India Inc.'s HR Challenges and Opportunities
After two decades of economic liberalization and an open business environment, the time has come for India Inc. to revisit and prepare its performance report card, especially concerning HR issues. It is true that investment confidence has declined in the last 12 months, inflation has soared, and governance, by and large, has been ineffective, directly impacting the human capital of the industry. However, for HR, all times, whether in rough weather or a smooth ride, are full of challenges. The issue is that India Inc. seems to have become too comfortable too soon. Just a few short years of high growth with harmonious employee relations have seemed to box them into a mindset that fears the slightest disturbance to the status quo and expects the Government or somebody else to bail them out.
HR needs to be on the crease now and forever because it is the people who make the difference in business.
Upcoming Challenges for India Inc.
The upcoming time for India Inc. is one of innovation, restructuring, and reorganizing its business, directly linked with HR initiatives. Sensitivity to the environment, cohesion and identity, tolerance, and decentralization are a few challenges where India Inc. needs to concentrate. Providing skilled manpower and continuously upgrading the skills of current employees according to fast-changing requirements will be an area that will pose a serious challenge to HR professionals. Can the organization learn and adapt? Is the organization innately able to build a brand? Can the organization build constructive relationships with outer and inner stakeholders and enjoy credibility?
India Inc. has to find answers to these questions with the help of HR.
Communicating Change Effectively
As the business grows, it faces a number of influencing factors, such as the need to improve work practices and meet the ever-rising demands of employees. Any changes occurring in the business have to be effectively communicated by HR to employees because research shows that organizations that involve employees are more successful than those that exclude them. One of the most difficult aspects of organizational change is getting employees committed to the changes you are planning to effect.
This time, the cover feature talks about issues that HR may face while India Inc. revisits its whole background, current environment, and measures needed to take for the future. Business stalwarts who have seen the ups and downs of business and kept their flag flying at all times share their experiences and lay out a roadmap of growth for India Inc.
After two decades of economic liberalization and an open business environment, the time has come for India Inc. to revisit and prepare its performance report card, especially concerning HR issues. It is true that investment confidence has declined in the last 12 months, inflation has soared, and governance, by and large, has been ineffective, directly impacting the human capital of the industry. However, for HR, all times, whether in rough weather or a smooth ride, are full of challenges. The issue is that India Inc. seems to have become too comfortable too soon. Just a few short years of high growth with harmonious employee relations have seemed to box them into a mindset that fears the slightest disturbance to the status quo and expects the Government or somebody else to bail them out.
HR needs to be on the crease now and forever because it is the people who make the difference in business.
Upcoming Challenges for India Inc.
The upcoming time for India Inc. is one of innovation, restructuring, and reorganizing its business, directly linked with HR initiatives. Sensitivity to the environment, cohesion and identity, tolerance, and decentralization are a few challenges where India Inc. needs to concentrate. Providing skilled manpower and continuously upgrading the skills of current employees according to fast-changing requirements will be an area that will pose a serious challenge to HR professionals. Can the organization learn and adapt? Is the organization innately able to build a brand? Can the organization build constructive relationships with outer and inner stakeholders and enjoy credibility?
India Inc. has to find answers to these questions with the help of HR.
Communicating Change Effectively
As the business grows, it faces a number of influencing factors, such as the need to improve work practices and meet the ever-rising demands of employees. Any changes occurring in the business have to be effectively communicated by HR to employees because research shows that organizations that involve employees are more successful than those that exclude them. One of the most difficult aspects of organizational change is getting employees committed to the changes you are planning to effect.
This time, the cover feature talks about issues that HR may face while India Inc. revisits its whole background, current environment, and measures needed to take for the future. Business stalwarts who have seen the ups and downs of business and kept their flag flying at all times share their experiences and lay out a roadmap of growth for India Inc.
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