HR at crossroads: Why human capital must lead the next era of business transformation
“We don’t call it human resources—we call it human capital. Because resources get used up. But capital? Capital grows with the right investment.” – Dr. Nirav Mandir, Chief Human Capital & Sustainability Officer, Shree Ramkrishna Exports
At the People Matters SurgeHR 2025 event in Ahmedabad, transformation wasn’t just a theme, it was a necessity. As leaders gathered to explore the intersection of people, purpose, and performance, the keynote session stood out not only for its vision but for its honesty and practicality. Dr. Nirav Mandir, the Chief Human Capital & Sustainability Officer at Shree Ramkrishna Exports (SRK), delivered a bold and refreshing call to action: it’s time to stop chasing growth for namesakebut instead build organisations that scale with soul.
His session, titled ‘Beyond Growth: The Human Capital Playbook for Scalable & Sustainable Excellence,’ offered more than insight. It was a masterclass in redefining the future of HR, leadership, and business strategy in a world facing climate urgency, shifting talent expectations, and digital acceleration.
Humans are not resources. They’re capital
Dr Nirav began by challenging the audience to re-examine the very language we use to describe people at work. He emphasised that referring to employees as ‘resources’ reduces them to transactions, tools to be used and replaced. At Shree Ramkrishna Exports, the word ‘capital’ is used intentionally to reflect a long-term, value-generating philosophy, he shared.
“When you view people as resources, you focus on extraction. When you see them as capital, you focus on cultivation. That’s the difference between survival and significance.”
SRK’s model is built on the belief that people are not cogs in a machine, but the engine of transformation. This is not mere branding or semantics, it reflects a company culture that treats people not as costs to be optimised but as assets to be developed. The more you invest in your people, the more value they generate not just in productivity, but in innovation, resilience, and reputation. By redefining how talent is viewed, the organisation has fundamentally restructured how it invests in learning, growth, and long-term commitment.
Sustainability isn’t a department. It’s a mindset
One of the keynote’s most powerful insights was the integration of sustainability and HR. In many organisations, Environmental, Social and Governance (ESG) practices are still seen as compliance functions. But at SRK, sustainability and human capital are fused: strategically, operationally and culturally.
Dr Nirav shared SRK’s remarkable milestone: becoming India’s first net-zero energy diamond manufacturer, forty-six years ahead of the national Paris Agreement commitment. But he was quick to point out that this wasn’t an engineering triumph alone—it was a human one.
“Sustainability is not a department—it’s a mindset. If your employees aren’t living it, then your ESG goals are just words on a website.”
He credited this achievement not to engineering prowess alone, but to the buy-in from employees at every level. Sustainability, he explained, must be embedded into the very DNA of the organisation, starting with its people. HR, therefore, is no longer just a custodian of talent, it is a driver of climate action, a champion of ethics, and a steward of the long-term. From embedding environmental consciousness into employee behaviour to training the workforce in climate-positive operations, SRK’s approach shows that sustainability must begin within before it can scale outward.
Breaking silos to build intelligent, integrated ecosystems
Dr. Nirav also spoke passionately about the need to break down functional silos and build connected ecosystems inside organisations. In most companies, HR operates on a separate system from finance, manufacturing, or procurement—leading to delays, inefficiencies, and poor visibility.
At SRK, however, all key functions are integrated into a unified ERP environment. This means HR metrics are not just accessible—they are actionable. Leaders can make decisions in real time, based on live data, not outdated reports. This, he said, is akin to having regular health diagnostics for your business. Just as you wouldn’t assess your physical health once a year, organisations need continuous markers to monitor culture, engagement, performance, and risk.
He called this capability “reading the pulse of the organisation.” Without this integration, he warned, leaders are flying blind and HR risks becoming reactive rather than strategic.
Purpose at the heart of performance
One of the most powerful parts of Dr. Nirav’s address came when he introduced SRK’s guiding philosophy: the alignment of Profit, People, Planet, and Purpose. This model is not an abstract ideal but a strategic architecture behind every business decision at SRK.
He stressed that there is nothing wrong with profit. In fact, he argued that profit is essential, it enables investment in people and sustainability. But when profit becomes the only objective, organisations lose their moral compass. At SRK, people are the priority, not just in language but in practice. The company has achieved an industry-defying attrition rate of just 1%, in a sector where 15% is common. This, he said, is not because of flashy perks or incentives but because employees feel seen, heard, and valued.
Beyond internal practices, SRK is also deeply committed to environmental stewardship and community service. Whether it’s investing in clean energy or uplifting local artisans, the company’s purpose extends far beyond profit margins. “It’s not about what you do, but how and more importantly, why you do it,” he noted, quoting Ross Hekman’s How.
The talent paradox: Academia, industry, and the missing bridge
Dr. Nirav also addressed a long-standing tension in the talent ecosystem: the disconnect between academia and industry. Companies often complain that graduates are not job-ready, while universities lament the lack of industry engagement.
Rather than join the blame game, SRK decided to bridge the gap. Through strategic skilling, shadowing, and early exposure programmes, the organisation ensures that incoming talent is not just functional, but future-fit. It’s this proactive approach that enables SRK to attract and retain skilled professionals without having to outbid on salaries or rely on prestige branding further allowing the company to reduce its dependency on external recruitment while building long-term loyalty.
He warned, however, that retention begins with authenticity. Many organisations fall into the trap of overselling themselves during campus drives, creating inflated expectations that reality cannot meet. This, he said, is a form of “HR-washing” akin to greenwashing in ESG. The result is disillusionment and attrition. The solution? Be honest. “Don’t overpromise. Don’t do HR-washing. Today’s workforce won’t wait to find out the truth—they’ll just walk away.”
Deliver on your promises. And don’t claim what you can’t sustain. Authenticity, he said, is the only long-term employer value proposition that works.
From growth to greatness: Building organisations that leave a legacy
In one of the keynote’s most compelling moments, Dr Nirav urged HR leaders to step beyond traditional boundaries. To lead in today’s world, HR must be fluent in finance, analytics, and sustainability—not just policies and engagement. He shared how a challenge to lead SRK’s sustainability efforts, despite no formal training, became a turning point in his journey. His message was clear: “Stop drawing boundaries around HR. Learn finance. Learn climate science. Learn analytics. Only then can we lead with real impact.”
He closed with a powerful reminder: true progress isn’t just about growing faster, but growing with meaning. “The real measure of progress is not how much more we give to those who already have, but how much better we serve those who have less.”
In a world chasing growth metrics and short-term gains, this sentiment served as both a challenge and an invitation. It’s not enough to scale fast. We must scale right. We must scale with care. The keynote served as a reminder that growth is not the goal—impact is. And HR, when empowered with purpose, data, and courage, is uniquely positioned to drive that impact.
People Matters flagship roadshow series SurgeHR travelled across India’s growing cities. With Ahmedabad being its third stop after Pune & Chennai on the theme “The Seismic Shift: Growing cities leading India’s next talent frontier” exploring the change and opportunities in India's new hubs of innovation and excellence.