In the cutthroat world of finance, talent retention is a crucial battleground. Lendingkart, a leading fintech player in India, has found a potent weapon: investing in its employees’ experience. It embodies this philosophy, recognising that cultivating talent fuels both individual growth and organisational success. Asit Kumar, CHRO, Lendingkart, emphasises, “For us, employee experience means addressing everything within our control. We aim to enhance the overall office environment, empowering employees to thrive.” This commitment manifests in tangible initiatives spanning digitisation, talent development, and fostering a transparent culture. Tech-fuelled efficiency Lendingkart’s digital transformation extends beyond payroll systems and HR management software (HRMS). The…
Author: Radhika Sharma | HRKatha
“I have no special talent. I am only passionately curious,” said Albert Einstein, and look where it got him! Humanity cannot thank Einstein enough for this valuable trait of his. Curiosity, the insatiable drive to explore and question, is often lauded as a cornerstone of progress. In business, it fuels innovation, drives creative problem solving, and propels individuals to excel. Yet, within the confines of organisational hierarchies, this very trait can turn into a double-edged sword. Curious employees, brimming with questions and eager to challenge the status quo, can find themselves misconstrued as arrogant, leading to frustration and conflict. The…
In the fast-paced world of technology, where innovation and agility are the cornerstones of success, organisations face a constant challenge: nurturing the next generation of leaders. The traditional, slow-paced career ladder often fails to provide the necessary support and guidance for young talent to flourish. Comviva, a subsidiary of Tech Mahindra that provides digital solutions for the telecom and fintech industries, has taken a bold step to address this challenge, crafting a unique ‘career acceleration’ program that propels promising individuals into leadership roles at an unprecedented rate. Imagine a young graduate, fresh out of college and brimming with potential, who…
In an exclusive conversation with HRKatha, Asutosh Panigrahi, chief, Tata Steel Industrial Consulting (TSIC), sheds light on the strategic decisions and the vision that motivated Tata Steel to venture into the realm of consultancy. Here’s a unique perspective from a key figure at the helm of this transformative endeavour: Q. What initially inspired Tata Steel to venture into the consulting business and establish Tata Steel Industrial Consulting (TSIC)? A. The creation of this platform is driven by the desire to disseminate information, share benchmarking practices and contribute to the growth of India, aligning with the ‘Made in India’ initiative. It…
Workforce development is vital for economic growth and innovation as it enhances productivity, competitiveness and adaptability to evolving industries. Employees with updated skills boost company performance and employee satisfaction. Not surprisingly, workforce development serves as the primary foundation of DCB Bank’s human-resources strategy. The bank extends invitations to students from various business schools to participate in its popular programme, The Top Recruit (TTR). It is a platform that provides post graduate students an opportunity to showcase their talent based on their practical skills in handling real-world tasks as opposed to solely academic knowledge. Those selected undergo hands-on assignments evaluating them…
In the agrochemical space, the challenge of attracting young and diverse talent is paramount. As the industry traditionally skews towards an older demographic, efforts to infuse youth and diversity become crucial for innovation and sustainability. The rationale behind this is that individuals in the agro sector commonly join a company and often remain in the same role or domain throughout their careers, even if they change employers. Mobility is not high in this industry, particularly because many employees are based in remote areas and prefer stability. Additionally, people in the agro industry tend to stay within specific segments, such as…
A ‘dry promotion’ typically refers to a situation where an employee is given more responsibilities, additional challenges, or a change in job title without a corresponding increase in salary or benefits. While it may seem counterintuitive, there are several reasons why employees may appreciate a dry promotion: “Dry promotions reflect the company’s confidence in an individual, taking into account constraints such as cost or other business limitations,” opines Rajeev Singh, senior HR professional. In such cases, the company demonstrates trust by acknowledging the individual through expanded roles and responsibilities, even if there isn’t necessarily a corresponding salary increase. Therefore, employees,…
A call from the HR on a fine Saturday morning is enough to instantly make one’s heart beat faster. What could it be? The guesses may oscillate between a harmless conversation about a job well done, or an admonishment for performance issues. Such a call is often answered with a mix of curiosity and anxiety, akin to being handed a script where the plot could take an unpredictable turn. A meeting with the HR feels more like a visit to the principal’s office. Why does this fear still persist? Whatever happened to HR managers being people’s managers? “The HR is…
In a landscape traditionally dominated by in-house roles, human resource (HR) freelancers strive to carve out a professional niche, offering a unique blend of expertise and adaptability. The life of an HR freelancer is a narrative of independence — a tale where each project is a chapter in the ever-evolving story of human capital management. From grappling with initial challenges to redefining conventional roles, these individuals weave an account of the changing contours of the modern workforce. What’s it like for HR leaders who choose to freelance? “This decision is influenced by entering a different phase in life, one where…
Nurturing talent and taking care of the learning needs of employees, is one of the five values that Jindal Stainless (JSL) identifies in its Employee Value Proposition (EVP). Therefore, the company has taken a few capability-building initiatives to meet the specific needs and learning goals of its employees. The cornerstone of its capability-building approach is a systematic process for ‘training needs identification’. It actively encourages employees to articulate their requirements for skill enhancement and knowledge development. This self-assessment is crucial as it considers the specific needs essential for effective job performance in terms of technical skills, functional expertise and behavioural…
Steel manufacturing, by nature, is inherently hazardous and accident prone. Additionally, giving hands-on-training to students does raise safety concerns as the training needs to take place in the actual plant. Convincing young individuals to join the sector has become increasingly difficult as the youth today prefer glamorous corporate jobs. After all, corporate jobs are not as physically demanding and appear to require them to work on laptops and in metropolitan areas. To overcome this challenge, ArcelorMittal Nippon Steel India, a joint venture between ArcelorMittal and Nippon Steel, the two global steel-manufacturing companies, relies on its AM/NS India Academy for Skill…
ESDS Software Solutions, a cloud services and data centre solutions company, has innovatively embraced the notion of employee satisfaction through a unique survey platform, which it calls a happiness portal. This digital portal, cleverly designed in the guise of a survey, has become a compulsory engagement for all its team members. Within its structured questions, it delves into the diverse demographics of its workforce, encompassing geographical locations and organisational bands or grades. As the survey unfolds, it presents a mosaic of questions, ranging from the optional to those necessitating self-rating or alignment based on personal priorities. Employees find themselves prompted…
Picture a tightrope suspended between two towering cliffs. On one side, a lush thriving landscape beckons with promises of growth, fulfillment and abundance, while on the other, a rugged terrain of survival demands resilience, adaptability and a keen instinct for navigating challenges. The decision to thrive or survive hinges on a myriad of aspects—personal, environmental and circumstantial. So, how is it possible to recognise the need to shift from survival to thriving mode? When to survive and when to thrive? Suchismita Burman, senior HR leader, points out, “From an organisational perspective, the appropriate time to shift from survival to thriving…
In tough times or amidst a crisis, the interplay of having the right skills and learnings from past experiences becomes essential. Experience serves as a wise guide that helps because of what we’ve been through before. On the other hand, having the right capabilities and being adaptable works as a strong engine that helps us handle new and challenging things. The natural conflict between these two aspects becomes noticeable during turbulent times, when the steadfast dependability of experience clashes with the agile strength of capability. So, which quality works best in such challenging times? Tanvi Choksi, CHRO, JLL, opines, “It’s…
The dynamics of trust and collaboration vary across organisations as everyone will have nuanced differences in their definitions of these terms. The same holds true for WOW Skin Science, an Indian wellness and beauty brand. “The foundation of trust and collaboration, for us, begins with understanding the sentiments and well-being of our employees. Understanding how our employees feel is crucial to provide them with what they need,” points out Smriti Khanna, VP-HR, WOW Skin Science. To achieve this, the company has implemented a robust mechanism, including the use of ‘Employee Net Promoter Score’ (eNPS) surveys. This survey gathers comprehensive feedback…
Finolex, a company that manufactures PVC pipes is currently undergoing a comprehensive transformation, not only from an HR perspective but as an organisation on the whole. This transformation encompasses its shift towards digitalisation, extending to its manufacturing processes and all functional aspects. The core strategy is to ensure more efficiency and visibility in the market, aiming to foster a culture of innovation and continuous improvement. To instil this culture throughout the organisation, the company adopts a bottom-up approach with its ‘Parivartan’ initiative. This initiative allows employees at all levels to submit their ideas for process enhancements, cost-saving measures, product improvements,…
Employees are increasingly looking at wealth-creating opportunities as an integral part of their compensation and benefits (comp & ben) package for several reasons, including financial security, inflation, and the rising cost of living. Traditionally, comp & ben has primarily consisted of a fixed salary, but in today’s competitive job market and evolving workforce preferences, other forms of wealth creation are gaining importance. Managing finances can be difficult, particularly when one is stretching a paycheck until the next one. Hence, it’s important for companies/employers to help employees with guidance on how they can create wealth. How can they do it? “One…
Ever wondered what separates great leaders from those who struggle to make an impact? While leadership qualities such as vision, charisma and determination often hog the spotlight, there’s another side to the leadership equation that’s equally compelling — the leadership derailers. ’Derailing’ means going off track, and when discussed in the context of leadership, derailers are behavioural traits that get in the way of progress. As Reetu Raina, VP & global head-talent management, Amdocs, rightly puts it, “Leadership derailers push one away from the target and define one’s behaviour under challenging situations. Identifying derailers and working on them is crucial…
Perfectionism is the pursuit of the ideal — the unattainable standard that promises flawlessness. The allure of perfection lies in the belief that it leads to excellence, recognition and the highest level of achievement. Those who strive for perfection often set uncompromisingly high standards for themselves, aiming to produce the best possible results. Focusing on details ensures that the end product is well-crafted and free from errors. It contributes to the production of high-quality work, which can be especially vital in fields such as medicine, engineering and aviation. Additionally, attention to detail often requires a deep understanding of the subject…
Talent retention is a crucial part of the talent strategy of service companies. This is because the quality of talent significantly impacts the ability of such businesses to execute projects successfully, showcase their capabilities, and ultimately secure more contracts and new clients. Additionally, given how this dynamic industry is facing challenges due to various macroeconomic factors, it has become essential for service firms to remain highly adaptable and identify opportunities at an early stage. Axiscades Technologies is doing just that. The technology solutions company, focusing on engineering solutions and services, has various strategies in place to retain and nurture talent…
Organisational development (OD) involves bringing about changes and improvement in the processes and structures that are part of the human resources (HR) responsibility. That could be one reason why it is misconstrued as the sole responsibility of the HR. This is natural because the two roles tend to overlap and have a common purpose of lending support to other business processes, including those related to employees and change management. That means, OD cannot happen in isolation. Its success is intrinsically linked to its interconnectedness with various functions and departments within an organisation. It thrives on collaboration and integration, which largely…
The concept of a leaderless workplace is a subject of ongoing debate and experimentation in modern organisational theory. While traditional hierarchical structures have been prevalent, there is a growing interest in decentralised and self-organising approaches. Key approaches to leaderless workplaces include self-management, holacracy, autonomous teams, networked organisations and the adoption of servant-leadership principles. These aim to distribute authority more evenly and promote collaborative decision-making. However, are these theories effective enough to run a leaderless workplace? Do we really see workplaces functioning without a leader? “The trend is undeniably moving in this direction,” observes Shailesh Singh, CHRO, Max Life Insurance. He…
In an era where innovation is the driving force behind progress, it’s crucial to recognise the untapped potential that women can bring to the tech world. Living by the same philosophy, Pitney Bowes, a global shipping and mailing company, has several strategies in place to increase women’s representation in tech roles. The company has recently launched its ‘Explore, Engage and Empower’ (EEE) programme, which addresses the distinct challenges that women encounter in the field of technology, primarily stemming from the absence of adequate representation and inclusivity. “The initiative covers various facets of women’s career paths and nurtures a culture that…
An ideal workplace is where every employee, regardless of background, identity, or perspective, feels not only welcomed but truly valued. In a world of diverse backgrounds, cultures and experiences, embracing inclusivity isn’t just an option – it’s a necessity. Understanding this primary aspect of inclusivity, Merck, the Germany-based science and technology company, has taken several steps to make its diversity, equity and inclusion (DE&I) strategies more targeted and streamlined. In terms of its DE&I approach, the company has gone unconventional. Instead of considering DE&I as a primary HR responsibility, its DE&I programme is overseen and executed by the business. In…
Consider two employees, Alex and Morgan, both exceptional in their own right, but each showcasing distinct qualities and paths. Alex has been a consistent star performer in the sales department for the past five years. He is the go-to person for clients, always ensuring a seamless experience. Morgan, on the other hand, is a vibrant spirit, his mind teeming with innovative ideas. He is often seen brainstorming new strategies, thinking about how to leverage emerging technologies to revolutionise the sales process, and inspiring his colleagues with his forward-thinking approach. While Alex is a super performer, doing exceptionally well in his…
Imagine a corporate world where ambition is celebrated with fervour, propelling individuals towards their goals and aspirations. Some express their ambitions vocally, while others operate quietly, letting their work speak for itself. This ‘quiet ambition’ is often overlooked, yet it can significantly hinder succession planning within organisations. “Quietly ambitious individuals often prefer to work diligently in the background, without seeking the limelight. Consequently, they may not be on the radar of senior leadership or succession-planning committees. This lack of visibility can result in their talents and potential being overlooked,” points out Sunil Singh, senior HR leader. In such a scenario,…