Key highlights of the HR Leadership Dialogue 2011
While the changing market dynamics is the reason for the change phenomenon, the HR departments will have to play the role of alchemist
Today we are in a situation of talent shortage with four or five players fighting for the same talent
The HR Leadership Dialogue 2011, a conference organized by Network 18 in association with Monster.com explored some of the challenges and solutions presented to HR professionals across the industry. People Matters brings you key highlights and learning from the conference
The change in the pace of business dynamics is leading to compelling changes in the way people are to be managed. Today’s demographics, learn-ability skills and employee expectations do not have precedence. While the changing market dynamics is the reason for the change phenomenon, the HR departments will have to play the role of alchemist. These and many more such relevant HR issues were discussed at the HR Leadership Dialogue 2011, a conference organized by Network 18 in association with Monster.com
With business growing at a fast pace, the role of strategic HR becomes imminent. Strategic HR is about looking ahead. The future of any organisation, its mission and its vision, is dependent on the business strategy. The first step is to understand the business strategy, take the business strategy into HR strategy, convert the HR strategy into supporting processes, and then into tools which then bring meaning to a business.
Metrics and measurement
An organisation will view its productivity, costs and other variables, which are required to take it forward. Metrics and measurement as an end product will only be successful if the revolving elements around it are clearly around leadership and value systems today. If an organisation has the right set of values as well as the right ingredients of culture and sub culture, the way employees are measured in that organisation will be different. The requirements of today have changed dramatically. Within a team or department, we see how the boss is able to connect emotionally with people right down to the last level. Employees’ aspirations as well as desires get reflected in the metrics, that is, the way an organisation progresses today. These critical ingredients will govern the future of an organisation.
Today, an HR professional faces five distinctive generations of people who are working in the organisation - a traditionalist, a baby boomer, Gen X, Gen Y and Millennial. Each one is anchored in a particular paradigm of management or leadership. The future of leadership will be ‘cloud leadership’, which essentially means that one can ‘tap it’ when required, otherwise it is nonexistent. There will be nothing called a permanent structure of leadership; it will be a distributed leadership model.
Innovation can be best described as fulfilling somebody’s need. It is a new need which is created and an existing need which is upgraded. It could be in business, could be in strategy, customer, product or process. HR professionals need to create an engagement quotient for all employees with the organisation and should act like the culture and value builders. In future, innovation is going to be an extremely crucial value and a part of the DNA of the organisation. HR needs to act proactively, like engagement agents, in creating innovation as an active quotient in every organisation.
Today we are in a situation of talent shortage with four or five players fighting for the same talent. As people switch jobs, compensation levels rise. Although there cannot be a situation of zero attrition, organisations should concentrate on ‘forming’ employees, which is a deliberate cultivation of talent from within the organisation rather than ‘fishing’.
Work life balance
The nucleus that is emerging out is the importance of people within an organisation. Organisations today have started talking about intellectual capital rather than capital investment; this is the biggest paradigm shift which is taking place and gaining momentum. Once the focus is on intellectual capital and people are your main driver for your business, companies start seeking what keeps their employees happy and satisfied. Factors like compensation, responsibility, or cutting edge technology of the company are fading away and what really matters to employees is support of their peers and supervisors in addition to pride in what they do. In the future, what will matter most are relationships at work and that is where this entire issue of finding happiness and satisfaction of employees becomes a point of focus or study.
The Experts’ Views:
Chief People Officer, Apollo Hospitals
“Metrics and measurement is really an art more than a science. If you want metrics and measurement to work, the most critical ingredients are leadership, values and culture in the organization.”
RAVI SHANKAR B.
Senior VP - HR, HCL Technologies
“The future will be about aspirational leadership; which means that people should believe that they have to follow the leader. If you are not a leader of an aspirational nature, I have no reason to work with you and follow you.”
CHRO, Orchid Chemicals & Pharmaceuticals Ltd.
“Innovation has to do with the culture, value, and the DNA of the organisation; if u don’t have the culture and value which imbibes the organization into a culture of innovation, the organization is not going to progress.”
Managing Director (India, Middle East and South East Asia), Monster.com
“Each individual has to find their own way to handle stress. There cannot be a blanket philosophy or policy or some HR document which can define it; you have to pursue your own calling and take out time to smell the rose and enjoy.”
Executive Vice President - HR,
Rane Holdings Ltd
“Today, the reasons for entry and reasons for exit in an organisation paradoxically appear to be the same.”
CHRO - TAFE Limited
“The HR function, in the next 2-3 years will have to necessarily align itself to the business strategy. The point to ponder now is whether or not HR and business strategy is able to connect to one another for greater effectiveness.”