In the 90's, the role of a Human Resource Manager was more of a ‘Personnel Manager’ – someone that hires a candidate and releases the salary on-time. But in the last decade, with business dynamics changing every day, the HR function has tremendously changed and it is no longer a traditional role like what it was a few years back. HR management is no longer an isolated business function but it is a major link between employees, different business units, top management and company goals. HR professionals have the potential to become good business leaders and many are included in the board of directors for decision making. Today HR professionals are required to have a strong understanding of business for the better growth of the organization. It is imperative therefore that as a business school we maintain a close relationship with them and HR conclaves give us the opportunity to do just that.
The year 2020 was understandably filled with many challenges and emphasized the need for companies to establish new codes in every area of their organization, including recruitment and talent acquisition. As we have entered 2021, the majority of HR professionals perceive it as a rebounded year. Thus, to hire or retain the ideal candidate and employee from the talent pool, companies have to set some exclusive and extraordinary talent management strategies. They should bring those codes in process and adhere to them to eliminate the shadow of 2020.
The pace with which the business concepts are fast evolving coupled with a new level of growth has been witnessed by the Indian economy thereby opening up new business opportunities which in turn has brought forward with it new operative challenges. This radical market shift over the years has rendered the HR function even more vital and made it challenging, thus highlighting the role of getting analytics into play. With outreaches of the Covid-19 pandemic, talent has become a scarce commodity and in order to train and retain the best minds, organizations are now applying analytics to get the best out of their employees. The true essence of effective analytics in any vertical of an organization is the distillation of voluminous data into actionable information. An effective analytics system must adhere as the conduit to information oblivious, but hidden from the evident. Therefore, the advent of technology is clearly visible and how it is dominating the HR industry. In order to meet these technological transitions, these HR conclaves are the apt platform as it apprises the budding professionals with current organizational needs and trends.
With economic growth coming back on track, which can create the jobs for India’s growing population requires, HR professionals today are to encompass all levels of the organization and reach out and relate to their employees. Leadership needs to be developed and nurtured right from the shop floor to the executive suites; every employee should be given the opportunity to do meaningful work. HR should be done with the heart, from the heart, it is very important for HR professionals to establish the ‘emotional’ connection to build committed and motivated teams. Today, people and organizations need to continuously upgrade and update their skills and learnings to remain relevant and the responsibility of HR is to facilitate this continuous cycle improvement and learning. These conclaves play a vital role in making strategic investment into future employees' needs and building the business model of the organization in order to create opportunities for leadership development at all levels. It also urges HR professionals to create avenues for employees to develop leadership qualities and people skills in social spaces beyond the workspace.
In order to build the leaders of tomorrow, it is important to keep abreast of trends in HR hiring and what their business heads are looking for in a world that looks very different than it did previous years. An HR Conclave gives us some insights into this. Post Covid, the needs of HR professionals and their companies have become somewhat complex. The talent pool requires more soft skills, graduates with an analytical mind, problem solvers, employees that show flexibility and agility. This information when it comes from industry leaders always falls harder into the minds of students and the exchange of information is important. For the HR professional likewise it is crucial that they know what the concerns of today's graduates are; are they more interested in entrepreneurship opportunities, startups or gigs?
With business dynamics changing every day, it is very important for organizations to have talent pools that are flexible to adapt to those changes. Thus, such HR conclaves are not only a choice but very important for B-schools to nurture leaders of tomorrow. The HR Conclave allows us to build upon these industry connections every year and make the network stronger - something that is very important for a business school. It also provides a good networking opportunity for students.
The ultimate goal of such conclaves is to get the students industry and market ready. Interaction at HR conclaves helps build their confidence and ensure that they are aware of current trends and sentiments of the real world.