Human Resources (HR) leaders are the key architects of organizational excellence. They nurture and support the workforce, and spearhead projects and policies that enhance the value and competitiveness of the company.
Harshvendra Soin, Global Chief People Officer and Head Marketing, Tech Mahindra, in an interaction with ET Edge Insights, shares the expectations and changes in talent management over the years.
Soin speaks about why talent prefers working for purpose-driven companies, and how his company is using technology and data to enable physical and mental wellness, reduce attrition, and upskill employees. He stresses that HR leaders should understand and lead the business Edited excerpts:
Q. What are the expectations that you have around talent and what has changed over the last few years?
Like other sectors, we have our own set of challenges. However, post the pandemic, talent is looking at different things.
One is the focus on hybrid work. And hybrid is not only about working from some place but also about when you want to work and how you want to work.
The other focus for talent is on holistic well-being. People want to work for companies that focus on holistic wellness.
The third change or priority that has come to the forefront is that people want to join companies with a purpose.
Earlier, brands used to attract talent. Today, it is people choosing brands. They are looking at companies that truly care for them and help them grow individually in terms of personalization of career and compensation plans.
Q. How are you making effective use of data?
We don’t just collect data; we use it to derive value and create an impact. There is a lot of “critical to watch” data that reaches my table each day.
It helps us monitor and improve our performance. We use data to predict and prevent problems, not just react to them. For instance, let’s take an example of attrition. Tech Mahindra has the lowest attrition in its peer set. We use data to understand and address the needs and concerns of our employees. We use data to be proactive and responsive, not passive and indifferent.
We have a facial recognition system that can detect eight emotions. This system is GDPR compliant, so we don’t know who the person is, but we can know how they feel in a certain location. This data can alert me if something is wrong in a specific place, for example, if we missed a local or regional holiday, etc.
Another example of data in action is upskilling. At Tech Mahindra, we don’t measure the training hours. We measure the outcomes. We use data to see how many people got upskilled and placed at a higher segment with a customer. That’s what matters. Data is the basis of every decision we make in HR. The effectiveness of an HR professional depends on how they can leverage data wisely and make data-driven decisions.
Q. Is too much data a cause of concern?
Yes, it is. The real battle is not in generating data, the real win is in using data effectively. Data needs to lead us to actionable outcomes.
I will give another example. Covid made us rethink our hiring and induction process. Our data revealed that hiring and induction physically were not effective. We quickly switched to a Metaverse-based model. We can now conduct hundreds of interviews simultaneously, welcome new hires from anywhere in the world with realistic and engaging experience, and we keep using this method.
Q. Are you evaluating ChatGPT?
We don’t have a choice. We have created instances of training and induction using the model.
Q. What are the challenges and opportunities for HR leaders?
In the IT industry, the HR or people cost is over 50%. The first thing is how one manages costs proactively to help the company grow. I don’t mean cost in terms of a number, but in terms of percentage, and how does one ensure that the business is propelled forward by optimizing this cost.
The second challenge is around culture. Many people wonder, “How do you keep your attrition rate low? What is the secret?” Well, there is no secret. We have a robust culture that is built and maintained on values and philosophy. The challenge for HR is to make this culture tangible and attractive for the employees.
Lastly, it is crucial for HR leaders to comprehend and drive business. While HR leaders are partners/collaborators to the business, I think it is time for HR leaders to take charge of the business. In the IT sector, our business is people. But even in other sectors like manufacturing, retail, etc., HR needs to immerse itself in the business.
