Culture defines what an organisation stands for amidst the evolving work landscape and the emergence of new-age skills. Businesses today are confronted with unprecedented challenges and opportunities. Harnessing talent, nurturing culture, and fostering effective leadership have emerged as critical factors for organisations to remain resilient and thrive. 

To explore strategies and best people practices that are influencing business leaders to prioritise, diversify and expand talent and skills pipeline, People Matters and AMS hosted a Senior HR Leader Roundtable in Bangalore.

The roundtable saw participation from industry stalwarts and HR leaders who shared their insights on unlocking the full potential of talent and leadership within an organisation. The session was kicked off with a keynote by Roop Kaistha, Regional Managing Director, APAC, AMS and concluded by Manish Ahuja, Account Director (India), AMS.

Sunaina Kaul, Director, Employee Relations & Diversity and Inclusion Lead, Qualcomm moderated the group discussion on “Harnessing Talent, Culture & Leadership in Current Economic Situation”, covering multiple aspects including creating future-ready talent, building internal and external talent pipelines, identifying leadership qualities, and recognising the role of rewards and recognition. Below are some key takeaways from the session that can help HR leaders and businesses navigate the complexities of the current economic climate successfully.

Core Culture Remains Even as Organisations Evolve

As companies evolve and adapt to changing market dynamics, the core values demonstrated by an organisation are the driving force that enhances employee experience, encourages continuous learning, and builds a culture of people sustainability. Company culture forms the bedrock of an organisation's identity and serves as one of the pillars that help in making business decisions. Emphasising values, ethics, and the shared purpose of the organisation can instil a sense of belonging and drive employee engagement. Nurturing a consistent and positive culture fosters a conducive environment for attracting and retaining top talent.

Rewards Are Beyond Just Compensation Benefits

In today's competitive job market, offering attractive compensation benefits alone may not be enough to retain and motivate employees. HR leaders should explore a comprehensive rewards strategy that goes beyond financial incentives. Recognising and appreciating employees' efforts through non-monetary rewards, such as career growth opportunities, flexible work arrangements, and personalised development plans, can foster a sense of loyalty and commitment among the workforce.

Proactive Approach Through Internal Reviews, Feedback 

To leverage existing talent effectively, organisations should adopt a proactive approach towards talent management. Regular internal reviews and feedback sessions can help identify high-potential individuals and address any performance gaps. Additionally, providing timely rewards and recognition for exceptional contributions can fuel a culture of excellence and encourage a strong work ethic.

Encouraging High-Potential Employees by Building Up Expertise Internally

With the constant need for specialised skills, managing talent acquisition can be challenging. Leaders should focus on building up expertise internally and nurturing high-potential employees through targeted training and development programs. This approach not only enhances employee loyalty but also reduces the need for frequent external hires, resulting in cost savings and knowledge retention within the organisation.

Holistic View to make Leadership Development Programmes Inclusive

Effective leadership development is crucial for organisational success. However, it's essential to adopt a holistic view to make such programs inclusive. Diverse leadership, both in terms of gender and cultural background, can bring fresh perspectives and drive innovation. Therefore, leadership development initiatives should be designed to identify and nurture potential leaders from diverse backgrounds, promoting a more inclusive and dynamic work environment.

Managing Personas and Creating a Level-Playing Field for Women Employees

In many organisations, women employees face unique challenges in their career progression. HR leaders should be proactive in addressing these challenges and creating a level-playing field for women. Implementing policies that support work-life balance, offering mentorship programs, and encouraging an inclusive work culture can help women employees thrive and advance into leadership positions.

Fair Play for All Leaders to be Assessed on Potential, Not Just Performance

Assessing leadership potential goes beyond evaluating performance metrics. HR leaders should adopt a fair and unbiased approach to identifying leaders. Assessing individuals with the right mindset, adaptability, and willingness to learn can lead to more effective leadership appointments and ensure a smooth succession planning process.

Taking essential measures in the people and culture space is vital for business success. HR leaders must adopt a proactive and inclusive approach to talent management and rewards. By prioritising internal development, encouraging diversity and inclusion, and assessing leaders based on their potential, organisations can unlock the full potential of their workforce and remain resilient in the face of economic challenges. Investing in talent, culture, and leadership will undoubtedly pay dividends in the long run, helping businesses to thrive in the dynamic and competitive market landscape.