The digital age is moving at an unprecedented rate and is fundamentally transforming the way organizations operate while necessitating HR executives to embrace disruption and redesign their talent management strategies to succeed. Digitalization has fundamentally reshaped value chains and altered consumer behaviors and expectations be it defense, education, financial services, government services, healthcare, IT & ITES, manufacturing, oil and gas, retail, telecommunications – there is none who would, rather should be left behind. The payoffs arising out of it are phenomenal – from accelerated profitability, improved customer satisfaction to spikes in speed-to-market. But the most intriguing aspect is that this agenda is being driven from the top and is a top priority in most of the boardroom conversations.
However, it is equally important to note that any journey of successful digitalization in any organization goes beyond investment and technology. It actually rests on the most crucial function of the organization – the Human Resources. The Federation of Indian Chambers of Commerce and Industry (FICCI) recently hosted its third edition of HR Conference 2018 on the theme of “Redesigning HR in the era of the disruptive technology.” The event began with an inaugural session which saw an eclectic mix of speakers including Anna Roy, Advisor (DM&A, Industry), NITI Aayog, Ranjan Mohapatra, Director HR, Indian Oil Corporation, and Sreekanth Arimanithaya, Senior Vice President, Integrated Workforce Management and India Co-Managing Director, DXC Technologies.
Digitalization has fundamentally reshaped value chains and altered consumer behaviors and expectations, and there is none who would, rather should be left behind
Speaking at the conference, Anna Roy stated that “Today the use of disruptive technologies like Artificial Intelligence (AI) is pervasive in all sectors and verticals. Human Resource, being one of most important vertical is bringing new opportunities to the fore and giving rise to new areas, leading to better results.” And this necessitates approaching and investing in new technologies as imperative to driving digital transformation. Experts attending the event also discussed the imperative to reskill the workforce and connect with the academia and other parts of the ecosystem to ensure that companies hire the right set of people to gain competitive advantage.
The conference also touched upon the various facets of digital transformation including how technologies like AI and Machine Learning are reshaping the employee lifecycle- recruitment, workforce planning, performance management, rewards, and engagement while integrating these elements with the uberization of work. The event also saw the launch of the report titled, “Are we ready for future?” by FICCI in partnership with Helix, which highlighted HR readiness for the new digital wave. The report revealed that organizations are confident to take the digital challenge but need to put some building blocks in place to focus on strategic benefits. The report also mentioned that HR executives need to see Digital HR as a means to achieve operational efficiency and a tool for better decision making.
The third edition of FICCI HR Conference 2018 was filled with rich content mixed with power packed sessions with live examples, case studies involving practitioners, experts from across industry ensuring take away for everyone. The event reiterated the mantra that the cohesive and collective efforts of both Business and HR are crucial for transformation in the digital era.