My experience in Great Lakes Institute of Management HR conclave was thought stimulating and extremely informative. The theme of the conclave was ‘Managing Human Capital in the Globalized Business Environment’. It served as a perfect platform for educational institutions and corporate fraternity to ideate on various new age HR issues.
The list of dignitaries included:
Shri Prem Chand Gupta Honorable Union Minister for Corporate Affairs
Dr T.V Rao Chairman, T.V Rao Learning Systems Pvt Ltd
Mr Muthuraman Managing Director, Tata Steel
Mr Chandrasekaran President & Managing Director, Cognizant
Dr Chandrasekhar Sripada President HR, Capgemini Consulting India Pvt Ltd
Mr Allen Sequeira Sr VP HR, Mahindra & Mahindra Ltd
Mr B Venkatramana Sr VP HR, Reliance Retail Ltd
Mr Lancelot Cutinha VP HR, Big FM
Mr Steve D Rich Shared Services Manager India & ASEAN HR, Caterpillar
Mr Anuj Kumar Associate Director HR, CSC
Dr K Prabhakar V P Corporate HR, Apollo Hospitals
Mr C Mahalingam Executive VP & Chief People Officer, Symphony SVCS
Mr Boddapati Balaji Director, ADP Private Ltd
With that esteemed list of dignitaries; a great conclave was assured even before the start of it.
It did meet my expectation and felt blessed to invest my time in such an occasion.
Some key learning and observations were as follows:
*It’s money value of time which concerns rather than vice versa.
*Sensible product differentiation has brought product branding.
*Most important investments are time and emotional commitment.
*India’s success is based on LSP [Lakshmi, Saraswati and Parvati] quotient.
*Human mind is still classificatory even today.
*HR is the new strategic variable for Corporate India.
*Competent people are increasingly scarce to find.
*The way in which 360 degree or assessment devt centre are applied is very important
*HR professionals are increasingly Internet savvy, communicative, well networked and energetic.
*HR professionals lack:
1.Thorough understanding of talent mgmt and devt process.
2.Comprehensive professional knowledge and skills.
3.Patience to stay long enough in a job to make a difference.
4.Long term thinking and holistic orientation.
5.Respect for local talent.
A few qualities for global leadership are as follows:
1. High degree of self awareness and focus on self renewal.
2. Result oriented and they deliver result.
3. Ability to empower, reward and recognize others continuously.
4. They have a sense of priority and purpose.
5. Integrating ability.
6. Know when to leave.
7. Bounce back from mistakes.
8. Cultural sensitivity.
9. Ability to seek and manage diversity.
*Globalization is a compulsion and not choice.
*Have common performance standards across the globe.
*Integration of cultures during M&A is very important.
*There should be a well defined purpose behind any M& A
* Integration does not mean uniformity.
*All processes of the acquirer may not be right.
* The combined entity may need new processes and approaches.
* Agreeing to disagree is important.
* Insist on pre merger due diligence.
* Tolerate and respect differences.
*Set aside turf.
*Adapt to new culture.
The two key mantras of a successful M&A are :
1. Be humble
2. Learn along the way.
*Value identification depends on financial, operational distribution synergies, managing emotions and alignment of structural process.
Three challenges identified to manage workforce diversity are:
*Creating teams inclusive of both [M&A] companies is very important.
*In order to out compete; out innovate.
*There is huge scope for HR in un-organized sector.
*In order to make a strong employer’s brand; one has to really listen to employees on attraction and retention; don’t believe there will be no one simple answer; watch it evolve over time; set key metrics to manage the issue.
*Foster creativity at workplace by:
1.Being stress free
2.Seek new experience.
3.Ensure you are in an environment that nurtures creativity.
*Making BPO jobs an aspiring career is the biggest HR challenge in the BPO sector.
*Customer satisfaction to customer delight to customer astonishment.
*Leadership has two dimensions: Visionary and Architectural.
*Creating a shared vision through vision workshop is the key in having the perfect vision statement.