HRAI Outreach Partner Towards Media HR Summit

HR Association India was proud to support as Outreach Partner in the Mega Media HR Summit 2019, held at Westin, Goregaon, Mumbai on 26 June 2019.

Media HR summit intends to delve deep into the challenges that India’s M&E industry faces today and understand how corporate and HR leaders are steering their companies into the future as they seek to attract, develop and retain talent.

Vikas Vats, President- HR Association India, presented his Key Note at the Summit. He gave tremendous enhancement in the strengths of the HRs by his motivational speech.

He spoke about what the future of HR and how the coming technologies like Artificial intelligence, robotics, data mining, machine learning etc. will affect the future  of HRs and how the way of work in HR field will change.

He also mentioned about the technologies that will impact various HR processes like learning and development, talent acquisition, performance management systems, talent developments and other HR systems.

Mr. Vats mentioned, “There are a lot of millennial coming in the work force and their expectations and way of working is different. They expect everything to be very fast.”

According to the research and 18 years of experience of Mr. Vats, “THREE F” formula is followed by the Millennial. The first ‘F’ stands for Fast which shows millennial wants fast efficiency in the work i.e., Fast We Grow Fast We Achieve. This is the first F which HR needs to equip itself to deal with them. It can be either by the way of reengineering  the HR processes or can be by educating the millennial.

The second ‘F’ is Feedback. Till now we have been following the PMS (Performance Management System) that happens once or maximum twice in a year but millennial do it on a very regular basis and want continuous feedback. There are lots of HR software and technologies available which can be used for this.

And the last but not the least  ‘F’ is Flexibility. Millennial want flexibility for example flexibility of time, flexibility of working hours even flexibility of attire that reflects the different kinds of clothes they wear . So now HRs may have to change and revisit their HR policies to deal with Millennial and may be ones want to do it presently.  Very soon Millennial will take over the companies as they will be more in numbers than the other employees then you will have to revisit your policies.

Most importantly, many big companies like Amazon, Google etc. are providing lot of perks and advantages to the Millennial. So the small companies need to manage themselves because the different companies have different advantages. Though it may seem that these companies give lot of money but that is mostly performance based, so if you are not performing well within the two months you can be out!

According to Mr. Vats, instead of money we can give them growth and learning opportunity which is long term and create the base for employees for better and longer career. It may be that these companies like Amazon etc  are giving lavish offices, canteens etc but instead of that what we can provide are personal appreciation and mentoring and that would be more useful for the career. And the young people are intelligent enough to understand that what is important for their career.

In these bigger companies they make employees Feeling Challenged by giving work where they have to stretch but now what we can do is make them Feel Valued instead of giving them challenge where they feel they own something, they own their work and when they do something effects and impacts other people.

These companies come with big brand name but we can replace it with Big Empowerment. If we empower our people and we give them power and flexibility to take decisions, it in turn leads to big branding because in big brand name you are just a small fish in a big sea and you are just replicating the same toss again and again, you don’t have any authority to take decision.

According to Mr. Vats, the most important skills required to be successful in this age are:

Mental agility: One should be mentally agile that is ability to learn unlearn and relearn because the shelf life of technology and products has mitigated tremendously and one continuously have to learn unlearn and relearn.

Second is Analytics: Analytics is coming big way into everything from HR to sports to all kind of companies so one needs to be good at analytics. These are the two new age competency which are important.