Article: Performance through people: Winning strategies for business transformation

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Performance through people: Winning strategies for business transformation

Through a three-part roundtable series, HR leaders in Bangalore, Chennai and Gurgaon came together to discuss transformative strategies that are working well.
Performance through people: Winning strategies for business transformation

Are companies able to transform their human capital into competitive advantage? 

According to a McKinsey report, focusing on developing people and managing them well can give a long-term performance edge. Investing in people development can lead not only to higher productivity but also to greater earning resilience. This impacts their ability to attract and retain talent compared to performance-oriented companies. 

A balance between people and performance can set the stage for higher employee satisfaction and lower attrition rates. Engaged, motivated employees are the catalysts for superior performance. 

To better understand how HR leaders are approaching the question, People Matters, in Partnership with Keka, organised a three-city Roundtable to understand three problem areas that help companies accelerate their people agenda. 

Problem Statement 1: Absence of clear performance standards within the organisation.

Problem Statement 2: Leveraging HR analytics for improved decision-making and workforce management.

Problem Statement 3: Examining the influence of leadership on employee engagement and organisational culture.

Through three-cluster discussions facilitated by Kshitiz Sachan, Leadership Coach, Keka,  leaders across industries shared their thoughts on how they’re tackling the three challenges. Here are some of their key insights:

On Performance Management and Metrics

In the ever-evolving landscape of talent management, envisioning a successful transition requires more than just a vague sense of direction—it demands a meticulously crafted roadmap with clear markers of performance metrics. Each milestone is a path towards organisational objectives. 

There’s a necessity of tailoring solutions to the organisation's unique context, enabling employees to thrive amidst evolving business priorities like AI and ESG. It also underscored the pivotal role of leaders in both shaping outcomes and empowering HR teams, recognising their substantial influence in driving positive change within the organisation.

The importance of adopting an entrepreneurial mindset cannot be overstated. Aligning business stakeholders is crucial. This can be done through ongoing training efforts, setting dynamic goals, and planning for career development at both the organisational and individual levels.

HR Analytics and Data Management

Data reigns supreme, wielding unparalleled influence over strategic decision-making. Yet, amidst the vast inflow of information lies the need for clarity—data must be refined and distilled to reveal its true essence. 

Leaders also reflected on the ways HR technology can be used to better understand employees' changing moods, needs and preferences. At the core of making technology and analytics work is the need to ensure that data is captured, centralised, and reviewed with the mindset to take action.

Recognising this imperative, organisations are assembling dedicated teams entrusted with the task of nurturing and safeguarding their data repositories. It's within these clusters of information that the seeds of innovation are sown and nourished by HR analytics. Here, amidst the churning tide of data, organisations find solace, anchoring themselves to the bedrock of consistency, cost-effectiveness, and confidentiality as they navigate the turbulent seas of uncertainty.

Leadership's Role in Culture and Engagement

A leader who understands the heartbeat of their organisation possesses a rare gift—the ability to orchestrate symphonies of success through the collaboration of their teams. 

Culture, a living, breathing entity, thrives not on dictates from above but on the shared aspirations of every individual aligned with the grand vision of the whole. It's a tapestry woven from the threads of passion, purpose, and perseverance, each strand carefully curated by leaders who recognise their role as custodians of a legacy in the making. 

Amidst the crucible of culture, leadership emerges as the crucible in which aspirations are forged, tempered by the right performance metrics and a keen eye on analytics. It's a testament to the transformative power of leadership—a force capable of turning dreams into reality and organisations into legends.

Nurturing a positive workplace culture, promoting work-life balance, and providing opportunities for growth all contribute to employee satisfaction, resulting in increased productivity and innovation.


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Topics: HR Technology, Leadership, #SMEcorner

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