MSMEs have the potential to also serve as a key employment generator for India, creating thousands of opportunities for the young workforce. The key challenge, however, is whether MSMEs are equipped to manage talent.
From hiring and onboarding, to upskilling and retention, MSMEs have an array of concerns to deal with in order to create a good employee experience and retain top talent. Given the shifting priorities of work and an ongoing shortage of workers in most sectors, MSMEs now have to up their game, examine the way they approach talent decisions, and accelerate the adoption of tools and processes that give them a competitive edge.
Leaders Vijay Yalamanchili, CEO, Keka and Abhay Kapoor, Group HR Head, Somany Impresa Group came together to discuss the emerging role of HR in SMEs, in a special LinkedIn Live hosted by People Matters, in partnership with Keka.
Driving people productivity and ensuring business continuity amid crisis
Abhay highlighted how HR teams in small businesses have led from the front in the last two years, showcasing their strengths and building a strong case for themselves in front of the business leaders. The overnight transitions in the way MSMEs deliver services and operationalise work would have not happened without a people-centric approach and business understanding.
The HR professionals as thought partners of CEOs and voice of employees have been playing a key role in driving a renewed energy at work in the post-pandemic milieu.
The rise of tech: HR leaders lead the great change
In the last couple of years, Vijay has seen many CEOs and business leaders embrace the digital ways of working and doing business. This creates unique business and people challenges that need immediate attention. The great shift requires employers in the MSMEs space to relook at the KRAs of their HR teams. The responsibility of HR goes beyond compliance and administration. They have to play the role of change managers, catalysts and trendsetters driving innovation not just in talent practices but also in business.
As Vijay highlighted employees now need one-to-one communication and attention, which means SMEs will need probably more people or HR team members. Furthermore, this growing team of HR will have a fresh set of priorities:
- Identify & address the rapidly evolving talent priorities
- Understand business needs to align people strategies
- Balance between management and employees’ expectations
- Create a value-driven culture through meaningful communication
The role of HR in MSMEs in 2022 and beyond will be more strategic and less transactional. Are you ready for this great reset?