Over the past four decades, the IT-BPM industry has come a long way. From cost arbitrage, collaboration and value addition, the focus has now changed for organizations to deliver business outcomes for their clients. India continues to be the one stop destination – in 2015, it retains its leadership position with a share of 55 percent cent in the global sourcing arena.
The IT-BPM industry is experiencing breakthroughs faster than ever, life-cycles for innovation are shortening, the East is gradually becoming the new West and more importantly technology is the new fuel disrupting and enabling businesses. Leading firms are leaving behind the traditional models of market access; instead they are creating new markets and controlling consumer experience like never before.
The only static paradigm that remains is the access to talent as an enabler to organizational capabilities; yet even in its static state, the entropy defining changes within the talent conundrum across demography, values, culture and psycho-graphic is immense.
As organizations navigate these times, this convergence of talent, technology and shifting psycho-graphics brings HR at the crossroads. The new work, workforce and workplace are driven by business and talent aspirations.
Talent has remained front and center for the IT industry and with signs of changing contours, mega trends affecting employment patterns, globalization and associated diversity are making the evolution of the HR organization an imperative. Driving business outcomes, developing dynamic talent programs that evolve with changing business needs, and leading change associated with business transformation are key business requirements for the HR organization going forward.
Business existence is gravitating towards three anchors:
- Agility: both in mindset and strategy to accommodate and create place for itself in the disruption era where mega trends are a given
- Speed: in executing an agile strategy that is living and mature enough to deliver till the next iteration kicks in and
- Innovation: that remains the last standing pillar of competitive advantage in a world where the business model is short-lived
Talent Risks for the IT-BPM industry span a variety of focus areas:
- Shortage of skills will impede anchoring of business to domain specific services and SMAC innovation
- Looking at talent costs and employee productivity in silos risks scuttling innovation
- Limited availability of niche skills needs to be countered aggressively by capability building
Inadequate selection systems may impact holistic assessment of candidates as against selection based on skills In this context, NASSCOM and Aon Hewitt partnered to build an exclusive HR initiative titled – “The TransfoHRmation Agenda” Taking on the theme of “What got us here, won’t get us there”; NASSCOM and Aon Hewitt engaged with the industry leaders to better understand the shifting business priorities, their implication & linkages to HR of the future. The study features inputs from 49 companies, presents the views of leaders across the talent value creation landscape. The findings of our study present an imminent case for the Refresh and Reboot of HR. HR in this industry has matured rapidly to deliver success time and again; our findings shed light on the contours that define the future of HR beyond this tipping point.What should HR do more? What should HR do less? Successful HR organizations will live this “refresh and reboot” reality by breaking away from the usual rut of transactions and budget efficiencies. The power of co-creating and delivering business outcomes will be critical for the function to create impact. Our insights into this re-imagined HR of the future leads us towards five key outcomes that successful HR organizations will deliver upon.
- Deliver on Experience and Aspirations: If the aim is to get to the heads and hearts of their employees, organizations need to treat them as customers. Organizations have to begin by clearly defining brand promise, which includes a higher purpose, meaningful work, the opportunity for personal aspirations actualization and learning, an appealing organizational culture, a sense of purpose, and a pride-inducing set of workplace values. It is in this context that the HR function should introspect on why they exist! The brand promise to the employees hence needs to be real, relevant and consistent across all employee touch points.
- Actualize Culture: Culture plays the binding force between the what and the how. As the anchor of the values of an organization, it is the converging point of delivering on both the business demands and the aspirations of the workforce. A strong culture provides not only great business results but also helps one become a talent magnet.
- Future-proof the business through capability: With the growing importance of capability as an enabler of an organization’s strategy, the ability to take a long term view on “here and now” capabilities and how they will shift in future, is critical to businesses today. The “refresh and reboot of HR” will deliver on the goal of future proofing the business on the backbone of delivering a capability pipeline at all levels and for all skills.
- Enabling High Performance: High performance organizations have clear accountability for strategic goals, which are well communicated and understood by their employees. It not only rewards and recognizes their prime talent, but also provides challenging growth opportunities that meet the future needs of the organization. The effort of HR should be towards driving social collaboration, individual development and learning in the context of the enterprise.
- Influencing Change: All the efforts and outcomes we spoke of will come to fruition if there is the ability to influence change; there are elements that HR can drive, but there are also those where HR will play the role of a facilitator. The journey to driving these outcomes needs willful collaboration and not power plays, it needs shifting mindsets and not diktats, it needs storytelling and not numbers. Change and influence on the business and employees will define success.
To know more about CHRO success mantras, download the FREE NASSCOM- Aon study from here- http://www.nasscom.in/transfohrmation-agenda