After two decades of economic liberalization and open business environment, time has come for India Inc. to revisit and prepare its performance report card especially in respect of HR issues.
It is true that investment confidence which declined in last 12 months, inflation which has soared up and governance by and large has been ineffective, has a direct impact on human capital of the industry but for HR, all times, be it a rough weather or a smooth ride, are full of challenges. The trouble is that India Inc. appears to have got too comfortable, too soon. Just a few short years of high growth with harmoneous employee relations appeared to have boxed them into a mindset which fears the slightest disturbance to the status quo- and expects the Govt. or somebody else to bail them out.
HR has to be on crease now and forever because it is the people who make the difference in business.
The coming time of India Inc. is for Innovation, Restructuring and Re-Organizing its business which is directly linked with HR initiatives. Sensitivity to the environment, cohesion and identity, tolerance and decentralization are few challenges where India Inc has to concentrate. Providing skilled manpower and continuous up gradation of skills in the present employees according to fast changing requirements would be an area which will pose serious challenge to HR professionals. Is the organization able to learn and adapt? Is the organization innately able to build a brand? Can the organization build constructive relationship with outer and inner stakeholders and enjoy the credibility?
Answers of these questions, India Inc. has to find with the help of HR.
As the business grows it faces a number of influencing factors like need of improving work practices and meeting ever rising demands of employees. Any changes occurring in business has to be communicated effectively by HR to employees because researches show that organizations that involve the employees are more successful than those exclude them. One of the most difficult aspects of the organizational change is getting employees committed to the changes you are planning to effect.
This time Cover feature talks about issues that HR may face while India Inc. revisit its whole back ground, current environment and measures needed to take for future. Business stalwarts who have seen the ups and down of business and kept their flag flying in all times, share their experiences and put a road map of growth for India Inc.
regds
