4 HR crucial factors to drive a positive and productive work environment in 2023
Contents News/Article Date: 8th January 2023
Relating to which Act: Future of work trends in 2023 that will encompass all 4 labour codes of 2019 and 2020.
Applicable to which State: Managements of Establishments in various States and Union Territories
Type: News Report published in MINT
Pertains to: Managements, Employees, and Stakeholders
Relevance of this news: Karma Management Global Consulting Solutions Pvt. Ltd is in the business of Payroll, Outsourcing, and Regulatory Compliances since its inception in 2004 since then, has brought in a lot of efficiencies and technological upgradations with experts on its role, to ease the hassles of Payroll Processing, Temp Staffing On-boarding Management, Regulatory and Payroll compliances by providing customized solutions to all its elite clients.
Now Karma Global is also fully in labour compliance for nearly 18 years and is helping both establishments and workers for the fulfillment of obligations as per the laws of the land. It has over 200 staff, both direct and indirect on its rolls and operates on Pan India basis. Recently, it has diversified into foreign shores as well, into countries like the US, UK, UAE, Canada, Philippines, and South East Asia for handling payroll, outsourcing, recruitment, and governance.
Karma Global is an HR Oriented Organization and its expert staff keeps on playing the role of HR & compliance Managers for its various clients in shaping the client’s organizations to grow bigger. The experts are an integral part of HR activities right from recruiting, inducting, training and development, performance assessment, grievance resolution, exit formalities, salary and wages, recognition, rewards and promotions, retention and finally maintaining a satisfactory level of employees.
In this instance, Karma Global is delighted to say that it is way ahead in the area of automation with state-of-the-art technology running in full steam right from the year 2021.
(1) WeProcess is a tool that helps you to maintain all the registers and records as per the state-prescribed formats online for Pan India. It reduces the time for manual intervention, as now with a mere click you can find the output of all records and registers.
(2) WeChecked is an inbuilt AI & Robotic process automation that seamlessly checks 40% of the documents once it is uploaded by the vendor. This tool not only reduces the time consumption of the vendor but the user-friendly interface makes the upload easier for every vendor.
(3) FULCRUM is a valuable digital container holding together as a cohesive unit, all the tasks, and subtasks, not only within the organization but also outside it. The tool can create meeting schedules, and exchange a plethora of emails between the clients and the stakeholders.
Subject: 4 crucial HR factors that will create space for a positive work environment in 2023
For greater details, appended below is the complete news item
4 HR crucial factors to drive a positive and productive work environment in 2023
Source: Gaurav Sharma published in MINT
The Covid-19 pandemic, the Omicron wave this year, and the subsequent Russia-Ukraine war have resulted in changes in how offices function, made hybrid workspaces the norm, and so on.
The Covid-19 pandemic, the Omicron wave this year, and the subsequent Russia-Ukraine war have resulted in changes in how offices function, made hybrid workspaces the norm, and so on.
On the other hand, talk of a recession and funding cuts has meant that cost-cutting and layoffs seem to be a regular feature, as companies adapt to the new realities.
For HR leaders, this brings to the fore many issues and puts them in uncharted waters. How organizations and leaders react as the world slowly reverts to pre-covid mode, with the added pressure of an economic downturn will be interesting to witness.
The availability of large data sets and an enhanced focus on employee and company well-being have meant that HR can better understand the nuances of the working relationship and business cycles.
In these uncertain times, below are 4 crucial HR factors that will create a positive and productive work environment for all employees which will shape the space in 2023:
(1) The rise of algorithmic HR – AI being the master of technology
As more and more HR tasks become automated, there is a trend to use multiple algorithms to help with multiple HR functions. A report by research firm IDC estimates that 80% of about 2,000 global giants will start using algorithms for processes such as hiring, firing, and training workers by 2024. This is already happening in the gig economy. Algorithms are increasingly rewarding, rating, and mapping the productivity of employees. 40% of the HR functions within international companies have incorporated AI applications.
This aids in talent retention grows the candidate pool and enables a faster hiring process that saves the company money and resources. However, there is a flip side. Algorithms have been accused of faulty decisions, are often unable to explain the reasons for major work-related calls, and have faced flak for terminating people for reasons beyond their control.
HR will have to take full ownership of algorithms, choose where they work best, and ensure that the process is efficient. Measures to eliminate existing biases embedded in historical HR data are a must to make the process smooth. Algorithmic managers can process large quantities of data, communicate clearly, and help make better-informed decisions.
(2) Focus on total well-being
The impact of remote working, combined with the pandemic added pressures of a looming recession and a smaller employee base, could result in employee burnout. The Mayo Clinic defines burnout as physical, emotional, or mental exhaustion combined with self-doubt. For HR professionals, tackling burnout, especially among the top performers, will be very important to prevent attrition and a dip in productivity. Encouraging mental health leaves, and offering value vacations for a job well done will help.
To focus on employee well-being, HR should keep open communication lines with top leadership and employees. Giving and taking feedback is also very necessary. Old hierarchical models must be changed. Efforts to ensure more clarity from team leaders will help the employees become more productive.
Small breaks throughout the day and added vacation time are good incentives to relieve stress. It is also important to have flexible work schedules, to appreciate the top performers more, and to ensure that systems are put in place to ensure that one person does not have to fight multiple issues at the same time. Finding the balance between ensuring that the best workers do not face burnout, and maintaining ongoing projects at the same intensity will be the big task for HR professionals in the coming year.
(3) Data-driven HR
Data-driven HR uses data and analytics to make decisions on hiring, training, and employee development. Data can identify patterns that aid in evidence-based decisions.
In 2023, as organizations rely more on data and develop more data sources and tools for analyzing and visualizing data, data-driven HR will find many applications. One of these areas could be the recruitment process. For instance, data can identify the characteristics and skills needed for success in a particular role and help HR professionals make informed decisions. For organizations, it will reduce the chances of poor hiring decisions, which are costly and could lead to a spike in attrition. It could also help HR professionals identify areas where employees may need additional support or training and help create targeted development programs. Data-intensive HR functions will rule the roost and are bound to help HR personnel do their jobs more efficiently.
(4) Inclusion across the employee lifecycle
Building a more diverse workplace, and ensuring that the multitude of opinions across the office is heard will be a key HR task in the next year. Most Fortune 100 companies have their DEI initiatives (diversity, equity, and inclusion) with 49% having a dedicated DEI initiatives leader. Inclusion and diversity are becoming increasingly important, and HR professionals are promoting inclusion throughout the employee lifecycle. HR professionals will create inclusive cultures and policies that cater to the needs of all employees, regardless of background or identity.