In an exclusive interview with Sonal Arora, Country Manager at GI Group Holding India, People Matters delves deep into the dynamic landscape of talent acquisition and HR strategies set to shape 2024. From the evolving expectations of a younger workforce to the profound impact of emerging technologies, Sonal provides insights into the key challenges and forward-thinking strategies that will define the future of work.

What according to you will reshape and dominate the talent acquisition and landscape in 2024?

The talent landscape has undergone significant and continuous transformation in recent years, and this dynamism is expected to persist into 2024 and beyond. The emergence of new technologies such as Artificial Intelligence, Machine Learning, Blockchain, and Robotics Process Automation, and new industries like Electric Vehicles, Renewables, and Fintech to name just a few, have resulted in a shortage of talent in specific skills and job categories. The demand for these skills surpasses their availability, posing a challenge for recruiting top-notch talent in various skills and industries.

Conversely, with a progressively younger workforce, there is a noticeable shift in the expectations and priorities of talent. Present-day employees not only seek financial rewards and career growth but also value aspects like work-life balance, flexibility, a supportive work environment, and opportunities for continuous learning. Employers therefore must incorporate these elements into their Employee Value Proposition.

Looking ahead to 2024, companies will need to demonstrate strategic agility as they confront evolving market demands, and these demographic and cultural shifts. Since good talent is a critical success factor for any organisation, navigating these challenges is not just a choice but a strategic necessity for businesses aiming to secure a competitive edge in their respective industries.

What emerging trends in HR do you anticipate having a significant impact on your organisation in the coming year?

Apart from dealing with challenges in talent acquisition, organisations will also face critical HR    challenges related to fostering learning agility and enhancing employee resilience. The influence of continuous technological advancements, macroeconomic shifts, and geopolitical factors is causing the shelf life of both products and skills within business organisations to shorten. Consequently, there is an ongoing necessity to consistently train, retrain, and orient employees to align with the evolving business needs. The persistent and seemingly never-ending changes not only affect the skills but also impact the mental well-being of employees who must continuously keep adapting to yet another “new normal”. Therefore, organisations must prioritise the well-being, resilience, and agility of their workforce. In our organisation, “Care” for employees and “Continuous Learning” are integral to our people management framework and we will continue to prioritise these aspects.

As a talent leader, what are the key talent acquisition goals and strategies you have for the upcoming year?

In a landscape where technology and processes can be easily replicated, talent stands out as a crucial and unique driver of competitive advantage. Enhancing employer branding and fostering a positive workplace culture play pivotal roles in drawing in high-caliber talent. At Gi Group Holding, our consistent approach has been to create a conducive environment through our employee-friendly processes and policies. We will also continue to focus on providing opportunities for growth and learning, thus empowering talent to excel and thrive.

The emphasis will also be on ensuring retention, with initiatives focused on professional development and well-being. In essence, my strategy revolves around agility, innovation, and a people-centric approach to guarantee enduring organisational growth.

Are there specific skill sets or competencies the organisation is prioritising in new hires?

In addition to the specific technical and functional skills essential for each role, we give significant importance to qualities such as collaboration, adaptability, learnability, and a growth-oriented mindset. In an ever-changing business landscape, organisations must be agile and resilient, necessitating a commitment from individuals within the organisation to teamwork, continuous learning, and improvement.

Hence, we aim to onboard well-rounded and diverse talent that contribute to our long-term success by emphasising a combination of functional/technical and behavioral skills.            

Do you think remote work has settled into a sustainable model or will more changes be coming next year?

Post-Covid, remote and hybrid work arrangements have gained more acceptance than ever. However, the landscape may undergo further changes in the upcoming year as organisations experiment with finding the ideal working model tailored to their specific needs. Although certain sectors are exploring a return to working from the office, I think this is a temporary phase. Most organisations are likely to ultimately adopt some form of hybrid working unless it is fundamentally misaligned with their business model, as seen in sectors such as Hospitality or Retail.

With that said, there will be a greater focus on employee productivity, performance outcomes, and collaboration. Establishing effective review mechanisms, providing ongoing feedback, and fostering a culture of accountability are crucial elements for ensuring the success of a hybrid model. Organisations that can institutionalise these aspects will be better positioned to embrace the hybrid model in the long run.

How do you envision the impact of emerging technologies, such as artificial intelligence and automation, on the future of work?

Though it is early days, the impact of emerging technologies like artificial intelligence (AI) and automation on the future will be far-reaching. Companies that strategically adopt these technologies are likely to experience greater efficiency and innovation. Routine tasks will increasingly be automated, allowing humans to focus on higher-order thinking, creativity, and complex problem-solving. Many of the low-skilled jobs will become redundant. Though no doubt new roles will emerge, at the same time there will be some amount of temporary job displacement as people learn to adapt to a shift in skills.

It will require a sustained focus on the part of the concerned individuals, companies, and governments to upskill and train the displaced employees in the skills that these new kinds of jobs will require.  Constantly improving skills through ongoing learning will be essential, promoting a culture of lifelong learning.