Deloitte Human Capital Trends Survey
Building the organization for future continues to be the top priority for India Inc.
- Leaders adapting to new organization models
- HR struggling to keep up with technological progress
New Delhi, 26 April 2017: The fundamental shift in the way of doing business has produced seismic changes in the way Human Capital can add value. Deloitte’s Human Capital Trends Report 2017 – “Rewriting the rules for the digital age” - throws light on these changes.
The India Report for Deloitte’s fifth annual Global Human Capital Trends survey has been supported by National Human Resource Development (NHRD) Network. The trends report analyses responses from more than 600 leaders from across the country who took part in a comprehensive global survey of more than 10,000 business and HR leaders in over 140 countries in the third quarter of 2016.
The core theme this year is digital disruption. Driven by the ongoing digital revolution and demographic, political, and social forces, 96 percent of HR and business leaders’ rated building the organization of the future as their highest priority. 57 percent of the respondents indicated that they are either designing or already implementing their organization of the future, focusing on three aspects – Agility, Customer Centricity, and Collaboration.
The high pace of change has renewed focus on transforming key HR processes such as Performance Management and Talent Acquisition – facilitating simplification, faster decision making, better usage of technology, leveraging the power of data, and driving greater accountability towards delivery of results.
Gaurav Lahiri, Partner, Deloitte India said, “Global trends are making an impact in India with the rise of digital disruptions mandating a change in the way organizations operate–with a shift to stronger focus on leveraging networks, collaborative working, and agile business delivery. The report also covers the ways in which leaders are managing the new workforce which is young, techno-savvy, diverse, and global.”
As companies transform, leadership needs change as well. The focus is on moving away from traditional leadership development and towards equipping leaders with the ability and skills to adapt and perform in a constantly changing environment. As the job market in India gets more heterogeneous with greater representation across diverse groups, leadership programs need to move from a ‘one size fits all’ model to one that focuses on specific, individual development needs.
The competition for attracting top-talent continues to become intense. Five years in a row, the theme of culture, engagement and employee brand proposition weighs on the minds of the business leaders. Leaders today have the mandate to become the Chief Experience Officer and deliver differentiated employee experiences across all touch points.
The trends in this year’s report show signs of jobs themselves being reinvented. Organizations are recognizing the need to approach external talent, robotics, cognitive tools, and AI systems as the “new, augmented workforce.” This year 54 percent of Indian organizations are adopting technology and automation and 86 percent understand its implication on talent. However, they are not confident in their ability to manage the augmented workforce, with only 3 percent organizations believing they are “truly” ready to redesign work.
Deloitte finds that 53 percent of companies are redesigning their HR programs to leverage digital and mobile tools, and 22 percent are already using some form of artificial intelligence (AI) applications to deliver HR solutions.
To download the Global and India reports, click here.
Josh Bersin, Principal, Bersin by Deloitte, Deloitte Consulting LLP said, “One most interesting trend is Number 10, the implementation of AI, robotics and cognitive technology in the context of future of work. Everyone is talking about how to use technology to replace work to augment work, to automate tasks, creating new jobs and new opportunities and meet the demand for training and reskilling of people around the world. Organisations are doing this in a massive way and HR needs to get much more involved in the 10 critical trends in rewriting the rules in a digital age.”
Notes to the editor for reference purposes only:
This press release has been issued by Deloitte Touche Tohmatsu India LLP
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Please see www.deloitte.com/about for a more detailed description of DTTL and its member firms.
Sagarika Mamik Gupta
Deloitte Shared Services India LLP
Mobile: +91 9711284005