‘Talent Struc­ture Set to Be­come More Vi­able’

The Economic Times - - Career & Business Life - OUR BUREAU

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

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