Business Transformation Through HR Innovation

It was a wonderful opportunity to engage with CXOs, HR Heads, Finance Heads from across various verticals during the SCS events in association with PeopleWorks on “Business Transformation through HR Innovation”, in Delhi on 13^th March 2015. It was our endeavour to understand the vast number of challenges Indian SMEs are facing in the dynamics of changing market behaviour.

We had a sound amalgamation of C-Suite and HR management from various sectors of Manufacturing, Technology/IT, Telecom, Consulting and more at the event. The discussion was engrossing from the time it began, and the following observations were made within the purview of business transformation:

· The participants expressed their understanding of business transformation and its relevance to their respective business

· Technology, functions and roles of employees are in the fast lane in today’s world. Hence it’s vital to bring in change to cope with market pressure and product landscape

· Pain areas were identified mainly in the areas of attrition and retention. Attracting the right talent is a big stress point

· Suitable hires often prove to have dissimilar goals than that of the organization

· Some guests shared innovative solutions they had evolved at their end, to bridge the gap between education and hiring, so attrition could be reduced. From “Retaining to Retraining” of talent, to measuring of “Learnability-Trainability” quotient of new hires, some sharp ideas came forth

· Employee engagement and succession planning is the need of the hour for higher retention

· Growth drivers were identified to be automation and a people-centric approach with workforce

· SCS universal pointed out that Millennials and Gen Y are much more in synch with the advent of mobility and apps. SMEs must be geared to accommodate aspirations of a workforce that is highly interactive on web and socialchannels to stay ahead of the curve channels to stay ahead of the curve.

There is a compelling need for streamlining processes. It is vital to fulfill the expectations of your workforce, as well as providing the creative freedom for HR and employees to become idea oriented, rather than task oriented. There is also a pressing requirement, of aligning your business goals with your employees’ individual career goals, so retention becomes stress free and business and workforce enjoy the benefits of an exemplary growth.