The answer lies in learning, unlearning and relearning, which is the mandate for success.

Culture of continuous learning

Central to preparing for the phenomenon called ‘permavucalution’ is the notion of perpetual learning. “It’s not just about acquiring new skills but also unlearning outdated ones and relearning in alignment with evolving organisational needs,” emphasises Anil Mohanty, CPO, DN Group. This culture of continuous learning lays the foundation for a workforce capable of navigating the complexities of the modern workplace, where AI integration is not just a possibility but an inevitability.

As highlighted by industry experts, including leaders from Maruti Suzuki and other prominent organisations, traditional approaches to strategic planning are becoming obsolete. Instead, businesses are embracing a mindset of learning, unlearning and relearning to navigate through the complexities of the modern world.

“Businesses must cultivate resilience, fortifying themselves against unexpected disruptions while remaining poised to capitalise on emerging opportunities.”

Anil Gaur, senior HR professional

AI: A catalyst for transformation

Artificial Intelligence (AI) is at the forefront of this transformation, promising to revolutionise industries and streamline operations. Systems enabled by AI have the potential to make decision-making more efficient, reduce manual intervention and enhance accuracy. “Leaders must emphasise the need to view AI as an enabler rather than a threat, recognising its ability to simplify tasks, accelerate processes and improve overall productivity,” advises Mohanty. Additionally, they must stress the importance of adequate training and preparation to harness the full potential of AI and ensure that all stakeholders are equipped to embrace this technology.

The fourth industrial revolution, driven by advancements in AI, machine learning, 5G technology, robotic and quantum computing, presents both unprecedented opportunities and challenges. To remain competitive, businesses must invest in up-to-date technological infrastructure and foster a culture of digital literacy and innovation.

“It’s not just about acquiring new skills but also unlearning outdated ones and relearning in alignment with evolving organisational needs.”

Anil Mohanty, CPO, DN Group

Embracing uncertainty

The advent of the VUCA (Volatility, Uncertainty, Complexity, Ambiguity) era further underscores readiness in the face of constant flux. What was once considered an exceptional circumstance has now become the norm, demanding a paradigm shift in mindset and strategy. “Businesses must cultivate resilience, fortifying themselves against unexpected disruptions while remaining poised to capitalise on emerging opportunities,” emphasises Anil Gaur, senior HR professional.

Furthermore, the need for flexibility and adaptability has never been greater, as businesses must navigate unpredictable disruptions such as economic downturns and public health crises such as the COVID-19 pandemic. To thrive in this environment, organisations must embrace a more iterative and responsive approach to strategic planning, continually reassessing their strategies to capture emerging opportunities and address evolving challenges.

Therefore, rather than overestimating future growth or relying on long-term projections, businesses are encouraged to focus on short-term strategies that prioritise agility and flexibility. By staying attuned to current market conditions and avoiding overly speculative assumptions, organisations can position themselves to respond effectively to unforeseen challenges and capitalise on emerging opportunities.

Logic and pragmatism

Amidst market fluctuations and economic uncertainties, leaders emphasise the importance of logic and pragmatism in decision-making. Rather than chasing quick gains or engaging in speculative practices, businesses are advised to pursue gradual, incremental improvements. “This entails avoiding excessive risk-taking, maintaining a balanced approach to planning and prioritising long-term sustainability over short-term gains. By adopting a logical and methodical approach to business strategy, organisations can navigate through turbulent times with resilience and confidence,” suggests Mohanty.

Crisis as catalyst for innovation

Agreed, there is a perpetual state of crisis, but then it also presents an opportunity for innovation and evolution. Startups, buoyed by government support and venture capital, are driving change and challenging established norms. However, as Gaur cautions, “the journey from inception to success is fraught with challenges, requiring not only creativity and strategic direction but also the ability to navigate crises of leadership, autonomy and control.” 

Embracing change with confidence

As organisations embrace the imperatives of learning, adaptation and resilience, they are better positioned to thrive in an ever-changing business landscape. With the right mindset and strategic approach, organisations can transform challenges into opportunities, paving the way for a brighter and more prosperous future in the dynamic world of modern business.

However, “despite the urgency and significance of the ‘permavucalution’ phenomenon, awareness and adoption remain limited within the business community, particularly in regions such as India,” points out Gaur. While some forward-thinking organisations and industry leaders have begun to embrace the permavucalution mindset, many others remain unaware or indifferent to its implications.

He further suggests, “Moving forward, it is imperative for businesses to prioritise education, awareness and proactive action in response to the permavucalution paradigm. Professional bodies, industry associations and thought leaders have a vital role to play in facilitating discussions, disseminating knowledge and driving organisational change.”

While the road ahead may be fraught with uncertainty, it also presents boundless opportunities for those willing to embrace change and innovation. By harnessing the collective ingenuity of industry stakeholders and leveraging the transformative power of technology, organisations can navigate the turbulent waters of modern commerce with confidence and resilience.

The post Navigating the ‘PermaVUCA’ business landscape: Strategies for success appeared first on HR Katha.

The pilots and crew have reportedly been concerned for a while now about the financial health of the airline, since their salaries were repeatedly delayed. Some pilots claim that they were anyway paid much lower than their counterparts working for other airlines.

The airline has assured that the passengers will be given a refund but hasn’t specified when. Meanwhile, the passengers whose flights were cancelled are worried about their refund, with some even tweeting about it and requesting the intervention of J Scindia, minister of aviation.

Kaushik Khona, chief executive officer, Go First, informed employees, via a message, of the financial crisis that the airline is facing. He also indicated that the faulty engines supplied by Pratt & Whitney were to be blamed primarily. Almost half of the airline’s fleet is grounded owing to engine issues. Despite orders from the emergency arbitrator, Pratt & Whitney failed to supply the serviceable and spare leased engines to ensure uninterrupted services of Go First, which led to grounding of so many planes. Therefore, Go First had no other option but to file for voluntary insolvency.

Khona, however, assured the employees in his message that the airline is trying its level best to deal with the situation keeping in mind the best interest of the staff and stakeholders, and that necessary action will be taken to preserve the airline’s operations.

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The parent company of Facebook, Instagram and WhatsApp, is said to be preparing for another round of layoffs, after having let go about 13 per cent of its global team in November 2022.

Like last time, the Company is citing overhiring and uncertainty of the economy as reasons for the layoff. Additionally, the Company is also endeavouring to cut costs amidst dipping revenues.

This news of a second round of layoffs comes close on the heels of Meta giving below average performance reviews to a significant 10 per cent of its employees. About 7,000 Meta employees received poor scores in their yearly reviews, which may be a hint of the upcoming layoffs.

As per the process followed at Meta, employees who are rated as ‘meets some’ are the lowest rated, while those with ‘meets most’ are the second lowest rated. Those who manage the ‘meets most’ rating two times in succession are put on a PIP or performance improvement plan. Those who receive scores below these are assigned to the performance review plan, reports The Washington Post.

Meta posted about $32.17 billion in revenue in the fourth quarter of 2022 followed by about $116.61 billion in 2022. That means, there was a dip of four per cent year-over-year in Q4 and year 2022, respectively.

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As per Deloitte’s ‘Mental health in the workspace 2022’ survey, symptoms related to depression —sadness, loss of interest in fun activities, tiredness, lack of concentration, and indecisiveness — are the most reported mental health symptoms amongst over 59 per cent of the 3,995 employees surveyed across 12 primary industries and demographics.

At least 55 per cent of those surveyed reported emotional exhaustion and burnout. About 51 per cent were irritable and inclined to frequent outbursts.

A good 50 per cent admitted they found it difficult to sleep or enjoy sound sleep. Over 49 per cent said they have experienced anxiety in the form of sweating, trembling, dizzy spells, rapid heartbeat and even upset stomach.

The study reports that 47 per cent impacted employees have experienced stress at work. Stress is commonly caused due to workload, poor team dynamics, absence of recognition and lack of job satisfaction. However, the pandemic gave rise to the work-from-home culture and presented more challenges for the employees due to blurring of professional and personal boundaries. Additionally, the employees were stressed because of the uncertainty surrounding the work environment and the economy on the whole, due to the lockdowns and pandemic-induced job / pay cuts.

This gave rise to a lot of financial insecurity. About 46 per cent of the stressed respondents reported finance-related stress and therefore, adverse mental-health symptoms.

Building workplace relationships was yet another challenge during the pandemic, because it isn’t easy to gain or place trust when interactions are mostly virtual.

It wasn’t just workplace relationships that were affected. On the personal front too, about 39 per cent affected respondents, especially women, admitted to their personal relationships being adversely affected due to their worries and concerns about their family and children.

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According to a survey by LocalCircles, a whopping 87 per cent of 32,000 respondents, from across 235 districts in India, said that they are willing to boycott the purchase of all Chinese goods for the next one year.

HRKatha was keen to evaluate whether jobseekers also felt the same and carried negative sentiments around Chinese companies.

“choosing to work with an Indian multinational over a Chinese multinational is a better option in the present scenario, if there are options available. If one is presented with a choice, it would be smart to exercise it in the right direction.”

The HRKatha team first contacted many of the Chinese companies in India to find out if they faced any such issue currently or were preparing for any such trend in the near future. The team had anticipated that the Chinese companies would deny the existence of any such trend or experience. However, many of the companies in India declined to comment on this.

HRKatha also reached out to a few job seekers to find out whether they were keen to join Chinese companies or refrain from doing so.

One such job seeker, who is currently out of a job – but had worked with one of the BIG 4s in the recent past – shared that she would be quite reluctant to apply to or join a Chinese company. She opines that it will not be the best decision to apply to these organisations, given the uncertainty revolving around them.

“There are ongoing transformations in various industries and new jobs are being created. Therefore, instead of being insecure, people should be willing to change jobs, alter profiles and acquire new skills, thereby keeping themselves valuable in the market. Living in past glory will not let you survive.”

Many job seekers are worried about the fact that the deteriorating relationship between India and China will affect the business and existence of Chinese companies in India, and there will be a constant worry about job loss. That is why, they would like to play and land up a stable job on their next move. “Times are already very uncertain due to the pandemic, and by joining a Chinese company, we do not want to add yet another factor to that uncertainty,” says another job seeker.

The uncertainty has also increased after the Indian Home Ministry banned 59 Chinese apps on June 29, 2020, stating that the move is to protect India’s security and cyberspace.

What do HR folk think about this? Do they agree that Chinese companies have lost their shine as employers in India?

A senior HR leader, and now CEO of a business consulting firm, Talavvy, Rajesh Padmanabhan, agrees that there will be a little bit of caution at first.

However, he is also quick to add that if a job seeker doesn’t have any options in hand — which means that there will not be too much to choose from — then maybe it is better to grab any job offer and go with the flow.

With a very optimistic view, Padmanabhan explains, “Job seekers will not restrict themselves from applying for jobs in Chinese companies. Good jobs, good content and good experiences are still what employees are looking for.”

“Having said that, it also true that choosing to work with an Indian multinational over a Chinese multinational is a better option in the present scenario, if there are options available. If one is presented with a choice, it would be smart to exercise it in the right direction,” Padmanabhan adds.

Ramesh Shankar, former CHRO, Siemens, opines, “Uncertainty will always exist in the world. Today it is about Chinese brands, tomorrow there may be a different scuffle with some other origins. The fact is that we have to be ready to get new opportunities and lose them too, unlike in the past, when people started with one company and retired from there.”

The former CHRO of Cadila, Sunil Singh, feels that it is natural for the candidates to be worried about their future in Chinese companies amidst the ongoing uncertainty.

However, Singh also thinks, “Considering India’s economic status, the Government will not be in a position to fully de-couple the Indian and Chinese economies. Unless we are heading towards a full frontal confrontation with China, candidates can take a calculated risk. This may even turn out to be rewarding for candidates willing to take this risk.”

Is insecurity playing a big role?

Insecurity has definitely crept up after thousands of employees of one of the biggest platforms, TikTok, were laid off in the country. Several TikTokers were left in the lurch overnight, following the announcement of the ban.

As uncertain as things are right now, this incident has scaled up the fear among employees who have been sacked and are in search of jobs in renowned organisations.

For Padmanabhan, job security, as a hypothesis, doesn’t exist in today’s market. It can happen to any company today or tomorrow.

“The factors for insecurity are bigger than the role, and it comes from deep within. It is all about decision making, and to think that anybody is going to profoundly apply their head to think through and figure out whether they are going to have a long-term career is highly illogical.”

In the current context, he explains, “Looking for security in a job is anyway out of question. No company will harbour a bias against somebody who has been displaced from a highly successful company, such as TikTok.”

Another factor the CEO of Talavvy points out is that of indifference to the market. “When the supply is more than the demand, you are always in a situation in the marketplace, where both these factors need to be balanced. However, in today’s job market, you are bound to be a bit indifferent towards what comes your way. You are going to grab what is offered and not think twice about it.”

“Considering India’s economic status, the Government will not be in a position to fully de-couple the Indian and Chinese economies. Unless we are heading towards a full frontal confrontation with China, candidates can take a calculated risk. This may even turn out to be rewarding for candidates willing to take this risk.”

Similarly, Singh feels that risk and reward go hand in hand.

He agrees that there will be an impact, but nothing is going to vanish in a few years. “All the bans you have witnessed have been imposed on companies, which are app based and do not have a lot of manpower involved.”

Today’s employees do not like to stick to one organisation right through their career. They seek change, as changing jobs can help them grow faster in their career. Similarly, organisations also do not commit to giving you lifelong employment. The main reason for this is, rapid change in business models over the years.

In Shankar’s words, “There are ongoing transformations in various industries and new jobs are being created. Therefore, instead of being insecure, people should be willing to change jobs, alter profiles and acquire new skills, thereby keeping themselves valuable in the market. Living in past glory will not let you survive.”

If I was a job seeker today, Shankar concludes, “I would have looked at the possibilities and opportunities, irrespective of any company or origin.”

You have the option to look at life as being full of roadblocks or full of possibilities. These crises create multiple possibilities, but if you think all gates are going to be closed, then that is how you will look at life too.

The post Will job seekers be wary of working with Chinese companies? appeared first on HR Katha.

The insurance company, with its ‘Employee-First’ philosophy at the core, has also given an average bonus of 22.4 per cent in FY 19-20 and has retained its Employees Provident Fund (EPF) contribution at 12 per cent, despite the Central Government offering an option to reduce it.

As per the recent guidelines from the Central Government, the statutory rate of EPF contribution by both employer and employee has been reduced to 10 per cent from 12 per cent, for wage months May, June and July, 2020. However, this is optional, and IDBI has chosen to continue contributing at 12 per cent, keeping in view the long-term benefit of the employees.

Additionally, the Company has also promoted 15 per cent of its employees.

The insurance company has ensured that the appraisal process is carried out on time without any delay in maintaining employee growth.

Despite the lockdown, Vighnesh Shahane, MD & CEO, IDBI Federal Life Insurance, claims, “We were determined to ensure that our appraisal process was completed as per the timelines. As done every year, we launched our process at the end of March and announced the rewards by the middle of May.”

The appraisals were conducted as per the defined steps, which includes submission of the online self-appraisal by the respective employees, followed by performance discussions with the reporting managers or reviewers and signing off on the appraisal in the system.

“We were determined to ensure that our appraisal process was completed as per the timelines. Our methodology and guidelines remained the same, the only difference was that all discussions were carried out digitally.”

Moreover, performance discussions, a key aspect of the appraisal process, took place over phone and video conferencing as face-to-face discussions were not feasible.

Kapil Udaiwal, chief people officer, IDBI Federal Life Insurance, says, “We regularly organise workshops for managers called PATH and BRIDGE. As a part of these workshops, we focus on how managers can effectively conduct performance discussions with teams in remote locations, and evaluate competencies. Hence, we were already prepared in a way, to conduct performance discussions digitally.”

When asked about the difference in appraisal procedures as compared to the pre-lockdown era, Shahane said, “Our methodology and guidelines remained the same, the only difference was that all discussions were carried out digitally.”

“our usual workshops for managers, on how to  effectively conduct performance discussions with teams in remote locations and evaluate competencies, had already prepared them in a way, for digital appraisals.”

This only shows that while working from home, with the help of robust technological infrastructure, the Company managed to ensure that everyone remained digitally connected and meetings and discussions were conducted in a smooth way.

“Our appraisal system is online, which made it more comfortable for users to complete submissions on schedule. Hence, there were no specific changes that we were required to incorporate,” states the CPO.

The Company evaluated the holistic performance of the employees including the pre-defined performance parameters, as well as on the basis of the competencies and values of the employees.

The one-on-one appraisal discussions were conducted digitally, as per the mutual convenience of the managers and their reportees.

Not everyone can work from home and be equally productive at the same time.

Often, employees may be working very hard, but may not be as responsive in terms of sharing ideas or even being vocal about them. Many managers may feel that such team members are not working enough.

Do organisations really consider these things while evaluating employees?

At IDBI Federal Life Insurance, Shahane reveals, “We have created a work culture that fosters openness and transparency, promotes meritocracy, and limits politics and bureaucracy. We trust our employees to focus on their goals and do what is necessary to achieve them.”

Even before the lockdown, the Company claims to have given its employees the space and liberty to work as per their comfort, through initiatives, such as flexi-timings and work-from- home arrangements.

Shahane understands that during this lockdown, many employees have struggled to balance managing their professional commitments with their personal work.

“Maintaining a work-life balance is critical during this period and we have encouraged our employees to look after their physical and mental health by spending time with their families, exercising at home and pursuing their hobbies,” he adds.

The Company had gone into lockdown about 10 days before the end of the financial year. Hence, employees were evaluated on the basis of their performance and achievements during the last fiscal.

Also, the cherry on top was that the Company opted for an early salary disbursement post the lockdown.

“The moment the lockdown was announced on March 24, we immediately released salaries to all the employees to ensure that they had adequate cash to meet all their requirements,” claims Udaiwal.

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In today’s VUCA (volatility, uncertainty, complexity, and ambiguity) landscape, small and big companies are continually facing uncertainty and volatility in their operations. The working environment is increasingly becoming very complex and ambiguous. This has put human resources into a challenging situation in terms of making definitive decisions in the workplace. HR has to look constantly at new tools for making risk-free decisions, and this is where the help of HR analytics comes in.

HR analytics is the use of statistical methods like factor analysis, correlation and regression and making use of different sources and variables to arrive at meaningful insights. It helps HR understand the dynamics in the workforce.

One cannot rely on a person’s experience or tacit knowledge to base one’s decisions on, but on real data and numbers to back one’s workplace decisions. This has proved to add value and improve workforce resource utilisation and deployment. HR analytics is not about merely collecting vast amounts of data, but analysing and processing it to provide meaningful insights. These insights are then used to provide the answers sought by the company, to the following questions, among others:

• Will the predictive attrition model help identify who is going to resign in the next, three, six or 12 months? What is the efficiency factor of this predictive model?
• Is the new tax-friendly employee compensation and benefits programme driving higher retention?
• Are the highly engaged employees at the workplace highly productive? Are they spreading positive employer brand in the workplace and social media?
• Will work from home/flexible working hours lead to better engagement, and to what extent?
• Which generation of employees (Gen X, Gen Y, Gen Z , Millennial) is contributing more towards profitability?
• What are the major reasons for attrition? Is the preventive HR intervention effective in controlling attrition?
• Is there any correlation in employees who are leaving within six months of joining?
• Is there any relation between employees who stay within 10 km radius and retention?
• Is the newly designed Employee Fraud Risk Management effective? Is there any correlation between frauds committed by habitual noncompliant employees/ disengaged employees?

Finance function decisions are based on data, such as graphs, charts, etc. However, in HR, it is based mostly on the relationship component and there is always the risk of being judgmental when it’s a person making decisions. Through HR analytics, this risk can be minimised.

HR can study the behavioural competencies of high-potential employees and share the data with the recruiting team to help them identify potential employees. This data can also be used in training. HR often comes up with various mechanisms intended to achieve employee satisfaction, leading to employee engagement. But today, the mechanism depends on what the employees value more and whether it is going to achieve the outcome.

Based on the HR analytics data, human resource policies are customised, for example, the recent decision by the Government of Delhi regarding the odd and even number cars taking turns to run on the roads. This has led some companies to offer Delhi metro cards to employees and encourage them to take local public transport instead of using their cars. Some companies are exploring the option of working from home.

People management is being accomplished with change thanks to evolving HR analytics. It gives a clear view of performances and drives the organisation towards its goals. This has led managers to understand their employees better and contribute towards planning for their training and development. In turn, the employees will be motivated to be more in tune with the culture of the organisation.

People analytics empowers HR with the ability to identify the gaps between employees and training, which is necessary to be bridged. This is especially important with new hires to help them understand expectations and workflow processes quicker. By digging into insights, HR managers can not only identify which hires will be low but also the high performers.

Predictive analytics contributes to analysis of the workforce beyond the mere basis of academics. While recruiting, many companies look for candidates with high academic records. But this is not full proof of a candidate’s ability to perform. Some bugging questions come to mind:

• Why does one programmer perform better than the other?
• Why do some average employees succeed while some perceived as good recruits fail?
• How much time does it take the new employee to be productive?

One way to employ the use of HR analytics is acceptance and deployment of HR management systems and cloud storage availability. These make it possible for organisations or companies to store all their data in a manner that can be integrated with other workplace operations.

Such cloud software today is readily available and affordable. It is time for employers to take advantage of this progress. By deploying HR analytics, companies collect data based on attrition, retention and other HR aspects. These metrics are then used further to look for trends based on ratios and accounts. The data is then vigorously analysed to give Google insight into employee trends. These insights could be effectively used to shape the organization’s policies and decisions. Businesses have noted that the ability to take initiative is a better indicator of actual performance.

Companies are deploying predictive analytics to drive their HR strategies. Employee data from all locations is analysed and processed to develop programmes based on age, demography and tenure. Information from predictive analytics/HR analytics is used to attract, retain and manage the right talent. To change the course of the manner in which they deal with employees, data-based information is used like predictive attrition models and exit analyses. This predictive modelling tactic is more handy than trying to figure out later why an employee left.

The new approach of HR/predictive analytics provides the ability to measure, quantify and qualify employee data. The new method digs into the ‘why’ rather than the ‘what’ to get the better perspective of things.

HR analytics helps to develop a workforce that is engaged, agile and flexible by using data to gain valuable insights on employees. In the diverse Indian context, the need for HR analytics is felt even more because every company has a broad array of people to manage. Proper management of this varied workforce is a prerequisite for greater synergy and productivity within an organisation. Companies must look towards HR analytics as the new tool to power an organisation’s success through smart people management.

(The author is a HR consultant.)

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