1.
Why the
transition from HR to human capital is important
Its high time companies
need transit. Start-ups are realising that in order to grow, they have to help
each of their team members succeed in their respective roles. Human resource management and human capital
management are terms, which are often considered interchangeable. However, they
are not as similar as they appear to be. Although many would argue that the
difference just lies in ‘resource’ and ‘capital’, the dissimilarities run deep.
Today, it has become imperative to look at human resources as human capital, as
the former needs to be more people centric. However, before we go further, it
is important to know what HRM and HCM are, and how similar or dissimilar they
are. Balachandar
N, business & HR advisory, informs, “Many young start-up companies in the
Silicon Valley and India have started referring to the people function as the
‘people success function’. This is borrowed from ‘customer success function’, I
believe. If one has a mind-set that people success is one’s job, one is helping
everyone to succeed at work. By doing so, one is actually honouring the term
‘human capital’. Young companies are realising that they cannot grow unless
they help people succeed in their roles. It all becomes positively inclined and
about appreciating the capital.” He also believes digitisation will come in
handy in making human capital management a true function. “That will bring in a
lot of transparency in HR, and therefore, people will feel valued. Incentives
and compensation will go digital and people will know who is drawing what.
Digital brings equity to the system. Then, everyone is equal in the eyes of the
organisation,” he opines. Everything boils down to how an organisation views its
employees. Whether they are considered just as a means to an end, or real
contributors to a solid outcome, will decide how they are treated in an
organisation. Hence, converging HRM with HCM could do the trick.
2.
Infosys focuses on
local hiring; is 63% visa-independent in the US
Infosys, has stepped up its efforts to hire
locals and plans to hire 25,000 locals in five years. By
concentrating its efforts on skilling and hiring locals in the US over the past
three years, Infosys has managed to become almost 63 per cent visa-independent
in the US. The Indian information technology services company has been
accelerating its localisation initiatives in Europe and Australia as well. It
is more than 50 per cent visa-independent in Europe and Australia-New Zealand.
Two months ago, Infosys had revealed its plans to hire 12,000 American workers
by 2022, and about 25,000 in five years’ time. Infosys is already in tie-ups
with institutes, such as Purdue, Trinity and RISD, to train a significant
number of employees and offer reskilling programmes. The Indian multination is
expecting the new immigration rules in the US to affect visa processes, onsite
wages, visa tenure, as well as compliance costs, in general.
3.
HGS to
hire 3,200 by May 2021
The
BPO, which is part of the Hinduja Group, will hire people for WFH roles in
India, Having bagged some great deals and with many more in the pipeline,
Hinduja Global Solutions (HGS), which is a BPO under the Hinduja Group, is all
set to expand by at least 3,200 in the next six months. Not only has HGS done
well in the September quarter, it has many attractive projects in the pipeline
for which it will require more people, in India, Canada, Jamaica, as well as
the US, the UK and the Philippines. As of 30 Sept, 2020, HGS had 235 core
business-process management clients and 699 HRO/payroll processing clients. The
BPO recently did a short-term project for the UK government, pertaining to the
pandemic and will soon be working on another big order, for which it is already
in the process of expanding its UK team by 700 WFH roles.
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