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The Indian economy has slumped from a 6.7% growth in 2008-09 to an expect 5% in 2013-14. Though the numbers are low, most experts believe that 2014 is poised to be the time for growth in terms of Human Resources. To make the most of this phase a Trainer must be aware of the latest trends to be relevant and productive. Below is a list of the top trends that are trending across different studies and articles for 2014
1) Stagnant job market but a decreased availability of highly skilled people
2) A globally mobile workforce
3) Leadership Gaps continue to be a concern
4) It is a digitized world
The Workforce The plus side for Organizations is that the job market is stagnant for now, especially for the experienced employees with organizations like TCS looking to hire freshers to cut costs. (Economic Times, 19th June 2014). However, today employees are no longer restricted by borders while seeking opportunities. The focus therefore needs to be on Talent identification and retention.
Building Skills and Bridging Leadership Gaps In India, though the number of students passing out with professional degrees is on the rise their ability to meet employer expectations and thus their employability though is in question. This leads to skill gaps that need to be filled in the Organizations.
Promoting employees as reward for their performance in the current roles has led to several levels of leadership that is underprepared. This is a serious concern for Organization as a strong leadership pipeline is at least as important as a Product pipeline to ensure Organizations sustained success.
It is a Digitized World Technology and internet are now an integral part of how we think and live. This means that the Trainers must be aware of the latest technology that employees need to be trained on and the latest technology that can be used for training. Web tools, e-commerce platforms are booming; there are four incubators in India that look specifically at Digital start-ups. Larger Organizations like the Hindustan Lever are looking at Digital Labs and Digital Sales Fronts while Tata Motors and Maruti have already adopted digital technologies to design complex systems on their shop floor.
What does this mean for Trainers The challenges for trainers is to fully comprehend the paradigm shift in the training needs of the organizations and be ready to be relevant in the changing scenario. It appears that training can no longer be about just about making an employee ready for the current role. The learning goals must integrate with the career development path for the employee. This will ensure not just employee engagement and retention but also mean that Training is proactive and ensuring each employee is ready to take on each role with confidence and the Leadership pipeline is well thought out and no longer ad hoc.
Trainers must increasingly embrace technology based learning methodologies like e-learning, webinars and online courses which are more readily accepted by todays generation and are also more effective in ensuring consistent delivery across geographies. To cope with these new trends trainers must assess themselves and soon acquire such knowledge and skills to fit manage this new shift in training.
References - http://www.thehindu.com/business/Economy/challenges-for-india-inc-to-continue-in-2014-moodys/article5425180.ece
India in 2014 - Creating Value with Speed and Quality: The New Imperative Produced by the Accenture Institute for High Performance, An annual review of key macroeconomic and sectoral trends (http://careers.accenture.com/in-en/Documents/pdf/India-in-2014.pdf)
The Human Capital Online Cover Story http://www.humancapitalonline.com/PDF/January14_Coverstory.pdf
Predictions for 2014 - Building A Strong Talent Pipeline for The Global Economic Recovery Time for Innovative and Integrated Talent and HR Strategies; Josh Bersin, Principal and Founder Bersin by Deloitte, Deloitte Consulting LLP - December 2013