain a proactive stance in terms of technological and digital literacy. Lastly, there is a heightened sense of self-awareness among the current generation of practitioners, presenting a departure from the past where individuals often tailored their personas to conform to societal expectations.” Academia’s role “The key business expectation is how academia will impart these skills, whether it’s in niche technology or the fundamentals of business. Students are expected to understand the current nuances of business. There is also a greater focus on the reinforcement of foundational skills, as students are expected to know the fundamentals of business and how well they understand them. This has resulted in a more conscious approach to education and understanding in the professional world,” shared Chitbhanu Nagri, SVP, People Operations at Razorpay. Another panel included HR experts such as Abhishek Tiwary, Global Head, Tech Mahindra; Sanjay Lakhotia, Co-founder and CEO, Noble House Consulting; Suresh Tripathi, CHRO, Air India; Vipul Singh, SVP & Head of Human Resources, ADP; and Nishchae Suri, Managing Director, Cornerstone, as moderator. “In today’s rapidly evolving industry, the expectations of B-school graduates have changed. The industry demands agility, requiring graduates to swiftly adapt to changing agendas and align themselves with contemporary business needs. Industry leaders seek graduates who can contribute meaningfully from day one, necessitating a curriculum that aligns with current industry requirements. B-Schools play a pivotal role in shaping the future workforce. By integrating diversity, sustainability, and industry-relevant curricula, they can empower graduates to navigate the complexities of the modern business landscape successfully,” Suresh Tripathi, CHRO, Air India told BW People. “Tech schools and B-schools have made HR streams more accessible and available by providing opportunities for students. However, the industry demands new skills, and schools need to upgrade the quality of education and faculty skills. While some schools are doing well, others are far behind,” highlighted Vipul Singh, SVP & HR Head, ADP. PRISM Leadership awards were conferred by KS Bakshi, Group Head HR, Interglobe Enterprises. ‘Dr Pritam Singh Transformational Leader Award 2023’ was conferred on Santrupt Misra, CEO Aditya Birla Group and ‘Dr. Pritam Singh Lifetime Leadership Achievement Award 2023’ was conferred on Anil Khandelwal Former CMD, Bank of Baroda. The ceremony concluded with the Dr Pritam Singh Award Ceremony and Valedictory Function, which featured distinguished personalities such as Anil Sahasrabudhe, Chairman of the National Educational Technology Forum; DP Singh, Education Advisor to the Chief Minister of the UP Government; P Dwarkanath, President of PRISM; Bhimaraya Metri, Director, IIM Nagpur; C Rajkumar, Founding Vice-Chancellor of OP Jindal Global University, Haryana; and Harivansh Chaturvedi, Director of BIMTECH.

96 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM › NR Narayana Murthy’s advocacy of longer hours seems to have stemmed from the concern of inculcating an entrepreneurial mindset. But concerns have been raised on impact on quality of life T he debate surrounding the idea of a 70-hour workweek has ignited discussions across news outlets and social media platforms. The call for longer working hours for the younger working demographic, as advocated by Infosys founder NR Narayana Murthy has got the internet divided on aspects of work productivity, work culture and wellbeing of young employees. While Murthy’s advocacy of longer hours seems to have stemmed from themes of inculcating an entrepreneurial mindset and taking more ownership of work for a younger age group of employees, the debate has brought out some unique perspectives from HR experts and senior executives. Is young India Inc.’s productivity low? The question of productivity is at the fore front of the debate. Are long working hours the solution to increasing productivity, or is there a nuanced approach? It is also crucial to understand that productivity is not solely measured by the number of hours worked but the efficiency, DEBATE 70 HOUR WORK WEEK -WHITHER WORK-LIFE BALANCE? innovation and effectiveness of these hours. A report published by NASSCOM‐Deloitte estimated in 2021 that 1,430 multinational corporations had set up GCC centres in India. Additionally, many experts have suggested that global companies are looking to outsource 40 per cent of jobs lost from layoffs to India. Highlighting how India’s collective young workforce is seen as an asset on a global stage, Ganesh S, Global CHRO, Emeritus, says, the jobs that are getting cut in Europe and US are moving to India. This is not the result of the extra hours Indians put at work, but also the fact that the world believes that India and the workforce here can offer solutions to problems that organisations face across the globe. By Krishnendra Joshi

WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 97 This becomes even more relevant at a time when most organisations today follow either an OKR or an MBR-based performance approach which has negated the number of hours a person needs to spend in achieving objectives. “The current generation and maybe the previous ones starting from the millennials are the ones who love to pick roles that give them a sense of fulfilment- not all of these see hours of work equating to a sense of accomplishment,” Ganesh adds. While it becomes difficult to draw up a vivid picture of the current work landscape, the question remains: should one size fits all rule be implemented to address the call for longer working hours? One may put forth the argument that putting in long hours can turn out to be necessary in certain industries or specific phases of one’s career, but many believe that smart work will take precedence over hard work, especially in Employees have often complained that extended working hours lead to burnout and mental health issues. A 2022 study by the Society for Human Resource Management revealed that 77 per cent of employees consider work-life balance imperative for them

98 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM the age of AI and tech where doing in more in less time is becoming more of a norm. One must also remember that employees have become more vocal and conscious of their priorities and work-life balance in the new normal. Sharing her views on hard work vs smart work for young India, Somdutta Singh, Founder & CEO, Assiduus Global Inc says, “I believe in a blend of both. Hard work is essential, but so is working smart. It’s about finding a balance that optimises productivity while maintaining work-life harmony. Efficiency, mental wellbeing, and skill development thrive in an environment that values output over mere presence.” “It’s crucial to ensure that employees feel engaged, encouraged, and adequately compensated for their contributions, irrespective of strict hourly metrics,” she adds. Long hours out of necessity Surveys reveal that employees in healthcare, logistics, transportation and media often find themselves slogging for more than 9- 10 hours a day due to the nature of their roles. It is not necessary that these long hours translate into productive ones. If numbers tell a story, a study by GoRemotely states that an average employee is only productive for 2 hours and 53 minutes per day. The case for women employees is even more pronounced wherein women in both urban as well as rural areas find themselves juggling between multiple responsibilities, including outside of the home and additional hours dedicated to household chores. In an interview to BW People’s sister publication BW Legal World, Parveen Mahtani, Chief Legal Officer, Mahindra Lifespace Developers, recounts her experience of climbing up the ladder as a General Counsel in the corporate world. “I was told that it is tough to be in a leadership position when you have children, and I had to prove them wrong. Women have the ability to multi-task and make great negotiators, she said. By her own admission, the secret lies in not feeling guilty and becoming more reasonable with yourself. “The art is creating a balance, being organised and compartmentalising your day”, Have your own definition of success and dare to dream, she adds. Work-life balance For some, maintaining a healthy work-life balance is essential for the overall wellbeing of employees. The demand for extended working hours should be at the cost of personal time. Not to forget, employees have often complained that extended working hours lead to burnout and mental health issues. A 2022 study by the Society for Human Resource Management revealed that 77 per cent of employees consider work-life balance imperative for them. As an HR professional who has been leading a team for several years, I personally believe that a 70-hour workweek evokes a pertinent discussion on the synergy between work-life equilibrium and productivity. While commitment and diligence are indisputably valuable, it’s of utmost importance to cultivate a harmonious environment that nurtures both wellbeing and creativity. “It is my staunch belief that our company culture should be a steadfast support system for our employees without overwhelming them. This emphasis on work quality over sheer quantity is pivotal for not only individual growth but also for the organisation’s overall success. Furthermore, it’s about entrusting our team members to deliver results within set timeframes, a viewpoint I passionately DEBATE

WWW.BWPEOPLE.COM BW PEOPLE JANUARY-FEBRUARY 2024 99 endorse,” says Kiran Ahuja, Talent Acquisition Director Asia Pacific, Smith & Nephew. “There is of course no substitute for hard work and commitmentin both our professional and personal lives. However, at Lenovo, we practise flexibility. We believe that choice is very important in today’s context, says Bhavya Misra, Director & Head of HR - India, Lenovo. While there are employees who have work as a single line of focus, there are others who prefer to map their priorities across various aspects of their lives. These choices also often vary with the life and career stages of individuals. “We respect both ends of the spectrum and everything an employee needs to create their own balance. We engage employees in meaningful work and trust them to do their best to drive results, she adds.” Reskilling in the mix Research suggests that AI and automation will require 16.2 million workers in India to reskill and upskill. In today’s day and age where technology adoption is changing how work is done, a large segment of the fraternity believes upskilling the workforce is the right approach to take instead of advocating for long hours at work. Promoting skills development is key to improving the overall productivity of the workforce. “The benefits of the courses we give to our customers have been made available for our own employees and their family members to also utilise at discounted rates as part of our reskilling initiatives,” says Ganesh S. We have scheduled online training not only for individual contributors but also for people managers- these cover not only professional and leadership development but also compliance, culture, soft skills, and functional training apart from other topics, he adds. The debate surrounding the 70-hour work week is a complex one, with many variables to consider. Achieving economic prosperity is undoubtedly important, but experts say that it should not come at the cost of employee wellbeing, work culture, and overall job satisfaction. Smart work, efficient processes and a focus on skills development can help achieve both productivity and a balanced work-life relationship. As India’s young workforce strives for success, it’s crucial to remember that the path to prosperity must be sustainable, promoting the overall growth and wellbeing of the nation. Responsibility for progress At the same time, many C-suite leaders have hailed Murthy’s statement saying that the visionary founder’s sentiment came from exhibiting relentless passion and zeal for his work and many believe that his views were only meant as an encouragement for an enthusiastic young India to come forward and add to the nation’s growing prosperity. As Aditi Mukherjee, Chief People Officer, NCDEX says, “The statement on 70 hours work week needs to be understood from the context it was stated. A nation that has one of the largest millennial population, has an immense responsibility towards the progress of our economy. Hence, clocking beyond standard work hours at early stages of the career provides the impetus to be more resilient during mid-career to later stages of the employment life cycle.” “Bring in stretch assignments that provide personal growth & learning, where employees end up committing to long hours on free will rather than forced rules”, she adds.

100 BW PEOPLE JANUARY-FEBRUARY 2024 WWW.BWPEOPLE.COM › For HR leaders championing inclusion, the journey involves recognising the value that people with disabilities bring to the workforce, says Rajesh Aggarwal, Secretary, Dept of Empowerment of Persons with Disabilities, Ministry of Social Justice and Empowerment, in conversation with Savi Khanna Diversity and inclusion are no longer buzzwords; they’re vital pillars of today’s progressive workplaces. The conversation is expanding to ensure that individuals with disabilities are not left behind. Currently, 5-10 per cent of the global population faces some form of disability, spanning across various age groups. Rajesh Aggarwal, Secretary, Department of Empowerment of Persons with Disabilities, Ministry of Social Justice and Empowerment, Government of India, delves into a discussion that now extends beyond physical accessibility to encompass digital spaces, creating an urgent need for inclusivity in both realms. India’s current landscape “As compared to countries like the US or the UK, India is still evolving in terms of physical infrastructure accessibility. Over the past decade, notable improvements have been witnessed, especially in new developments post the Rights of Persons with Disabilities (RPwD) 2016 Act,” says Aggarwal. Railway stations, airports, buses, and even the retrofitting of older structures have shown a commitment to being disability-friendly. However, the challenge lies in ensuring that this commitment is ingrained from the ground up in all new projects to achieve 80-90 per cent accessibility, especially in the workplace in the next 5 to 10 years. Bridging the divide The digital age has ushered in a transformation, making it essential for both physical and digital spaces to be accessible to everyone. From buildings and transportation to websites and applications, the need for inclusivity has never been more apparent. The impact is profound; without INTERVIEW UNLOCKING POTENTIAL: Towards Inclusive Workplaces For Everyone RAJESH AGGARWAL