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Learning Investments: Making Workforce Future Ready
Infosys BPO NHRD - 1st National Summit on Compensation & RewardsTheme – Learning Investments: Making Workforce Future Ready 1
Safe Harbor Certain statements made in this Meet concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in the industry including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed- price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. All the statements made in this presentation are the views and opinions of the speaker and is in no way a representation of the views of the organization.
The shift to services is unstoppable… Employee cost as % of revenue Services Manufacturing/ traditional Revenue per employee Sectoral composition of GDP Source: Union budget & Economic survey, State of the Economy & Prospects
…But the skills required for services sector is bleak Entry Skills required: Skills provided by education: - Communication - Learning by rote - Customer orientation - Rule based problem solving - Analytical skills - Collaboration - Coaching & mentoring - Energizing teams Sectoral composition of GDP Source: Union budget & Economic survey, State of the Economy & Prospects
Learning & Development Imperative…“Too many education institutes have not kept abreast with the rapid changes that have taken place in the world around us in recent years, still producing graduates in subjects that the job market no longer requires”… Prime Minister of India, Dr Manmohan Singh• Canada, Botswana, UK, US, Sri Lanka, India… all decry education system’s relevance to job market• Graduates produced are unemployable, requiring us to spend precious time and resources on training them even in basic skills… Corporate recruiters 5
Not just in India…% of employers facing difficulty filling jobs “While today’s youth are the most educated generation in history, they comprise nearly half of the world’s current jobless population, due in part to a mismatch between their skills and labour market conditions that demand problem solving, decision making and teamwork.” The UN Economic and Social Council 6
Learning Initiatives Need Solution Influencing Building Collaborative Need Solution PartnershipsComputer literacy Coaching Leader as a Coach Foundation &Customer Orientation ongoing skill Strategy Building StrategicAnalytical Skills development training Perspectives Energizing Building High Perf’ceCommunication teams Teams Need Solution Project Management PMP Client & People Mgmt Client engagement Performance mgmt Domain Knowledge Domain training 7
Some leading practices @ Infosys • Internal & External training modules: Mandatory/ Recommended modules Learning Capsules • Collaborative learning IIMA, Higher Educ Prog & JMLP HMM & Project Communicare • Technology platforms TAL & ILITE • Tablet PCs • Touch screen kiosks • Societal Impact Project genesis – training college teachers
Infosys BPO Operations Career Stream Mandatory Training Grid JL7 JL6 Avg. Training Days 4 Days Per Year JL5 JL4 Biz Bldg. through JL3 Operations Operations Management 5.0 Customer Value Creation 6.0 Management 4.0 Operations Training JL2 Milestone 4.0 – Milestone 5.0- Milestone 6.0 Bldng. Collaborative Milestone 3.0 – Driving Org. results Building Teams , Partnerships & High Impact Comm. & Competency Behavioral Appraisal Skills Performance Building Teams, Planning & Based Interview CBI Training Workshop Engagement Skills Organizing, Analytical Skills T200 T100 T100 T300 T300 Disaster Recovery Risk Training Security Security Awareness d Intellectual Property Intellectual Property Representative Awareness T100 T200 T300 T400 T500Domain Training Domain Domain Training Domain Training Domain Training Domain Training Training Data Analytics Advanced Data Certified Fundamentals , Improvement, SQP Analytics (BB)Quality Training Transaction Data Analysis , RCA & , IA, QMS, Config. Business Excellence Monitoring Improvement Management Concepts Trg days: Trg days: Trg days: Trg days: Trg days: 3-5 5-8 10 -13 9 -12 8
Accolades for Infosys BPO Best Learning & Award for Innovation in Learning Golden Peacock HR Excellence AwardDevelopment Aug, 2012 Awards Jun, 2012 Award for: Award for Institution Building - Outstanding Contribution to the Cause Sep, 2012 of Education Sep, 2012 NASSCOM Exemplary Talent (NExT) Practices Award (Nurturers category) Jul, 2012 10
Key organisational considerations in Building vs Buying Talent • Rate of Pace of Change in the external environment • Need for innovation • Internal availability of able successors • The quantity factor – numbers • Sheer economics – cost vs benefit 11
“If businesses managed their money as carelessly as they manage their people, most would be bankrupt” The Talent Masters, Bill Conaty & Ram Charan 12
Private sector initiativesSector Company Initiative Focus areasConstruction L&T Construction skills training institute Construction vocational trainingTextile Vardhman group Vardhman Training & Development Center All functionsElectronic goods Godrej The George Telegraph Training Institute Specialized courses in refrigeration, industries air-conditioning, washing machine technologyAutomotive Maruti Suzuki Tie-ups with BGS Institute of Science & Manufacturing domain training India Ltd Mgmt and ABT technical Institute; set up Technical Training CentreRetail ITC Professional Courses through NIS Sparta Retail managementHospitality Grand Hyatt School(s) of Hospitality, Leadership, Relevant domains Management Studies & General StudiesIT Infosys Global training center in Mysore Domain and Business essentialsFinancial services ICICI Bank ICICI Manipal Academy (Manipal Banking & Finance Education) 15