Change itself has changed. Imagine your 8 year kid who had been juggling with alphabets and numbers gradually start working with Microsoft making an informative piece of presentation creating a sight worth jaw dropping. Everything around us is changing at light speed. In the Cornerstone OnDemand Converge Conference, a session on Refresh Reboot HR by Vikrant Khanna raised the curtain on how fast transformations are taking place and how talent strategies interlaced with business strategies impact the overall financial results.
Looking at the panoramic view of transformation, Khanna stressed on what has changed exponentially is the business which has bought the HR department of almost every organization at a cross road. Leading firms are emerging out like a Phoenix bird transforming the traditional model of business to a modern digital generation. This creates a need of hour of to evolve their people practices for a sustainable future.
Today digital technology serves as both a disruptor and an enabler in HR. According to him the three anchors which turbocharge business results are speed, agility and innovation. Because of this change, the workforce is at a crucial point of experiencing the new changing world like never before. Organizations today have seen a complete turmoil with the pace of change it is experiencing. One good example of agility illustrated by Khanna was the big war between two well-known head set companies Boss and Bang & Olufsen competing neck to neck in the market. He sighted how Boss gained an upper hand in the market by transitioning from Bluetooth speaker to a wireless speaker whereas Bang & Olufsen took nearly 3 years to bring in a perfect product. This is agility. The faster you are the more impact you can have.
But does this agility lead to perfection? Khanna brings light on the whole of big transformation relating it to the HR world. He stresses saying everyone is talking about rebooting and refreshing HR but has anyone considered the quality of change that is needed in any organization? Is there any agility in learning? Is anyone giving an eye on learning & development? The best solution to overcome the challenges that today’s HR are facing in this fast pace business world is to develop a working culture which will cornerstone the values of organization.
The workforce of today can be defined on the basis of the silhouette of consumers. In this world of consumer and products, brand is really important which spins around data and their experiences with it. It is data which can help in creating transparency and personalization in any organization which inturn will create user experience which will resonate with the workforce demography. Another paramount factor Khanna stressed on was People Analytics which is the GPS of human capital strength. If you want to get rid of voluntary attrition at your work place it is very important to consider people analytics to empower business.
But in order to attain 100 percent perfection, the HR department has to give heed to technology as talent and technology works hand in gloves, both needed to drive any organization. So to achieve complete digital transformation at work, one needs to revolve around the three important pillars i.e., User experience, Analytics and Outcomes.
Concluding the session on redefining the future of HR, Khanna said that “HR needs to think about the outcome of any business which will make the digital journey a smooth sail”.