Of late, for organizations particularly in the service sector, people have become the strategy. And, if that is the case, the Learning and Development (L&D) department in organizations, and the industry in general, is likely to witness significant growth in 2017 and the years thereafter.
That people are the most important asset of an organization has become atruism, and, it has been habitual to have a people strategy in corporate organizations. Of late, for organizations particularly in the service sector, people have become the strategy. And, if that is the case, the Learning and Development (L&D) department in organizations, and the industry in general, is likely to witness significant growth in 2017 and the years thereafter.
L&D has become a business-critical priority to enhance skills, improve the leadership pipeline, and enhance employee engagement and retention. In last year's Global Human Capital Trends by Deloitte, the importance of L&D increased by 25%, as compared to the year before. The concept of a learning organization has been popular for some time, but, it is only now that we see the idea grounding its roots in organizations, be it in the service sector or in manufacturing. The structural reasons for its growth will continue to grow stronger - there is a serious skill gap in the industry and that needs to be bridged quickly. Today, educational institutions have become sensitive to developing industry ready students, but while they are regularly updating their curriculum, the rate of obsolescence of knowledge is even more rapid, and therefore, corporate organizations will need to keep updating their employees with ongoing changes. According to a survey, one-third of the skills deemed critical today may become obsolete by 2020.
Ahead of the Change Curve
The complexity and magnitude of constant change is becoming more humungous, and, organizations which are agile and proactive with an innovative talent pool are the new lodestars of achievement and market success. It is predicted that in the near future, companies will acquire other companies not for their market capitalization or channel presence in the hinterland, but, purely for their talent pool.
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Continuous Learning For Growth
Of late, for organizations particularly in the service sector, people have become the strategy. And, if that is the case, the Learning and Development (L&D) department in organizations, and the industry in general, is likely to witness significant growth in 2017 and the years thereafter.
Creating Open Spaces And Minds
As the boundaries of life between work and home continue to blur, employers and employees are sitting up and are noticing the ways and means to offer and avail a worthwhile experience at the workplace.
Striking The Right Balance
In 2017, an employee in the HR Department of a leading global company received an excel sheet attachment in his official mail. While the content seemed harmless, it was in fact a well disguised Ransomware attack which had in fact placed several companies worldwide in the dock. Ransomware attacks targeting HR departments across the globe have since been in vogue since they possess valuable employee data which can be used to commit crimes such as tax frauds and the like.
The Multifaceted Advantages Of AI
AI can speed and automate data collection, make fundamental observations, systemize HR issues, and differentiate customer and employee profiles. But, corrective measures and final decisions can only be approved by people who can understand how to leverage AI tools to acquire accurate information sans the noise and interpret them the right way.
Engagement Surveys: A Means Or An End?
Surveys are not merely a way to check the pulse of the organisation; they should ideally be used as vehicles to improve the organisation culture, people practices and employee experiences which gradually translate into business success.
What Is And What Needs!
The idea of the best fit works only in a perfect universe. In reality, what talent specialists and hiring managers should focus on is getting the close fitment. They should work with an approach that bridges the gap between what is (available) and what needs to be (done).
A Matter Of Strategic Timing!
The term 'work-life balance' has become a popular chant for all working professionals today. A world of different opinions continue to pervade our lives, with one actually affirming that there truly is no direct relationship between the parallel worlds we live in.
Picture Out Of The Frame
A few months ago, Moon Jae-in, the President of South Korea, made an unusual announcement.
Analysis
It is paramount for a pharmaceutical company to meet the business requirement of regulatory compliance.
How Can They Fire Her?
It is a common phenomenon in the corporate landscape to misinterpret the inability to respond to a query by a Manager as a serious lapse which at times leads to termination of his/her services. As a fallout, not only do they risk losing out a person with superior managerial skills, they also dampen the spirit of the juniors in her department, leading to sinking morale and reduced engagement.
