HR is a business imperative
In today’s VUCA (volatile, uncertain, complex and ambiguous) times, HR needs to take charge of building the foundation of a business, particularly in organisations that consider people as their key asset. Panelists at the 22nd HT Shine HR Conclave, Mumbai Chapter, shared their views on how realistic it is to expect the people management function to play a pivotal role in establishing as well as expanding business strategy.
In the initial sessions, D Shivakumar, chairman and CEO, Pepsi Co India, said, “Unlike other business functions, people management is qualitative and hence HR should be fair to both the organisation and workforce.”
Adil Malia, group president HR, Essar Group opened the next session stating, “The greatest challenge for businesses these days is the massive gap between business and people management. For a business to be successful, every HR decision, plan, or process needs to be aligned with the core business strategy.”
Mohinish Sinha, director, Hay Group, thinks the days of HR being solely about implementing processes and managing employee relations is a thing of the past. “What differentiates HR from other functions is its ability to unlock discretionary efforts of people, creating a capacity within the organisation, helping it to navigate through the troughs and crests of the uncertain business world”.
“HR should no longer be looked as a segmented role and should be practised purely like a product,” says Dr Ajay Oberoi, chief people officer and head administration, IDBI Federal Life Insurance.
In the words of R Anand, vice president, rewards and career and talent management, HCL, “Human resource management is all about identifying the needs and aspirations of individual employees to help them perform efficiently.” Rajendra Ghag, senior executive vice president and chief human resource officer, HDFC Standard Life, concludes, “To add value to a business, HR must constantly innovate its practices.”