Companies/ corporations: India

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This is a collection of articles archived for the excellence of their content. Additional information may please be sent as messages to the Facebook community, Indpaedia.com. All information used will be gratefully acknowledged in your name.

Co-working spaces

Cities with the most co-working spaces, 2018

July 18, 2018: The Times of India

The top 5 Indian cities with the most co-working spaces, 2018-19
From: July 18, 2018: The Times of India

Co-working operators have leased over 8 million square feet of office space till April 2019 across eight major cities, driven by rising demand for flexible workspaces, particularly from startups. More than 120 co-working operators compete in these cities.

Human resources (HR)

2008>18: Changing roles of chief human resources officers

Namrata Singh, How HR heads are leading change, October 19, 2018: The Times of India

What does a Chief HR Officer do, 2008>18
From: Namrata Singh, How HR heads are leading change, October 19, 2018: The Times of India

There’s very little that a chief human resources officer (CHRO) today would have in common with one who had the same job a decade ago. Back then, the head of the department needed to know the nuances of labour law and be an ace at managing ops. Today, it’s more the ability to plan for the future of work and align employees to growth that’s essential. Today’s CHRO is also more likely to be younger and a woman, though the scale still tips in favour of men.

“The CHRO’s job has become much more like that of a chief transformation officer,” said Reena Tyagi, who has been leading HR at Cigna TTK Health Insurance for six years. “To succeed, the CHRO must master the attributes that were barely on his or her radar five years ago — embracing disruption, practising agility, solving for organisational structure, employing data analytics, and facilitating new work environments. The companies that get the right employees will greatly improve their chances of being able to take advantage of the big changes afoot in the marketplace.”

If a CHRO spent 20% time on talent acquisition in 2008, this now consumes 30% of his/her time. On the other hand, HR operations have reduced from 30% in 2008 to 10% this year, according to a study covering 100 companies by BTI Executive Search. Today, CHROs are more aligned to the business compared to 2008. This means that they are also judged on planning, engagement and mapping the skills capability for the current and future needs.

James Agrawal, MD, BTI Executive Search/PersolKelly, said, “The role of a CHRO is becoming more strategic in managing and developing talent. It is a clear expectation from CHROs that they must help the business by building and assigning talent, especially key people, and work towards unleashing the organisation’s potential.” He said CHROs are now expected to be both business-savvy and data-savvy. “In recent years, we’ve witnessed an increase in demand for analytical CHROs with good business acumen and experience in managing diverse talent and work environments. Companies are looking for CHROs who are innovative and have long-term vision,” he said.

‘Recession, tech advances have reshaped HR work’

According to the study, disruptions have touched all areas of the CHRO’s traditional portfolio. “From the 2008 recession to major technological advances, the events of the past decade have shaped how we work today,” said Shantanu Das, CHRO, Amway India. “A decade ago, a company’s top future challenges were succession planning and developing skills of leaders. Today’s challenge has moved to acquiring and retaining specialised talent. Conventional HR practices are eroding, giving way to agile thinking and dynamic orientation. The role of a CHRO is a hands-on one and a critical element for success is the pace with which an HR leader can transform the culture to enable higher engagement.”

The average number of years required to become a CHRO has come down from 15-20 years to 12-18 years. Contrary to the belief that HR roles attract more women, at the level of CHRO, men hold sway though the gender ratio has improved from 90:10 in 2008 to 70:30 this year.

“Women are under-represented, particularly in senior leadership teams, but companies are increasingly realising the missed opportunities and are promoting women in leadership roles. Many companies have launched internal programmes to improve recruiting, retention, and promotion of women,” said Tyagi.

Leena Nair, the first woman CHRO at Unilever, is an engineering graduate who chose HR. She combines her engineering and HR skills. In a recent interview to TOI, Nair said: “We have to bring the field of human capital and financial capital together. We use standard measures to ensure we get the best talent from the best places. We measure the mood and morale of people with data analytics. With predictive attrition, we are able to predict which employees we may lose. That has saved us 200 million euros, the cost of unavoidable attrition.”