Thriving in the New Normal: Human Capital Trends for 2023
Introduction
As India recovers
from the unprecedented challenges posed by the COVID-19 pandemic, organizations
across the country are reimagining their approaches to talent management and
embracing the evolving needs of their workforce. In this blog post, we
will explore post-pandemic human needs and employee requirements, drawing
inspiration from Indian companies that are leading the way.
The Role of Technology
In today's rapidly evolving world, the relationship between technology and the workforce is undergoing
a remarkable shift. Technology is no longer limited to replacing or enhancing human labor; it is now empowering individuals and teams to unlock their true potential. This transformative power is made possible through generative AI, a force that is revolutionizing the way we work. Generative AI is revolutionizing the way we work, ushering in a new era of productivity and innovation. From AI-powered virtual coaches to fostering collaboration in diverse teams, and enhancing efficiency in manufacturing to expanding workplace accessibility, generative AI is transforming the workforce. As we continue to explore the possibilities of technology-human collaboration, the future of work holds immense promise. Let us embrace the power of generative AI and unlock the full potential of our workforce
Humu: Your AI-Powered
Virtual Coach Imagine having a personal coach who understands your needs,
guides your growth, and enhances your performance. That's precisely what Humu,
an AI-powered virtual coach, offers. By analyzing employee data and feedback, Humu
identifies opportunities for improvement, helping workers achieve higher levels
of happiness, performance, and retention. Through tailored nudges delivered via
email, Slack, or Microsoft Teams, Humu encourages behavioral adjustments that
align with individual goals. The result is a positive cycle of continuous
growth and development.
Ultranauts: Fostering Collaboration in Diverse Teams Diversity of
thought is a powerful catalyst for innovation. Ultranauts, a forward-thinking
tech company, recognizes the value of diverse thinking styles in the workplace.
To eliminate barriers and promote collaboration, Ultranauts leverages Teams and
Slack bots. Employees create their own "biodex," providing insights
into their unique work preferences and communication styles. This approach
fosters seamless teamwork, enabling individuals with diverse perspectives to
leverage their strengths and achieve collective success.
Drishti: Enhancing Efficiency on the Manufacturing Front In the
manufacturing industry, efficiency is the key to success. DENSO, a leading
Japanese auto component manufacturer, turned to Drishti's AI-enabled action
recognition technology. By leveraging AI and computer vision, Drishti provides
real-time analytics on manual tasks performed by production employees.
Production managers gain valuable insights, allowing them to identify and
eliminate bottlenecks, optimize processes, and prioritize tasks. Drishti's
system nudges line associates to rectify errors promptly, fostering a culture
of continuous improvement and boosting overall efficiency.
The Dawn Avatar Robot Café: Expanding Workplace Accessibility
Inclusivity and accessibility are essential in the modern workforce. The Dawn
Avatar Robot Café in Tokyo has found an innovative solution. Remote-controlled
robot avatars operated by individuals unable to leave their homes due to
disabilities or other reasons serve as servers at the café. This groundbreaking
approach expands the pool of potential workers and enables remote operators to
interact with customers and colleagues, fostering meaningful connections
despite physical limitations.
Prioritizing Holistic Wellness: Mental, Physical, Financial, and Spiritual
The pandemic's
impact on mental health has heightened the need for organizations to prioritize
the well-being of their employees holistically. Indian companies are rising to
the challenge and implementing comprehensive wellness programs that encompass
various dimensions of well-being.
Infosys, a leading
IT services company, has taken significant steps to support the mental
well-being of its employees. They offer counseling services, mindfulness
training, and virtual wellness sessions, promoting open conversations about
mental health and fostering a culture of empathy and support. We have also witnessed a significant shift in employees using counselling sessions which is a confidential services provided by companies. The empirical data states that pre covid 1-4% employees in companies use this service but now this number has gone up. This is a good sign for companies as this leads to building a happier workplace.
When it comes to
physical wellness. A lot of companies have implemented wellness programs that include fitness challenges, virtual workout
sessions, and access to healthcare professionals for personalized
consultations. By focusing on physical well-being, organizations like Apollo Hospitals , Mahindra, Tata ensure that their employees stay healthy and maintain a good work-life balance.
Financial wellness
is another crucial aspect addressed by organizations like Accenture. They offer
financial planning workshops, guidance on investments, and employee assistance
programs to help employees manage their finances effectively. By providing
resources and support for financial well-being, organizations empower their
employees to feel secure and in control of their financial futures.
In the realm of
spiritual wellness, the Art of Living Foundation stands out. They offer
workshops and programs centered around mindfulness, meditation, and
self-discovery. By incorporating spiritual well-being initiatives,
organizations contribute to the overall holistic wellness of their employees,
fostering a sense of inner peace and fulfillment.
Fostering
Reskilling and Upskilling Opportunities
The COVID-19
pandemic emphasized the importance of continuous learning and skill
development. In India, Tech Mahindra has taken the lead in this area by
introducing 'Upskill 4.0', a dedicated learning platform offering employees
access to a wide range of online courses and certifications. This initiative
empowers employees to acquire new skills and thrive in the fast-paced digital
era.
Organizations are embracing emerging learning trends like microlearning and gamification. Microlearning breaks down complex topics into bite-sized modules, allowing employees to learn
at their own pace. Gamification adds fun and engagement to the learning process. Infosys has also partnered with universities and institutions to offer specialized certificate programs, enhancing employees' expertise and employability.
Fostering reskilling and upskilling opportunities is crucial in navigating the changing business landscape. Through platforms like 'Upskill 4.0' and 'Tata SkillPedia', companies empower employees
to acquire new skills, adapt to industry changes, and enhance their professional growth. By embracing learning trends, organizations make learning engaging and personalized, contributing to a workforce that is well-equipped for the evolving demands of the future.
Focus on Internal Recruitment - Farming Talent vs Buying Talent
Organizations are placing a renewed focus on internal recruitment, emphasizing the development of internal talent, facilitating career progression, and breaking the age-old tenure-based promotions.
They enable lateral movements based on performance and potential, not restricted to within function but across a wider pool of available jobs. This approach ensures that employees have opportunities to grow and excel based on their abilities, fostering a culture of meritocracy and unlocking the full potential of the workforce.
Championing Purpose-driven Organizations and Embracing DEIB
Wipro, a leading IT
services company, has implemented robust DEIB initiatives. They have
established dedicated diversity councils, introduced bias training, and
implemented inclusive policies and practices. Wipro recognizes that fostering a
diverse and inclusive environment goes hand in hand with purpose-driven
strategies. By embracing diverse perspectives and promoting a culture of
belonging, Wipro not only attracts top talent but also drives innovation and
enhances collaboration.
Additionally,
Indian organizations are reimagining their talent management strategies to
prioritize internal recruitment, development, and career progression. They are
moving away from traditional tenure-based promotions and embracing a
performance and potential-based approach that encourages lateral movements
across functions. This shift allows employees to explore new roles and expand
their skill sets, ultimately contributing to their growth and fulfillment.
An exemplary
organization in this regard is Hindustan Unilever Limited (HUL). HUL has
established a robust internal talent development program called "Unilever
Leaders Internship Program" (ULIP). Through ULIP, high-potential employees
are provided with diverse assignments across different functions and
geographies. This program allows employees to gain cross-functional experience,
break silos, and unleash their full potential.
Moreover,
organizations like HCL Technologies are adopting a "Career Connect" approach,
where they create a platform for employees to explore career opportunities
beyond their current functions. By offering a wider pool of available jobs and
encouraging internal talent to pursue lateral movements, organizations unlock
the full potential of their workforce, enabling employees to pursue their
passion, expand their horizons, and contribute to organizational success.
Embracing Remote Work and Hybrid Work Models
India witnessed a dramatic shift towards remote work during the pandemic, and many organizations have recognized the benefits it brings. There are many such examples like - Tata Consultancy Services (TCS), GCCs etc which successfully implemented a hybrid work model. They provides flexible work arrangements, allowing employees to choose between working remotely or from designated office spaces. By leveraging collaborative tools and advanced technology, they ensure seamless communication and teamwork, enabling their employees to thrive in both remote and in-person work environments.
Conclusion
As world embraces
the post-pandemic era, organizations must cater to the evolving needs of their
employees. By embracing remote work and hybrid models like TCS, prioritizing
holistic wellness including mental, physical, financial, and spiritual aspects,
fostering reskilling and upskilling opportunities like Tech Mahindra,
championing purpose-driven initiatives and DEIB strategies like Wipro, promoting internal recruitment and career progression like HUL and HCL
Technologies and embracing artificial intelligence, Indian companies create environments where employees feel valued,
empowered, and motivated to contribute their best. As India moves forward,
organizations that prioritize purpose, diversity, inclusivity, and internal
mobility will not only attract top talent but also create a dynamic and engaged
workforce, driving innovation, collaboration, and sustainable success.
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