Product and Platform
TCS CHROMA™
TCS CHROMA™: A Cloud-based Talent Management Solution
Highlights
- The future of the human resource management system (HRMS) lies in a hybrid strategy landscape.
- Employees’ well-being, mental health, diversity, equity, and inclusion (DEI) initiatives, environmental, social, and governance (ESG) principles, skill upgradation, and AI adoption are vital components of a modern workplace.
- Organizations need to identify strategies for HR to enable a fluid workforce, DEI initiatives, and ESG compliance.
On this page
Hybrid strategy for HR
The term 'hybridization' refers to the integration of traditional HR practices along with the fluid workforce, the latest and innovative technologies, ESG principles, and DEI compliance, resulting in a dynamic approach to HR management. We all are aware of the traditional HR practices at our workplaces. In today’s times, organizations need new practices while adopting a hybrid HR strategy.
Flexible approach
A fluid workforce refers to a flexible approach to managing talent and upskilling employees as per their capabilities and expertise. This allows HR to quickly adapt to assertively changing roles, tasks, and work environments using the latest technology.
The following are a few benefits of a fluid workforce in a hybrid work era.
- Flexibility: Allows easy adaptation to changing circumstances, such as hybrid work strategies and shifting business priorities. HR achieves more flexibility by adopting modern technologies as per market standards.
- Access to global talent: Enables HR to scout and tap into a diverse pool of skilled individuals worldwide. This approach allows businesses to benefit from various skills, perspectives, and experiences to meet dynamic project needs and foster innovation.
- Learning hub: Enables employees to enroll in learning programs and enhance their skills. This hub offers online courses, training materials, and resources to support continuous skill development and growth within the evolving work environment.
- Cost efficiency: The inclusion of AI and ML in HRM can produce improved quality in recruitment, leaves, attendance, and screening of resumes, which may be used to scale the workforce up and down as per the demand and potentially reduce costs.
- Improved productivity: Employees can work in any environment and schedule that suits them best, boosting their productivity and job satisfaction.
ESG and DEI compliance
- ESG in a hybrid workplace: HR ensures compliance with environmental, social, and governance (ESG) principles in a hybrid workplace. ESG takes the holistic view that sustainability extends beyond just environmental issues. Each organization has its separate ESG goals and climate action targets. The hybrid workplace scenario is focused more on sustainability. The ESG is based on the nine principles of the ‘National Voluntary Guidelines (NVG) on Social, Environmental, and Economic Responsibilities of Business,’ issued by the Ministry of Corporate Affairs (MCA).
- Environmental: Assesses a company’s impact on the planet, including energy use, waste disposal, raw material sourcing, carbon emissions, water usage, and recycling processes.
- Social: Fostering a sense of social responsibility enhances employee engagement and satisfaction. To engage employees, it is vital to evaluate a company's impact on its workforce and the wider community. An enterprise must address requirements around diversity, equity, employee rights, corporate social responsibilities, and the utilization of agency workers.
- Governance: Monitors how a company is directed and controlled, for example, the composition of boards, independent directors, available share classes, interaction with shareholders, remuneration, and shareholders’ rights.
- DEI in HR practices- In today's rapidly evolving HRMS hybridization landscape, diversity, equity, and inclusion are adhered to globally to foster a diverse and inclusive workplace culture maintained in the HR policy, that embraces various ages, perspectives, ethics, races, and talents.DEI in human capital management (HCM) is critical to modern HR practices. It builds a space where employees feel significant and empowered contributors. The concept of DEI helps HRM in recruitment and talent acquisition, onboarding and training, performance management, leadership, and development, and creating employee resource groups (ERGs).
- Diversity: Diversity is the presence of distinction in an ecosystem. The elements of diversity include race, ethnicity, gender, gender identity, sexual orientation, age, socioeconomic class, physical ability, and veteran status of the people working in that work environment.
- Equity: Equity ensures that practices and programs are impartial, fair, and have equal outcomes for everyone.
- Inclusion: Inclusion refers to including all the members of the group or organization involved in a specific activity by maintaining a work culture and environment that makes them feel welcome.
Flourish with modern HR
As the business landscape continues to evolve, embracing a fluid workforce strategy can provide organizations with the agility and resilience to thrive. Implementing effective strategies, leveraging technology, and ensuring compliance in terms of laws and ESG practices by adopting a zero-carbon footprint would help the organization to grow and flourish.
