MR VIKASH MITTERSAIN
He is the Chairman & Managing Director of Nazara
Technologies Ltd ; Founder of the IBG Chamber of Commerce & Honorary Consul
General to Republic of Mali
Dr Wilfred Monteiro- The author of the book HCM 4.0 MODEL
BUSINESS CENTRIC MODEL FOR INDUSTRY 4.0 (published by Himalaya Publishing
House) has a central theme: THE VALUE OF ‘HUMAN CAPITAL’ AS A
STRATEGIC TOOL FOR COMPETITIVENESS He bulls eye aims at the value
proposition of how to foster a company turnaround with the HCM 4.0
Model Business Centric Model.
The author has very succinctly summarized the Value
Proposition of the HCM 4.0 Model in 10 points. These would be useful as
goalpost for any CEO/Entrepreneur who wants to take his company to the
Next-Level of Business Excellence. HCM function chiefs could look at this
summary as a agenda for the coming year. Here is the brief summary of my
gleanings from the book:
1-CREATING INSPIRED LEADERSHIP
Strong leaders work in tandem with HCM to design the
workplace environment; work both on its strengths and flaws ; a recognize
of the new rules of work; show a willingness to change and alter aspects
of their leadership style; structure methods to begin with what
they can change. HCM 4.0 MODEL must drive the message that leadership is an
action, not a position. Leading people is more important than just managing
work.
2.BUILDING A
RESOURCE CALLED TALENT
Business excellence
described earlier depends heavily on competent personnel,
better-than-adequate competent capabilities and effective internal
organization. Building an inventory of talent to match the demands of the
business strategy is the deciding factor between success or failure in
strategy execution. When technology can be copied easily the only thing
which cannot be copied is delivery of the customer experience – this is
really enabled by the unique talent of a company. Thus the key deliverable
for HCM 4.0 MODEL is to acquire and integrate prime talent in the companies
fabric with the best learning facilities and rewards system;
develop commitment and capability to deliver business results supported
by robust measurement and evaluation of people performance.
3.CREATING A LEARNING
ORGANISATION
Knowledge has become a the cutting edge for
competitive advantage for Industry 4.0 demands organizational capabilities such
as agility which quickly respond to both threats and opportunities with a
vibrant zeal of a talented workforce . This enables winning company to quickly
turn strategy into action through efficient lean processes and create the
conditions for seamless change.
HCM4.0 MODEL makes Learning the core competency of
the organization. This leads to an incomparable learning capacity to meet
future demands and align with customer expectations. Here HCM
4.0 plays the role of a talent incubator helping the organization
to come to compete on the basis of its quality of talent.
4.RAISING THE LEVEL OF EMPLOYEE ENGAGEMENT
Employee engagement is the emotional commitment the
employee has to the organization and its goals. This emotional commitment
means engaged employees actually care about their work and their company. As
former multinational CEO and management luminary once said,
“TO WIN IN THE MARKETPLACE YOU MUST FIRST WIN IN THE WORKPLACE.” Employee
engagement is the key to activating a high performing workforce. HCM4.0 s
initiatives an increase employee commitment and capability
This is the missing key to the company becoming a market leader.
5-ENHANCING
THE EMPLOYEE EXPERIENCE DURING THE EMPLOYEE LIFE CYCLE;
Engagement begins with a
designer employee experience. The neck-to-neck competition for talent, means
your employee experience must stand out from offerings of other
employers. A unique employee experience is one of the most powerful investments
your organization can make. Agile HCM 4.0 MODEL would mean you
continually improve the employee experience with creative ways of customization
and acknowledge that employee delight is a moving target.
6.FOSTER A VIBARANT
CULTURE TO BREED SUCCESS :
Organizational culture
first needs to be recognized as a crucial factor in shaping organization
effectiveness.. Maintaining an effective culture is so important that it, in
fact, trumps even strategy as a critical success factor . Culture
is like “the operating system” of the organization; which guides
how employees think, act and feel. A “ culture audit” is periodically need if
management may find that it is not practicing what it preaches. HCM 4.0 MODEL
has the continuous task of shaping and evolving culture which emerges
inadvertently and needs a special initiative for change of direction.
7. IGNITING SPIRIT OF
ACHIEVEMENT & INNOVATION
HCM fosters pro-active behaviors; this concept
suggests that you work faster than the competition who is busy copying and
improvising on your latest technology. The spirit of Innovation takes the
earlier point further; this implies a restlessness to do better and
gatecrash into the market as the pioneer. In one scenario people may
respond to pain areas and take stop gap action. But in Industry 4.0 a company
needs to seek hidden opportunity areas.Companies like Apple 3M
Toyota worldwide and within India companies like Hindustan Unilever and Larsen
and Toubro are best examples of this ethos.
8. CREATE CHANGE READINESS
FOR ORGANISATIONAL RENEWAL
HCM4.0 acts as a
catalyst for change- providing ideas and challenge to management teams,
thus. HCM must encourage individuals and functions that embrace
technology, take risks, act globally, go first, move fast, and innovate. An effective
Business-centered HCM leader must be a skilled influencer having the
courage to challenge and induce change when it is necessary. HCM can identify
and communicate potential threats , and develop
scenarios showing what could happen in the future. HCM 4.0 MODEL
presents the challenge of promoting the change initiatives so that
top leaders own and champion the change; demonstrate public commitment to
making it happen; garner resources to make it happen; give personal time and
attention to following it through.
9. HCM SERVICE DELIVERY
EXCELLENCE
HCM has to first clear its own backyard if it
wishes to be recognized as a performance enabler. HCM must lead by its own
example of continuous improvement and renewal. The standard set for
HCM services must project it as an agent of continuous
transformation, shaping business processes delivering administrative
efficiency. HCM service delivery excellence implies how the line
managers and the rank and file (the internal customers ) view the HCM
services. Are they being customized to their requirements? Feedback about
the user-friendly experience is an important rating.
10. DEVELOP EXECUTION AS A CORE COMPETENCY
A well-crafted strategy;
may fail to deliver on your most important goals if it is not
integrated with great execution. Strategy Execution is a long-term core
competency every organization needs. Execution Excellence demands clarity of
objective from inspired leadership; which is the net effect of the value
chain of HCM 4.0 MODEL; This in turn leads to clear expectations
and work plans. Good execution needs quality of the inter group
dialogue and cross functional working; which surely aids effective
decision-making and resources deployment to bring about
execution excellence . It is implied that if strategy is being executed
well, that means people practices are working.
ROUNDING UP
I read the book with rabid interest during my flight from
Mumbai to Dubai a few months ago . The lessons were really captivating and I
made a TASK LIST of ideas I would implement in my company Nazara Technologies
Ltd. The book details a practical framework which
integrates the discordant HCM processes and practices into an holistic HCM
Master Plan ( not leaving out the tricks and tactics of execution;
including a detailed list of pitfalls and obstacles in the journey of
implementation) CEOs & Entrepreneurs and Family Business
Owners who need to spearhead a new wave of HCM in their companies should
use it a charter since – every concept is linked to practical
application.
CEOs have the mega-task of building the capability of
the organization to deliver strategy. The logic is simple people execute
strategy, not processes not machines and technology alone .
Forward looking CEOs should fundamentally remake HCM into a
business unit that thinks like a profit center , functions independently
like a division , has its own way to track ROI to elevate itself into a
full-fledged member of the C-Suite.
I would recommend every Human Resource managers and
other function managers at senior levels who wish to learn
strategic ways of managing the function must buy the book and read it . The
author say “…Innovation in HCM is not copying from a benchmarking partner or
competitor but customizing a best practice to the company’s unique business
context” The author warns” … HCM 4.0 MODEL should not whittle down
to a change of label or a juggle of management jargon but a roadmap for a
revitalized HCM system…”
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