The changing role of human capital managers
The HR profession has evolved
from a welfare, administration role to that of a business partner.
The HR profession has evolved from a welfare,
administration role to that of a business partner. The next step is to embrace
the holistic role as a human capital business manager (HCM), with a business
accountability to deliver human outcomes. HCM practitioners will need to be
fully aligned to emerging trends in the socio-business ecosystem, which can
lead to path-breaking changes in HCM practices and delivery in organisations
across sectors.
There are a few emerging realities. The people work
framework (PWF) is the basic connect between people and work. Historically, the
whole gamut of HR practices has been shaped and developed around PWF—the
self-employed individual creator moved to a collaborative and
mutually-protective guild format, and the advent of factories and large-scale
production saw the emergence of the employer-employee model, which is largely
prevalent even today. PWF has come full circle now, with individual
skill-owners willing to accept assignments in a flexible, non-employment model.
In the years to come, this model will proliferate, forcing HCM to evolve
appropriate practices to administer the new PWF.
In addition, the future may see the ‘Uberisation of HR’.
Just as Uber has turned the commuter paradigm on its head, a skill aggregator
can bring skill owners and users on a platform for mutual benefit.
Organisations of tomorrow may not have employer and
employee relations in the traditional sense, instead we may have a loose association
of skills where people contribute at their convenience of time and place.
The concept of workplace
The very concept of work is undergoing a change. A
company doesn’t need to be multinational in the obvious sense to be called
global. A local set-up may have a supply chain as well as consumers across the
globe. Virtual teams and time-zones have made the workplace global. HCM has to
re-look the leadership and collaboration models and re-skill employees to
manage this virtual workspace. Traditional leadership & development will
move to a more holistic talent identification & development.
The modern-day worker has evolved with a different set of
expectations from life and work. Today, work is a subset of life and lifestyle
shapes work-style. Employees are looking forward to ‘life-work integration’
instead of ‘work-life balance’.
The modern workforce is increasingly getting mobile, with
an attachment to ‘work’ rather than the ‘organisation’. Hence organisations
need to develop a unique retention strategy catering to such needs of Gen-Y and
Millennials. With growing attrition, organisations will also need to build a
strong talent supply chain.
Another trend that will become popular is employees
seeking purpose and meaning in work. Over the years, we have seen examples of
students from even the best business schools leaving lucrative job offers to
work for NGOs or take up what they feel are ‘larger’ social causes. What was
once thought as eccentric is becoming mainstream. It’s time HCM
practitioners—across sectors and across companies big or small—start aligning
to emerging trends in the socio-business ecosystem.
Deodutta Kurane
The author is group president, Human Capital Management,
Yes Bank
Source
| Financial Express | 18 January 2016
Regards
Pralhad
Jadhav
Senior
Librarian
Khaitan &
Co
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