The Indian tech industry is currently grappling with economic headwinds, automation, and a significant slowdown in hiring. Tech giants like TCS, Infosys, and Wipro all experienced substantial hiring declines in 2023 due to these factors. 

Tech Mahindra, India's fifth-largest software exporter, was not immune, reporting a decline in revenue and net profit for Q4 FY2024, accompanied by a marginal decrease in headcount. However, newly appointed CEO Mohit Joshi remains optimistic about future growth, citing the increasing push towards digital adoption as a key driver.

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In response to these evolving dynamics, Tech Mahindra has doubled down on its investment in its workforce. Chief People Officer Richard Lobo emphasised the company's commitment to empowering its talent base, stating, "We have implemented various strategic initiatives to empower emerging talent and enhance organisational capabilities across all levels." 

People strategy amid disruptions

The company recently implemented hybrid work policies welcoming staff back to offices while also exempting new parents from return-to-office mandates - mothers up to 1 year after birth and fathers up to 4 months. "This allows new parents to balance professional duties with caring for newborns," Lobo explained.

They appointed a 'wellness officer' to steer holistic employee wellness programs and healthcare access initiatives. It also utilised an AI tool to identify unconscious bias in communication and provide recommendations. 

Lobo emphasised its workforce's cultural diversity, comprising over 70 nationalities, through progressive policies celebrating demographic differences. "We celebrate differences and design programs and policies to promote cultural diversity," Lobo stated.

When asked about the skilling imperative in the wake of AI advances, Lobo said, “Tech Mahindra reskilled over 50,000 employees through a well-defined AI proficiency framework, investing in AI-learning platforms, high-capacity labs and training infrastructure.”

New leadership programs like Manager as a Coach (MaaC) and Maximizing Personal Effectiveness (MPE) aimed to empower people managers and enhance customer focus respectively.

Project Fortius, a fresher induction and training initiative, will consistently onboard and train 1,500 new graduate hires per quarter on next-gen technologies, he said.

The way forward

Going forward, Lobo indicated Tech Mahindra is exploring holistic well-being solutions, and digital health programs and using AI to personalise employee benefits recommendations based on individual profiles, he said.

Lobo emphasised the significance of "leading-edge people practices" in attracting and retaining talent during periods of disruption. These practices encompass continuous reskilling initiatives, progressive company policies, and fostering an engaging employee experience.

Despite facing short-term business challenges, Tech Mahindra remains committed to strategically investing in empowering and developing its workforce. This focus on employee development is crucial for long-term preparedness in the face of rapid industry changes, concluded Lobo.

Join us for People Matters TechHR India on August 1 and 2, 2024, at Leela Ambience, Gurugram to explore strategies for emerging stronger amidst disruption.