An alumnus of the Tata Institute of Social Sciences, and an accredited coach (ACC) recognised by the International Coach Federation, Makarand Khatavkar, group head–human resources, Kotak Mahindra Bank, has built HR teams from scratch, more than once.

A seasoned HR professional, Khatavkar’s career spans three decades. He has spent around 20 years in the BFSI sector alone. Prior to joining Kotak, he led HR at Deutsche Bank.

He speaks to HRKatha, on how the banking industry is realigning its people’s strategy with the changing business environment, and the plans specific to Kotak Mahindra’s employee engagements.

Around 38 per cent of participating companies plan to fire managerial-level employees, while there will be only 29 per cent reduction in the workforce in the current quarter. Speed of hiring is expected to go up from 62 to 88 per cent.

Though business in e-commerce is driven by technology, the human element continues to play a pivotal role in new-age economies, making the role of HR more dynamic and challenging.

Gen X is unique in the sense that they have had hands on experience of the both the old and new world, which has enhanced their adaptability quotient and also makes them amenable to various tools and approaches for learning, rather than sticking to one way only.

Ironically, the less we know about potential hires and their propensity to contribute to an enterprise, there is a greater probability of them being incentivised in terms of rewards, remuneration and compensation!