Businesses need to reinvent with a human focus, says Deloitte Human Capital report


BENGALURU: Organisations must reinvent themselves with a human focus into social enterprises, says a report from consulting organisation Deloitte.

According to the Global Human CapitalTrends survey, titled ‘Leading The Social Enterprise: Reinvent With A Human Focus’, the report provides actionable insights to businesses everywhere, and is based on responses from nearly 10,000 respondents in 119 countries including 225 HR professionals and business leaders who participated in the survey from India.

Across its three categories of future of workforce, future of organisations and future of HR, the report brings out 10 major trends on alternate workforce, redesign of jobs, leadership, employee experience, teams, rewards, accessing talent, learning, talent mobility and HR technology.

The survey finds that on all the trends, the importance the organisations give outstrips their readiness on them.

“The report not only confirms accelerating growth in the role of social enterprise but also supports the social enterprises’ positive link to financial performance. Increasingly, organisations need to focus on purpose – both at the organisational level, and the individual level. We need to reinvent our structures around creating a meaningful employee experience,” Gaurav Lahiri, partner and leader – human capital at Deloitte India, told ET.

For organisations within India, there are significant implications as they seek to drive stronger business results while focusing on skilling and reskilling large workforces, retaining employees through cutting-edge employee experience designs, winning the war for talent by acquiring and keeping top talent, and leveraging technology to solve for people issues. Paradigms around leadership are changing and overwhelming 93% respondents agree that 21st century leaders have unique and new requirements, which include managing the human-machine interface, dealing with more complexity and exerting a higher degree of influence.

A higher number of Indian organisations (45%) measure the correlation between employee engagement and productivity through various tools and surveys, as compared to global organisations (37%). However, the area that most needs focus is the creation of a positive work environment. Interestingly, a higher percentage of Indian companies (22%) as compared to global companies (19%) believe that they are industry leaders in terms of being social enterprises.