AI is revolutionising human capital strategy optimisation
Technology

AI is revolutionising human capital strategy optimisation

The HR professional's passion for her job shines through when she says, "Sometimes you choose your journey and it becomes your passion and that’s how I started my HR journey. So far it has been interesting, learning through diversified cultures and industries. Every organisation and role has made ...

The HR professional's passion for her job shines through when she says, Sometimes you choose your journey and it becomes your passion and that’s how I started my HR journey. So far it has been interesting, learning through diversified cultures and industries. Every organisation and role has made me learn more about myself and the people we work with. Socomec has its own unique value driven culture and we are all set to evolve to take up a larger market share. So it is enthralling for me to drive the people and culture vision for a Greater India. What are the current best practices in induction policies? Effective onboarding is paramount for integrating new team members. Our onboarding processes are constantly evolving to meet the needs of our growing organisation. Prior to the official start date, our pre-onboarding activities ensure a warm welcome and provide essential guidance through HR support. Each new hire is paired with a dedicated buddy and receives ongoing mentorship from their manager, facilitating a seamless integration into our team. A detailed integration plan is crafted for every new member, outlining introductions to relevant teams and functions. Internally and externally, we celebrate new additions through social media announcements. This ensures that every new hire receives inclusion within our systems and across our network of colleagues. Tell us about upskilling initiatives undertaken by the company. At Socomec, our commitment to upskilling and reskilling is rooted in the belief that investing in our people drives sustainable results. Here's a glimpse into our initiatives: Leadership development: For managers assuming senior positions, we offer specialised programmes such as the Group Manager Programme, Senior Leadership Development Programmes and Socomec Executive Enrichment Development. These initiatives focus on honing leadership capabilities essential for driving organisational growth and excellence. Soft skills training programmes: We provide comprehensive internal and external soft skills training programmes to enhance communication, teamwork, leadership and interpersonal skills. These programmes are curated to address specific needs and may include courses for different career paths. Technical skills enhancement: Our induction programme is designed to equip employees with a deep understanding of our products, ensuring they are well-prepared to contribute effectively from Day 1. Socomec Academy: Our internal online learning platform, Socomec Academy, offers a diverse range of courses and modules covering various subjects relevant to our industry. LinkedIn Learning: As part of our external learning resources, employees have access to LinkedIn Learning, a platform offering a vast library of courses. While not mandatory, our curated courses provide a broader spectrum of development opportunities. Internal training: We conduct regular instructor-led training encompassing technical, process and behavioural aspects to reinforce core competencies and cultivate a culture of continuous improvement. Depending on organisational needs, global teams may periodically lead specialised training sessions to ensure alignment and consistency across locations. What current trends are reshaping the HR sector? Artificial intelligence (AI) is taking over the world and HR is no exception. AI is evolving rapidly, analysing qualitative HR data and enabling informed decision-making backed by data-driven insights. It is transforming various HR functions such as talent acquisition, employee onboarding, performance management, employee engagement and satisfaction, and predictive analytics for attrition and retention. This integration of AI into HR processes is revolutionising how organisations manage their workforce and optimise human capital strategies. Another trend we are observing is data-driven decision-making in HR, which involves using data and analytics to inform and improve various aspects of human resource management. By collecting and analysing performance data, HR professionals can identify high-performing employees, as well as areas where additional training or support may be needed. Data-driven insights can help tailor development plans to individual employees' strengths and weaknesses, maximising their potential and contributing to overall organisational success. Data analytics can also assist HR in determining competitive salary ranges and benefits packages based on industry benchmarks and employee preferences. By analysing compensation data, HR can ensure that the organisation remains competitive in attracting and retaining top talent. Lately, we have been observing how multinational and Indian companies are switching to hybrid working styles, which has shown an increase in employee productivity and flexibility. Diversity, equity and inclusion (DE&I) in HR demonstrates a holistic approach that addresses systemic barriers, promotes cultural awareness and competence, and fosters a sense of belonging for all employees, creating a more innovative, resilient and engaged work environment. How can HR policies contribute to India's growth potential? Organisations can foster success by aligning systems, policies, processes and people management practices to maintain relevance and a forward-thinking approach. The advent of creative AI represents just the beginning of a technological revolution. This transformation will impact the workplace in ways that may seem magical today but will soon become integral to our lives. Implementing policies that prioritise skill development, including promoting vocational training programmes, upskilling and reskilling initiatives and forming partnerships with educational institutions and stakeholders, will ensure that the workforce is equipped with the necessary skills for emerging industries and technologies. By leveraging HR policies effectively, India can unlock its full growth potential by nurturing talent and creating a conducive environment for business and economic development. What measures has your company implemented for talent retention? At Socomec, talent retention is not just about individual efforts but a comprehensive set of initiatives and a nurturing organisational culture. We are committed to fostering an open and agile culture that promotes human connection and enhances engagement among our teams. Our retention initiatives include various programmes such as long-term and short-term incentive policies, SPOT awards for exceptional performance, role enhancement opportunities, mobility options within the country and abroad, exposure to cross-functional projects locally and globally, upskilling through online and offline training, employee engagement surveys, and project-based one-on-one mentoring with top management. These initiatives are established and actively run across our organisation, reflecting our dedication to supporting and retaining talented individuals while fostering a dynamic and rewarding work environment.

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