HR today requires a tighter alignment of talent skills, and needs to augment its capabilities to anchor change within management processes.
The National Association of Software and Services Companies (NASSCOM) has launched a report to understand the shifting business priorities, focussing on their implications and linkages to the HR of the future.
The report states that talent risk for the IT–BPM industry spans a variety of focus areas and is a key imperative for the industry going forward. It also highlights that the shortage of skills will impede anchoring of business to domain-specific services and SMAC innovation. Limited availability of niche skills needs to be countered aggressively by the industry, as looking at talent costs and employee productivity in silos will limit new innovations.
Sangeeta Gupta, senior vice-president, NASSCOM, says, “The industry is experiencing breakthroughs faster than ever. Lifecycles for innovation are shortening and building new opportunities across the board. In this changed environment, leading firms are leaving behind the traditional models of business. Hence, organisations need to evolve their people practices for a sustainable future.”
The study called ‘The Transformation Agenda’ shares that HR as a function was a big lever in the success of the IT industry. However, now most organisations feel that there is a gap between the strategic imperatives and talent outcomes, which acts as an impediment to business growth.
HR today requires a tighter alignment of talent skills, and needs to augment its capabilities in order to anchor change within the management processes. Organisations need to inculcate predictive analysis to provide more insightful and actionable answers to talent questions.
Talent priorities are changing increasingly too. According to the report, the future will see talent analytics at 60 per cent, followed by talent strategy reconsideration at 53 per cent as well as leadership development and technology adoption at 47 per cent each.
Talent analytics is set to play a crucial role in HR, where companies will be able to calculate what employees value most and then create models to boost retention rates. Integration of individual performance data with HR process metrics, such as cost and time outcome, will help in engagement and retention.
NASSCOM and Aon Hewitt engaged with industry bests to present the views of leaders across the talent value creation landscape.
This report was collated based on inputs from various organisations including Indian service providers, multinational corporations and global in-house centres. About 50 per cent of participating organisations have more than 10,000 employees in India, with 53 per cent of IT companies and 47 per cent ITES companies.