2022 was a volatile year for HR & workforce
Of course the first-half of 2022 was a time of adjustment and coming to normalcy after aggressive burnout during peak pandemic time. It was a period where people were seeking growth and newness in career and life. The industry came forward with a growth mindset and investment. Yes, we had witnessed some unsteadiness due to a few critical factors such as geopolitical instability in the West, surge in inflation, and subsequent rise in repo rates, but I also feel India had positioned itself in a sweet spot. In terms of HR, strength in diversity has become increasingly visible. So yes, while volatility may have been present, I think the lens from which we view the industry also influences our perception.
2023: Will it be a turmoil again or peace?
In my opinion HR will bring credible and important changes in the way we do business. It is a promising time where the key focus will shift towards, empowering talent to drive decision-making changes,driving digital transformation across all verticals, building expert-skills to tackle problems, harnessing young talent and giving them the right platform to ideate and execute critical projects with digital focus and focus on the fundamental DNA of the organisation. i.e. design a comprehensive EVP (Employee Value Proposition) for people of all levels, generations and genders. This creates real impact and value in the long run. So I feel 2023 should be seen as an opportunity that must be seized by all of us.
While volatility may have been present, I think the lens from which we view the industry also influences our perception
HR’s attention on deskless workers or in-office workers
I think we are at a very interesting time when it comes to hybrid work. We have discovered a ‘new way of operating’ where we are very comfortable with technology. We have seen first-hand how efficient work has become – be it processes like hiring and onboarding or interactions with internal and external stakeholders. But in my opinion, irrespective of the mode of working, our focus must be on setting the right priorities and deliverables for employees as clarity is the first step towards successful and fulfilling work. We must also ensure the right L&D opportunities for employees. This will generate a lot of value and create lasting impact. Finally, organisations must make it their top priority to focus and nurture the health and wellbeing of employees, including their family and kin – whether fully remote, hybrid, or in-office.
Pay transparency or staying discreet?
First of all, transparency is a spectrum. Whether or not any organisation publishes the exact pay, what it implies is do people understand the compensation philosophy. In that context, organisations are definitely moving towards greater transparency, and we have come a long way in the last few years. More companies today are standardizing rewards and recognition in all sectors. One example is the focus on ‘pay for performance’ and rewarding the right skill-sets. I also believe individuals know their intrinsic worth; this is truer in today’s connected world than ever before. So it makes a lot of sense for organisations to move towards transparency.
33 leaders predict the upcoming trends for 2023. To find out more click here.
