‘Talent Structure Set to Become More Viable’
Compensation from the current levels will grow moderate, making the talent structure more viable, says Sandeep Chaudhary, chief executive officer of Aon Hewitt Consulting in India. In an interview, he talks about the compensation and HR trends. We need to realise in India that our compensation at the senior level is competitive globally. It is okay to decelerate the salary increments of seniors. The best-performing organisation will have compensation as only one of the factors. The pull of other factors such as role, training and development and career plans charted for the year is equally strong.
If being the best pay master makes you the best employer, it would be so easy to be the best. It’s never about retention really. It is about engaging the employee. Compensation from hereon will grow moderate. The talent structure will become more viable.
On the changing role of HR
The HR function is becoming a better part of the business orchestra in recent times. HR after many years still has to respond to the existentialist questions on its role, contribution and importance. Some organisations and their HR leaders have worked with business outcomes in mind as opposed to offering services on talent hiring, managing compensation etc.
Big data in HR
More recently, HR has had to understand how big data has tremendous opportunity to leverage their employee data to improve operational performance and analytics, making it a lot smarter and agile. Big data and talent analytics is not only about advanced reporting, but strategic and predictive analytics that can help improve hiring, retention, sales performance and leadership pipeline, among others.
Consulting in a flux
Consulting reflects the pace of change of business in the economy it operates in. India went through rapid changes over the last two decades, consulting also followed a similar path. Today, the role of a consultant is sharply defined in a client’s mind. He or she sees us as surgeons for specific issues, not generalist advisors for every challenge.
Sandeep Chaudhary, CEO, Aon Hewitt Consulting