October 2014

Mohammad Anas Wahaj | 28 oct 2014

Strategic roles in businesses are often considered to be of functions like sales, marketing and finance, while human resources (HR) is mostly thought to be lacking the strategic outlook. HR has generally been associated with implementing processes and managing employee relations. Research study published in Jan 2013 by the Chartered Institute of Personnel and Development, a professional association for HR management professionals, showed that nearly 18% of business leaders are unaware of HR's contribution to business strategy. Moreover 18% say that senior HR professionals have no involvement in business strategy at all. But this is probably going to change as most companies consider their 'talent' as strategic advantage and recent discussions are revolving around HR's ability to influence business decisions. According to global study conducted by the Economist Intelligence Unit in 2012, 70 per cent of CEOs want their HR directors to be a key player in strategic planning. Some of the strategic HR roles that can drive business direction include where to invest in resources and top-level talent issues, such as leadership development, and how to develop and manage the talent pipeline. Anubhav Srivastav of PeopleStrong HR Services, suggests in detail possible ways in which this can be achieved - Understand the business; Leverage the power of data; Technology and change management; Match strategy with action. Moreover HR can also outsource some of their traditional transactional activities like payroll, compliance, document management and query management, that will leave them with more time for strategic considerations. Read on...

The Hindu: Why HR needs a role in business strategy
Author: Anubhav Srivastav

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Mohammad Anas Wahaj | 27 oct 2014

The newly appointed Chief Economic Adviser to Government of India, Arvind Subramanian, in an interview to IMF (International Monetary Fund) said, 'The Indian economy needs a couple of big things, better governance, a stronger state delivering security of contract, protecting property rights, providing infrastructure. You need a bigger role for the private sector, means getting rid of the lots of regulations that stifled the private sector, that stifled employment creation, that stifled the ability of the private sector to grow, to become big. These are the kind of broad twin challenges that India faces.' He further mentions scarcity of coal and electricity as reasons for stalled private sector projects. He explains that growth has to be brought back to 7.5-8% consistently for about 10-25 years to address these various challenges including jobs for the expanding labor force. Read on...

The Financial Express: Arvind Subramanian: Bottlenecks must be cleared to woo private investment
Author: NA

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