Author: Admin Ad Astra

In today’s digital age, ‘infrastructure’ extends beyond roads and bridges—it encapsulates the digital highways that connect us in cyberspace. Simply put, it is the backbone of our online world, ensuring that data flows smoothly and systems communicate seamlessly. One segment of this infrastructure is finance—a tool that has transformed how we manage, transfer, and save our money. Recognising its transformative potential, the Indian Govt. has launched several initiatives. From the Pradhan Mantri Jan-Dhan Yojana (PMJDY) aimed at universal banking to the India Stack promoting secure and inclusive payments, the government is striving to make digital finance universally accessible, with a particular focus on women.

Setting the Stage

A survey by YouGov indicates that in urban India about two-thirds of women engage with digital modes of payment, with convenience standing as the leading reason. Interestingly, cashback, promotional offers, and the ability to keep a record of payments are also cited as motivators. However, the report also suggests that despite these numbers, achieving gender parity in digital financial accessibility remains a challenge. The constraints faced by women are twofold: limited access to financial services and limited access to digital technology, both of which have traditionally been male-dominated.

The Influence of Digital Payments: Role of UPI

The Unified Payments Interface (UPI), a real-time digital payment system, has transformed the way we make transactions. As per a World Economic Forum report, In 2021, India led the world with 48.6 billion real-time payment transactions, leading the chart and saving the economy approximately $67 billion since its inception in 2016. Not only has UPI enabled the easy transfer of money from one bank account to another, it has also linked QR codes, phone numbers, and bank details, making payments more user-friendly. “A large number of transactions via UPI demonstrate that this indigenously designed payment system is very secure,” said Prime Minister Shri Narendra Modi. 

The seamless integration of UPI with popular applications like Paytm, GooglePay, and PhonePe, coupled with easy refunds on failed transactions, has fuelled the growth of digital payment transactions. The spike in UPI usage during the COVID-19 pandemic further attests to its popularity. 

The Growth of UPI and its Impact on Women’s Financial Independence

UPI’s rise has been striking, with transactions in May 2023 hitting 9.41 billion—a 58% increase from the previous year, as per YouGov’s survey. However, achieving gender parity in digital payments is still challenging. ” Springer Link’s study points out that one out of every five Indian women doesn’t have a bank account. Efforts are in place to boost these numbers, but challenges persist in regular account activity and gaining access to savings and loans. Even with hurdles, embracing digital finance can drive us closer to goals like gender equality and job growth.

Policies and Initiatives Propelling Digital Financial Inclusion

Several programs have been launched to boost women’s access to digital financial tools. A notable initiative is the ‘India Stack’, a digital toolbox – featuring a unique digital ID card and easy ways to make online payments. This toolbox is transforming how women in India manage their money, helping the economy grow. Another key player in this change is the trio of Jan Dhan, Aadhaar, and Mobile – known as the JAM Trinity. Moreover, the PMJDY—launched in 2014—aims to give every household without a bank account their own access. It’s one of the biggest efforts worldwide to increase banking use.

Empowering Indian Women

A study by the Observer Forum Foundation suggests that access to digital payment infrastructure has offered a lifeline to women, unlocking income generation opportunities, fostering asset accumulation, and enabling participation in economic activities. As women gain control over their finances, they are able to weather shocks, such as those brought on by the pandemic, making these resources critical for improving resilience among India’s marginalised populations.

Anticipated Developments and Remaining Challenges

Future developments in infrastructure could amplify women’s empowerment in India. The United Nations has developed a roadmap for their economic empowerment, identifying advocacy and programmatic priorities for strengthening the rights of informal sector workers in India. UNDP suggests that the rise of the gig economy is another exciting development. The adoption of new technologies could create better opportunities for women, provided adequate reskilling programs are available. Increased adoption of digital technology and acceptance of virtual work in sales and distribution could pave the way for women in fields dominated by app-based interactions and phone calls.

Nonetheless, challenges and roadblocks remain to be tackled to realise their full potential. These include limited physical infrastructure, low ATM penetration, limited digital adoption, poor connectivity, cybersecurity threats, and low literacy rates. These factors can hinder the fortification of India’s payment infrastructure and limit women’s access to and use of digital payment systems. Overcoming structural and technological challenges such as cyber-frauds, transaction costs, communication infrastructure, awareness, and adoption requires collective intervention by the industry.

The Ripple Effect

The power of women’s upliftment through digital payment access is clear in places like rural India, where women have traditionally been sidelined. In a nation marked by gender disparities and divided by urban-rural divides, these initiatives have ushered in winds of change. The contrast between bustling cities and remote villages highlights these disparities. Financial imbalances, combined with gender and regional disparities, still hinder India’s potential. The journey to bridge this gap is long, but every step towards an inclusive and equal digital finance ecosystem moves us closer to a brighter, unified future for all women.

The professional aspirations and priorities of every generation differ, often influenced by the socioeconomic and cultural contexts they grow up in. For Gen Z, the generation born between 1995 and 2010, work is not just about earning a paycheck. As recent data suggests, this cohort of young professionals values purpose-driven work significantly, often placing it above many other traditional considerations.

The Deloitte Global 2023 Gen Z and Millennial survey highlighted that while work is central to the identity of Gen Z, they highly value a work-life balance. This balance isn’t just something they admire; it’s their top consideration when selecting an employer. One of the pivotal aspects that contribute to this balance is the flexibility regarding where and when they work.

Compared to their predecessors, Gen Z’s emphasis on purpose-driven work is evident. A 2021 study by Zety revealed that members of Gen Z notably prioritise empathetic workplaces that focus on the broader needs of people and the environment. In contrast, preceding generations mainly viewed pay as the dominant consideration for job selection.

Responding to this shift in worker priorities, companies have been realigning their organisational values and missions. ThoughtExchange, an anti-bias management discussion platform, reported that a staggering 85% of Gen Z participants expressed a desire to be part of a company with a clear and meaningful mission. Further, 89% mentioned they would consider leaving an organisation that doesn’t resonate with their values. Leading the pack, organisations like Patagonia and Ben & Jerry’s have set exemplary standards by committing to social and environmental causes. Witnessing their success, several other firms are integrating purpose-driven values into their foundational principles.

But why this colossal shift? An article in the Harvard Business Review delves into the unique challenges faced by this generation. Many Gen Zers began their professional journeys only to face unprecedented disruptions due to the Covid-19 pandemic. Moreover, they’ve actively participated in movements advocating for social justice, equality, environmental concerns, and more. These experiences have carved out a distinct identity for Gen Z, one characterised by the scepticism of established norms, a hunger for immediate societal change, and a strong desire for workplace transparency.

As employers look to attract and retain the best talent from the Gen Z pool, it becomes crucial to align organisational values with the aspirations of this generation. The paradigm is clear: for Gen Z, purpose takes precedence over the paycheck.

Feedback, an integral component of personal and professional growth, has been viewed differently across generations. But with Gen Z entering the workforce, the need for consistent, open feedback has been redefined. Unlike the more reserved sessions of yesteryears, Gen Z craves continuous communication to ensure they’re on the right track.

A notable aspect of Gen Z’s feedback culture is their preference for face-to-face interactions. A report by The Workforce Institute reveals that 75% of employees prefer receiving feedback in person, contrasting sharply with the 16% who lean towards text messages and the mere 9% favouring emails. This desire for a personal touch in communication underscores the value Gen Z places on genuine human connections, even in an era dominated by digital communication.

The way feedback is structured and delivered is also pivotal for employees. Another finding from the same report highlights that Gen Zers not only want regular feedback but expect it to be specific, constructive, and a balanced mix of both positive and negative insights. They appreciate it when their successes are celebrated, be it individually or as part of a team. The medium of communication, interestingly, has also shifted with people open to feedback through various high-tech platforms like video calls, instant messaging chats, and gamified applications.

Recognising this shift, many organisations are evolving their feedback mechanisms to resonate with Gen Z’s expectations. As outlined in a Harvard Business Review article, managers are now encouraged to provide continuous, clear, and actionable feedback, complete with real-life examples. The frequency of these sessions has increased, with 60% of employees desiring multiple check-ins weekly, and a significant 40% hoping for daily interactions. The paradigm has transitioned from long, drawn-out sessions to brief, frequent, and tech-enabled meetings.

Certain companies have managed to stand out by successfully adapting to this feedback culture. As highlighted by a McKinsey & Company report, Gen Z values individual expression and is deeply committed to diverse causes. Organisations that have fostered such an environment, that respects individual expression and provides avenues for them to rally behind causes they’re passionate about have resonated well with this generation.

As Gen Z becomes an increasingly dominant force in the workplace, companies must evolve and cater to their preferences. After all, feedback, when delivered right, has the potential to drive unparalleled growth and engagement.

Work-life balance, a long-championed concept across generations, is transforming. With Gen Z, the digital native generation was born into an era of rapid technological evolution. As they make their mark in the professional world, they bring forth the idea of “work-life fusion,” emphasising integration over segregation.

A significant facet of this transformation is Gen Z’s inclination towards remote and hybrid working environments. In a study by NinjaOne, a majority (55%) of the graduating cohort of 2023 expressed a preference for remote or hybrid work set-ups. Having said that, traditional office spaces aren’t entirely off the radar. The Psychology Today study reveals a certain eagerness among Gen Z professionals to experience a formal work environment, albeit not on a full-time basis. The data suggests an era where work arrangements are tailor-made, catering to individual preferences, where one doesn’t simply choose between the home or office but finds the optimal blend of both.

However, it’s not just about where they work but also when. Gen Z’s craving for flexibility extends to their work hours, allowing them to merge their personal and professional worlds seamlessly. The Forbes article pinpoints their ideal work schedule as being both consistent and flexible. Such schedules not only support work demands but also provide the latitude to pursue personal endeavours.

Indeed, one of Gen Z’s standout characteristics is their entrepreneurial spirit, often manifested inside hustles. This isn’t merely about earning an extra buck but about integrating personal passions into their primary careers. An example from a BBC Worklife article showcases Shola West, who smoothly combines her full-time role in advertising with a personal consultancy venture, all with the support and encouragement of her employer. Such instances signal the merging of personal brand building with day jobs, enabled by flexible work structures.

Recognising this shift, many corporations are recalibrating their policies to cater to this work ethos. The World Economic Forum report highlights a demand from the workforce (73%) for enduring flexible work models, mirroring Gen Z’s aspirations. It’s not just about work modality. Companies are moving towards offering benefits that resonate with their values. From health benefits to aligning with causes and passions, the aim is to foster a holistic environment conducive to both professional productivity and personal growth.

As the lines blur, the concept of work-life balance evolves into work-life fusion for Gen Z. Embracing this shift will not only attract the brightest talents but will redefine workplace culture for generations to come.

The modern workplace is experiencing a wave of change as Gen Z is expressing their preferences. One thing that stands out is their oscillation between the desires for collaboration and independence.

Gen Z, it seems, enjoys the collaborative spirit. After all, many have grown up participating in group projects, team sports, and online multiplayer games. However, a survey by Betterteam suggests a duality in their preferences. While they are comfortable working in teams, they also harbour a strong inclination to undertake individual projects, allowing them to spotlight their capabilities and assert their value to employers.

When it comes to collaboration, their digital-native status means they leverage technology in ways that previous generations might find avant-garde. A report by Google and eMarketer underlines their media consumption, averaging 10 hours a day. Their favoured modes of communication? Instant messaging apps like WhatsApp and Facebook Messenger, and platforms like Instagram and Snapchat. Recent platforms gaining traction among this demographic include BeReal – an app lauded for its spontaneity and absence of curated content – and Snack, which merges elements of TikTok and Tinder.

Recognising these preferences, numerous organisations are remodelling their physical workspaces and digital setups. The Work Design article highlights the need for companies to morph their offices to cater to Gen Z’s requirements. This involves crafting spaces that foster both solitary concentration and open collaboration. On the digital front, as InformationWeek reports, Gen Z aspires for seamless integration of digital infrastructure in every facet of their work lives.

But with every generational influx into the workplace, there are bound to be challenges. A Forbes article pinpoints one of the hurdles when managing them: cultivating a results-oriented work ethic. It underscores the importance of clear goal-setting and accountability. On the brighter side, a Harvard Business Review article suggests that companies effectively navigating these waters are those debunking age-old stereotypes and facilitating understanding across multi-generational teams.

In essence, as Gen Z carves out its space in the professional realm, the onus is on organisations to find the right balance. By embracing both collaboration and independence, companies can unlock the full potential of this generation.

In the 21st-century economy, skill development is not a luxury but a necessity

As we reflect on the recent World Youth Skills Day, a significant trend in the global professional sphere warrants our attention – the rising importance and demand for soft skills. These skills, often undervalued, are non-technical abilities that involve emotional intelligence and human interaction such as communication, problem-solving, leadership, and empathy. As workplaces continue to digitise and automate, these human-centric skills have gained immense significance, proving to be just as crucial, if not more, than technical proficiency.

Jayanthi Yeshwant Kumar, Chairman, Ad Astra Consultants, says, “In a world increasingly driven by technology, soft skills remain our unique human advantage. They are critical for communication, leadership, and problem-solving across industries. By nurturing these skills alongside AI advancements, organisations can create a harmonious environment where humans and technology work together, driving productivity, innovation, and overall success.”

From an employee’s perspective, today’s workplace can often be tricky to navigate. With evolving technology, employees are always on the lookout to learn new tools. Add to that, changing team dynamics and working with people from different cultures give rise to a challenging environment. It’s in these instances that soft skills become crucial. Being able to communicate clearly, adjust quickly to situations, and understand different perspectives helps employees handle these challenges, create a positive work environment, and grow in their careers.

This trend is not an overnight development. It’s a shift that has been taking shape over time. A survey by McKinsey reported that the focus on empathy and interpersonal skills doubled in 2020. Moreover, leadership and management skills took a front seat in most companies’ priorities, rising ten percentage points yearly, from 40% to 50%. A Deloitte report made a striking projection, stating that “soft skill-intensive occupations will account for two-thirds of all jobs by 2030” and that hiring employees with more soft skills could increase revenue by more than $90,000.

Some of the soft skills include empathy, emotional intelligence, kindness, adaptability, integrity, optimism, self-motivation, and resilience. These are attributes that machines and algorithms, despite their efficiency, can’t replicate, making them invaluable in the workplace.

Rohan Rajiv, Director of Product Management at LinkedIn, stated in an interview that “foundational soft skills have become even more important, given the rise of remote and autonomous work, and are growing in importance across industries, levels and work environments. These were featured in 78% of jobs posted globally over the last three months.”

The prominence of soft skills isn’t just a fad – it’s a paradigm shift in how we view career growth and success. A study involving Harvard University, the Carnegie Foundation, and Stanford Research Center found that 85% of career success is attributed to well-developed soft skills, leaving just 15% to hard skills, including technical knowledge.

With the rise of remote work and digital collaborations, these skills are becoming increasingly critical in maintaining efficient communication and effective teamwork. Moreover, in an era where information is abundant, the ability to critically think, creatively problem-solve, and navigate complex interpersonal dynamics is a distinct advantage.

There’s no denying that the value of soft skills has been recognised worldwide. A staggering 80% of respondents in a survey by LinkedIn’s Global Talent Trends Report agreed that soft skills are increasingly important in today’s business world. Further emphasising the significance, 92% agreed that human capabilities and soft skills matter as much or even more than hard skills, and 89% pointed out that when a hire doesn’t work out, it’s usually due to a lack of soft skills.

The projected growth of the global soft skills training market supports these findings. The market is estimated to grow at a CAGR of 34.62% between 2022 and 2027, adding a market size of USD 119.22 billion according to a study conducted by Technavio. This growth will be primarily driven by the increased adoption of affordable and efficient e-learning solutions, providing accessible soft skills training worldwide.

Reflecting on these figures and insights, it’s apparent that the professional landscape is changing. As Deloitte’s report projected, “soft skill-intensive occupations will account for two-thirds of all jobs by 2030”. To prepare for this future, we need to invest in developing these skills today. This brings us to an essential question – how can we develop these skills in our youth effectively?

Learn World indicates that education and training programs have begun adopting strategies to enhance soft skill development. Initiatives range from establishing coaching or mentoring programs, live workshops, and peer learning to online learning, adopting a learning mindset, simulation training, role-playing, and self-reflection opportunities. These strategies offer diverse avenues to learn and master these skills in different contexts and settings.

As we commemorate World Youth Skills Day, we encourage the emphasis on soft skill development. By preparing our youth for the future of work, we are not just investing in their careers but in the prosperity and adaptability of our global workforce. As the adage goes, “Hard skills will get you the job, but soft skills will get you the promotion.” Let’s work towards building a balanced skill set, shaping our youth for a future where they’re not just workers, but innovators, leaders, and game-changers in their respective fields.

In the ever-evolving landscape of employment and workplace dynamics, HR professionals need to be well-versed in the trends and developments. Emphasising relevance and timeliness in practices not only allows for the anticipation of industry shifts and effective strategic planning but also drives growth and enhances performance within the organisation. By proactively responding to changes, departments can ensure the sustainability of their talent management strategies, supporting the overall business objectives.

Keeping up with trends ensures that the sectors can make strategic decisions that align with the organisation’s objectives. HR metrics and data-driven strategies have become a significant trend today. These strategies enable professionals to make decisions based on data, driving a more strategic approach to talent management.

Trends like remote work, digital transformation, diversity and inclusion, and the gig economy are fundamentally reshaping the workplace. According to a study by McKinsey & Company, more than 20% of the workforce could work remotely three to five days a week just as effectively as they could if working from an office. Therefore, HR needs to revise its strategies to accommodate these trends effectively.

For example, in the case of remote work, HR needs to build policies around remote work ethics, employee engagement, and digital wellness. Similarly, as digital transformation takes centre stage, HR should drive digital literacy and upskilling initiatives across the organisation.

Diversity and inclusion have also emerged as critical components of a successful HR strategy. HR departments should be proactive in developing diversity and inclusion initiatives, creating a more inclusive and equitable work environment.

The rise of the gig economy also presents new challenges and opportunities. As more workers shift to gig roles, HR must rethink traditional employment strategies to attract, retain, and manage this growing workforce segment.

In conclusion, to effectively steer the workforce in this fast-paced working dynamics, HR departments need to stay both relevant and timely. More than just following trends, HR must also become trendsetters themselves, pushing the boundaries of traditional practices to innovate and transform the workplace. By doing so, they will be leading the charge towards a future that benefits the employees and the organisation as a whole.

The future of work is here, and HR departments that are Sustainable, Measurable, Agile, Relevant, and Timely will be at the forefront, enabling their organisations to thrive in this new era.

In today’s ever-evolving business landscape, the ability to be flexible and responsive is crucial, and the HR sector is no exception. Agile HR can help organisations navigate this rapidly changing landscape. This approach involves the adoption of iterative processes, continuous feedback, and cross-functional teams to make HR more responsive and adaptable.

Agile methodologies have been successfully incorporated into various practices, such as recruitment, performance management, and learning and development. One case study reveals how a team of HR professionals successfully applied Scrum, an agile framework, to their development work. They prioritised projects, worked on one or two at a time, released them, and then moved on to the next, thereby focusing their efforts on delivering value to users and completing projects before moving on.

This agility in HR practice leads to numerous benefits. According to a study by McKinsey & Company, organisations using an agile model saw a 20% boost in employee engagement scores. Other benefits include improved team collaboration, better communication across different organisational areas, and enhanced trust within teams due to increased transparency.

Another study by McKinsey & Company suggests that agile performance management is another emerging trend that has shown significant potential. It’s a shift from traditional annual performance reviews to more frequent, real-time feedback. By adopting an agile approach in performance management, organisations create a direct link between the goals of the employees and the priorities of the business. Research has shown that when this alignment is present, employees are 84% more likely to view their performance evaluation process as fair. In essence, employees feel that the system is just because they know from the beginning what they need to achieve and how they will be evaluated.

This approach to learning and development promotes continuous growth, helping organisations stay competitive in today’s environment. It encourages employees to learn new skills and adapt to changes quickly and efficiently.

The Agile HR approach offers a pathway for organisations to stay flexible and responsive in the ever-changing world of work. By adopting this methodology, the departments can become more strategic, forward-thinking, and proactive, leading to improvements in talent management, employee engagement, and overall performance.

In a time defined by data-driven decision-making, Human Resources has embraced this trend, demonstrating that it is no exception to this approach. The application of metrics and analytics in talent management allows organisations to evaluate the efficiency of their recruitment, assess employee engagement, and monitor turnover rates. These measurable factors significantly contribute to optimising strategies and aligning them with business outcomes.

A study by Emerald Insights found that HR technology enables analytics, which in turn facilitates Evidence-Based Management (EBM). EBM enhances organisational performance by driving decisions backed by quantifiable evidence rather than intuition or untested assumptions. This highlights how data-driven decision-making can contribute to overall business success.

Key Performance Indicators (KPIs) are a crucial part of HR metrics. They provide insights into elements like cost per hire, employee turnover, length of employment, employee satisfaction, revenue per employee, absenteeism, average time to promote, and cost per employee. By tracking these KPIs, organisations can improve retention, identify talent gaps, and better understand the effectiveness of their strategies.

Establishing effective KPIs is an art in itself. It requires focusing on a manageable number of performance metrics and leveraging the right tools to track and analyse these KPIs. It’s also essential to ensure that these KPIs are strategically aligned with the organisation’s goals. According to a study by AIHR, only those metrics that reflect HR’s contribution to the business goals—such as talent acquisition, retention, performance, engagement, diversity, and productivity—can be truly regarded as KPIs.

However, the mere adoption of metrics is not enough. The success lies in the strategic application of these metrics. By regularly monitoring and analysing these KPIs, organisations can gain valuable insights into their processes, recognise patterns, predict trends, and identify areas of improvement. This data-driven approach to HR management not only enhances operational efficiency but also facilitates strategic decision-making.

By adopting this method, organisations can streamline their processes, optimise talent management, and align their strategies with their business goals. This, in turn, sets the stage for improved business outcomes and a competitive edge in today’s fast-paced market.

In the world of Human Resources, the acronym SMART takes on a unique meaning—Sustainable, Measurable, Agile, Relevant, and Timely. SMART HR embodies the approach of developing and implementing strategies and practices that are not only sustainable and measurable, but also agile, relevant, and timely. This blog will focus on the first aspect: Sustainability.

Organisations today recognise the need for sustainable HR practices that fuel long-term growth and adaptability. These practices, defined as the adoption of strategies and actions that contribute to financial, social, and ecological goals, leave a lasting impact both within and outside the organisation. But how does sustainable HR translate to long-term growth?

A key element of sustainable HR lies in fostering task autonomy, teamwork, and employee involvement. A study by MDPI indicates that these elements positively influence immaterial satisfaction, which in turn boosts performance. When employees have a sense of control and involvement in their roles, it not only improves their job satisfaction but also enhances productivity.

Moreover, the importance of employee well-being and strong company culture in sustainable HR can’t be overstated. A research by Selectonellc suggests that job seekers place significant weight on a company’s culture when choosing their workplace. At least one-third of them would pass up an ideal job if the corporate culture was unfit. Similarly, a Forbes study suggests that organisations with a robust learning culture have higher engagement and retention rates. These figures underline the fact that sustainable practices are crucial for retaining top talent and maintaining a healthy organisational culture.

Embracing sustainability extends beyond in-house practices, reaching as far as an organisation’s Corporate Social Responsibility (CSR) initiatives. Furthermore, a sustainable HR approach embraces flexibility, such as optional remote work. A survey by Springworks suggests that companies that offer remote work options have reported a 25% lower turnover rate. This aligns with the increasing trend of remote work and digital transformation in today’s workplaces.

Building a sustainable strategy is all about creating a resilient, adaptable framework that not only focuses on immediate goals but also keeps long-term growth and adaptability in mind. By investing in such practices, organisations can create an environment that promotes employee well-being, encourages a strong company culture, and retains top talent—all critical factors for long-term success.

Green jobs represent a sector that combines economic prosperity with environmental sustainability, offering the dual promise of a thriving economy and a healthier planet. Simply put, these are roles in agriculture, manufacturing, research and development, administrative, and service activities that contribute substantially to preserving or restoring environmental quality. These could range from jobs in renewable energy, like solar or wind energy technicians, to roles in sustainable agriculture and green building construction.

As India embarks on its journey towards becoming a more sustainable and green economy, the green jobs sector is gaining significant momentum. Reports by the International Labour Organization (ILO) suggest that the green jobs sector has the potential to become a vital part of India’s labour market and gross domestic product (GDP).

“As we stand on the cusp of a green future, it’s crucial to understand the potential and inherent challenges of the economy. In our organisation, we envision a future where economic growth and environmental sustainability coexist, an intersection where green jobs lie. This sector isn’t just a beacon for job creation but a chance for India to reaffirm its commitment to sustainable development. The rewards are promising – a robust economy and a healthier planet. The green economy is not just a sector of the future, it is the future,” said Jayanthi Yeshwant Kumar, Chairman, Ad Astra Consultants.

A report by the Wall Economic Forum further bolsters this assertion, projecting the creation of an astounding 50 million green jobs by 2030. This growth is not just a surge in employment; it represents an investment with an estimated economic impact. Despite the evolving landscape of the green economy in India, it faces challenges in terms of the talent gap. However, concerted efforts are being made to bridge this gap through skill development.

Opportunities and Challenges

As per a report by McKinsey, the global renewables industry alone will need an additional 2.8 million workers to develop, construct, operate, and maintain wind and solar plants by 2030. The talent gap isn’t confined to blue-collar roles; the industry also faces a dearth of project developers, managers, finance experts, and legal staff.

This talent gap presents a paradox – on one hand, it signifies an opportunity to stimulate the job market and, on the other, it indicates a need to focus on training and skills development to fulfil the demand. The challenge lies in addressing this gap to fully leverage the potential of the green economy.

The Twin Pillars: Environmental Sustainability and Economic Progress

The green economy, with its profound potential for job creation, is poised to make substantial contributions to India’s GDP and environmental sustainability objectives. The Mission 2070: A Green New Deal for a Net-Zero India report further identifies different sectors as the focal points to maximise the opportunities presented by the economy. This transition holds the promise of creating more than 50 million net new jobs and generating over $15 trillion in economic value by 2070.

Promising as the potential economic gains are, the true value of the green economy lies in its alignment with India’s commitment to environmental sustainability.

Equipping India’s Workforce for the Green Future

Recognising the talent gap in the green sector and the need for specialised skills, India has launched initiatives to promote skills development. The National Skill Development Corporation (NSDC), a public-private partnership, prioritises skill development in sectors such as renewable energy and sustainable agriculture. Further, India has taken a lead in the region by establishing the Skills Council for Green Jobs (SCGJ) to identify and promote the development of the skills needed for a “green business”.

Learning and Adapting from Global Success Stories

While India is taking strides towards a sustainable green economy, there’s much to learn from global success stories. The 2022 Global Green Skills report by LinkedIn reported a rise in global green talent, from 9.6% in 2015 to 13.3% in 2021 – a cumulative growth rate of 38.5%. This surge demonstrates a growing global commitment to environmental sustainability. The annual growth of roughly 8% in job postings requiring green skills since 2015 further underscores the growing demand for green jobs. These global trends can inform India’s approach and strategy in fostering its green economy.

Looking Towards the Future

While the future of green jobs in India holds immense potential, it also presents formidable challenges. Addressing the talent shortage in the green sector requires prompt investment in green skills training and education, specifically within high-demand areas.

Concurrently, policy environments need to be made more favourable, incentivising renewable energy initiatives and providing subsidies for green businesses. These measures could stimulate growth in the sector, propelling India to the forefront of the global green revolution.

As we step into this green future, embracing the green jobs revolution becomes crucial. Despite the challenges, the rewards promise a sustainable economy and a healthier planet. By investing in skill development and supportive policies, we can ensure a future where economic growth and environmental sustainability coexist.

The rise of environmental consciousness has not just affected how businesses operate; it has also profoundly impacted their human resources strategies. One particular area where this shift is evident is in the realm of employee benefits, with eco-friendly perks taking centre stage. Eco-friendly benefits are perks offered by companies to encourage environmentally responsible behaviour among their employees.

In India, and globally, several businesses are offering these benefits to align with their values and goals. For instance, companies have implemented green transportation initiatives, providing shuttle services and promoting carpooling among employees. They incentivise the use of public transportation or carpooling, while others provide on-site facilities like electric vehicle charging stations, bike storage facilities, and composting and recycling programs. Other organisations have made strides towards creating eco-friendly campuses that incorporate renewable energy sources like solar panels and include green spaces for employees. These rewards are not only helping to reduce companies’ environmental impact, but they are also providing employees with opportunities to contribute positively to the environment.

Employees’ response to these eco-friendly incentives has been resoundingly positive. Research by Merrimack Media shows that eco-friendly businesses see a 55% increase in employee morale and improvements in business processes. It also highlights that organisations known for adhering to such practices tend to have higher than average employee retention rates. Moreover, employees feel more engaged and loyal to organisations that offer them opportunities to participate in environmental and sustainability initiatives.

By offering eco-friendly rewards, companies are able to attract, engage, and retain top talent. A study by the Anthesis Group suggests that environmentally focused organisations have a higher chance of attracting and retaining the best talent. Businesses with recognised sustainable business models report attracting a high calibre of applicants due to their commitment to environmental responsibility.

In summary, eco-friendly perks are no longer a nice to have but a necessity. By offering these incentives, companies can position themselves as responsible employers. As the world continues to prioritise environmental sustainability, companies that adopt these strategies will undoubtedly be ahead of the curve.

The evolution of the business environment towards sustainability has led to a paradigm shift in the skills demanded in the job market. “Green skills” have emerged as one of the most sought-after competencies in today’s workforce. Green skills empower employees to steer organisations towards adopting sustainable practices, contributing to a better future and enhancing their professional appeal.

In India and the Asia-Pacific region, sustainability is currently the most in-demand green skill, according to LinkedIn’s Global Green Skills report. Businesses are prioritising candidates capable of advising organisations on integrating such activities into their operations. It’s clear that the future of business leans towards sustainability, so those with the skills to guide this transition are in high demand.

The heightened interest in roles like Safety Manager, Health Safety Environment Advisor, and Ecologist reflects the increased emphasis on environmental consciousness in the business world. These roles play a critical part in managing environmental risks and guiding such practices within organisations, underlining the importance of green skills.

To fill this demand-supply gap, companies are increasingly offering training and development opportunities in sustainability and green skills. Investing in employee development in these areas signals a company’s commitment to sustainability, a trait that is increasingly appealing to job seekers and employees alike.

However, training in green skills is not only beneficial to businesses; it is also advantageous for employees. This upskilling opportunity can boost their career prospects and give them the tools to make a positive impact on the environment. It can also lead to increased job satisfaction, as employees can align their personal values with their professional contributions.

In conclusion, the green skills gap presents an opportunity for forward-thinking companies to invest in their employees’ development. Empowering their workforce with the knowledge and skills to drive sustainability can result in a stronger organisational identity, improved business performance, and a better future. Given the rising demand for green skills, the businesses that prioritise this development will likely lead the pack in the transition towards a green economy.

In today’s evolving business landscape, companies are recognising that adopting sustainable habits like reducing waste, and energy conservation aren’t just good for the environment; it’s also crucial for attracting top talent. Embedding sustainability as a core value can have significant positive effects on an organisation, particularly in the context of retention.

Demand for sustainability professionals in India underscores the importance of this trend. A survey by Ailuna revealed that 40% of millennials would opt for a job based on the company’s commitment to incorporate such as green building initiatives, reducing carbon footprints, and supporting clean energy. A staggering 70% said they would stay longer with a company if it had a strong sustainability plan.

Sustainability practices can be a powerful tool for talent retention. A key aspect is creating a positive environment grounded in sustainability values. This involves integrating these values into the workplace culture. Another practice is to offer opportunities within green initiatives. Examples include renewable energy projects and circular economy approaches.

The company can also encourage involvement in sustainability reporting. Transparent communication about the organisation’s environmental impact is essential too. This fosters trust and helps employees feel connected to the company’s mission. Finally, recruitment and selection processes should be examined. These should be adjusted to prioritise candidates with sustainability skills and a green mindset.

As more millennials enter the workforce, the demand for sustainability-focused roles is set to increase further. For businesses looking to keep pace with this trend, integrating sustainability into their core values isn’t just a nice-to-have; it’s a must. A robust sustainability ethos won’t just set companies apart in the marketplace; it’ll also make them employers of choice for the workforce of the future. Their commitment to activities such as waste management programs, green transportation, and sustainable supply chains will underscore their commitment to a greener future.

The urgency of the climate crisis has brought about a shift in the corporate world – a move towards sustainable business practices, extending all the way to human resources. Enter green recruitment, a hiring strategy that emphasises candidates’ alignment with environmental management systems within organisations. Such systems may include reducing paper usage through digitalisation, optimising energy usage, and implementing waste management protocols. In India, as elsewhere, businesses are beginning to understand the value of integrating environmental concerns into their operations and brand.

Companies increasingly face pressure to address environmental issues. A powerful way they can do this is by adopting green recruitment, turning environmental responsibility into a significant aspect of their operations. For instance, they could prioritise candidates who have demonstrated commitment to the environment, perhaps through volunteer work or academic research on sustainability. This not only positively impacts the planet, but helps firms brand themselves attractively to potential talent.

Initiatives such as the Indian Government’s Mission LiFE (Lifestyle for Environment) have made sustainability a top priority. By outlining 75 exercises to promote climate-friendly behaviour, Mission LiFE encourages corporations to embed sustainability into their recruitment strategies. These activities include energy saving, reduced use of single-use plastic, and sustainable food systems. Companies adopting these are not only enhancing green recruitment but also setting a positive example for their employees and the industry. Businesses that align themselves with these values are likely to be more attractive to a new generation of job seekers.

The industry reports further underscore the importance of green recruitment strategies. According to GreenBiz’s 2020 State of the Profession report, two-thirds of new hires in sustainability teams are external candidates. Interestingly, these individuals often secure their roles because of existing contacts within the company. One could argue that this network effect is due to the shared value of sustainability, creating a self-perpetuating cycle that draws in more eco-conscious individuals. By branding themselves in this manner, companies are drawing in candidates who can help drive their sustainability goals.

Finally, the compensation rates in the green sector are competitive. The report further shows that sustainability managers, directors, and vice presidents earn significantly above the average. This sends a clear message to job seekers – a career in sustainability is not only personally fulfilling and socially responsible, but also financially rewarding.

In conclusion, green recruitment represents a powerful tool for companies in India and worldwide. It enables organisations to not only help the environment but also to attract the best talent, making it a win-win strategy in the contemporary business world.

As the digital revolution continues to break down geographical barriers, the gig economy is reaching unprecedented global heights. Freelancers now have the opportunity to work across borders, bringing their expertise to projects worldwide. However, the international landscape of freelancing presents its own unique set of opportunities and challenges.

A report by 99Firms suggests that there are an estimated 1.1 billion freelancers worldwide, making up about 35% of the total global workforce as of 2021. The United States currently leads the global gig economy, with 57 million people engaged in freelance work. Additionally, the report further suggested that countries like India, Indonesia, Australia, and Brazil are experiencing rapid growth in their gig economies.

Freelancing across borders opens up a wealth of opportunities for gig workers. They can broaden their professional network, diversify their portfolio, and increase their earning potential by tapping into international markets. Moreover, they can expose themselves to different cultures and ways of working, leading to personal growth and adaptability.

However, freelancers must also navigate various challenges when working internationally. The legal considerations are manifold, including understanding international tax obligations, immigration laws, income tax, social security, and employment rights. It’s vital for freelancers to do their due diligence and ensure they’re compliant with the laws of the countries they’re working with.

Alongside legal hurdles, freelancers often face payment-related issues. Dealing with foreign currencies, fluctuating exchange rates, and international payment platforms can be complex and sometimes costly.

Cultural adaptation is another critical aspect of freelancing across borders. Understanding and respecting the cultures of the countries you work with can enhance business relationships and foster successful collaboration. This could involve learning about different communication styles, business etiquettes, and work ethics.

Lastly, time zone differences can pose a significant challenge. Coordinating with clients or teams across various time zones requires careful planning and can often lead to unconventional working hours, potentially affecting work-life balance.

Despite the challenges, the global gig economy presents an exciting frontier for freelancers. By arming themselves with the right knowledge and resources, gig workers can tap into the vast opportunities that come with freelancing across borders.

In conclusion, the rise of the gig economy and freelancing is a global phenomenon that’s transforming the way we work. As this trend continues to evolve, it will continue to shape our understanding of work, life, and the delicate balance between the two.

Navigating talent sourcing in the gig economy, particularly attracting and retaining freelancers, has become a prime focus in today’s dynamic employment landscape. As an increasing number of professionals favour project-based roles and flexible work setups, businesses and HR leaders are compelled to adapt their strategies. These shifts have transformed the once geographically constrained talent hunt into a global pursuit for specialised freelancers, emphasising the urgent need for innovative approaches in a competitive market.

Companies are no longer restricted to hiring talent from specific locations. Now they can tap into a global network of freelancers boasting specialised skills and unique insights. This transformation demands innovative strategies to attract and retain top-notch freelance talent in a fiercely competitive market.

Embrace Flexible Work Arrangements: Flexibility is the lifeblood of the gig economy. By offering adaptable work setups, such as remote work or flexible hours, companies can appeal to freelancers who cherish work-life balance.

Deliver Competitive Compensation Packages: Although freelancers might not enjoy traditional employee benefits, it’s crucial to provide enticing compensation packages. These can comprise equitable pay, timely payment terms, and extra incentives for outstanding performance.

Cultivate Learning and Development Opportunities: Like all professionals, freelancers are eager to hone their skills and advance their careers. Offering growth opportunities can be a powerful magnet for freelancers.

Create a Collaborative Work Environment: Even if freelancers aren’t physically present in the office, fostering an inclusive and cooperative work atmosphere can make them feel like valued team members. This can be achieved by involving them in relevant meetings, offering feedback, and recognising their contributions.

Prioritise Transparent Communication: Clear and open communication is essential for building trust with freelancers. Establishing explicit expectations about work scope, deadlines, and payment terms from the outset is vital.

The gig economy’s rise is undeniably reshaping how companies source and retain talent. By adopting these strategies, businesses can harness the advantages of the gig economy and assemble a resilient, diverse talent pool.

With the rise of faster internet connectivity, India is witnessing a new industrial trend – the rise of the gig economy. The gig economy is a marketplace where organisations contract with independent workers for short-term engagements, often facilitated by digital platforms. According to a report by NITI Aayog, it is estimated that India has 7.7 million gig workers as of 2021, and this is expected to expand to a staggering 23.5 million by 2029-30.

What’s interesting is that India’s gig economy isn’t just a playground for low-skilled jobs. It’s a diverse landscape where all skill levels thrive. As per NITI Aayog, low-skilled gigs make up 31%, medium-skilled ones claim 47%, while high-skilled gigs stand at 22%. Medium-skilled gigs are seeing a slight dip, but the graph for low and high-skilled gigs is on the rise.

The gig economy’s charm lies in its flexibility. It offers workers the freedom to choose their working hours, providing an ideal work-life balance. Moreover, the ability to work from virtually anywhere unlocks a universe of opportunities unheard of in traditional job setups. For businesses, it’s a goldmine of diverse talents for specific tasks without the need for full-time hires.

However, the gig economy isn’t without its drawbacks. Gig workers often struggle with job insecurity and a lack of standard benefits like health insurance, retirement plans, and paid leave – the hallmarks of permanent employment. Additionally, the constant hunt for the next gig can result in stress and anxiety.

With its myriad opportunities for both workers and businesses, the gig economy is a force to reckon with. It is essential to address the challenges it poses to ensure a better future for all. As this dynamic economy continues to evolve, it promises to redefine India’s labour market in the coming years.

The pandemic has urged businesses to reconsider their practices, prompting CHROs to prioritise mental health, flexibility, and work-life balance in order to attract and retain talent. Adapting to emerging trends and focusing on employee well-being has become essential in addressing the evolving needs of the post-pandemic workforce.

Nirupama V.G. Founder and Managing Director, Ad Astra Consultant says, “I’ve seen firsthand how the pandemic has accelerated the need for organisations to adapt to new trends and prioritise employee well-being. I believe that CHROs must remain agile and proactive to navigate the ever-evolving workforce.”

Key Future Work Trends for 2023

Work trends for 2023 include innovative hiring methods, flexible work options, non-traditional talent sourcing, managerial support, and addressing the lingering effects of the pandemic. Other aspects include diversity, equity, inclusion, employee data privacy. Additionally, tackling bias in recruitment technology and filling skills gaps will play a significant role in the evolving workplace.

Embracing Flexibility as the New Standard

The pandemic has fast-tracked the adoption of flexible work arrangements. In this regard, CHROs must embrace this change and develop policies that permit flexible working hours, remote work options, and other accommodations for employees’ unique circumstances.

Work-Life Balance: The Retention Secret

A healthy work-life balance is crucial for employee satisfaction and retention. Overworking and burnout can result in reduced productivity. CHROs should enforce policies that encourage disconnecting from work and taking sufficient time off. Examples include mandatory time off, “no email” weekends, and promoting the use of personal and vacation days.

Employee Well-being for Organisational Success

Employee well-being directly influences performance and satisfaction at work. CHROs need to ensure access to resources and support systems, including comprehensive wellness programs, mental health resources, and fostering a positive, empathetic, and inclusive company culture.

Mental Health Awareness: A Vital Component

The pandemic has underscored the importance of mental health in the workplace as employees have faced unparalleled stress, anxiety, and isolation. CHROs must prioritise mental health awareness and support, making sure that employees feel at ease discussing their needs and seeking help when required. This may involve training for managers, regular check-ins, and access to professional counselling services.

Adapting to the Post-Pandemic Workforce

CHROs must stay ahead by implementing effective strategies addressing both short-term and long-term challenges, focusing on immediate pandemic-related concerns and anticipating future developments and their potential impact on employees and the organisation.

Investing in Employee Development and Upskilling

As the workplace evolves, the demand for new skills and expertise will grow. CHROs must equip employees with tools and resources to stay relevant and adapt to changing job requirements through training programs, mentorship opportunities, and access to online learning platforms.

Fostering a Culture of Innovation and Adaptability

Encouraging employees to think creatively, take calculated risks, and embrace change will help organisations remain agile and competitive. This includes implementing open feedback channels, promoting cross-functional collaboration, and celebrating successes and learnings. .

In conclusion, CHROs need to constantly watch and assess policy and strategy effectiveness. They should collect data on employee satisfaction, engagement, and well-being. Additionally, they must analyse how different initiatives affect the organisation’s overall performance. By staying informed and data-driven, CHROs can make improved decisions and refine their approach to best meet the needs of their employees and the organisation.

Artificial intelligence (AI) has had a significant impact on the recruitment industry, particularly in candidate assessment. Traditional methods, such as manual resume screening and initial phone interviews are time-consuming and prone to unconscious biases. In response, AI-powered candidate assessment tools have emerged, using algorithms to analyse data from various sources like resumes, social media accounts, and digital portfolios. This approach allows recruiters to quickly and objectively identify candidates with suitable skills and credentials for a particular position.

AI-led candidate assessment not only saves time and resources but also reduces the effects of unconscious biases, leading to more diverse and inclusive candidate pools. This, in turn, promotes fair evaluations and the formation of diverse teams that enhance corporate success. Recruiters can prioritise specific qualifications, skills, and backgrounds, shortlisting candidates most likely to excel in a given role. This targeted approach to evaluation allows for data-driven hiring decisions, lowering the risk of making poor recruits and raising the standard of the workforce as a whole.

However, ensuring that AI algorithms remain impartial while keeping up with shifting market trends and skill requirements is a challenge. Striking a balance between automation and human intuition is crucial, as using human judgement to assess a candidate’s cultural fit and other intangible qualities remains vital.

In conclusion, AI-led candidate assessment is transforming the hiring process by enabling a more effective and unbiased method of evaluating candidates. As organisations continue to embrace technological progress, adopting such instruments will be fundamental in maintaining competitiveness in the quest for exceptional talent.

In today’s fast-paced business world, organisations are always seeking ways to improve their operations. The rise of AI chatbots like ChatGPT has given them plenty of room for innovation in recruitment. However, it’s crucial to remember the importance of human interaction in the hiring process. 

AI-led solutions such as applicant tracking systems and automated interview scheduling have streamlined the process. Human intuition and personalised interactions still play a vital role in creating a positive candidate experience. By using AI to handle repetitive tasks and data analysis, recruiters can focus on nurturing significant relationships with candidates. This approach highlights that AI can serve as a valuable tool to enhance human efforts rather than replace human recruiters.

To maintain personal connections while using AI, recruiters can combine automated and personalised communication throughout the candidate journey. For instance, AI chatbots can effectively answer frequently asked questions, but recruiters should personally engage with candidates for more complex inquiries and discussions about company culture and values. This approach ensures that candidates feel heard and valued, rather than just feeling like another data point in the system.

Face-to-face or video interviews are still essential for assessing a candidate’s personality, cultural fit, and soft skills. AI can help identify top candidates through data-driven analysis, but the final decision should involve human interaction to ensure that the candidate’s qualities align with the company’s needs and vision.

AI and automation have the potential to transform the industry, but human connection remains essential for creating a meaningful and effective hiring process. By leveraging the strengths of AI-driven tools and merging them with the warmth of personal interaction, recruiters can craft a powerful, effective process that attracts and retains the best talent.

AI-driven blind recruitment is transforming the world of hiring, enabling a focus on skills and qualifications, reducing biases and fostering diversity in the process. This approach anonymises applicant data, removes identifying details, and eliminates unconscious biases during evaluation. The result is a more diverse, creative, and effective workforce, with top talent discovered that might have been overlooked previously.

However, there are challenges to fully benefiting from the potential of AI-driven blind recruitment. The risk of algorithmic bias is a significant concern, unintentionally promoting existing biases rather than reducing discrimination. To address this issue, businesses must proactively monitor and refine their AI tools to ensure a fair and transparent hiring process.

A careful balance must be maintained between automation and human intuition. While technology plays a vital role in reducing unconscious bias, human judgement remains essential for evaluating a candidate’s cultural fit, soft skills, and other intangible qualities contributing to their potential success.

The rise of technology has influenced how companies approach training and education. As the need for professionals adept in machine learning and data analysis is growing, businesses are looking for people who can work with such models and think creatively to develop applications. 

To embrace AI-driven blind hiring, businesses must maintain this balance and continuously monitor algorithms for fairness. With a more diverse and inclusive workforce, companies can leverage technology as a tool to improve their strategies.

In summary, AI-driven blind recruitment is essential for creating a diverse and inclusive workforce. Businesses can benefit by focusing on skills and qualifications, reducing biases, fostering diversity, and continuously monitoring algorithms.

The use of AI chatbots in recruitment has brought about significant changes to the industry, transforming the way organisations interact with job seekers and reshaping their experience. AI-driven tools have become a game-changer for both recruiters and candidates, streamlining processes, and creating new opportunities.

The chatbots have simplified the recruitment landscape by automating mundane tasks such as responding to candidate inquiries in real-time. This allows recruiters to devote more time to building meaningful relationships. 

The emergence of AI chatbots has opened up new opportunities for the hiring industry, particularly in the fields of machine learning and natural language processing. The growing demand for experts capable of designing, training, and analysing such models, as well as those who can apply chatbots in this field, is influencing the industry.

Improved communication between candidates and organisations is another way AI chatbots are influencing the sector. By bridging language barriers, these tools help create a more inclusive and diverse process. Furthermore, real-time support from chatbots results in more efficient and seamless communication, ultimately elevating the candidate experience.

However, it’s crucial to find the right balance between AI-driven communication and human connection to preserve a positive candidate experience. Overly automated processes might result in impersonal encounters, which can drive away potential employees from firms. 

As these chatbots become more prevalent, job seekers and professionals must develop skills in natural language processing, communication, and critical thinking. Embracing these tools and comprehending their potential is crucial for adapting to the ever-evolving landscape.

Leveraging such tools while maintaining a balance with human interaction is crucial for organisations to maintain an engaging and efficient process. As the industry continues to evolve, staying ahead of the curve with AI chatbots is critical to remain competitive and attract top talent.

The world is evolving at an unprecedented pace, and technology is at the forefront of this transformation. Artificial intelligence (AI) is one such technology that has taken the world by storm, and it is transforming the way we work, live and communicate. With AI-led tools, we just need to embrace technology, and it’s an exciting time for us to be alive.

AI-led tools like ChatGPT have the potential to revolutionise various industries, including healthcare, finance, and retail. For instance, in healthcare, it can analyse patient data and identify patterns that help doctors make more accurate diagnoses and treatment plans. In retail, it can analyse customer data and provide personalised recommendations, enhancing the customer experience. In finance, AI-powered systems can analyse vast amounts of financial data to detect fraud and make more informed investment decisions.

One of the significant advantages of AI-led tools is their ability to process and analyse massive amounts of data in real-time. This means that they can quickly identify patterns and trends in data that would be impossible for humans to identify. This is particularly useful in industries such as healthcare and finance, where data analysis is critical for making informed decisions.

Another advantage of these tools is that they can work around the clock, providing 24/7 service without the need for breaks or downtime. This means that businesses can provide round-the-clock customer support, reducing response times and enhancing the customer experience.

It’s an exciting time to be alive because AI-led tools are constantly evolving and improving. As technology continues to advance, they will become even more sophisticated and capable, opening up new possibilities for businesses and individuals.

However, it’s crucial to remember that AI-led tools are only as good as the data they are trained on. It’s essential to ensure that the data used to train these systems is unbiased and representative of the population it’s intended to serve. It’s also crucial to ensure that the use of such tools is ethical and complies with relevant laws and regulations.

The AI chatbot i.e. ChatGPT has caused organisations to wonder how to use it to improve day-to-day operations, and it’s caused Google, the website where around 90% of online search happens, to go all out with getting its own version of ChatGPT ready for users.

The AI-led tool continues to mesmerise those in Human Resources, not to mention everywhere else. It astonishes people with the ability to respond as a human or even better than a person would. In recent times, the HR sector has also progressed by leaps and bounds. It is much more than simply recruiting candidates. Like other industries, technology has taken the centre stage in HR, with HR tech becoming a mainstream vertical. And now, with ChatGPT, the HR tech space stands to benefit in numerous ways.

• Performance Management: With ChatGPT, HR professionals can assign functions like developing KRAs, training programs and creating templates to the tech tool and focus on employees’ career development. This makes performance management more efficient and easier, and more accurate.

• Recruitment: Given that ChatGPT can answer queries and respond comprehensively to user prompts, it can deliver huge value when integrated with the Applicant Tracking System (ATS). While ATS enables HR managers to post job openings on multiple portals, they still have to write descriptions manually. Chat GPT can automate this process and ATS can handle the candidate journey seamlessly. The AI-led tool can also handle candidates’ queries and personalise emails for outreach during the hiring process.

• Employee Engagement: Employee engagement is essential for productivity and retention in a company. ChatGPT’s content generation abilities can ensure effective engagement through shorter turnaround times and better approachability with quick responses from the HR team. Businesses can also integrate the technology with their existing chatbots to deliver a more personalised communication to employees.

While ChatGPT and other AI technologies are touted to improve the aspects of HR operations but the extent of transformation is yet to be discovered. One of the benefits of AI is that it does not have biases like humans do – unless of course, the human that is using ChatGPT prompts a bias-ridden instruction. Bias is all of our responsibility. As we move forward with this technology, it’s important to consider the ethical implications and make sure we are using AI responsibly.

As an AI language model, ChatGPT has taken the world by surprise while it continues to develop from the knowledge we feed it. The chatbot became a matter of controversy and debate instantly as we started comparing it to human intelligence and the fear of it overtaking jobs. Therefore, it is crucial to understand the substantial difference between human intelligence and ChatGPT.

First, human intelligence is a complex interplay of cognitive abilities like perception, memory, reasoning, and creativity. Humans have the ability to draw learning from their experiences and sensory-perceptual awareness of the external world on the other. In contrast, ChatGPT is a machine-learning model that is trained to mimic human communication and intelligence. The intelligence that chatbots like ChatGPT create is an abstraction of mind and knowledge, that is cut off from the primary human data of bodily feelings.

Secondly, human intelligence has the ability to problem-solve in situations that it has never encountered before. It holds the capacity to innovate and adapt to situational demands. On the other hand, ChatGPT operates within the limits of its programming and data set. While it can generate responses and can be trained for better performance, it cannot go beyond its set of programming.

Finally, the human brain is aware of itself. It holds the sensibility of self-awareness and introspection on past learnings, values, and beliefs to make decisions. ChatGPT lacks this understanding of self-existence.

In conclusion, while ChatGPT has made significant advances in natural language processing, it is still a machine learning model that operates within the limits of its programming and data set. It is in the development phase and relies on human intervention. It is worth noting that human creativity and capability have made such software possible. Human intelligence, on the other hand, is much more complex, encompassing a wide range of cognitive abilities, creativity, and subjective experiences. It’s safe to say that ChatGPT will need time to achieve a level of thinking and understanding that matches human capabilities.

Diversity, Equity, and Inclusion (DEI) are important considerations for businesses of all sizes, including large enterprises. With DEI becoming an important pillar of today’s workforce, Recruitment Process Outsourcing (RPO) plays a crucial role in improving DEI within organisations. It enhances the image of the organisation, provides inclusive job descriptions and advertising strategies, implements blind resume screening, builds diverse candidate pipelines, provides unconscious bias training, and provides DEI metrics and reporting.

Inclusive Job Descriptions and Advertising Strategies: RPO providers help organisations to develop inclusive job descriptions and advertising strategies that attract a diverse pool of candidates. By using inclusive language and highlighting the organisation’s commitment to DEI, RPO providers help to create a more welcoming and inclusive environment for a diverse set of candidates.

Blind Resume Screening: RPO providers can implement blind resume screening, where candidates’ names, gender, and other identifying information are removed from resumes, to reduce bias in the initial screening process. Minus human biases that might influence hiring, RPO providers can help to ensure that all candidates are considered on the basis of their qualifications, abilities, and experience.

Building Diverse Candidate Pipelines: RPO providers can help organisations to build diverse candidate pipelines by actively recruiting from underrepresented groups and communities. This can help to ensure that the organisation is able to consider a wide range of candidates irrespective of gender, race, religion, sexual orientation, age, or socio-economic background and increase the chances of hiring diverse talent, based only on job fitment.

Unconscious Bias Training: RPO providers can provide unconscious bias training to sensitise recruiters and hiring managers and help them identify and overcome their own biases in the recruitment process. This can help to ensure that all candidates are considered fairly and that the organisation is able to attract and retain diverse talent.

DEI Metrics and Reporting: RPO providers provide organisations with metrics and reporting on the diversity of their candidate pools and hires to help them track their progress and identify areas for improvement. This can help organisations to understand where they are succeeding in terms of DEI, and where they need to focus more effort in order to improve their record.

In conclusion, RPO can play an important role in supporting HR and TA leaders in improving DEI within organisations. RPO partners can study an organisation’s present DEI status and gap areas, analyse the results and help to overcome the conflicts. With their access to a considerable database of diverse candidates, RPO providers can help organisations attract, place, and retain diverse talent, thereby creating a more inclusive and equitable workplace. It’s important for organisations to evaluate the RPO providers and choose the one that aligns with their DEI strategy and is committed to promoting DEI throughout the recruitment process.

Most organisations, barring the huge players in the market, need not invest in sophisticated technologies such as Artificial Intelligence (AI) and Machine Learning (ML) to enhance the recruitment experience. This is because RPO providers are increasingly absorbing the cost by adopting these technologies to automate and streamline recruitment processes. In recent times, RPOs have almost completely assumed the responsibility for resume screening, culture fit screening, IQ & EQ testing, candidate matching, interview scheduling, candidate testing, and onboarding. This can help to improve efficiency and reduce the time it takes to fill open positions.

Video Interviews: More often than not, RPO providers are incorporating video interviews into their recruitment processes. Depending on the client and function, these can either be live interview sessions or pre-recorded ones. With job slots opening up in different, distant geographies, virtual interviews are here to stay. They are gaining popularity because they allow for more flexibility and efficiency, can help to reduce travel time and cost, and do not require the candidate to take too much time off from work for an interview. The time slots are fixed in advance and this works well for the recruiter as well as the candidate. Video interviews can also assess communication skills and comfort levels with new-age technologies. AI can be used to analyse a candidate’s facial expressions and body language to predict personality traits, honesty, and other intangible aspects of the recruitment process.

Mobile Recruiting: RPO providers are increasingly using mobile recruiting techniques to reach candidates, such as mobile-optimised career sites and text message recruiting. This allows for a more convenient, flexible, and efficient recruiting experience for candidates, and can help to attract top talent. Mobile as a recruitment platform works well because it can be managed from anywhere, without being dependent on a brick-and-mortar space. Tasks such as reaching out to a broader pool of resources, scheduling interviews, providing internal feedback, and communicating with the candidates can be managed remotely through handheld devices, even in the remotest of pin codes.

Employee Referral Programs: RPO providers are increasingly using employee referral programs as a way to identify and attract top talent, as referrals tend to be more reliable and have a higher retention rate. Enterprises are beginning to recognise that birds of the same feather tend to flock together, so candidates who have already been whetted by the company are likely to refer like-minded people, with the proper credentials to the organisation. These programs offer a two-pronged motivation – one being that a person who is familiar is joining the same company, and the other being the monetary incentive that the company gives the employee.

Talent communities: RPO providers are increasingly using talent communities to engage with and nurture potential candidates, giving them the opportunity to learn more about the company and stay engaged even if they are not actively seeking a job. These platforms share information about companies, their culture, their thought leadership, industry information, technology breakthroughs, etc. From engaging alumni to prospective candidates, talent communities fan the embers of interest even when there is no active recruitment in process.

Greater focus on diversity, equity, and inclusion: RPO providers are increasingly focusing on diversity, equity, and inclusion in their recruitment processes, recognising that these elements help foster a more inclusive and innovative environment, while also promoting a better candidate experience. It is in acknowledging all the dimensions of nationality, race, ethnicity, gender, socio-economic status, age, disability, sexual preferences, religious and political beliefs, or other ideologies; it is in the exploration of these differences and moving beyond simple tolerance, to embracing and celebrating the rich dimensions of diversity contained within each individual, that organisations stand tall. Employees with different characteristics, skills, and experiences bring to any organisation a whole new set of perspectives that can result in better camaraderie, innovativeness, and all-round wellness.