RNI Code No. DELENG19762 | April-May 2024 | Rs.300/ Volume 3 Issue 5 | Bi-Monthly | Published from Delhi in English UNDER YOUNG LEADERS E FUTURE OF BUSINESSWORLD FORTY
#IAmExceptional SCAN TO NOMINATE NOMINATIONS CLOSING SOON NOMINATE NOW EMINENT SPEAKERS DR. ANNURAG BATRA Chairman & Editor-in-Chief BW Businessworld & Founder, exchange4media SHANTANU DHAR CHRO Hindustan Power SHIKHA GUPTA CHRO Luminous Power Technologies VIEKAS K KHOKHA CHRO Sharda Motor Industries ABHAY KAPOOR Head – HR & Administration Suzuki Motor Gujarat RAJ KAMAL SINGHAL Director & COO Hitachi Systems India SANDEEP GIROTRA ED & Group CHRO DCM Shriram Ltd SHALEEN MANIK CHRO Transsion India (itel, Tecno & Infinix Mobiles) POONAM BHARTI ED & CHRO Shriram Pistons & Rings PRASHANT KHULLAR CHRO Ecom Express DEEPTI MEHTA CHRO Interface Microsystems ASEEM NATH TRIPATHI CHRO Multiplier Brand Solutions LOKESH SHARMA CHRO National Commodities Management Services SULBHA RAI Chief People Officer RenewBuy PRAVEEN PUROHIT Dy Group CHRO Vedanta Group SUNNY VERMA Group Head - L & OD JBM Group PALABATLA VENKATESH Vice President Human Resources Avineon India PRIYANKA GULATI Partner Human Capital Consulting Grant Thornton Bharat VIKRAM JIT SINGH Head HR - South Asia Li & Fung IRANI S ROY CHRO, Signify India Subcontinent Signify Innovations India PALLAVI PODDAR CHRO Fenesta Windows DEO KUMAR PANDEY Country People Director (Head of HR), Knauf India MONIKA GARG Associate Director Global HR Operations Support Fresenius Medical Care SRINIVAS REDDY P SVP & Head of Human Resources Pristyn Care AWARD CEREMONY AND MANAGEMENT LEADERSHIP & STRATEGY SUMMIT 30 APRIL 2024 fifffflffiflffffffiffifflff fifffflffifflflffiflflfl flfffflffiffl ffi ffl ffffl fi ffl fl flflflfl fl ffl ffl ffffl fifffflffi ffi ffffl AWARDS ffifflflffiflflflfl fl ffiffl ffl ffffl EXCEPTIONAL MANAGERS LEADERSHIP & STRATEGY SUMMIT 2024 MANAGEMENT
PRIME RNI Code No. DELENG19762 | April-May 2024 | Rs.300/ Volume 3 Issue 5 | Bi-Monthly | Published from Delhi in English Most Influential Women in HR
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How young founders are changing the paradigm with their ‘bean’ propositions Exclusive interviews with players leading the segment to newer heights The rise of the cofiee chains culture in India Brewing growth with national and international players taking the lead Exclusive Features and Interviews Opinions & Insights from Industry Leaders Ensure Your Brand’s Presence in this Special Issue!!! Aparna Sengupta, [email protected], +91 9958000128 Anjeet Trivedi, [email protected], +91 9818122217 Ravi Khatri, [email protected], +91 9891315715 CS Rajaraman, [email protected], +91 9342262859 Somyajit Sengupta, [email protected], +91 9818247444 Kiran Dedhia, [email protected], +91 9833399009 Sajjad Mohmmad, [email protected], +91 9911855935 Shruti Arora, [email protected], +91 7982628913 Deepak Bhatt, [email protected], +91 9429423232 Santosh B Singh, [email protected], +91 9820129879 Nitin Pawar, [email protected], 9456639006 fifffflffiflfflffifflffffl flflff For Editorial: Noor Fathima Warsia, [email protected] Final Material Deadline: May 14, 2024 BW EMERGING SECTOR SERIES Block your pages... EMERGING SECTOR – THE COFFEE ECONOMY Issue Highlights JUNE 1, 2024
6 BW PEOPLE APRIL - MAY 2024 WWW.BWPEOPLE.COM Growing up, we had heard of the saying “If age could; if youth knew.” The implication was that wisdom comes with age and experience, but sadly, by then, the energy level has ebbed. Fortunately, that is no more the case. We see leaders well past retirement age exuding high energy levels and inspiring all around them. I see them leading purpose-driven lives, keeping physically fit, running marathons, coming to meetings on time (in fact before the younger lot, in some cases) and showing mental agility. Happily, the reverse is also true. As the 40 Under 40 Awards of BW People demonstrated, we have HR leaders demonstrating grasp of the field, wisdom to take the right actions and steer organisational culture in large corporates. The screening process wherein they were subject to extensive questioning by the jury, revealed their grit. Their interviews in this issue of BW People bear testimony to their depth of understanding of HR. Similarly, our ‘Most Influential Women’ List, that recognised the contributions of so many women leaders to the HR field, celebrated the journey that we as a society have covered so far. The list of 25 women CHROs was arrived at by an advisory council with eminent HR experts in it. The job of the council was tough and we know that some names will be left out. Without taking away from the stellar work all these women leaders have done, we arrived at the list based on responses from the external industry experts, in the form of ‘yes’, ‘no’ or ‘maybe’. We asked each of the woman CHRO featuring on the list to write an opinion piece and the columns that we have received provide a window to the achievements of women in HR, especially in making workplaces more equitable and the challenges that still remain to be overcome. This issue also covers the highlights of a report titled ‘Unlocking Success: The Why and What of Employability Skills’, prepared by BW People in association with the Wadhwani Foundation. The report dissects the challenges faced by HR professionals in recruiting fresh and lateral talent for entry to mid-level skill positions. It identifies skill mismatches, the employability gap and limited industry exposure as primary hurdles. To overcome these challenges, the report recommends implementing skill development initiatives, internship programmes and continued learning opportunities. Happy Reading. ANURAG BATRA [email protected] WISDOM AHEAD OF TIME EDITOR’S NOTE
Business of Conclave & Awards 2024 This top minds from the luxury sector will gather under one roof to define what luxury means to India. We talk about what's driving the impressive growth of the Indian luxury sector. The conference will see leaders discuss growth potential, innovations, and future trends. This October, top minds from the luxury sector will gather under one roof to define what luxury means to India. We talk about what's driving the impressive growth of the Indian luxury sector. The conference will see leaders discuss growth potential, innovations, and future trends. This October, top minds from the luxury sector will gather under one roof to define what luxury means to India. We talk about what's driving the impressive growth of the Indian luxury sector. The conference will see leaders discuss growth potential, innovations, and future trends. This October The awards will recognize the most innovative brands in the Indian luxury sector. Contact: Jyotsna Sharma: +91 98993 53746, [email protected] Aparna Sengupta: +91 99580 00128, [email protected]
8 BW PEOPLE APRIL- MAY 2024 WWW.BWPEOPLE.COM CONTENTS APRIL - MAY 2024 24 20 HR 40 Under 40 BW People – Nurturing Talent for Future Conclave and 40 Under 40 Awards recognised the youthful talent in the HR domain in the country Varinder Kumar Verma, Head - HR Strategy & Transformation, Maruti Suzuki India, describes how the organisation is facilitating the employees’ learning journey through a multifaceted approach INTERVIEWS REGULARS 10 News 14 Appointments 16 Data Driven
WWW.BWPEOPLE.COM BW PEOPLE APRIL- MAY 2024 9 Covers’ design: Shivaji Sengupta TOTAL NO. OF PAGES: INCLUDING COVER 114 IN FOCUS SPECIAL INSIGHT REPORT SPECIAL STORY SPECIAL EVENT 70 86 88 72 75 76 82 Most Influential Women In HR – 2024 BW People presents its annual list on International Women’s Day, 8 March, honouring the grit and determination that women CHROs bring to the table. Also, columns on themes of empowerment, equity and inclusivity The Power of People Analytics BW People, in association with the Wadhwani Foundation, brings to you report titled ‘Unlocking Success: The Why and What of Employability Skills’ The Landscape of Green Jobs Deloitte’s SV Nathan Embarks On HR Consulting Venture India Tech Talent League 2023 – Conversations on AI Culture Building At KiE Square: Building A High-trust Organisation
10 BW PEOPLE APRIL - MAY 2024 WWW.BWPEOPLE.COM The Indian Banks’ Association (IBA) and bank employee unions have reached a consensus on a notable annual wage hike of 17 per cent, resulting in an estimated additional annual expenditure of approximately Rs 8,284 crore for public sector banks. This wage revision is set to benefit around 8 lakh bank employees and will come into effect from November 2022. According to the All India Bank Officers Confederation, the joint agreement entails the recognition of all Saturdays as holidays, pending official notification from the government. Additionally, revised working hours will be implemented following government notification. The new pay scales have been formulated by merging the Dearness Allowance corresponding to 8,088 points and additional load thereon. Notably, under the revised wage settlement, all female employees will be entitled to one day of sick leave per month without the requirement of a medical certificate. Moreover, accrued privilege leave can be encashed up to 255 days upon retirement or in the event of an employee’s demise while in service. Sunil Mehta, CEO, IBA, expressed the significance of this milestone for the banking industry, highlighting the signing of the 9th Joint Note and 12th Bipartite Settlement regarding Wage Revision for Bank Officers and Employees, effective 1 November 2022. For retired employees, it has been agreed that the monthly ex-gratia amount will be disbursed in addition to the pension/family pension provided by Public Sector Banks, including SBI, for pensioners and family pensioners eligible as of 31 October 2022, including those who retired on that date. According to Grant Thornton’s latest Women in Business Report 2024, 34 per cent of women in Indian mid-market businesses currently hold Senior Management (SM) positions, signifying a modest decline from 2023 (36 per cent) and 2022 (38 per cent). However, this figure reflects a significant surge from a mere 12 per cent in 2004 and 14 per cent in 2014, underscoring substantial progress over the past two decades. The report attributes the dip in women in SM roles to the evolving landscape of work models across industries. Businesses offering a hybrid model have decreased to 56.5 per cent in 2024 from 62.3 per cent in 2023 and those asking employees to return to the office have increased to 34.7 per cent in 2024 from 27.4 per cent in 2023. Staff working out of their homes has also significantly dipped to 1.8 per cent in 2024 from 5.3 per cent in 2023. The report highlights the need for parity and how the responsibility for leading DE&I initiatives is distributed across various key positions in an organisation. In India, 53.3 per cent of Chief Executive Officers (CEOs) and Managing Directors (MDs) take on crucial roles in spearheading efforts to foster diversity and inclusivity. Additionally, 19.6 per cent of Chief Operating Officers (COOs), 18.2 per cent of Chief Financial Officers (CFOs), and 17.2 per cent of Chief Diversity Officers (CDOs) are instrumental in championing these initiatives in our country. The report also shows how businesses in India measure DE&I through various metrics, including gender pay equality (48.4 per cent), employee perception of inclusion (43.5 per cent), percentage of female employees by management level (42.5 per cent) and percentage of promotions gained by women (39.3 per cent). NEWS Bank Employees Granted 17% Annual Pay Hike Women’s Leadership Sees Modest Decline In 2024
WWW.BWPEOPLE.COM BW PEOPLE APRIL - MAY 2024 11 Samsung Group has launched its first major open recruitment drive of the year, aiming to hire 80,000 new employees over the next five years, beginning in 2022, announced Korea’s business conglomerate. Until 18 March, the conglomerate’s 19 subsidiaries, including Samsung Electronics, Samsung Biologics and Samsung C&T, accepted applications. Last month, these companies began seeking new hires across 90 career sectors, targetting individuals with job experience and meeting academic eligibility criteria, including foreign candidates. Samsung is actively expanding its workforce. Between 2018 and 2020, the conglomerate recruited over 40,000 workers. The initiative to recruit women with university degrees began in 1993 and by 1995, Samsung had eliminated degree requirements from its application process entirely. Samsung has been nurturing talent through educational initiatives and competitions. The Samsung Software Academy for Youth offers free lessons to students in various cities across Korea, while the Samsung Dream Class provides middle school students from underprivileged backgrounds with complimentary academic resources, including tutoring and coding lessons. The conglomerate has also been a key sponsor of youth skills competitions both in Korea and internationally. In 2006, Samsung partnered with the Ministry of Employment and Labour to jointly nurture aspiring individuals, subsequently sponsoring the country’s annual youth skills championships. Additionally, Samsung has sponsored the international youth skills Olympics for eight consecutive years, starting with WorldSkills Shizuoka 2007. Providence Health, a US hospital chain, has opened a new facility in Hyderabad, India, with the goal of concentrating and bolstering services such as cybersecurity and tools that assist doctors with paperwork. The Renton, Washington-based non-profit organisation, which manages 52 hospitals in the United States, was already using its current Hyderabad location as a hub for technology, human resources and finance. The facility, which currently employs roughly 1,400 people, intends to partner with other hospital operators, increasing its employment to 3,500 by next year, president and CEO Rod Hochman told a news agency, in an interview. “To do it all by yourself inside of your shop, even if you’re a bigger health system, makes no sense at all,” he said. Providence has already engaged approximately 70 workers to deliver some of these services to US healthcare firm AdventHealth and it is in talks with more healthcare service suppliers. Providence India To Double Headcount To 3,500 Employees Samsung Group Aims To Hire 80k Staff In Next 5 Yrs
12 BW PEOPLE APRIL - MAY 2024 WWW.BWPEOPLE.COM Samsung Semiconductor India Research (SSIR) has opened its new R&D facility in Bengaluru. The expansion marks a milestone in SSIR’s commitment to driving semiconductor research and development in India, while addressing the company’s growing needs for advanced infrastructure. This is SSIR’s second office in Bengaluru, with a capacity to accommodate close to 1,600 professionals. Located at Bagmane Capital Tech Park in Angkor-West, the facility spans over 1, 60,000 square feet across four floors. The new campus of SSIR features a modern, openplan layout across four floors, encouraging collaboration and agility. The design includes designated hot-desking areas for workforce flexibility. There are over 60 meeting rooms for seamless communication and amenTesla Power India intends to hire around 2,000 people across multiple verticals as part of its expansion plans. The planned recruitment drive will include positions in engineering, operations, sales, marketing and support functions, providing several job chances for young people, according to a statement. The company that provides sustainable energy storage solutions also recently established ReStore, a refurbished battery brand. It intends to open 5,000 ReStore locations across the country by 2026 Samsung Semiconductor India To Hire Over 700 Staff At New R&D Facility Tesla Power India To Hire Over 2k Employees ities such as a cafeteria, medical facilities, dedicated nap rooms and recreational areas for rejuvenation for all employees. Transport shuttle services are also available. SSIR currently has a strength of over 4,500 employees and will add over 700 people including fresh graduates as well as lateral hires across teams in India. NEWS
WWW.BWPEOPLE.COM BW PEOPLE APRIL - MAY 2024 13 I ndian Institute of Technology (IIT) Roorkee and Micron have forged a partnership through a Memorandum of Understanding (MoU) aimed at bolstering India’s semiconductor industry and enhancing the electronics ecosystem. The collaboration is expected to spur innovation, cultivate a skilled workforce, drive technological research, offer practical learning opportunities for students, enhance recruitment efforts and provide industry-relevant training. Under the agreement, the Micron Semiconductor Lab will play a pivotal role in equipping IIT Roorkee with essential technical expertise, processes and resources. Through initiatives such as student internships, fellowships, specialised master’s and doctoral programmes and an enriched curriculum, the lab will emphasise the significance of local technical knowledge. Additionally, the partnership will involve the establishment of a dedicated physical laboratory and a team of professors committed to mentoring students closely in their technical development. The MoU, signed by KK Pant, Director, IIT Roorkee, and Anand Ramamoorthy, Vice President and Managing Director at Micron India, marked the commencement of the collaboration, followed by the inauguration of the Micron Semiconductor Lab at the Department of Electronics and Communication Engineering, IIT Roorkee. IIT Roorkee, Micron Team To Advance Skill Development Canva, the global all-in-one visual communication platform, has announced its partnership with the Central Board of Secondary Education (CBSE) to introduce visual communication to educators throughout CBSE-affiliated schools in India. The programme is aimed at enhancing digital creativity skills amongst principals and teachers and is expected to benefit over 8,40,000 teachers and over 25 million students across CBSE schools in India. Canva for Education is a tool designed to enhance the learning experience for teachers, students and staff alike. With over 70,000 educational templates, this innovative platform offers a wide range of features that make it easy for educators to create visually engaging content for their lessons, presentations and school materials. The collaboration will involve a comprehensive series of workshops to demonstrate the full potential of Canva to educators, from enabling classroom design thinking and enhancing lesson plans to refining educational materials and fostering meaningful engagement in the classroom. The first phase of the training series will begin with nearly 30,000 teachers undergoing orientation and workshops aimed at learning about innovative teaching methodologies. The teachers will also be welcomed to join the ‘Canva for Teachers’ community to continuously improve their digital storytelling capabilities. Canva, CBSE Collaborate To Train Educators In Visual Communication
14 BW PEOPLE APRIL - MAY 2024 WWW.BWPEOPLE.COM Rubi Khan Joins Luminous Power Technologies As Head - Culture, Learning, Talent & DEI Rubi Khan has been appointed as the head of culture, learning, talent & DEI at Luminous Power Technologies, a part of the Schneider Electric Group, effective January 2024. Commenting on her new appointment, Khan told BW People, “I am feeling absolutely grateful for this opportunity. I very strongly believe in the framework of experience maps. I feel as a professional while we grow on designations and compensation, a very pivotal aspect is broadening the horizon of my work. The scale, scope and depth of work becomes imperative. Hence, I felt this is the right opportunity to enrich my learning curve.” In her new role, Khan will lead DEI while building a learning organisation. She will also spearhead succession planning, create talent bench strength and facilitate cultural transformation and HR strategy. “I am very clear that I have to contribute towards organisational growth by aligning people initiatives with business outcomes,” she added. Prior to this, Khan has served at several organisations including HPCL- Mittal Energy, REA India, Max Life Insurance, The Muthoot Group, Door Training & Consulting Ireland and Hero Mindmine. APPOINTMENTS Dheeraj Modi Joins Ericsson India As Head - Talent Acquisition Dheeraj Modi has been appointed as the Head Talent Acquisition for South East Asia, Oceania and India at Ericsson India, effective 4 January 2024. “In an era where connectivity is more crucial than ever, I am thrilled to contribute to Ericsson’s mission of shaping the future of communication and connectivity. This transition is not just about changing jobs; it’s about embracing the future with a company that shares my commitment to driving positive change and making a meaningful impact at a global scale,” Modi told BW People. Prior to joining Ericsson, Modi served as the vice president of human resources & HR head at NLB Services where he was responsible for spearheading business strategy, consulting, employer branding, leadership development and HR strategy. Commenting on his new appointment, Modi further added, “The dynamic business landscape demands constant adaptation and joining Ericsson is a strategic step towards aligning my skills with a company that not only values technological excellence but also places a strong emphasis on human connection.” Previously, Modi has been associated with Ericsson as the HR business partner from May 2007 to December 2017. After serving more than a decade at the organisation, he moved on to the position of associate general manager at Schneider Electric, before joining NLB Services in November 2020. A postgraduate from Institute of Management Technology, Modi is an expert in global talent acquisition, employee relations, leadership development and creating high performance culture through strategic HR.
WWW.BWPEOPLE.COM BW PEOPLE APRIL - MAY 2024 15 Lupin Appoints Ola’s Rakesh Bhardwaj As CIO Lupin, a global pharmaceutical company, has appointed Rakesh Bhardwaj as its new Chief Information Officer (CIO). Based in Mumbai, Bhardwaj will oversee Lupin’s worldwide information technology operations and drive the company’s digital transformation. With over thirty years of experience, he has successfully built and managed advanced IT teams and systems for major global enterprises. Bhardwaj’s previous roles include serving as group chief information officer at Ola and holding leadership positions at Cognizant, Microland, General Electric and BISIL. He holds a Bachelor’s degree in Computer Science Engineering from Gulbarga University, Karnataka. Commenting on the appointment, Ramesh Swaminathan, Executive Director, CFO and Head – Corporate Affairs, Lupin said, “Information Technology plays a critical role in advancing and expanding our horizons as a global pharmaceutical leader. We are pleased to welcome Rakesh to Lupin, further enhancing our IT foundation. With his expertise, he will drive our efforts in digitalisation, process automation, data management and analytics, all of which will reinforce Lupin’s position as a frontrunner in innovation and excellence within the industry.” TS Babu Joins Vasavi Group As Corporate Head - HR & OD Aon Names Rishi Mehra As Head Of India TS Babu has been appointed as the corporate head for HR & OD at the Vasavi Group, effective January 2024. Commenting on his appointment T S Babu told BW People, “I am quite excited to assume this challenging responsibility as it offers me a large platter of transformational opportunities. In my new role, my focus would be on developing sustainability to the company’s exponential growth by enabling delivery of superior customer and employee experience, build a high-performance culture, process excellence and robust people systems and practices.” “The vision of Vasavi Group is to emerge as a leading real estate company enabling happy memories, every single day,” he further added. An organisational transformation specialist, Babu is an expert in building upon TQM framework, design & deployment of balanced scorecards and HR strategy, cultural transformation, talent engagement, leadership and talent pipeline development and tactical IR management. Previously, Babu has held key leadership roles at Keystone Business Consulting, Biophore India Pharmaceuticals, SEW Infrastructure, L&T, Suzlon Wind Energy and Lanco. Aon plc, a global professional services firm, has appointed Rishi Mehra as head of India, effective immediately. Mehra will be based in Mumbai and report to Anne Corona, chief executive officer of Asia Pacific at Aon. He will join Aon’s Asia Pacific Executive Committee and Global Executive Leadership Team. Working closely with Jon Pipe, CEO and principal officer of Aon India Insurance Brokers and Nitin Sethi, CEO of Aon Consulting, Mehra will bring together the collective capabilities across risk, health, wealth and talent consulting under a single leadership model, to harness the combined breadth of Aon’s expertise and solutions for clients across India. Mehra will also play a key role in the integration of Global Insurance Brokers during the year. Upon completion, the acquisition will expand Aon’s existing capabilities bringing together an integrated team of over 1,000 colleagues across Aon in India. Mehra joined Aon in 2003 holding several senior finance roles across the Asia Pacific region, most recently serving as chief financial officer, Asia and Greater China. Prior to joining Aon, he worked at PepsiCo and PWC in India in consulting and business planning roles. Mehra will begin transitioning to his new role immediately and will be based in Mumbai by mid-2024.
Data Driven 16 BW PEOPLE APRIL - MAY 2024 WWW.BWPEOPLE.COM 9.6% AVERAGE SALARY INCREASE For India Inc In 2024 › ‘Future of Pay 2024’ Report of Ernst & Young reveals attrition decline nears pre-Pandemic levels By Team BW People
Data Driven WWW.BWPEOPLE.COM BW PEOPLE APRIL - MAY 2024 17 Retention tools used by organisations According to the second edition of EY ‘Future of Pay 2024’ report, India Inc is set for an average salary increase of 9.6 per cent in 2024, similar to the actual increase in 2023. Overall attrition dropped to 18.3 per cent in 2023 (from 21.2 per cent in 2022) and is set to gradually decline over the next few years as companies prioritise cost management and employee wellbeing, stabilising the workforce amidst high talent demand. In light of India’s position as a global hub for technology and outsourcing services, the EY report highlights that e-commerce is expected to have the highest salary growth in 2024, at 10.9 per cent, followed by financial services with a projected growth of 10.1 per cent. Professional services’ salary is set to grow by 10 per cent in 2024, suggesting a rebound as companies invest in strategy alignment to navigate global business complexities. The impact of real estate and infrastructure as an emerging sector is also visible, as increments continue to be stable at 10 per cent. As per the EY report, 35-40 per cent of the technology workforce is made up of digital talent, a figure that is expected to become more crucial in the future. Amongst digital skills, super niche skills like artificial intelligence (AI), machine learning (ML) and blockchain skills are highly sought-after, commanding a premium in the range of 30-50 per cent. Attrition across sectors As per the report, attrition rates in India have been fluctuating, influenced by macroeconomic factors and internal corporate strategies. Overall attrition dropped to 18.3 per cent in 2023, from 21.2 per cent in 2022. The highest levels of attrition in 2023 prevailed across financial services (24.8 per cent), professional services (24.2 per cent) and information technology (23.3 per cent). Frequency of retention bonus In 2023, voluntary attrition decreased slightly, while involuntary attrition rose, particularly among global companies, indicating layoffs in the IT and startup sectors due to global economic changes. Indian companies, however, showed resilience and performed better, experiencing less impact from economic shifts. Looking forward, attrition is expected to gradually decline over the next few years as companies focus on cost management and increased employee wellbeing amid high talent demand, thereby stabilising the workforce. Trends in total rewards Eighty per cent of the organisations emphasised the importance of ‘pay and benefits’ and a need to move away from traditional employee benefits in the modern workforce. Top three areas of focus for employers are benefits cost planning (43 per cent), employee wellness (29 per cent), evaluating and aligning with industry standards (20 per cent). At 43 per cent, variable pay plan (non-sales) are the most common type of incentives plans offered in the organisation, followed by discretionary incentives (32 per cent) and sales incentive plan (21 per cent). The report reveals that in terms of job levels, executives (CXOs) typically get the most variable pay, but their projected salary in-
Data Driven 18 BW PEOPLE APRIL - MAY 2024 WWW.BWPEOPLE.COM Types of incentives plans offered in the organisation creases for 2024 are lower than those in 2023. Most employee levels are experiencing decreased variable pay percentages for 2024, except for the lowest-paid tiers, which might see a slight uptick. On an average, organisations distributed variable bonuses equivalent to 15.05 per cent of employees’ annual fixed cash in 2023. LTIPs are becoming increasingly diverse, flexible and strategic The report highlights that organisations have been creatively revamping their long-term incentive plans (LTIPs) in recent years. Shifting from cash rewards to stock incentives, around 26 per cent of companies focussed on LTIPs for performance rewards in FY23. There is also a marked increase in penetration of this rewards component across non CXO cadres fuelled largely by the booming new age digital enterprise growth in India. Top talent trends as we head into 2024 Hybrid work cultures is gaining importance as it helps enhance work-life balance, productivity and satisfaction. Unique hiring trends are observed in various sectors, like formation of ESG teams in financial services sector. There is an increasing trend towards ESG reporting among Indian companies with 60 per cent firms already utilising or on their way to utilise ESG policies. Diversity, equity and inclusion (DE&I) initiatives have become a pivotal part of corporate strategy. The top three DE&I initiatives are gender pay parity, defined DE&I policies and a diversifying talent pool. AI and automated reward systems are personalising rewards and streamlining the rewarding process, reducing manual work. Going forward, companies are poised to utilise AI algorithms to customise benefits and improve employee satisfaction. Salary increment %
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PERSPECTIVES 20 BW PEOPLE APRIL - MAY 2024 WWW.BWPEOPLE.COM › Varinder Kumar Verma, Head - HR Strategy & Transformation (Corporate Human Resources), Maruti Suzuki India, describes how the organisation is facilitating the employees’ learning journey through a multifaceted approach “Skill, Scale & Scalability -At The Core Of Digital Transformation”
PERSPECTIVES WWW.BWPEOPLE.COM BW PEOPLE APRIL - MAY 2024 21 I n the dynamic landscape of the global automotive industry, the quest for a skilled workforce and sustainable practices has become paramount. As the demand for cutting-edge skills accelerates, companies are redefining their strategies to bridge the skill gap and align with the imperatives of a sustainable future. Varinder Kumar Verma, Head - HR Strategy & Transformation, Maruti Suzuki India, delves into industry-centric initiatives, emphasising the collaborative efforts between corporations, academia and government to nurture talent and promote sustainable practices. Corporate-academia interface Industry leaders worldwide are recognising the need for a symbiotic relationship between corporations and educational institutions. Collaborations, such as those between Maruti Suzuki and the National Skill Development Corporation (NSDC) in India, exemplify the global trend. These partnerships ensure that educational programmes align with industry demands, fostering a pipeline of skilled professionals. “As emerging technologies like fusion AI, edge computing, generative AI, ChatGPT & Video ChatGPT are reshaping industries and talent landscape globally, the corporate-academia interface becomes crucial in preparing the workforce for the challenges ahead,” highlights Verma. Futuristic skills development The automotive industry’s future lies in the hands of professionals equipped with skills aligned with emerging technologies. Companies, following a ‘build versus buy’ strategy, are actively identifying and nurturing these skills. Maruti Suzuki’s initiatives, including the Maruti Suzuki Training Academy and collaborations with government institutions and prestigious engineering and management schools, showcase a commitment to developing a workforce ready for the demands of tomorrow. These programmes serve as a blueprint for global corporations seeking to stay ahead in the race for talent. “Notably, our attention extends to cultivating expertise in testing and other unique critical skills that are currently scarce. Addressing the contemporary challenge, we recognise that certain skills are becoming obsolete rapidly, while emerging ones require swift development,” adds Verma. Human touch in skill development In an era where technology dominates, preserving the human touch in skill development remains critical. HR divisions globally are focussing not only on technical skills but also on behavioural and leadership skills. A mix of traditional classroom learning, on-the-job training and immersive learning experiences, incorporating augmented and virtual reality (AR & VR), are becoming standard practices. This approach ensures that professionals are not only technically proficient but also possess the interpersonal skills necessary for collaborative and innovative work environments. “We are facilitating the employees’ learning journey by providing support and creating various avenues for skill acquisition. This involves a multifaceted approach, integrating on-theIn an era where technology dominates, preserving the human touch in skill development remains critical job training, experiential learning and immersive techniques through gamification and augmented reality interventions. The incorporation of AR and VR technologies is complemented by the establishment of dexterity schools, enhancing the overall learning experience,” says Verma. Maintaining a human touch at the core of the HR practices, Maruti Suzuki prioritises the 3C’s: Communication, Compassion and Collaboration. This underlines the commitment of the organisation to a sanitised and an empathetic workplace. Workplace trends and transformations The evolving nature of work has prompted organisations to redefine their workplace structures. With a nuanced understanding of tasks, organisations can categorise roles based on their physical or digital nature, allowing for flexible work models. The post-Covid era has witnessed a surge in hybrid work environments, with tasks categorised as physical, hybrid or entirely remote. This shift serves as a model for the global automotive industry as it adapts to the changing dynamics of work. “We are strategically aligning tasks and roles with business By Savi Khanna
PERSPECTIVES 22 BW PEOPLE APRIL - MAY 2024 WWW.BWPEOPLE.COM needs. Identifying physically intensive jobs like car assembly or machine work, we acknowledge their necessity. Additionally, we have categorised roles as partially remote, allowing for tasks like design to be done from home and implemented on-site. While full remote work is limited due to cultural considerations, there’s a gradual shift towards embracing this approach,” shares Verma. Green HR and sustainability As global industries align with environmental, social and governance (ESG) norms, sustainability has become a cornerstone of corporate strategies. Companies are establishing dedicated divisions for ESG and sustainability, echoing their commitment to being carbon and technology-neutral. The paramount consideration in this technological evolution is the careful evaluation of advancements to ensure that human roles are not compromised. This approach maintains sensitivity, prioritising the human element and fostering socially responsible enterprises for enduring sustainability. Automotive industry-wide endeavours are concentrated on three pivotal dimensions: achieving economies of scale, optimising operational efficiency and harnessing the potential of enabling technologies. Technology, functioning as a universal enabler, plays a critical role in augmenting human capabilities and fortifying foundations for a sustainable future. “We have made significant strides in prioritising environmental sustainability. Over the past few years, our HR division has been dedicated to Green HR initiatives. A key achievement has been the swift implementation of ‘NEEV’ (Nurturing Employee Experience and Value) platform, enhancing the overall employee experience within a remarkably short timeframe – what we fondly term as the ‘four months wonders,” adds Verma. The core of Maruti Suzuki’s digital transformation foundation, represented by NEEV, centres on the three S’s: Skill, Scale and Scalability. This framework aims to achieve the three E’s - Efficiency, Economy and Effectiveness. In tandem, the corporate initiatives are guided by the GPS principles: Growth, Profit and Sustainability. Green Human Resources (HR) practices are emerging as a global focal point, reflecting a collective commitment to environmental responsibility and operational efficiency. These initiatives transcend individual organisations, signifying a broader industry-wide dedication to incorporating sustainable practices into the very fabric of HR strategies. Retention strategies and internal mobility Employee retention strategies are becoming increasingly sophisticated, with a focus on creating inclusive cultures and aligning individual aspirations with organisational goals. Companies are adopting rolebased organisational models, evaluating skills, identifying gaps and providing development opportunities. Transparent communication of career paths fosters internal mobility, ensuring that employees feel valued and engaged. “Maruti Suzuki’s remarkably low white collar attrition rate of 2. 9 per cent serves as a testament to the success of such strategies in retaining talent.” The automotive industry is at the forefront of a global paradigm shift in workforce development and sustainability. Companies worldwide can draw inspiration from initiatives undertaken by industry leaders understanding that collaboration, futuristic skills development, human-centric approaches and sustainability are integral to steering the industry toward excellence. The automotive industry is at the forefront of a global paradigm shift in workforce development and sustainability
24 BW PEOPLE APRIL - MAY 2024 WWW.BWPEOPLE.COM HR 40 Under 40 By Team BW People › Representing diverse sectors and functions, these HR leaders show remarkable proven credentials in shaping organisational culture and motivating teams BW People’s 40 Under 40 Awards To A Promising Young Brigade T he highly anticipated 4th edition of the BW People Nurturing Talent For Future Conclave & BW People HR 40 Under 40 Awards, an initiative that recognises and celebrates the achievements of the young human resource professionals, successfully concluded on December 20 2023, at The Imperial, New Delhi. The initiative was organised by BW Businessworld to engage with the next generation of HR leaders, exchange ideas and explore opportunities for collaboration. The BW People HR 40 Under 40 Awards served as a platform to honour the remarkable contributions and accomplishments of individuals under the age of 40 who have made a significant impact in the HR industry. The jury comprised of P Dwarakanath, Former Chairman, GSK Consumer Healthcare; SY Siddiqui, Former Executive Advisor, Maruti Suzuki India; Rahul Taneja, Managing Director, Essar Capital; Prem Singh, President - Group Human Resources, JK Organisation; Rajendra Mehta, Group Human Resources Head, Suzlon Group; Harshvendra Soin, President – Asia Pacific & Japan Businesses, Tech Mahindra; C Jayakumar, Executive Vice President and Head – Corporate Human Resources, Larsen & Toubro; Yuvaraj Srivastava, Group Chief Human Resources Officer, MakeMyTrip; Vishpala Reddy, Head of Human Resources, Philips Indian Subcontinent; Pradyumna Pandey, Manufacturing HR Head, Hero MotoCorp; Amit Sharma, Vice President, Head - People & Culture – India, Volvo Group; Prasanth Nair, Chief Human Resources Officer, Crompton Greaves Consumer Electricals; Aarti Srivastava, Chief Human Resources Officer, Capgemini India; Gaurav Saini, Global Chief Human Resources Officer, Wadhwani Foundation; Ruchi Sharma Kalra, CHRO, Give; Dheeraj Modi, Head – Talent Acquisition – South East Asia, Oceania and India, Ericsson; Talees Rizvi, Director, BW People & BW CFO World, BW Businessworld and Annurag Batra, Chairman & Editor-in-Chief, BW Businessworld and Founder, exchange4media. After careful evaluation of over 100 nominations, the jury selected and recognised the top 40 HR professionals for their exceptional contributions. “As a jury member at the BW People HR 40 Under 40 Awards, I was inspired by the remarkable achievements of young talent in HR. Their dedication, innovation and commitment to shaping the future of work are not just commendable; they are transformative forces that propel the entire industry into new horizons. Each individual recognised is not merely an emerging leader but a catalyst for positive change, redefining the very essence of human resources in the digital age,” shared SY Siddiqui, Former Executive Advisor, Maruti Suzuki India.
WWW.BWPEOPLE.COM BW PEOPLE APRIL - MAY 2024 25 HR 40 Under 40 40 UNDER 40 IN HR NOMINEE DESIGNATION ORGANISATION Anuj Vadehra Head-Performance and Rewards Lenskart Aparna Madireddi Senior Manager- Employee Experience Providence India Bhawna Verma Senior Manager - HR Larsen & Toubro Chetna Mathur Vice President, HRBP NatWest Group Dr. Sughosh Tembre HR Business Leader Infosys Esha Kapoor Director - HR KPMG Garima Sangwan Senior Director - HR Accops Systems Hitesh Premdas Babani VP - Total Rewards DBS Bank Inder Kumar Senior Associate Director KPMG Global Services Jinal Shah Corporate Lead – Remuneration & Benefits Apraava Energy Jyoti Prakash Mallick Head – Rewards, Talent and Learning Godrej Properties Kavita Joshi Associate Director, People & Culture Yellow.ai Kshatriya Sundeep Singh Head - HR Hester Biosciences Meghana Rao Senior Regional Delivery Manager AtkinsRéalis Mohammad Saqib Associate Vice President - People eXperience Innovaccer Analytics Mohit Budhraja HRBP - Services and Solutions Group Lenovo India Navin B Lead People & Culture Business Partner Vestas Wind Technology India Navneet Singh Founder and CEO AVSAR HR Services Navreet Anand VP, People & Transformation NatWest Group Neha Shrivastava Chief Manager (HR) GAIL (India) Nirali Trivedi Group HR Head Elecon Group of Companies Pearl Garg Sr. HRBP Amazon India Poulomi Saha Senior Unit Manager - BP HR Infosys Pronoy Dey Deputy Manager Learning, Research & Technology Tally Solutions Reshmi Thomas Principal- Employee Relations Infosys Richa Jha Associate Director - HR MakeMyTrip Sandeep Gautam Head - HR Adani Energy Solutions Santosh Bayaluseeme Raghunath HR Director: Leadership and Culture COE NTT Data Services Shaitansingh Bishnoi HR Business Partner Adani Group Shambhavi Misra Senior Associate Director KPMG Global Services Shashwat K Mitra Global Head of Human Resources KPIT Technologies Sheeba Tyagi HR Transformation Leader - Soni Bundele Manager - Human Resources Indian Hotels Company Srijeet Sarkar Director Human Resources redBus (GO-MMT Group) Surabhi Singhal DGM - Softlines and Hardlines, India and Mauritius Intertek India Sushil Patel Sr. Manager - HR MakeMyTrip Tushar Prabhakar AVP - HR HDFC Credila Financial Services Vignesh Seetharaman Head – Corporate HR Mondelez India Vikram Singh Director HR InsuranceDekho Yadhu Kishore Nandikolla Head of Human Resources MassMutual India Note: Some designations and organisations have changed since the awards.
HR 40 Under 40 26 BW PEOPLE APRIL - MAY 2024 WWW.BWPEOPLE.COM Multiple Dimensions Of Talent Addressed › A stellar gathering of eminent HR professionals enriched the ‘BW People – Nurturing Talent for Future Conclave and 40 Under 40 Awards’ with their unique perspectives By Team BW People I n his keynote address at BW People Nurturing Talent For Future Conclave & HR 40 Under 40 Awards, SY Siddiqui, Former Executive Advisor, Maruti Suzuki, shed light on Maruti Suzuki’s success in nurturing leaders internally, with 48 out of 50 leaders emerging from their talent pipeline. Drawing from Japanese teachings and Indian culture, he stressed the significance of practical application in leadership development. He emphasised the cultural shift within the organisation towards honesty and accountability among senior executives. This transformation over the past 15-20 years reflects the evolving organisational culture, he added. The focus on business-centric initiatives, such as reducing the weight of car components, exemplifies Maruti Suzuki’s approach. Siddiqui underKeynote Address: ‘Charting Success: The Art of Talent Empowerment’ by SY Siddiqui lined the meticulous business thinking instilled in young engineers, b-school graduates and chartered accountants during their structured training. The principle of job rotation emerged as a key strategy, aligning with Siddiqui’s belief in leadership development through exposure to various functions, geographies and adversity. Looking ahead, Siddiqui outlined Maruti Suzuki’s ambitious goal of doubling his achievements in the next seven years. The company aims to create a leadership culture based on good character, echoing Japanese values of modesty, simplicity and a strong character prioritising country, community, corporate, family and self.
HR 40 Under 40 WWW.BWPEOPLE.COM BW PEOPLE APRIL - MAY 2024 27 Speaking on the theme ‘Strategic Talent Management: A Roadmap for Future Growth’, C Jayakumar, Executive Vice President and Head, Corporate Human Resources (CHRO), Larsen & Toubro, described the boom that India is witKeynote address by C Jayakumar nessing. With India looking at 5 trillion economy by 2025 and 30 trillion economy by 2047, he said that the period leading up to 2047 will be a remarkable phase. “The only thing that can stop us from growing is getting the right talent. This is why the role of HR managers is important.” He described the initiatives at L&T for hiring and retention of talent. Emphasising that people are the real assets, he said that at L&T they are kept motivated through challenging roles and rotating them from one project to another. They also have a sense of purpose, being part of an organisation that can be called ‘builders to the nation’. Questions of trust &transparency, evaluation, career growth &continuous learning and reward & recognition are addressed through well-thought-out methodologies. He also delved on how to develop leadership pipeline, including identifying critical roles in the organisation that would impact people, putting down performance criteria, identifying people with potential and monitoring them, identifying the gap areas and making an action plan to groom them for leadership role. The panellists shared their insights into the diverse strategies they employ to effectively hire and nurture talent, while ensuring it becomes a catalyst for the continued growth and success of their respective organisations. Yadhu Kishore Nandikolla, Head of Human Resources, MassMutual India, said, “College graduates, due to their current education system, often possess limited knowledge about industry requirements. To bridge this gap, fostering industry-applicable knowledge through campus outreach programmes, guest lectures from industry leaders are key.” Deepnarayan Tripathi, Group Head Human Resources, Tenon Group, suggested that organisations should make potential employees aware of the company’s requirements and work culture during the hiring process to align with the changing expectations of the new generation and right talent. Biren Anshu, Chief Human Resources Officer, The Hitech Robotic Systemz, shared, “Leaders believe in the skills. We hire fresh college graduates for a 6-month internship programme, providing them with industry exposure and firsthand corporate experience. This allows us to test their fitness for permanent full-time employment accurately.” Panel 1: Strategic HR in Education Nupur Nagpal, Chief Human Resources Officer, Myntra, shed light on the company’s unique approach to talent acquisition. “By organising yearlong competitions in educational institutions, Myntra not only recognises outstanding individuals but also provides them with an opportunity to join the organisation. This proactive engagement enables students to understand industry expectations while assisting companies in discovering promising talent.” Panel 1: (L to R): Meha Mathur, Sr Associate Editor, BW People; Yadhu Kishore Nandikolla, Head of Human Resources, Mass Mutual India; Deepnarayan Tripathi, Group Head Human Resources, Tenon Group; Biren Anshu, CHRO, The Hitech Robotic Systemz; and Nupur Nagpal, CHRO, Myntra
HR 40 Under 40 28 BW PEOPLE APRIL - MAY 2024 WWW.BWPEOPLE.COM Panel 2: HR Led Innovations in Talent Development “Artificial intelligence (AI) and machine learning (ML) help us understand the skill and competence gap from the business perspective. Further, technology also enables hyper-personalisation of a learning intervention for people,” said Deepak Dobriyal, Senior Vice President, Global Leader Talent Management and Corporate HR, Birlasoft. Dobriyal further emphasised that skills are not only at the centre of HR, but it is also at the centre of the business, that is what enables the revenue. It is imperative for organisation to analyse the skills mix and career path, as each role has three dimensions- functional, behavioural and skill combination. Once you have this three-dimensional information, it helps to cascade it to each individual in the organisation. Highlighting talent management beyond traditional training programmes, Agniwesh Thakur, Director – Human Capital, Deloitte, said, “Business demands multiple qualities in a person; however, the talent is not there. From writing accurate job descriptions to finding relevant talent, AI has enabled us to mitigate that dynamic challenge.” Talent acquirers and HRs also need to leverage through learning new-age IT skills and companies should essentially invest in upskilling. Classroom learning along with the job is difficult, hence such technology-led learning creates an opportunity to upskill the in-house resources, added Thakur. Rubi Khan, Head- Culture, Learning, Talent and DEI, Luminous Power Technologies, emphasised on the importance and inculcation of the growth mindset in the organisation stating, “As HR practitioners we need to have a huge tenacity to drive talent development within the organisation; we need participation from leaders and that has to be a part of their key responsibility areas (KRAs) and key performance areas (KPIs).” Abhishek Kumar, Head HR, Ericsson Global India, shared, “Technology is our pulse and it is pivotal for us that continuous learning is there in our core system because we are experimenting with 6G and 7G. It is very imperative for us to have a very well-defined learning programme.” Kumar explained his organisation’s AI-enabled programme called ‘degree’, which empowers the job role dynamic and keeps in loop with changing job roles while defining the required job skills. The session was chaired by Rashmi Mansharamani, Chief Human Resources OfPanel 2: (L to R): Abhishek Kumar, Head HR, Ericsson Global India; Agniwesh Thakur, Director – Human Capital, Deloitte; Deepak Dobriyal, Senior Vice President, Global Leader Talent Management and Corporate HR, Birlasoft; Rubi Khan, Head- Culture, Learning, Talent and DEI, Luminous Power Technologies; and Rashmi Mansharamani, Chief Human Resources Officer, Corporate Head (Human Resources) The Wave Group Panel 3: (L to R): Deepti Mehta, Chief Human Resources Officer, Interface Microsystems; Dheeraj Modi, Head Talent Acquisition – South East Asia, Oceania and India, Ericsson; Megha Gupta, Head of Human Resources, C2FO; Rajesh Mohan Rai, CHRO and Director, Servotech Power Systems; Rakesh Prasad, AVP – HR (IFS)and Lead – Diversity Equity & Inclusion, IndiGo; and Savi Khanna, Correspondent, BW People & BW Businessworld
HR 40 Under 40 WWW.BWPEOPLE.COM BW PEOPLE APRIL - MAY 2024 29 ficer, Corporate Head (Human Resources) The Wave Group. Panel 3: HR Strategies for Inclusive Talent Management Among all the HR strategies, including people from diverse backgrounds in the company is essential to escalate the organisation’s productivity and benefit the larger society. When individuals from diverse social backgrounds work together, it strengthens the core of the company’s fundamentals which is ‘unity in diversity’. The panellists at the session on inclusivity unanimously expressed sentiments to this effect. Deepti Mehta, Chief Human Resources Officer, Interface Microsystems, said that for her company diversity is not limited to gender-specific hiring only. She added, “We have different segments but hiring is the only strategy we use, we make sure that whenever the talent is there, that talent has been retained. The opportunities which we provide to all the employees are very different.” She highlighted that because of technology’s presence, talent scarcity is very high. Dheeraj Modi, Head Talent Acquisition – South East Asia, Oceania and India, Ericsson, highlighted the long-coming presence of diversity, equity and inclusivity in the HR fraternity and considers them to be the golden words. Modi said that his organisation believes that the right way to practice diversity in any organisation is through ‘awareness’. He also mentioned that diversity in India is very different compared to other developed countries. According to him, storytelling can be the best way to bring out all the struggling stories from different communities that will eventually inspire people out there. Megha Gupta, Head of Human Resources, C2FO, divided the diversity into internal and external and said most organisations are focussed on internal diversity; colour, sex, orientation etc. Gupta added, “It is important to delve into what kind of an experience the person has come in, what is the cultural background that the person has been in and therefore that influences how we operate as an organisation.” Rajesh Mohan Rai, Chief Human ResourcesOfficer& Director, Servotech Power Systems, said that the fact that we still need to talk about DI, indicates that there is a need to treat everyone equally. Rai advocated a culture of equal treatment in the organisations rather than focussing on diversity. Rakesh Prasad, AVP – HR (IFS) and Lead – Diversity Equity & Inclusion, IndiGo (InterGlobe Aviation), talked about the psychological safety that organisations should pursue; he gave the instances of men’s awareness about women’s pain and hygiene during menstruation. Panel 4: HR Tech and Talent Viekas K Khokha, Senior Vice President and Chief Human ResourcesOfficer, Sharda Motor Industries, reflected on the dynamic nature of 2023, emphasising the rapid pace of change. He highlighted the transformation of mandates throughout the year, citing an initial focus on the tech landscape to address the needs of farmers. As the year progressed, the evolution of technology prompted a significant redesign of their plans, showcasing the necessity for agility and adaptability in the contemporary business landscape. “2023 was extremely fast moving. It is tremendously changing its fortunes every day, I’m really not talking about the turnaround and the new work force that we are hiring, but the kind of mandates which changed. Initially we started a tech landscape, our challenge was to cater the maximum number of farmers in the country and how AI can help us reaching there, second was how to maximise the yield of Panel 4: (L to R): Arjun Yadav, Sr Correspondent, BW Businessworld; Meenakshi Cornelius, Chief Human Resources Officer, JLL India; Lokesh Gupta, Vice President - Product Management, Greytip Software; and Viekas Khokha, CHRO, Sharda Motors
HR 40 Under 40 30 BW PEOPLE APRIL - MAY 2024 WWW.BWPEOPLE.COM the farmers using technology and third was the quality of talent we hire. I remember working on all three aspects in the beginning of the year and when we reviewed, the technology available during the starting of the year and the till September was so different that we had to redesign our plans,” Viekas Khokha, CHRO, Sharda Motors, highlighted. Lokesh Gupta, Vice President - Product Management, Greytip Software, brought attention to the evolving landscape of HR technology. “In 2023, we observed that several companies that have traditionally focussed on operational HR have started moving towards HRMS. They have started asking for advanced technology like AI to build performance culture, they want to introduce learning management assistance, they also want to train their workforce for the modern technologies and improve significantly on their productivity, it is not just limited to knowledge-based industries, we are getting a lot of requests from traditional industries like manufacturing, healthcare and chemicals,” Gupta stated. Meenakshi Cornelius, Chief Human Resources Officer, JLL India, underscored the pivotal role of technology in shaping the DNA of today’s business landscape. “Technology is something which has turned to be most important DNA in today’s market, most of the organisations are looking to grow their business in the next few years, India has the potential to lead the technology landscape in upcoming decades. The way we are moving into infrastructure, keeping in mind the benefits we are getting from what is happening in world, we have opportunities to scale up and grow up businesses and we can’t do that without investing in technology. Covid has taught us a lot of things can be done remotely, lot of things can be done in different fashion and technology plays the biggest role in this,” she highlighted. The speakers collectively highlighted the need for adaptability, the growing demand for advanced technologies and the transformative role of technology in shaping the future of work. Panel 5: HR’s Role in Global Talent Management Globalisation has significantly transformed the economic landscape. Liberalisation of economies has empowered organisations to expand their reach across diverse geographical locations, stretching their boundaries not just in geography, but also in aspects like time, culture and lifestyle. As companies traverse borders, HR plays a crucial role in acquiring talent from across the globe and nurturing it through effective training programmes and ensuring a conducive work environment. Industry leaders at the session discussed about various challenges in this regard. Yuvaraj Srivastava, Group Chief Human Resources Officer, MakeMyTrip said, “The success of any organisation is intricately dependent upon the teamwork. It is not merely about individual contributions but it’s a collective effort of a group that propels an organisation toward success. Regardless of the industry or sector, the synergy within a team is the driving force behind achievements.” Nida Khanam, Chief Human Resources Officer, Omega Seiki Mobility, drew from her rich experience in top-tier industries and consultancy firms to emphasise the essence of cultural and social intelligence in managing a diverse workforce globally. In her words, “Being like a compass, HRs should skilfully navigate the Panel 5: (L to R): Yuvaraj Srivastava, Group Chief Human Resources Officer, MakeMyTrip; Puja Kapoor, Global Senior Director – Human Resources, OLX Group; Rahul Vig, Human Resources Manager, Radisson Hotel Group; Nida Khanam, Chief Human Resources Officer, Omega Seiki Mobility; and Talees Rizvi, Director, BW People and BW CFO World
HR 40 Under 40 WWW.BWPEOPLE.COM BW PEOPLE APRIL - MAY 2024 31 fusion of work and culture.” Sharing a personal insight, she highlighted the impact of tone of voice, particularly in SouthEast Asian nations, where it can unsettle people. She urges HR professionals to conduct a bit of research on the cultural nuances and societal lifestyle of a country as a small effort that goes a long way in fostering a harmonious work environment. Rahul Vig, Human Resources Manager, Radisson Hotel Group, recognised the crucial role of service, especially in the post-Covid era, where workforce shortages are a challenge. Dealing with diverse cultures becomes tricky, but he emphasised that it’s vital to maintain a high level of service and high quality of customer experience. Vig emphasised the need for tailored training programmes for new hires. These programmes aim to ensure that newcomers are well-prepared and can contribute positively to the guest experience without compromising on the high standards set by the hospitality industry. Puja Kapoor, Global Senior Director – Human Resources, OLX Group, stressed the significance of organisational goals. She believed that hiring individuals aligned with the company’s objectives is crucial. Equally important is the training process. She further said understanding the cultural backgrounds of employees is vital for effective training and integration into the company culture. Talking about retaining talent, Kapoor stated, “Creating a positive work environment where individuals feel valued and supported is a holistic approach to talent management.” Panel 6: Leadership Development from HR Perspective In this panel, the conversation centred on authenticity, mental agility, collaboration inspired by superheroesand the irreplaceable quality of empathy. Sandeep Gautam, Head Human Resources, Adani Energy Solutions, emphasised the paramount importance of authenticity in leadership. “Authenticity is a crucial quality for a leader in inspiring and empowering employees. An authentic leader can inspire not only their team but the entire generation.” He highlighted the transparency required in a leader’s actions, underscoring that inconsistency between actions and roles creates a significant problem. Santwana Periwal, Chief Human Resources Officer, Clix Capital, said, “Leaders need to possess mental agility in today’s dynamic ecosystem. The ability to navigate seamlessly through internal and external changes is vital for inspiring teams.” Priyanka Gulati, Partner Human Capital Consulting, Grant Thornton Bharat, brought a unique perspective, drew inspiration from popular culture. “Leadership is evolving towards collaboration, much like the dynamic duos we see in movies like SpiderMan teaming up with Iron Man. Organisations will increasingly focus on teamwork and collaboration,” she said. Gaurav Saini, Global Chief Human Resources Officer, Wadhwani Foundation, spoke about empathy as an irreplaceable quality in leaders. “Empathy cannot be learned like other competencies. Leaders must genuinely feel for their team, bridging the gap between talking about work-life balance and actually connecting with the team,” stated Saini. Panel 5: (L to R): Gaurav Saini, Global Chief Human Resources Officer, Wadhwani Foundation; Priyanka Gulati, Partner Human Capital Consulting, Grant Thornton Bharat; Santwana Periwal, Chief Human Resources Officer, Clix Capital; Sandeep Gautam, Head Human Resources, Adani Energy Solutions; Reema Bhaduri, Editorial Lead, BW Businessworld
HR 40 Under 40 32 BW PEOPLE APRIL - MAY 2024 WWW.BWPEOPLE.COM CULTIVATING CULTURE: KEY TO TALENT DIFFERENTIATION & IMPACT › Anuj Vadehra, Head - Performance & Rewards, Lenskart (at that time), describes how HR professionals cultivate a high-performance workplace Can a career be shaped by insights offered on Quora? In the case of Anuj Vadehra, it certainly did. “In 2014, my exploration on Quora led me to a noteworthy insight from the Group CHRO of a major MNC regarding the future of HR. Although not entirely comprehensible, it ignited my curiosity, prompting a deeper exploration of the field. Recognising its potential as an avenue to leverage my strengths for learning and contribution, I embarked on a path into HR,” he describes. Talking about his journey in HR, he says, “My subsequent experiences in consulting with Aon and Deloitte have been professionally enriching. Collaborating with esteemed leaders, both internally and externally, has significantly shaped my journey.” A “pivotal milestone” arose in 2019 when Vadehra played a key role being part of the team that established Deloitte’s Rewards practice. “This initiative not only allowed for collaboration with outstanding professionals but also contributed to building a reputable presence for both me and the brand in the dynamic rewards space, providing value to our clients,” he shares. Two key focus areas HR profession’s pivotal role in shaping a company’s success is undeniable and, as Vadehra emphasises, focussing on two key areas will drive most impact in the future: l Building talent differentiation through culture: In the evolving landscape of talent acquisition and retention, creating a unique and compelling organisational culture will be the cornerstone of success. Recognising the diverse expectations of different generations, particularly the distinct needs of Gen Z, requires a tailored approach. l Tech and AI enabled automation: The future of HR lies in leveraging technology and AI for automating transactional processes, allowing HR professionals to focus on strategic initiatives paves the way for an exceptional employee experience. This shift towards technology-driven HR not only streamlines processes but also positions HR as a strategic partner. Vadehra believes that HR professionals are instrumental in shaping the future landscape of By Savi Khanna Recognising the diverse expectations of different generations requires a tailored approach work. Their pivotal contribution encompasses strategic roles as HR architects, technological innovators, leaders in diversity, equity and inclusion (DEI) and champions of the employee experience. Crucially, they play a vital role in aligning business priorities with talent requirements to cultivate a positive, inclusive and high-performance workplace. Moving beyond conventional approach Vadehra points out some significant initiatives brought about by him and the team: l Implementing agile performance management: Spearheading the transition from traditional annual performance reviews to agile performance management systems, emphasising continuous feedback and forward-focussed career development, moving beyond conventional rating scales. l Rewards setup: Established the Rewards team from the ground up, crafting foundational processes, policies and documents. The created framework serves as the cornerstone for the function’s growth, ensuring a lasting impact on organisational rewards strategies
40 Under 40 HR WWW.BWPEOPLE.COM BW PEOPLE APRIL - MAY 2024 33 IMPORTANT TO BUILD DEPTH IN A SPECIFIC DOMAIN › Aparna Madireddi, Senior Manager - Employee Experience, Providence India, shares valuable lessons from her own experience in the HR field Regardless of the choices one makes, every experience contributes to personal and professional growth her own experience, she emphasises the importance of building depth in a specific function while concurrently gaining a variety of experiences to develop a well-rounded career. Reflecting on her journey, Madireddi acknowledges the moments of uncertainty when she questioned herself whether she was on the right path or if she should follow the traditional route. However, she suggests that regardless of the choices one makes, every experience contributes to personal and professional growth. Her advice resonates with aspiring HR professionals, urging them to seize every opportunity and welcome diverse experiences. When addressing the critical issue of employee engagement and retention, Madireddi, who leads the employee experience function at her organisation, highlights the shifting expectations of employees post-Covid. Organisations are actively adapting to these changes by prioritising progressive and personalised experiences. She emphasises the significance of making employees feel valued and engaged, as this, in turn, contributes to their retention within the organisation. Providence India, under her leadership, focusses on creating experiences that go beyond industry norms. By delving into the unique preferences and value systems of individual employees, the organisation strives to tailor experiences that resonate with each individual. This approach not only enhances engagement but also fosters a sense of uniqueness and belonging, contributing to longer-term retention. In essence, Madireddi’s insights provide a glimpse into the evolving landscape of HR, emphasising the importance of embracing diverse opportunities and prioritising personalised experiences to enhance employee engagement and retention. Her journey and advice serve as an inspiration for young professionals navigating the dynamic realm of human resources. Aparna Madireddi, Employee Experience Leader, Providence India, reflects on her career journey and imparts valuable advice to budding professionals in the HR industry. She believes in encouraging young talent to embrace diverse opportunities and explore uncharted territories. Drawing from By Savi Khanna
HR 40 Under 40 34 BW PEOPLE APRIL - MAY 2024 WWW.BWPEOPLE.COM ADAPTING HR STRATEGIES TO NAVIGATE UNCERTAIN BUSINESS LANDSCAPES › Bhawna Verma, Senior Manager - HR, Larsen & Toubro, describes why individuals in an organisation must assist each other to reach their full potential and the role that HR can play here Businesses are turning more competitive by the day. Not only that, they must deal with all the volatilities and uncertainties. In such a scenario, how can the HR function enable employees to perform to the optimum, and grow in careers? Bhawna Verma offers some solutions. New leadership paradigms Realising the changing world of business and the changing needs, she says, “As organisations and societal expectations undergo continual evolution, the demands on leaders have become more intricate, calling for qualities such as authenticity, empathy and adaptability. In this dynamic landscape, I envision a new paradigm of leadership - one that seamlessly integrates ‘people’ leadership with ‘enterprise’ leadership.” She says this vision places a specific emphasis on key areas on how to: strengthen people leadership; support cultural connectedness to optimise change management and recognise & address barriers to strategic HR impact to generate business value. Delving specifically into the role of HR in this context, she says, “It is important to devise a people strategy that maps to business needs in an uncertain world. It requires HRs to identify strategic priorities, analyse emerging trends, translate priorities and trends into workforce capability needs, and prioritise those capabilities — all based on solid market intelligence and workforce analytics.” The ‘lakshya’ for future HR initiatives are not planned with short-term plans but with sight on the future. And Verma lists some of the initiatives with that long-term vision. ‘Manthan,’ is a succession planning and talent review initiative. She says, “We identified what are critical roles for present and future as per our strategic 5-year plan named Lakshya.” Diversity and inclusion is another important plank and she describes, “My business unit By Savi Khanna HR extends beyond the workplace, creating competitive organisations through career and capability building belongs to a sector which is masculine workforce dominating sector so our second initiative ‘Aikyam,’ is our DEI initiative in line with our Lakshya target of inclusive growth that focusses on increasing women participation in workforce.” Collaborative approach Verma’s passion for HR stems from a genuine interest in people and their development. As she says, “I believe individuals should not only enjoy collaboration but also aspire to assist each other in reaching their full potential. Every day offers an opportunity for me to connect with people, guiding them through the dynamic landscape of the modern workplace. HR, for me, extends beyond the workplace, creating competitive organisations through career and capability building.” All the initiatives brought about her and her team, like implementing succession planning, talent reviews, maintaining a comprehensive skill inventory and championing diversity, equity and inclusion, mirror this approach to HR.
40 Under 40 HR WWW.BWPEOPLE.COM BW PEOPLE APRIL - MAY 2024 35 STRONG CULTURAL CONNECTION IS ESSENTIAL FOR EMPLOYEES TO THRIVE › Chetna Mathur, Vice President, HRBP, NatWest Group, advocates for adaptability, a focus on skill development and the paramount importance of organisational culture I n a noteworthy reflection on professional growth and the evolving landscape of HR trends and transformations, Chetna Mathur, Vice President – Human Resources, NatWest Group, provides valuable advice and insights. Embracing opportunities as they come, she emphasises the importance of making the most of every role, showcasing adaptability and a keen interest in continuous learning. As we delve into the HR trends of the year gone by and anticipate the transformations in 2024, she believes that organisations are navigating the challenges of the hybrid work model. The shift towards a hybrid approach has posed challenges as some employees’ resist returning to the office. However, she underscores the significance of in-person collaboration, as indicated by employee engagement surveys. In 2024, organisations are expected to continue addressing this challenge while simultaneously transitioning from a jobbased to a skill-based ecosystem. The focus is shifting towards fostering a culture of continuous skill development rather than being restricted to predefined job roles. When it comes to talent retention and engagement, Mathur emphasises the pivotal role of organisational culture. While financial compensation holds importance, it is underscored that a strong cultural connection is essential for employees to thrive and stay committed. The observations highlight a broader industry trend where organisations are placing increased emphasis on building a workplace culture that fosters inclusion, connection and a sense of belonging. Mathur provides a generic perspective on career growth, HR trends and talent engagement in the contemporary professional landscape. The narrative reflects a broader industry outlook, advocating for adaptability, a focus on skill development and the paramount importance of organisational culture in fostering employee satisfaction and retention. By Savi Khanna The focus is shifting towards fostering a culture of continuous skill development rather than being restricted to predefined job roles
HR 40 Under 40 36 BW PEOPLE APRIL - MAY 2024 WWW.BWPEOPLE.COM HR: THE BACKBONE OF ORGANISATIONAL IMPACT › Esha Kapoor, Director HR, KPMG, describes what it takes for exceptional enterprises to be created and how her own career was shaped by some great mentors Every business owner aspires to see their business scale to new heights. Yet, when we consider the stark contrast between a small venture and a thriving corporation, it becomes evident that the true differentiator lies in the calibre of its people, believes Esha Kapoor. According to her, “While a dedicated, passionate leader undoubtedly influences an organisation’s success, truly exceptional and expansive enterprises are not solely the product of their vision. They are built upon the foundation laid by the founder, bolstered by an exceptional team of individuals.” Kapoor underlines that the HR division within any company serves as the architect of the organisation, standing shoulder to shoulder with the founder, CEO and senior leadership. It plays a pivotal role in cultivating the right work culture, arguably one of the greatest contributor to a company’s enduring success. HR’s responsibility extends to placing the right individuals in the right roles, a practice that not only drives performance but also ensures high employee morale, leading to longer tenures within the company. Satisfaction in Resolving Challenges “Choosing HR as my profession was a clear and resolute decision. I have long been drawn to the art of human connection, finding joy in resolving challenges and empowering others, rather than being confined to numbers and equations,” Kapoor says. Grateful for her journey in HR, she says, “Throughout my 17-year professional journey, I have had the privilege of working alongside exceptional leaders who have shaped my path. From the outset, my managers challenged me, immersing me in the intricate world of HR.” This early exposure allowed Kapoor to intimately understand the profession’s nuances, laying a solid foundation for her future. “This foundation has been the bedrock upon which I have constructed my career. I transitioned from individual contributor roles to managing an exceptional team. I also qualified as a certified ACC coach from ICF,” she tells. Reverse Mentoring Among the most significant initiatives that she and her team conceptualised are: Reverse Mentoring which was launched eight years ago before it was widely accepted. “As the name suggests, it comes with a twist where the junior colleagues are the mentors and the senior colleagues are the mentees.” Another initiative was a ‘shadow board’ to the leadership team – to bridge the gap between leaders and colleagues and at the same time providing an opportunity to the extended leadership team to be a part of the decision making. By Savi Khanna I have long been drawn to the art of human connection, finding joy in resolving challenges and empowering others, rather than being confined to numbers and equations
40 Under 40 HR WWW.BWPEOPLE.COM BW PEOPLE APRIL - MAY 2024 37 By Savi Khanna › Garima Sangwan, Senior Director – Human Resources, Accops Systems (at that time), says HR’s vision should encompass the vision of the whole organisation ational work to having a more proactive, business oriented approach. This transition needs the HR function and HR professionals to play a transformative role by focussing on business goals, embracing diversity, equity & inclusion initiatives for a dynamic & innovative workforce, help companies be more agile and take steps for employee wellbeing to foster a positive work culture. How did you get interested in the HR field and what have been some major milestones in your journey? Ever since my first job as a software engineer, I realised that human capital is the single biggest factor in success or failure of an organisation. This observation played a crucial role in me developing interest in HR and choosing this as a profession. It’s been 9 years in the field of HR so far and the journey has been nothing less that amazing. During this period there were many learnings and many milestones. However, the most satisfying has been to build HR systems and processes for a company from ground up. Satisfying because efforts put in translated into a 6 folds growth in headcount and 7 folds growth in revenue in a span of 7 years. How should HR professionals themselves envision their contribution to the world of work? In the current times, HR’s vision should be the larger vision, rather than being limited to the department. I believe that every HR professional should aim at creating sustainable change, which can foster better employee experience and contribute to organisation’s growth & development. Sustainable so that actions are relevant not just long term but across teams, organisation wide. Share some path-breaking initiatives by your team in brief. Some of the initiatives undertaken have been: Automation and digitisation: Introduction of HRIS and automating many of the operational HR tasks through these digitisation efforts. Employee wellbeing: Health is wealth, especially in the current times, hence, the wellbeing initiative focussed on not just offering healthcare but a health partner who could keep a track of physical and mental wellbeing of the employees through regular follow-ups and health checks. Interventions to identify and create a value system in the organisation: This was an interesting project undertaken to select top 5 organisational identifiers, which various activities could get aligned to like recruitment, performance management etc. Every HR professional should aim at creating sustainable change, which can foster better employee experience and contribute to organisation’s growth What is your vision for HR profession and what transformative role can it play in the success of a company? HR is witnessing a huge shift from being a cost centre and support function to a strategic business partner to companies. It is moving from traditional administrative/operFROM TRADITIONAL TO STRATEGIC: HR’S PROACTIVE TURN
HR 40 Under 40 38 BW PEOPLE APRIL - MAY 2024 WWW.BWPEOPLE.COM › Hitesh Premdas Babani, VP - Total Rewards, DBS Bank, says the challenge of addressing intricate people-related issues is what drew him to HR moderately important for the future of their organisation.” While things are changing rapidly for HR and its future, HR professionals would still need to continue to focus on core talent retention, employee experience, dynamic policies, HR automation, DEI, and sustainability while leveraging modern technologies like generative AI and the like. What inspired you to pursue a career in human resources? The complexity of solving people-related problems is what attracted me to HR. People cannot be confined to cells in an Excel sheet. Significant milestones in my career, marked by substantial influence on people, include: • Introducing’self-managed’ teams in a leading pharmaceutical company as part of an organisation design and development intervention, impacting 5,000 union and non-union employees across seven manufacturing locations. • Overseeing the entire integration of people practices for a product company merging into a technology services major in India. • Developing and launching a unique, customisable wellness insurance solution In what ways can HR professionals envision making a difference in the world of work? Working in HR helps achieve a diverse set of career needs, from helping others to building a better workplace, contributing to organisational success by using problem-solving skills, performing a diverse set of activities—there is something for everyone. Make a pick. The HR field offers limitless possibilities and opportunities to transform lives and workplaces. Most often not quantifiable. Kindly share some path-breaking initiatives by your team. A defining feature of DBS’s culture is a strong sense of purpose, stemming from our origins as a development bank. This purpose manifests as a commitment to making a meaningful impact and positively affecting the lives of real people. Our employees share this dedication. Some of our endeavours include: 1. N=1 personalisation of our benefits offerings 2. Simplification of how we design our compensation plan 3. Institutionalising data-driven operating models across all functions of HR 4. Usage of retention models to identify potential attrition 5. Experimenting with Gen AI for people related use cases By Savi Khanna People cannot be confined to cells in an Excel sheet HANDLING HUMAN EQUATIONS How do you see the evolution of the human resources and what significant contribution can it make to a company’s success? To succeed and stand tall in our endeavours, my vision for HR is to build a culture of intention, empathy, organisational flexibility, inclusivity, and equitability. We are at forefront of this transformation while our core – talent – continues to be a key focus area. As per McKinsey’s research, “talent is the greatest driver of competitive advantage — 77 percent of business leaders believe that retaining talent is very or
40 Under 40 HR WWW.BWPEOPLE.COM BW PEOPLE APRIL - MAY 2024 39 EMBRACING SPEED AND AGILITY MUST FOR HR › Inder Kumar, Senior Associate Director, KPMG Global Services, says HR should regard their role as a crucial contributor to business performance What are your thoughts on the future of the Human Resources (HR) profession and how do you see it significantly contributing to a company’s success? In the ever-changing landscape of business, speed and agility are the two key aspects that every HR leader needs to embrace and imbibe. My vision for the HR profession is to be able to move from being reactive to being proactive. I strongly believe that with a strong business acumen, HR leaders should be able to better sense the macro environment and anticipate business needs. How did you get interested in the HR field? Could you share some significant milestones that have marked your professional journey in this field? During my college days, I was a part of Rotary International’s youth wing and had several opportunities to interact with HR professionals who are now stalwarts in the industry. The inspiration to build a career in this field was a result of the executive presence showcased by some of these leaders. During my time as a student at Manchester Business School in the UK, I was inspired by several of my professors, who were accomplished researchers in Organisation Development and Human Resource Management. In my career, I have been a consultant to many of the Fortune 500 companies and have travelled to several countries, including Brazil, China, the UK, the USA, Malaysia, and Sri Lanka, to deliver leadership development workshops. I was recognised by the National HRD Network as one of the young HR icons in 2016 and was also a finalist at the HR Excellence Awards hosted by CIPD London in 2015. I was certified by Gallup as an ‘executive coach’ in 2017, and ever since I have had the privilege of helping leaders unleash their potential through my coaching conversations. How should HR professionals envision their role in the world of work? Organisational personnel, or human resources, are consistently a company’s most valuable asset, regardless of the nature of the products or services provided. Individuals within a company have the potential to either enhance or harm a business enterprise. HR leaders possess the unique capability to directly influence a business’s core operations by developing and implementing people-focused policies and initiatives. These initiatives can have a significant impact on a company’s financial metrics and social impact within the country. HR should therefore regard their role as a crucial contributor to business performance. By Savi Khanna My vision for the HR profession is to be able to move from being reactive to being proactive
HR 40 Under 40 40 BW PEOPLE APRIL - MAY 2024 WWW.BWPEOPLE.COM TALENT SCARCITY IS REAL › Jinal Shah, Corporate Lead – Remuneration & Benefits, Apraava Energy, says the issue of talent scarcity is genuine and developing the appropriate value proposition for employees can serve as a game-changer What is your vision for the HR profession, and what transformative role can it play in the success of a company? I envision HR as a growth and transformation partner in the coming years. As a G&T partner, I believe the function will continue to be at the forefront of workforce planning and staffing, building an internal talent pool, and developing the leadership pipeline. Talent scarcity is real, and having the right value proposition for employees (and, if done right), is going to be a game-changer. Another important aspect for HR to play in the role of a G&T agent is the adoption of technology. Supported by the developments in generative AI and the wealth of information the function possesses, it can support businesses by enabling them to make data-backed decisions. To reap the demographic dividend, investments in building a diverse workforce will give businesses a strong foundation for the years ahead. How did you get interested in the HR field, and what have been some major milestones in your journey? When you’re young and impressionable, you often whittle down your options by dismissing those that don’t pique your interest, eventually settling on the one that meets most of your criteria. Something like that happened to me when I was making a decision. In hindsight, I am glad I could nudge myself to choose HR as my area of specialisation. I feel I was fortunate to get to work with some great leaders and mentors. At TCS, where I joined as a trainee and continued for over 12 years, I got to work in multiple roles with diverse, global teams. It also gave me the confidence to work with multiple stakeholders. In my current organisation, Apraava Energy, we are striving to create a happy planet by empowering lives sustainably. In what ways can HR professionals envision making a difference in the world of work? I think the answer here is in two words: ‘Value Creation’. Our contribution is simply defined by the value we create for business. Kindly share some path-breaking initiatives by your team. I believe that by building the right path, we can create more value. Augmenting an existing initiative, repurposing it for the purpose at hand, and communicating well also work equally effectively. At Apraava Energy, we are working on multiple initiatives aimed at improving our employee experience, providing ample learning and growth opportunities, focusing on employee wellness, and strengthening our digital capabilities, among others. By Savi Khanna Augmenting an existing initiative, repurposing it for the purpose at hand, and communicating well also work equally effectively
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HR 40 Under 40 42 BW PEOPLE APRIL - MAY 2024 WWW.BWPEOPLE.COM WE NEED TO BUILD GREAT WORKPLACES › Jyoti Prakash Mallick, Head – Rewards, Talent and Learning, Godrej Properties, talks about HR as a profession and how it can help an organisation grow What is your vision for the HR profession, and what transformative role can it play in the success of a company? We need to build great workplaces. I will define greatness as two things: i. The health (business, people, and values) of the organisation should be sustainably topnotch. ii. People should do the best work of their lives in the organisation. The role that HR teams need to play is to marry the foundational science of human behaviour with organisational context and data and build people solutions and products. How did you get interested in the HR field, and what have been some major milestones in your journey? My exposure to colleagues’ and their behaviours when presented with supervision, policies, practices, work, etc. at my first workplace, as well as my deep interest in people through my childhood (books, cinema, etc.), was one of the reasons I was interested in the function. I felt people’s problems would challenge me cognitively and at a purposeful level through my career sufficiently to be interested in doing work that matters in the world. How should HR professionals themselves envision their contribution to the world of work? Build organisational health across the dimensions I have already mentioned. We need to stop relying on just our intelligence and intuition and start building deep functional expertise to build solutions that work. Additionally, as practitioners, we often fall into the trap of being desensitised to people issues after a point in time; this is tragic for a HR professional. Being on the ground is an absolute must By Savi Khanna I felt people’s problems would challenge me cognitively and at a purposeful level through my career sufficiently to be interested in doing work that matters in the world to build solutions for people that actually work. Kindly share some path-breaking initiatives by your team in brief. Building GPL Alchemy, the in-house leadership academy, has been a terrific success for all of us. We are also building Harmony, the umbrella of all work-life-enabling wellbeing initiatives. The team has been successful in building our leadership talent at all levels (early, middle, and senior leadership) from within. We recently initiated a talent war room to give this a boost.
40 Under 40 HR WWW.BWPEOPLE.COM BW PEOPLE APRIL - MAY 2024 43 › Kshatriya Sundeep Singh, Head - HR, Hester Biosciences, says HR professionals should see themselves as architects of workplace ecosystems advanced technologies, data analytics, and human-centric approaches to foster a dynamic and inclusive work environment. HR’s transformative role is to humanise the workplace, strategically utilising technology and data to drive organisational success. By embracing innovation, promoting inclusivity, and prioritising employee wellbeing, HR can become a critical factor in a company’s long-term growth and prosperity. How did you get interested in the HR field, and what have been some major milestones in your journey? It all began during my undergraduate studies, where I became fascinated with the intersection of individual behaviour and organisational dynamics. Recognising the profound impact that a well-crafted work environment can have on employee engagement and performance, I decided to delve into the world of human resources. One of the pivotal moments in my journey was an internship that exposed me to the practical challenges of HR. This experience ignited my interest in leveraging innovative HR strategies to nurture talent and build resilient, high-performing teams. I realised that HR, far from being a bureaucratic function, could be a catalyst for positive organisational change. One significant milestone in my career was leading a cultural transformation initiative within a company undergoing a major restructuring. I spearheaded efforts to shift the organisational mindset, placing emphasis on collaboration, adaptability, and a shared sense of purpose. Witnessing the positive impact on employee morale and business outcomes reinforced my belief in the transformative potential of HR. How should HR professionals themselves envision their contribution to the world of work? HR professionals should see themselves as architects of workplace ecosystems who shape environments that prioritise employee wellbeing, foster innovation through diversity, and leverage technology for strategic growth. Kindly share some path-breaking initiatives by your team in brief. Our team has spearheaded the ‘Innovation Inclusivity Programme’ a path-breaking initiative fostering a culture where every employee’s ideas are valued. Through interactive workshops, digital ideation platforms, and mentorship programmes, we’ve democratised innovation. This initiative stands as a testament to our commitment to cultivating a workplace where diverse perspectives drive groundbreaking ideas. By Savi Khanna The transformative role of HR lies in its ability to seamlessly integrate advanced technologies, data analytics and human-centric approaches HR’S ROLE IS TO HUMANISE WORKPLACE What is your vision for the HR profession, and what transformative role can it play in the success of a company? In envisioning the future of the HR profession, I see it transcending its traditional role as a support function and becoming a strategic partner in shaping the success of a company. The transformative role of HR lies in its ability to seamlessly integrate
HR 40 Under 40 44 BW PEOPLE APRIL - MAY 2024 WWW.BWPEOPLE.COM I STRONGLY BELIEVE IN EXUDING PASSION IN EVERY PROJECT › Meghana Rao, Senior Regional Delivery Manager, AtkinsRéalis, talks about the formative influences in her career and how she has leveraged her skill-set Can you share a brief overview of your career journey in the field of HR? It all started when I joined the AtkinsRéalis family as a management trainee nearly 12 years ago and found my way building success through multiple roles in HR operations, HR Partnering, HR Systems, HR Transformation, Organisational Change and Shared Services. I am among the fortunate few whose careers grew exponentially alongside the growth of the company. A myriad of opportunities came my way and I had the privilege of working with some of the best minds in HR and in the engineering community. Achievements came in many forms—project opportunities and leadership positions at an early career stage! What innovative HR practices or strategies have you implemented in your organisation? With a deep-rooted foundation in HR operations, I leveraged my skillset to lead large scale flagship HR projects, including the implementation of ‘Workday & Service Now in Asia and India, managing graduate development, HR transformation for the Middle East, and some high-impact employee engagement events for India. I strongly believe in exuding passion in every project and having a global mindset while ensuring I build credibility and influence organisational change positively. Did you face any challenges in the formative years of your career, and how did you overcome them? I have always managed multiple careers: as a human resources professional, which is aligned with my academic and professional interests, and in Indian classical dance, which is a hobby that grew into a strong passion and feeds my creative elements and expression. Balancing both of them in my formative years greatly sharpened my multi-tasking abilities and helped me appreciate cultural differences globally. Challenges were plentiful as I chose to play a variety of roles. My recipe for success is simple – find your own rhythm and create magic in everything you do. Looking ahead, how do you see the future of HR evolving? What role do you envision young professionals playing in shaping the industry? Over the years, HR has evolved largely from being a support function to co-creating business strategies. In a landscape that is defined by dynamic shifts in technology and generational changes in aspirations, HR will play a pivotal role in ensuring organisational success. The focus, in my view, will completely shift towards innovative work arrangements, AI integration, providing best-in-class employee experiences, and Predictive HR Analytics. By Krishnendra Joshi Over the years, HR has evolved largely from being a support function to co-creating business strategies
40 Under 40 HR WWW.BWPEOPLE.COM BW PEOPLE APRIL - MAY 2024 45 ALWAYS ASK: WHY › Says Mohit Budhraja, HRBP - Services and Solutions Group, Lenovo India, as he talks about the challenging roles that HR is set to play I started my journey as a supply chain professional before pursuing my MBA in HR. I have varied and global experience in the HR space, primarily in the domain of compensation and benefits and HR business partnering. As a part of these roles, I have gained exposure to working closely with Sales, Services, Supply Chain, and Tech functions across all geographies, including Asia Pacific, Europe, the Middle East, and the Americas. As a part of my stint in the current organisation, I have been recognised on multiple platforms, with the highest recognition coming as a part of our 2023 Annual Corporate Award from our Global MD. Innovations in HR practices I got an opportunity to be an instrumental member in setting up the sales compensation centre of excellence from scratch for my current organisation. This role enabled me to implement multiple incentive designs for the salesforce. Challenges and learnings The biggest challenge one faces in the initial years is identifying the career path one needs to tread. The decision to pursue HR from my initial avatar as a supply chain professional was a tough one, comprising research, deductive logic, and finally a lot of introspection. As an HR professional, it has been an immense learning experience to operate and navigate in complex organisational environments at both Infosys and Lenovo. The key to learning is to identify your stakeholders and customers and always be proactive in serving them. Lastly, one approach that I have benefited from and will recommend to budding HR professionals is to always ask “Why?”. Future of HR HR deliverables today are more and more linked to data-based decision-making, and with complex and modern tools and technology around analytics and AI, this will be the norm. HR professionals have to leverage these tools and rely on data-based insights. On the softer aspects, I see HR partners playing a bigger role as coaches for their business counterparts. Lastly, one of the biggest challenges and areas of work for HR will be to continue to raise awareness and play the devil’s advocate in the space of diversity and inclusion. By Krishnendra Joshi One of the biggest challenges for HR will be to continue to raise awareness and play devil’s advocate in the space of diversity and inclusion
HR 40 Under 40 46 BW PEOPLE APRIL - MAY 2024 WWW.BWPEOPLE.COM TRUSTING MY LEADERS HELPED ME OVERCOME CHALLENGES › Navin B, Lead People & Culture Business Partner, Vestas Wind Technology India shares his views on policies, innovation and practices at work Can you share a brief overview of your career journey in the field of HR? My journey has been challenging and promising across industries, including manufacturing, engineering, consumer goods, railroad and renewable sectors. Working with leading companies, I was able to contribute to footprint expansion in the eastern part of India for Titan, establishing the Global Finance Shared Service for Alstom. My experience at Vestas has given By Krishnendra Joshi To make Vestas a better place to work, the leader-leader model was implemented at the manufacturing site’ me the opportunity to unleash my leadership capabilities. What innovative HR practices or strategies have you implemented in your organisation or career that you believe have contributed to your success? Innovation at the workplace has been an important agenda item in the changing business environment. Titan Shield was one of the initiatives introduced by Titan to attract talents in the field of optometry. The initiative gave it leverage to attract talents across the eastern part of India, eventually making it a strong talent pipeline. To make Vestas a better place to work, the leader-leader model was implemented at the manufacturing site. It has brought significant improvements in productivity, safety, and engagement across teams. Key contributions in the framing of policies and practices have helped Vestas become ‘great place to work’. Did you face any challenges in the formative years of your career? How did you overcome them? Challenges form an integral part of the learning experience. I have looked at every failed step as an opportunity to learn. Trusting my leaders and having transparent conversations have helped me overcome challenges. Being transparent, reflecting on lessons learned, considering multiple perspectives, understanding international cultures, and delivering what is agreed upon or committed are the most important tools to build self-credibility within teams and in the organisation. What role do you envision young professionals playing in shaping the industry? The scope of HR will continue to evolve and be dependent on how HR brings value to the organisation. The renewable industry is in an important stage, and forecasts show that it will grow by multiple folds across India and the globe. It will be important for HR professionals to understand the complexity of business, coaching leaders, and creating a memorable people experience. Young HR professionals would be expected to bring best practices from industries across to renewables and bridge the skill gap required in the industry. This also brings the challenge of how they can influence the curriculum in universities to build talents for the future.
40 Under 40 HR WWW.BWPEOPLE.COM BW PEOPLE APRIL - MAY 2024 47 ROLE OF HR IS SET TO EVOLVE SIGNIFICANTLY › Navreet Anand, VP, People & Transformation, Natwest Group, talks about her career journey, innovative HR practices and valuable lessons learned in the HR community Can you share a brief overview of your career journey? Over the last 13 years, I have worked across various industries, including banking, media, and real estate. While there have been numerous career milestones, a few close to my heart include being the head of the Employee Network for Disability Smart at Natwest, in addition to my current role, where I head the specialist support teams on HR Policy Advisory. My previous stints include leading HRBP support across education businesses and print revenue businesses within the media sector. I have been fortunate to be a part of multiple women leadership development programmes. Additionally, I am SHRM-SCP certified, which has helped me stay abreast of the latest HR practices. What innovative HR practices or strategies have you implemented in your organisation? One of the most innovative HR practices I have implemented is at Natwest Group India. I led the launch of the ‘Health & Advisory’ Support for People with Disabilities and Neurodiverse colleagues. This initiative included providing assistive technology support for colleagues with physical disabilities, supporting the diagnosis of neurodiverse conditions, providing workplace adjustments, and coaching managers and colleagues with neurodivergence. What valuable lessons have you learned along the way that you think could benefit others in the HR community? Oh yes! I suppose all of us face our fair share of challenges and curve balls, don’t we? Throughout my career, I have faced several challenges, especially as a working mother. However, I have learned to build resilience, maintain perspective, and communicate effectively to overcome any obstacles. These skills have helped me stay focused on the larger picture and find creative solutions to problems. Looking ahead, how do you see the future of human resources evolving, and what role do you envision young professionals playing in shaping the industry? As we look to the future, the role of HR is set to evolve significantly due to unprecedented tech disruptions. HR professionals must ensure that technological advancements prioritise colleague experience, address diversity, equity, and social justice issues, and make intelligent commercial decisions while mitigating cyber threats and data breaches. The role of young HR professionals is critical to shaping the industry’s future. They must stay abreast of the latest HR practices, be attuned to diversity, equality, and social justice issues, and make informed decisions while mitigating any risks. By Krishnendra Joshi I have faced several challenges, especially as a working mother. However, I have learned to build resilience, maintain perspective, and communicate effectively to overcome any obstacles
HR 40 Under 40 48 BW PEOPLE APRIL - MAY 2024 WWW.BWPEOPLE.COM TECH, TALENT, TRANSFORMATION TO DEFINE FUTURE OF HR › Neha Shrivastava, Chief Manager (Human Resources), GAIL (India), describes the innovative initiatives her HR team has implemented, resulting in significant positive impacts on the organisation My professional journey, which began with GAIL in 2009, has been both challenging and deeply rewarding. The decision to join a CPSE as part of campus placement at XLRI proved to be the right decision in the long run, as it gave me diversity of experience along with the complete freedom to do new things in an environment that had exponential opportunities as the energy industry as well as the organisation were in a growing stage. During my tryst with HR for more than 14 years, I worked across a wide spectrum of HR, including Talent Management, Leadership Development, Performance Appraisal, Employee Engagement, Employee Services, etc. At present, I am handling the HR Business Partner role in GAIL’s Southern Region Headquarter and am based out of Bengaluru, handling the entire gamut of HR functions for the workforce spread over four states. I have realised that there is tremendous growth and learning that comes with the business partner role, which requires you to look at people issues at the ground level and from the lens of both business and HR perspectives. Innovations in HR practices Adopting innovative HR practices is crucial to ensuring alignment with the evolving business landscape and changing needs of the workforce. As part of this endeavour, I led the conceptualisation and implementation of many strategic HR initiatives in the organisation. Some of these initiatives include introducing an integrated leadership development programme for middle and senior management executives, a 360-degree feedback framework, inculcating a performance-driven culture through KRA/KPI and a competency based PMS framework, employee engagement initiatives, employee wellbeing initiatives, etc. As a unique initiative, a special cross-functional group was constituted by the top management, which was entrusted with the task of conceptualising and driving employee engagement and development initiatives for employees across the company. As part of this group, I led the ideation and formulation of many initiatives in the broad areas of talent engagement and employee development across the organisation. Future of HR Some of the key aspects that will shape the future of HR will be continued integration of technology, continuous learning and upskilling of the workforce, employee wellbeing and mental health, data analytics driven decision-making, refining policies on hybrid and remote work arrangements, embracing Diversity, Equity, and Inclusion (DEI) initiatives, and navigating the global workforce dynamics. Young professionals, with their digital fluency and progressive perspectives, including commitment to diversity and social responsibility, are likely to play a pivotal role in driving these changes. By Krishnendra Joshi Some of the key aspects that will shape the future of HR will be continued integration of technology, continuous learning and upskilling of the workforce....
40 Under 40 HR WWW.BWPEOPLE.COM BW PEOPLE APRIL - MAY 2024 49 KEEPING PEOPLE ENGAGED IS IMPORTANT FOR BUSINESS › Nirali Trivedi, Group HR Head, Elecon Group of Companies, describes the learnings she has had so far during her fruitful HR career tion for the Elecon Group of Companies. During the span of my career, some notable achievements are Organisational Restructuring, Facilitating Performance Driven Culture where a New Performance Management System was introduced. I won various National and Regional accolades in the domain of HR, successfully achieved ‘Great Place to Work’ certification for two consecutive years, improvement in Return on Capital Employed. Innovations in HR Practices Some of the innovations are implementation of 4G Model – Gyanmay, Gyanoday, Gurukul and Gurupath interventions designed and implemented for creating leadership pipeline, successor development, enhancing skills and competencies, all of these aimed to align individuals towards attaining the organizational goal. Among the other HR interventions are HR Aapke Nikaat, HR Jatan, Parivaar Ke Saath, Karigari Kushalta, various welfare programmes for employees and contractual associates. Challenges and Learnings In the current VUCA world, we have to be always ready to face various external and internal challenges like:- l Employee Value Proposition that encompasses career growth, skill development, inclusion, belongingness, trust and purpose. l Attracting Top Talent that is a perennial challenge for HR professionals and it will become even more challenging as the competition for talent heats up. l Managing Uncertainty when the world and market trends are changing rapidly. With my journey of more than a decade, I learnt that keeping people engaged and aligned to the business is one of the most important aspect for the business growth and success. The future to be moulded by Youth Some of the anticipated trends that will shape the future of HR are hybrid work model, focus on employee wellbeing, adoption of AI and HR automation, upskilling and reskilling, and diversity, equity and inclusion. Young professionals can play a significant role in shaping the future of HR as they bring fresh perspectives and a willingness to embrace the change. They can help drive innovation and digital transformation in the HR sector. They can also help promote diversity, equity and inclusion in the workplace. - As told to Krishnendra Joshi By Team BW People Young professionals can play a significant role in shaping the future of HR as they bring fresh perspectives I am a People Person. My career journey is a story of empowerment, growth and impact. I started my career as a management trainee with Elecon Group in the year 2007 as a part of campus placement. Initially, I was responsible for handling Payroll Operations, L&D activities, Talent Acquisition and Employee Lifecycle activities. With the guidance of my seniors and with my resilient efforts I rose up the ladder and am currently heading HR Func-
HR 40 Under 40 50 BW PEOPLE APRIL - MAY 2024 WWW.BWPEOPLE.COM DIRE NEED TO EDUCATE OUR EMPLOYEES ON FINANCIAL WELLBEING › Pearl Garg, Senior HRBP, Amazon India, describes how she grew in HR and how the domain is shaping up I started my career as an engineer and when challenged with a people manager role, realised the importance of focusing on people motivation and concerns. This paved my way towards the field of HR and I started my journey with L&T in this stream. L&T gave me multiple challenges to work on – biggest being managing Merger and Acquisition project as HR SPOC. This project allowed me to expand my horizon and think holistically at an organizational level. Later, I joined Amazon and was challenged to work on-theground with customer service employees to understand their pain points. Being this close to the ground realities in Amazon made me aware of how smaller things impact organisational goals in long term. I also had opportunities to lead employee well-being and compensation pillars in 2022 and 2023 with Amazon for Customer service India teams having a span of ~20K-30K employees. Innovations in HR Practices During 2020-21, when the entire world was struggling through Covid situation, we at Amazon created and led internal Amazon teams to support not only Amazon employees but also their immediate and extended families who needed support. I was a part of this large-scale project where I was required to be available for all Amazon India employees across teams needing support. We created dedicated helpdesks from Amazon to provide information and support in terms of hospital beds, ventilators, oxygen concentrators, ambulance services, vaccinations, isolation rooms, and many more. We didn’t stop at what was available through government and Amazon but pooled the surplus resources available with our employees. After those peak 6-8 months, we realised a dire need to educate our employees on financial wellbeing. This led to creation of a financial well-being arm to our overall wellness programme at Amazon. By Team BW People With increasing investment in artificial intelligence and large language models across the globe, we are all set for technological disruptions in the time to come Future of HR With increasing investment in artificial intelligence and large language models across the globe, we are all set for technological disruptions in the time to come. Human workforce will evolve as well with this change as they will become smarter to manage this change. This means that their expectations from their jobs, bosses, peers, technology, work culture will continue to grow. HR, as a function, needs to proactively develop itself to identify and cater to those needs in order to provide the best employee experience in terms of hiring, learning, development, engagement and retention. - As told to Krishnendra Joshi