How We Did It

FORTUNE INDIA AND CIEL HR — a leading HR solutions company — worked together to identify the ‘Future-ready Workplaces’ in India Inc. for 2024. We identified six aspects that separate the men from the boys.

These dimensions were developed after discussions with industry leaders and in-house experts and insights of CIEL HR. Based on the six dimensions, we asked in-depth questions in the form of surveys and one-on-one interviews. Companies from BFSI & fintech, IT services and GCC, manufacturing, infrastructure and mobility solutions, science & engineering and consumer products & services, among others, were invited to participate in the survey.

Each dimension was given weightage as below:

Culture and Performance Focus: 20% each; Innovation, Resilience, Nurturing and Sustainable Drive: 15% each.

Once the responses were in, the evaluation of the company’s HR practices was conducted according to the six cohorts encompassing multiple parameters within its scope.

Culture/Performance

Organisational culture in HR refers to the set of values, beliefs, and behaviours that characterise how individuals within a company interact with each other, clients and stakeholders. Organisations with strong HR practices use these principles across processes. The actions and interactions of employees, reflecting cultural norms are the behaviours we see consistently across the organisation. A positive and strong organisational culture can contribute to a more productive and fulfilling work environment. Key elements of organisational culture were identified in:

• Leadership style: The approach and behaviours of leaders within the organisation, setting the tone for the entire workforce. The priorities they set and the style they exhibit in dealing with difficult situations reflects the culture.

• Recruitment: The competencies they assess, the behaviours they look for and the approach they take throughout their recruitment process reflect the organisation’s culture.

• Employee engagement: The extent to which employees feel connected to the organisation, its mission, and their roles.

• Learning and development: The emphasis on continuous learning and skill development as part of the organisational culture.

• Innovation: The organisation’s approach to creativity, risk-taking, and adaptation to change.

Innovation Hubs/Resilience

Entails proactive integration of creative solutions and cutting-edge technologies to elevate various facets of human resource management. It involves:

• Technology integration: Adopting advanced tools to streamline HR processes, improve communication.

• Strategic talent management: Developing inventive strategies for attracting, retaining, and nurturing talent.

• Employee engagement initiatives: Introducing creative programmes that enhance job satisfaction.

Career planning involves aligning individual goals with organisational needs, providing skill development opportunities and integrating it with performance management. HR facilitates succession planning, career planning, mentorship, and work-life balance to engage employees and support their professional growth within the organisation.

• Learning & development: Learning and Development is vital for firms as it enhances employee performance, facilitates adaptation to change, reduces turnover, fosters innovation, supports succession planning, boosts employee engagement, improves morale, and attracts top talent.

Nurturing

“Nurturing” in the context of HR practices refers to supportive efforts undertaken by the organisation to foster growth, development and well-being of its employees. It encompasses a range of initiatives and policies aimed at creating a positive and conducive work environment that helps individuals thrive both professionally and personally. The concept of nurturing involves:

• Mentorship and coaching: Establishing mentorship programmes or coaching initiatives that connect experienced employees with those who are newer or seeking guidance, promoting knowledge transfer and personal growth.

• Work-life balance: Implementing policies and practices that support a healthy work-life balance, acknowledging the importance of personal time and well-being.

• Communication and feedback: Encouraging open and transparent communication, providing constructive feedback, and creating a culture that values employee input and suggestions.

• Health and wellness programmes: Implementing wellness initiatives, health programmes and benefits that contribute to employees’ physical and mental well-being.

• Supportive leadership: Fostering a leadership style that is supportive, empathetic, and responsive to the needs of employees; creating an environment where individuals feel valued.

Sustainable Drive

Corporate social responsibility (CSR) is now a common parlance. It involves companies taking responsibility for their impact on society, both environmentally and socially. CSR involves going beyond compliance with laws and regulations and engaging in actions that benefit the community, the environment and the company’s stakeholders. HR teams either lead the CSR practice or play an important role in conceptualising the policy and executing it in order to make the organisation sustainable over a long time.

Social impact

• Community engagement: Companies engage in activities that contribute to the well-being and development of communities in which they operate. These can include philanthropy, community development projects, and support for local initiatives.

• Environmental impact: Implementing sustainable practices to minimise the environmental impact of business operations such as initiatives to reduce carbon footprint, waste reduction, and the use of eco-friendly technologies.

• Conservation: Supporting environmental conservation efforts, including initiatives to protect biodiversity, natural resources, and ecosystems.

Ethical business practices

• Ethical sourcing: Ensuring that the supply chain adheres to ethical standards, including fair labour practices, human rights and anti-corruption measures.

• Transparency: Maintaining transparency in business operations and communications, including disclosure of environmental and social performance.

Stakeholder engagement

• Customer relations: Building positive relationships with customers through ethical marketing, fair pricing and quality products or services.

• Investor relations: Communicating CSR efforts to investors and stakeholders, commitment to long-term sustainability.

• Charitable giving: Contributing to charitable causes and firms through financial donations.

• Employee volunteering: Encouraging and supporting employees in participating in volunteer activities and community service.