Maximising the potential of human capital

Among the changes witnessed across the globe in the last few years, the rapid evolution of the nature of work and the workplace has been a major shift. Be it the emergence of remote/hybrid work, the pursuit of purpose, the need for evolved skills and capabilities, more, evolution that would have spanned decades has been crammed into years. And it has led to the emergence of some fascinating, never before seen trends.

Sample this; a growing number of people are no longer even looking for work, according to the Centre for Monitoring Indian Economy (CMIE). Between 2017 and 2022, the overall labour participation rate dropped from 46% to 40%. Among women, the data is even starker. About 21 million disappeared from the workforce, leaving only 9% of the eligible population employed or looking for positions.

This perceptible shift in the sands of the working mindset can perhaps be attributed to a frustration in the workforce of not finding the right role, or the right work model, or even purpose. The ripple effects of this are being felt far and wide, but you need look no further than indigenous giant TCS to see its ramifications; after they opted to eliminate remote working, the company has lost 1 Lakh + employees in the last year, a majority of them women.

This transition should not be viewed as a trifling trend that will pass, for it seems to be a mindset that has well and truly taken root among the Indian workforce

Charting a way forward

The events of the past few years have changed things through many vectors, such as increased digitisation, hybrid and remote workforces, asynchronous and virtual collaboration, and reskilling and upskilling. This is doubtlessly a lot to juggle, but a few organisations have understood how to turn this challenge into an opportunity, and design a future of work that’s based on what work requires and talent needs. These are the brands to be recognised as a Most Preferred Workplace 2023-24 in a gala ceremony in Mumbai, an accolade that is richly deserved.

By empathetically engaging the workforce and strategising ways to minimise burnout while offering meaningful direction to teams, these organisations have helped us better understand how to tackle the challenges of not just today, but tomorrow as well. They represent a new paradigm of excellence, which will be recognised in a gala ceremony in Mumbai that celebrates their successes.

The 3^rd edition of this unique initiative has been shaped by insights gleaned from an industry-wide consumer study conducted by LeadCap Ventures, with brands appraised on the following parameters:

●        Employee centricity

●        Organisational purpose

●        Intrapreneurial culture

●        Diversity, Equity, and Inclusion

●        Safety & trust

●        Growth, recognition, and rewards

●        Work-life balance

Some of the leading lights of the industry will converge at Most Preferred Workplace 2023-24 to delve into some of the most vexing issues faced by organisations, such as the key tenets of creating a responsible workplace, inspiring a multi-generational workforce, designing the workplace of tomorrow, creating a rewarding and engaging employee experience, and much more.

Offering his thoughts ahead of the event, Sharad Gupta, Co-Founder, Team Marksmen Network, said, “There is a lot of talk about building resilient organisations, but this is easier said than done. Even after creating this resiliency, it is essential to create a forward momentum that allows turning shocks into surging opportunities. The best of leaders and organisations embody this spirit, swiftly pivoting to reorient themselves by discarding what doesn’t work any more, and doubling down on everything that does. Those recognised as being a Most Preferred Workplace 2023-24 have done exactly this, standing strong despite being buffeted by the winds of disruption from multiple directions, and creating a business paradigm that will surely stand the test of time, and any unforeseen systemic shocks.”

To know more about this unique initiative, write to us at contact@teammarksmen.com.

About Team Marksmen

Through an array of bespoke industry-centric knowledge platforms, using a variety of formats, such as Roundtables, Summits & Conferences, Workshops, and Recognition Ceremonies, Team Marksmen helps senior industry decision makers navigate through issues of critical importance and informs their world-view for better decision-making.

Team Marksmen has successfully executed more than 20 events with 300+ domestic and international B2B and B2C brands, helping businesses across industries create opportunities to engage audiences through on-ground and virtual experiences.

The organisation empowers industry leaders by providing them with insights, ideas, and opportunities that fits their unique industry and context. Through content shared via its flagship website, Marksmen Daily, and print magazine ‘in Focus’ focused on business, leadership, and lifestyle, they help advance the practice of management.