Close Menu
    Facebook X (Twitter) Instagram
    • Our Story
    • Partner with us
    • Reach Us
    • Career
    Subscribe Newsletter
    HR KathaHR Katha
    • Exclusive
      • Exclusive Features
      • Perspectives
      • Friday Features
      • herSTORY
      • Rising Stars
      • Case-In-Point
      • Point Of View
      • Research
      • HR Pops
      • Dialogue
      • Movement
      • Profile
      • Beyond Work
      • By Invitation
    • Brief News
      • Global HR News
      • Compensation & Benefits
      • Diversity
      • Events
      • Gen Y
      • Hiring & Firing
      • HR & Labour Laws
      • Learning & Development
      • Merger & Acquisition
      • Performance Management & Productivity
      • Talent Management
      • Tools & Technology
      • Work-Life Balance
    • Special
      • Editorial
      • HR Forecast 2026
      • Cover Story
      • HR Forecast 2024
      • HR Forecast 2023
      • HR Forecast 2022
      • HR Forecast 2021
      • HR Forecast 2020
      • HR Forecast 2019
      • New Age Learning
      • Coaching and Training
      • Learn-Engage-Transform
    • Studio
      • The CHRO Playbook
      • Quick HR Insights
      • The Corner Office
    • Reports
      • Whitepaper
        • HR Forecast 2024 e-mag
        • Future-proofing Manufacturing Through Digital Transformation
        • Employee Healthcare & Wellness Benefits: A Guide for Indian MSMEs
        • Build a Future Ready Organisation For The Road Ahead
        • Employee Experience Strategy
        • HRKatha 2019 Forecast
        • Decoding and Driving Employee Engagement
        • One Platform, Infinite Possibilities
      • Survey Reports
        • Happiness at Work
        • Upskilling for Jobs of the Future
        • The Labour Code 2020
    • Forums
      • HRKatha Inner Circle
      • HRKatha Futurecast
      • Leadership Summit 2025
      • Rising Star Leadership Awards
      • HRKatha Futurecast 2025
      • Automation.NXT
      • The Great HR Debate
    WhatsApp LinkedIn X (Twitter) Facebook Instagram
    HR KathaHR Katha
    Home»Opinion»The role of HR in digital banking regime: Makarand Khatavkar
    Opinion

    The role of HR in digital banking regime: Makarand Khatavkar

    Makarand KhatavkarBy Makarand KhatavkarJanuary 5, 2018Updated:February 5, 20194 Mins Read4866 Views
    Share LinkedIn Twitter Facebook WhatsApp
    Share
    LinkedIn Twitter Facebook WhatsApp

    Not just managing change, future is in adapting to never ending disruptions. Makarand Khatavkar predicts for 2018 and beyond.

    Predicting trends is a significant annual ritual. And rituals are important across all cultures because they reduce anxiety and give people confidence. My apprehension though is, given the hyper-complexity of our times, predicting trends may not bring psychological safety unlike in the good old days.

    Some trends just carry forward in a different avatar with various shades of grey every year. While the headline themes that we are witnessing in this disruptive era will appear similar to the past, the depth and complexity will be staggeringly different and overwhelming. The future is not just about managing change. It is also about being explorers, unaware of where we will land, about discovering new things, and also about course correction, learning and adapting. I see this as a singular, pervasive and inescapable theme of the disruptive digital era.

    Managing disruptions: We will not only be managing change, but also be constantly adapting to never-ending disruptions. We have seen disruptions everywhere—banking, manufacturing, medicine, education and customer behaviour. Helping managers and employees manage these disruptions will be the number one priority for HR professionals. As there are no proven and guaranteed solutions, HR professionals will have to explore, experiment and course-correct both organisations and themselves. This will mean spending minimal or no time on mundane control, policy and regulation functions and spending disproportionate time on value adding tasks, such as creating an agile, more collaborative and learning-oriented organisation.

    Makarand Khatavkar

    HR professionals will be expected to create flexible, adaptable structures and collaborative cultures, which will be quite a challenge.

    Customer obsession: Traditionally, HR has been responsible for ‘internal customers’ so that frontline employees can serve customers better. There is nothing wrong with that thought process. However, given the ability of small and unconventional players to disrupt large established businesses, even HR will have to think about external customers more than ever before, and align hiring, reward and performance management processes from the customers’ standpoint. While HR will carry the responsibility to ensure great employee experience, every policy and organisational process must be viewed from overall customer experience.

    Agile and collaborative organisations: Organisations will survive if they are flexible and deliver value to customers. On the other hand, customers will be picky, demonstrating new behaviours, and brand loyalty will take backstage. In such a scenario, how quickly organisations react to disruptions and new customer behaviours will determine their success. HR professionals will be expected to create flexible, adaptable structures and collaborative cultures, which will be quite a challenge.

    In the digital era, soft skills such as leadership, influencing, delegation, team management and human interaction skills will be more important than ever before and soft skills are best learned through experience, interactions, practice and observation of people in action. We need a prudent combination of self-managed and facilitator-managed learning.

    Empowered learning: Empowered learning puts greater power, freedom and flexibility in the learners’ hands. In today’s age of Google, learnings are available on tap (smartphones and tablets). The bulk of functional learning can be pushed using this route. This, however, does not mean that the learning function will cease to exist. On the contrary, in the digital era, soft skills such as leadership, influencing, delegation, team management and human interaction skills will be more important than ever before. Soft skills are best learned through experience, interactions, practice and observation of people in action. We need a prudent combination of self-managed and facilitator-managed learning.

    I will conclude by saying that HR will be far more exciting and strategic than in the past. Administrative and transaction activities will diminish and HR professionals will need to be organizational strategists. I am often asked whether the HR function will disappear in the digital era. The answer is a definitive No, but the administrative jobs will be lost to machines. Needless to say, the strategic roles must be managed by real and smart human beings. A word of caution— these changes will happen over a period of time and it is very difficult to be definitive.

    I wish my fellow professionals a new year filled with learnings, new perspectives and achievements.

    (The author is group head-human resources, Kotak Mahindra Bank. The views expressed in the article are personal and do not reflect the views of Kotak Mahindra Bank or HRKatha.)

    Banking Makarand Khatavkar New Year Special Role of HR in BFSI
    Share. LinkedIn Twitter Facebook WhatsApp
    Makarand Khatavkar

    Leave A Reply Cancel Reply

    Related Posts

    JPMorgan names Mark O’Donovan as new HR head

    October 1, 2026

    Who’s ready to lead next? 10 HR leaders come together to rethink succession in BFSI

    August 11, 2026

    Passing the torch is no longer enough: Why BFSI is rethinking succession

    August 11, 2026

    Unified salary account framework for Central govt staff

    January 15, 2026
    zoha
    Editorial

    Hard work built India’s global reputation. Availability cannot define its future

    I must have been in school when I first heard the slogan. I was passing…

    The rift between the corner office and the floor below

    A general manager at a large Indian steel conglomerate recently described an exchange with his…

    EDITOR'S PICKS

    Undue hardship: Drawing the line between care and capacity

    November 3, 2026

    How Kyndryl’s AIR strategy aims to close the skills gap before it emerges

    November 3, 2026

    Hard work built India’s global reputation. Availability cannot define its future

    November 2, 2026

    POV: Is distributed talent becoming the new workforce strategy?

    November 2, 2026
    Latest Post

    Undue hardship: Drawing the line between care and capacity

    HR Pops November 3, 2026

    What does ‘undue hardship’ mean? An employee requests an adjustment to continue working effectively. The…

    Tusher Majumder to head HR at Saurashtra Cement  

    Movement November 3, 2026

    Saurashtra Cement ropes in Tusher Majumder to head human resources. He brings to the table…

    How Kyndryl’s AIR strategy aims to close the skills gap before it emerges

    Exclusive Features November 3, 2026

    In IT services, the need for new skills can emerge faster than organisations can develop…

    Kerala raises DA amid fiscal strain

    Brief News November 3, 2026

    The Kerala government has reportedly approved a 2 percentage point increase in Dearness Allowance (DA),…

    Asia's No.1 HR Platform

    Facebook X (Twitter) Instagram LinkedIn WhatsApp Bluesky
    • Our Story
    • Partner with us
    • Career
    • Reach Us
    • Exclusive Features
    • Cover Story
    • Editorial
    • Dive into the Future of Work: Download HRForecast 2024 Now!
    © 2026 HRKatha.com
    • Disclaimer
    • Refunds & Cancellation Policy
    • Terms of Service

    Type above and press Enter to search. Press Esc to cancel.