India’s TOP 500 Companies 2021

INDIA’S TOP 500 COMPANIES 2021 141 Experts’ View How has the role of HR in an organization evolved over the past few years? Human Resources has become one of the most critical functions of an organization today – envisioning the skills required of a workforce for the future and supplying themwith the right resources to maximize efficiency and potential. The evolution of work in the industrial era and the constant disruption – economic, social and cultural – that the we have seen globally has led to human resources becoming a complex arm of corporate strategy, and not merely be a staffing function. Additionally, the pandemic has radically altered the work paradigm and forced organizations to adapt to a dynamic business environment with sustained urgency. HR teams have acted as counselors, facilitators, motivators and even ports of last resort in unprecedented times. Keeping engagement and motivation levels high, while ensuring critical reskilling initiatives are undertaken, and prioritizing employees over everything else, has been a fundamental growth in the HR function. Technology has also fundamentally changed the way we live and work and this is all the more evident in the time of pandemic where work is no longer a place to go to, rather it’s something that you carry in your devices that gives you the ability to work from anywhere. What are the major people-related challenges faced by your industry today? How do you plan to respond to these challenges? I think challenges exist on multiple fronts but employee engagement, recruitment and reskilling/upskilling are the most pressing needs that require attention. We, at IndoStar have developed several initiatives to enable an optimum environment for employees - we have created several new hiring models – focused on remote hiring. With a view to redesign the talent landscape at work, the company has adopted a unique ITD model where associates are hired off rolls and post a rigorous field training of 18 – 24 months are transitioned to on roll. Another such model is Hire Train and Deploy model where we select high potential candidates to undergo customized trainings at Skill Training Institutes, post which they are deployed across organizational roles. This industry- first approach has not only led to cost efficiencies, but also helped with career development and brand awareness. The company wants to continue building on its employee experience factor by ensuring a hassle free virtual onboarding and induction experience. We are conscious of our responsibility as an equal opportunity and diversity employer, with two women CXOs. We are also starting mentorship programs to fastrack women leaders across functional and leadership roles. we are making exhaustive investments to enhance employee digital experience and ensuring paperless transactions. Re-skilling and upskilling of employees should be the top priority of the organization so as to ensure strategies of future are sustained on a large scale. We are experimenting with various modes of work and believe that customized hybrid models will be here to stay. Hence, all our strategies and investments are being made keeping that in mind. What do you see to be the future of the focus of People Management teams moving forward? HR is not just undergoing a small scale change but a fundamental seismic shift. In this dynamic environment, or as it is said the VUCA world that we are in, HR has to transform along with the business. In future, I see HR focus being primarily on speed and efficiency, backed by analytics. As an organization, we have embarked on leveraging technology which will help the business take faster people decisions and be better prepared to address talent management challenges Another focus area for HR as a People Manager, whether inside or outside the organization, would be to build manager’s capability for flawless employee experience. An organization can excel only with an engaged workforce. Building that connect with widely diverse, multi- generational workforce would be critical aspect to look out for. INDOSTAR CAPITAL FINANCE LIMITED Benaifer Palsetia CHRO and CSR Head Dun & Bradstreet