The forum expects to answer key questionsincluding:• Are organizations of the future going to be different than the organizations of the past and the present? If different, in what ways are they going to be different? What will be the characteristics of such organizations?• Future organisations are bound to face challenges including Uncertainty, Unpredictability, Ambiguity and Change: in such a scenario what would be the appropriate strategies for adaptive sustainability?• What appropriate competitive strategies can be developed and recommended for those specific characteristics?• How can future organisations be sustainable in terms of service to society, environmental protection, long term vision, products and services, concern for people, thus addressing the triple bottom
10 Ways the Next 10 Years Are Going ToBe Mind-Blowing• Bio Technology - Bionic Hand controlled by brain signals• Architecture - Revolving Tower in Dubai• Computer Speed, Size and Usability - chips will be assembled using individual atoms or molecules• Cars and Fuel - electric• How We Interact With the World - Goggles by Google• Energy - Solar• Health - custom-made organs• Success and Popularity Accessibility - internet is the perfect tool for capitalism, entrepreneurship, and dreaming• Robots - !!!• Clothing - would allow people to generate their own electrical current while walking
10 Great Career Fields for the FutureMedical FieldNurse Anesthetists, Nurse Practitioners, Physician AssistantsTechnology SectorSoftware Architects, Systems Engineers, Software Engineers, IT AnalystsFinancial ServicesAccountants, Actuaries, Financial AdvisorsEducation ArenaCollege Professors, Elementary School Teachers, High School TeachersTechnical JobsPhysical Therapist Assistants, Dental Hygienists, Veterinary Technicians
10 Great Career Fields for theFutureBusiness Services JobsEnvironment Health Specialists, Construction EstimatorSales JobsSales Managers, Sales Executive, Senior Sales ProfessionalConsulting JobsManagement Consultants, Healthcare ConsultantsEngineering JobsProject Engineer, Civil Engineer, Structural Engineer, Environmental Engineer,Biomedical EngineerMiddle Management JobsResearch and Development Manager, Product Manager, Risk ManagementManager
Strategies for developingHuman Capital
Human capital• Human capital is the stock of competencies, knowledge, social and personality attributes, including creativity, embodied in the ability to perform work so as to produce economic value.• Human Capital Development is a must need effort that must be taken forward by organizations to increase the technical skills, creativity and innovation to drive the knowledge-based economy.• Few Demands that todays workforce face – – Acquiring and retaining new customers – Generating new ideas – Improving productivity
Human Capital Uncertainties Human capital related critical uncertainties Regional Competition for talent Global Heavy Regulatory constraints in HR management Light Low Adoption of online HR services High Cost cutting Organizational priorities Growth Networked Traditional and Dominant type of organizational structure or Virtual hierarchical Top - Down Innovation and change Bottom - Up
Human capital strategy• It is a must need today for Executives to pursue a more comprehensive and integrated human capital strategy that includes – Talent Management – Leadership Qualities – Cultural Values – Organization ComponentsThis helps multiply the value of talent and help create an enterprisethat is able to execute business strategy and adapt to a changingmarket. ― Those who can effectively translate their business strategy into an actionable human capital strategy can drive a new kind of competitive advantage—one extremely difficult for others to imitate. ―
Linking business strategy to human capitalrequirement WHAT IS MISSING ??? 1. A strong programHR is responsible for 2. An approach led from theacquiring, developing topand deploying the 3. Visualize human capitalpeople needed for an dimension of a business atsuccessful organization the strategic levelbut yet many HRDepartments struggle tohave a deep enoughunderstanding on how totranslate the businessgoals into specificworkforce and
Devising a Human capital strategy will link businessstrategy to HR strategy ,Hence bridging the gap The business strategy defines the direction, positioning, scope , BUSINESS STRATEGY objective and competitive differentiation ENABLES SHAPES Human capital strategy defines the talent, leadership , culture and HUMAN CAPITAL organization to execute the STRATEGY business strategy ENABLES SHAPES The HR strategy articulates the strategic direction and imperatives of the HR organization and builds HR STRATEGY out capabilities required to align to the human capital strategy
Advantages of an effectives human capitalstrategy –1. Helps the organization to put in place the right leaders to source, develop and direct the right workforce talent, supported by the right culture, organization and operating model2. Working in the human capital dimension underpins many of the company’s most important decisions about where and how to compete3. Helps support the organization as it balances short-term decisions with longer-term imperatives.4. supports the organization in meeting today’s urgent needs while also helping it become agile enough to reposition itself for ongoing market competitiveness and growth ― For a human capital strategy to be truly robust, it must not only consider the strategy of today but also its potential evolution in the future. ―
Creating and implementing a human capitalstrategy• Human capital strategy work under four main streams – 1. Talent Management Competency Planning Gap Analysis 2. Leadership Qualities Learning Plan Self-Directed Learning Training Sessions Action and Reflective learning 3. Cultural Values Stories Rituals Language Material Symbols 4. Organization Component Organization Design Operating Model
Talent Management• In order to execute the business strategy to its best we need. – Competency assessment – Workforce planning – Gap AnalysisIf properly designed and executed, programs within thetalent work stream of the human capital, strategy cansignificantly contribute to a company’s ability to attain itsbusiness goals, and to attract, motivate and retain theright people.
First step – CompetencyTalent Management assessment Review organizationsSecond step - business strategy andWorkforce planning determine the capabilities and• Determine the competencies required by theworkforce supply that the Competency workforce assessment Workforceorganization needs planning Understand the impact that•Determine the no. of the business strategy willemployees required for Gap analysis have on the workforce.each type of Job (now Innovate new ideas andand also for the future) approaches towards recruiting and hiring employees. TALENTThird step – Gap Analysis-analyze any potential gap between existing workforce competencies and thoseneeded to execute the business strategy going forward-Provide training to the employees who have little variance in competencies in orderto fill in the gap.-Try repositioning workforce to areas in which their competencies match therequirement of the job.-Terminate dead woods who prevent the organization from moving towards itsbusiness strategy.
Leadership Qualities• Organizations need leaders who can – – rally the workforce when there is a challenge, – Confront them when they are mired in the status quo, – calm them when the seas are rough, and – propel them into action when there is a crisis.• The leadership development aspects of an organization’s human capital strategy focus on several key questions: – What is the specific value add beyond their official job titles? – What attributes, capabilities and behaviors are expected from future leaders? – How can organizations use leadership development as a competitive advantage?Once these key questions are answered we must put in place aleadership development program that is closely tied to the needs ofthe business strategy and the shifting marketplace. “A leader is someone whom others will follow to a place they would normally not go on their own".
The leaderships development program must focus on the following areas –Training sessions interspersed Using the needs and assessmentthroughout the program in addition to results , facilitate a Leadershipself-directed learning, so as to guide learning programthe leadership development process. Leader Training Learning Sessions plan Action & Self Reflective directed Learning LearningConduct of orientation sessions for theleadership team Facilitation of self-directed learningSupport the team to research solutions to projects to build the competencies mostthe challenges and enable the team to needed by the leader.report its results to the senior management projects may include case studies,during the end of the program. shadowing, executive interviews, reading,Self awareness journal. specific skill development, behaviourshare the findings with the leadership team. change activities, etc.
Culture Values• The basic pattern of shared assumptions , values and beliefs considered to be correct way of thinking about and acting on problems and opportunities facing the organizations.• It is the philosophy that guides the organization’s policy towards employees and customers.• Todays senior Leaders believe –• business strategies stand little chance of being adopted and executed if the current culture of their company impedes the ability to accommodate change and support the business ―vision. Clarifying the value system and breathing life into it are the greatest contributions a leader can make. Moreover, thats whatthe top people in excellent companies seem to worry about most ― – Peters and Waterman
Elements of organization culture Individual initiative Conflict tolerance Risk tolerance Communication Reward system pattern identity integration Management control support
How to create , sustain and transmitculture ??- How it begins - founders!!- How to keep it alive – Selection practices, Top Management and socializing- How do employees learn the culture - Stories , rituals, language, material symbols Cultural alignment with business strategyIf Aligned – If Not Aligned –Executives must help reinforce Specific programs must be put inthose attributes that support the place to influence the culture andexecution of the business strategy push it in the right direction.
Factors Influencing cultureFactors that support Changes in Factors that are against changes inculture cultureForeign competition Employees become committed to themChanges in Govt. regulations Written statements about mission and philosophyRapid economic shifts Design of physical spaces and buildingChange in stories , rituals, material Dominant leadership patternsymbols, languageNew technologies Past selection practices Organizations formal structure Popular stories about key people and event
An ideal organization culture1. Equal opportunities for employees2. No discrimination in terms of reward or punishment3. Understanding the individual as a person4. Standing by employees in time of crisis5. Not bending organizational rules but allowing room for flexibility and humaneness.6. Allowing true delegation of responsibility or authority7. Changing roles and responsibilities appropriately.
Organization Components Organization Organization Design + Operating Model Effective job Employee Performance sourcing Leadership Development Culture
Organization Design• A formal, guided process for integrating the people, information and technology of an organization.• Used to match the form of the organization as closely as possible to the purpose(s) the organization seeks to achieve• Through the design process, organizations act to improve the probability that the collective efforts of members will be successful.
Organization structures• Hierarchical Structure Vs Organic Structure Characteristics Hierarchical structure Organic structure Complexity High – with lots of horizontal Usually lower – less separation into functions, differentiation or functional departments and divisions separation Formality High – lots of well defined lines of Lower – no real hierarchy and control and responsibility less formal division of responsibilities Participation Low – employees lower down the Higher participation – lower organization have little involvement level employees have more with decision making influence on decision makers communication Downward – information starts at Lateral, upward, and downward the top and trickles down to communication – information employees flows through the organization with fewer barriers Its worth saying that one type of structure is not intrinsically better than another. Rather, its important to make sure that the organization design is fit for organizations purpose and for the people within it.
Organization structure ORGANIZATION STRUCTURE Often found in small Hierarchical Organic businesses, the simple structure structure organization structure is flat. It may have only two or three levels; employees tend to work as a large team with everyonefunctions Simple reporting to one person.(accounting, structuremarketing, HR etc) people typically have twoare quite separate; Functional or more lines of report. Foreach led by a senior structure example, a matrix`executive who Matrix organization may combinereports to the CEO. both functional andthe company is structure divisional lines oforganized by office responsibilityor customerlocation. Each Often known as a leandivision is Divisional Network structure, this type ofautonomous and structure structure organization has central,has a divisional core functions that operatemanager who the strategic business. Itreports to the outsources or subcontractscompany CEO. non-core functions
Key points and Advantages• Key points in design of Organization structure – – Strategy – The organization design must support the strategy. – Size – The design must take into account the size of the organization. – Environment – If the market environment one works in (customers, suppliers, regulators, etc.) is unpredictable or volatile, then the organization needs to be flexible enough to react to this. – Controls – What level of control is right for the business? – Incentives – Incentives and rewards must be aligned with the businesss strategy and purpose.• Advantages – – Streamline Operation – Improve Decision Making – Operate Multiple Locations – Improve Employee Performance – Focus on Customer Service &Sales
Operating Model – Bridge between businessstrategy and organization DesignThe operating model shows how the strategy and structure of theorganization is executed. The operating model must be purposefullyreshaped in order for an organization to be effective. Detailed organization Strategy and heritage Operating model design --Detailed structure and specific decision roles -Where to play, including -Company – wide clarity category brand and on priorities and geographic priorities principles -How to win, including -Where and how the -Processes, information repeatable routines and most critical work is done flows, technology, tools. non-negotiabes -Detailed metrics and -Company culture and feedback loops values to be preserved -Talent system and and cultivated incentives. -Cultural reinforcements
Components of Operating Models Meeting Schedule and Design Organization structure •What people and topics should be included in •Organization units and boundaries regular meetings? •Matrix groups and alignments (functional, •What are the roles in meetings? geographic) •What general norms will be followed to make •Levels and spans meetings effective? Decision Rights Programs and Services •What are the most important decisions and how will they be made?What programs are common and unique •What are the roles in the decision-makingto units? Operating process? (e.g., inform, consult, approve,How is client contact conducted? Model etc.)What is the standard of service levels? •How will decisions be evaluated? Roles and Boundaries Goal Setting and Measurement What are the boundaries of each unit and what are the •What are the shared measures for common goals? shared tasks? •How are individual and team goals (levels) set? What information should be available across •What benchmarks will be used? boundaries? Who has responsibility for various tasks? Are there any special boundary spanning roles?
Conclusion• Today, there has been a drastic difference in the focus of professionals to train and retrain their skill-set through higher education.• In fact, when the going gets rough, its time for business to train and develop their human resource capital, so that once the darker nights are over, the sunrise is glorious.• All this said, The competition in every industry is shifting in a very drastic manner, Will Organizations be able to innovate and execute strategies that can catch up to the shift in the marketplace?? The answer to that question will solely depend on the organizations investment towards human capital assets. Sourcing and retaining top talents in the exact needful numbers and in the exact needful place in our organization will be the key to the equation. Along with this equally important are the leadership quality, cultural characteristics and organization structure that would enable our workforce talent to help our company as a whole to achieve high performance