If 2022 was a year of paradoxes and constraints, 2023 will be a year of hope and optimism. Today, when the world economy is grappling with high inflation and slowdown concerns, India seems to reflect some degree of optimism, with most Indian leaders being bullish about Asia’s third-largest economy.
India is projected to grow at 6.6 percent in 2023-24, a tad bit slower than the 6.9 percent in 2022-23, but may not be greatly affected by the global slowdown, according to the World Bank. Does it mean a silver lining for the Indian economy? What impact will it have from a talent perspective, and what lies ahead for talent and other HR professionals? To understand this and more, People Matters’ CEO and Editor-in-Chief Ester Martinez sat down with Nitin Sethi, CEO, of Aon Consulting, India & South Asia, for a free-wheeling interview.
As Aon’s Nitin Sethi shared his insights and observations on the Top Trends HR leaders should look at in 2023, he laid importance on more business talent in HR. He explained why this is the best time for HR leaders to be experimental and why they need to stop being risk-averse.
Among the numerous skills all HR leaders must possess, he felt empathy and the ability to listen to the changing business needs was the most crucial. He predicted that future talent models would be ones that would be driven by customer-centricity and innovation, very closely aligned to what business models are.
Here’s a sneak peek into the things that were discussed.
- Traditional and emerging talent models in 2023
- Talent imperatives organisations will have to take head on
- Top skills CHROs should possess to excel in the near future
- Executing core values in a multi-generational workforce
- Employee engagement in the post-pandemic era of work
- Evolving role of HR, Managers and Leaders in attracting, managing and retaining talent
- HR trends that will shape and differentiate organisations in 2023
He emphasised that in the next few years within India, companies are not going to be struggling with capital however they may struggle with attracting and retaining the right talent and skills to meet business demands. Thus, with the ever-changing consumer preferences, the all-encompassing leadership and talent quality to focus on is the learning agility displayed by individuals to upskill and upgrade.
The gradual shift towards collaborative, cross-functional and autonomous teams was an important change, Sethi felt as he spoke in favour of organisations that had built talent rather than buying it. In the context of employee experience in the post-pandemic era, he questioned the traditional ways of engaging with employees. Connecting, recognising and engaging authentically with employees is vital for business success, he noted.