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Top “Future of Work” Priorities for HR Leaders in Technology Industry - 2024
Top “Future of Work” Priorities for HR Leaders in Technology Industry - 2024

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Last week I had the opportunity to present the key findings of our report “Future of Work – Unravelling the Intricacies of New-Gen Work” to over 70 HR professionals across the technology industry, based out of Hyderabad. Post the key findings we asked the audience some key questions on HR priorities are shaping up this year. A quick snapshot of the same:

What Are your key FoW priorities for 2024/FY25?

And to no surprise learning and skilling topped the chart, which is also came as the key ask from Gen Z, Millennials as well as Future Workforce in our report.

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How are you preparing your current workforce for the potential job roles that may emerge in the future?

In line with the focus on learning and skilling, continuous learning programs was highlighted as the top choice here.

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We also asked who are their top partners, and interestingly the results showed a heightened focus on in-house L&D.

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In our skilling report ”India’s Journey to a Tech Talent Nation  - A ‘Skills First’ Approach” this year, we saw similar focus being highlighted where organizations said that they look for inhouse L&D programs for foundational level skilling, while they prefer to collaborate with expert external partners for advanced level skilling.

The Panel Discussion

The key findings of the report were followed by a panel discussion featuring experts from the domain including Nikhil Kolur, Partner - Deloitte, Rahul Varma, Vice President, HR - Synchrony, Saugat Majumdar - HR Director – OpenText and Pratyusha Sharma, Director - HR , Invesco Ltd.; where they delved into vital elements such as CHRO challenges, top HR priorities, acquisition success factors, flexible work arrangements, and societal impacts.

Some key learnings that emerged from the panel discussion:

  1. Hybrid/Remote/ Work from Home – Its all about how much flexibility you can give an employee basis the role they are leading and organizational work culture. The bottom line while deciding the work model is the answer to the question – Why should be call people back to office. Synchrony highlighted all challenges that people highlight from a remote work setting can be managed.

In a nut shell, if there is a clear purpose which is also communicated well to the employees, implementing the model will not be a challenge. Also, office today are becoming experience centers with increased focus on collaboration and engagement, than just work.

 

  1. Appraisals – Ratings is a thing of the past – Organizations across the board are today looking at valuing employees, their skills, achievements and accordingly accessing them; rather than the traditional rating system. Though, some kind clear objectives need to be set in advance, the way the employees are assessed could be different for each role and each individual.

 

  1. What Gen Z wants - Less monitoring, Faster career growth- which is fuelling new trends like hikes – quarterly, and even monthly. A new trend that is coming up across organizations is off campus fresher hiring.

 

 

  1. Cost remains an important consideration – While efforts are being made to define and redefine Employee Value Propositions (EVPs), related costs at an overall level is also an important factor to consider. Basis experience the panel agreed that fancy benefits don’t last and benefits needs to be designed basis what the employees really value at their end – thus some bit of customization will not harm.

 

  1. HR as a function can not work in Isolation – The success of any HR initiative depends on collaboration and its acceptance across the organisation. To understand what the employees want - make them a part of the decision making – Committees and groups across employees which gives them a chance to voice their opinion has proved to be a successful strategy. Also, with more AI and Analytics now coming in getting employee feedback and analyzing the same have got simpler.

 

To know more about the key trends in Future of Work across its three pillars Future of Jobs, Future of Workforce and Future of Workplace read our report “Future of Work – Unravelling the Intricacies of New-Gen Work”.


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Neha Jain
Senior Analyst

Neha Jain

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