Quoting from the study, she said HR priorities are evolving and it's all about talent now. Human capital strategy as a principal function of HR has gone up from 40% to 60% in the past two to three years.
The key challenges regarding human capital are acquiring key talent, driving cultural and behavioural change, building leadership capability and retaining key talent.
The study also revealed that most organizations don't have comprehensive plans to address HR staff skill deficits, as the drivers of HR transformations remain the same.
According to the study, the five core elements to establish effective HR governance are: Structure and accountability, effective councils, philosophy and operating principles, core management and performance monitoring.
Earlier, in his welcome address, Mr B Santhanam, Chairman, CII National Committee on HR & IR and Managing Director, Saint Gobain Glass Indian Ltd, said the biggest challenge facing the CEOs is HR as it played a strategic role in the growth of an organization. He said companies must align business strategies in executing HR plans, thereby maximizing returns on investment.
In his concluding remarks, Mr Rajiv Kapoor, Convener, Organising Committees and Executive VP,(HR),JCB India Ltd said “HR played a key role both in sustaining growth as well as sailing through recessionary phase. HR cannot afford to play a passive role and must jump into the arena where the action is and help maximise returns on investment."
Confederation of Indian Industry
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