Mumbai: The HR ecosystem has begun 2018 with seminal events that will empower the space of Human Resources in Indian enterprise: the Leading Behind summit saw the Who’s Who of Indian HR and Corporate leadership celebrate the 40 best young HR Leaders with the 40Under40 Awards; also, the People Capital Index (PCI), a one-of-its kind and India’s first such study — inspired by the Human Capital Index published by the World Economic Forum for different countries — was released by Venkataram Arabolu, Managing Director – BSI Group India, and Suruchi Wagh and Mohit Gundecha, Founders of Jombay. The release of the PCI report was accompanied by a felicitation of the 50 Indian companies that ranked highest on PCI – an indicator or measure of employee perception on how well the organization is developing their People Capital.
- Bennett Coleman & Co was amongst the Top 50 in India’s first People Capital Index, released today at the Leading Behind HR Summit which felicitated the Top 50 companies with the Highest PCI Score among 180 that qualified to be assessed for the efficacy and popularity of their talent development programs as assessed through anonymous surveys of at least 30 mid-management level executives of each company. (Complete list of 50 companies – in alphabetical order and not a ranking order – appears later in this document)
- THE HR 40UNDER40 AWARDS
- The winners of the HR 40Under40 Awards had been handpicked by a jury of Corporate and HR icons of India for having leveraged technology and innovation in the course of doing exemplary work in Leadership and Organizational development.
- They are:
- Arnab Pal of Star India
- Richa Sachdeva of Viacom 18 media, and
- Rajat Shahi of TataSKY Broadband )
These young winners (along with the other 37) were handpicked by a stellar jury comprising of Yash Mahadik, Shanta Vallury, Rajkamal Vempati, Dr. PV Murthy, Prabir Jha, Dhananjay Singh, Govind Ethiraj, Keshav Sanghi and Roma Balwani. These winners were selected through a scientific, extensive process. Leadership potential assessment, Learning Agility Assessment and a Behavioral Event Assessment to know work-life achievements were three important areas of assessment.
THE PEOPLE CAPITAL INDEX:
The People Capital Index Report for companies in India is the first significant and deep dive into employee perception of how well their organizations are working on developing their people capital. Jombay, one of India’s fastest growing talent assessment and development companies, conducted extensive anonymous surveys of mid-managers in different organizations via social and online media and internal company referrals to obtain their inputs.
For a company to qualify for evaluation per the norms of India’s People Capital Index, a minimum of 30 of its mid-management level employees should have taken the anonymous online survey. By that yardstick, 180 Indian companies had qualified to be in the PCI race; of these, 50 were felicitated. An alphabetical (and not ranked) list of the 50 companies per the PCI 2017 by Jombay is appended.
SOME KEY INSIGHTS AND TAKEAWAYS FROM THE PEOPLE CAPITAL INDEX:
The PCI reveals the areas the top 50 companies have scored over the rest that have been ranked low by their own employees. Key differentiator: Enabler of employees, supporter of professional development genuinely caring for the employees. Not merely conducting the talent development initiatives because it is protocol. These insights apply across sectors.
The PCI also throws light on the key gaps in human capital development efforts that corporate India needs to work on, like the need to align L&D interventions to business and make them more relevant; the lack of ready-to-implement tips and relevance which hence serve as the biggest challenge in creating adoption and impact; the need to change metrics tracking learning; the low degree of alignment of corporate India’s human capital development agenda to that of what employees want and the learning area domain gaps like developing leadership skills.
Need-gap areas like these lead to the lessons for companies that have not scored highly on the Index. Areas here include the need to sync learning content with business relevance, to make learning real time, all the time, and more.
Suruchi Wagh, Founder & CPO – Jombay, said, “We are delighted to have given Indian enterprise its first People Capital Index. It is the first survey on ‘people’ in India that provides a deep-dive on the human capital development efforts of an organization. The 50 companies with a high PCI should be very proud of their HR policies, plans, efforts and initiatives to help empower, delight and retain their most precious asset, their human resources. The People Capital Index also has many findings, takeaways and insights which, coming as they do employee feedback, will help and guide HR practitioners a great deal in people development and thereby also combat attrition. We are confident that the PCI will become the People Development gold standard for all companies and HR professionals across Indian enterprise.”
The British Standards Institution (BSI), the world’s most experienced Standards Body and founding member of ISO, has been the standards & audit partner for PCI.
Venkataram Arabolu, Managing Director – BSI Group India Pvt Ltd, said, “After carefully evaluating the process, scoring and methodology of Jombay’s People Capital Index, we believe that this benchmarking index, has a lot of potential to become a global standard for talent development. PCI follows a highly transparent process as it runs anonymous surveys independently, making it difficult to get influenced results. We at BSI feel that PCI will serve as a yardstick for the Learning and Development fraternity. It will create and give them a concrete measure to evaluate their existing practices and be future-ready.”
At a time when the People Agenda has invariably featured amongst the top 3 priorities of most CEOs, the People Capital Index has provided several takeaways and insights to help HR heads in their quest for talent retention through talent engagement and delight.
INSIGHTFUL, KNOWLEDGE-DRIVEN FIRESIDE CHATS:
Another high point of the day-long Leading Behind summit was the insights and inspiration provided to the HR fraternity through fireside chats with a galaxy of experts. The leaders who shared their Leading Behind philosophy included Nikkhil Advani (celebrated film director), Ranveer Brar (Michelin Star Chef), Luke Coutinho (Health Coach and Author – The Great Indian Diet), Govind Ethiraj (Founder of Ping, Founder Editor-in-chief of Bloomberg TV), Kiran Bir Sethi (TEDx Speaker, Design for Change), Rajan Mehra (Venture Investor), Monisha Advani (Film Producer, Entrepreneur), Rouble Nagi (Internationally acclaimed Artist), Capt. Raghu Raman (TEDx Speaker, RIL), Jonathan Bill (CEO Creditmate), Dr. Aniruddha Malpani (IVF specialist, Investor), Parmesh Shahani (Godrej India Culture Lab), R. Gopalakrishnan (CEO, The MindWorks), Pratik Agarwal (CEO, Sterlite Power), Parthasarthy VS (Group CFO, M&M), and Dr. A. Velumani (Chairman & CEO, Thyrocare).
Mohit Gundecha, CEO & Co-founder of Jombay said, “Talent is the most valuable asset, and as one of India’s fastest growing talent assessment and development companies, we at Jombay are delighted and humbled to have put together the Leading Behind summit for the entire HR — and indeed corporate — fraternity of Indian enterprise. We are sure that the recognition of top young HR leaders and the 50 companies that scored highly per the PCI which has also yielded invaluable findings and takeaways, will significantly inspire and empower the HR space in India.
