Mitron, the RBI has withdrawn 2000 rupee notes recently. All of us have been asked to deposit them to our respective banks. Did you panic? You did not. 

You know, why did you not panic? One of the reasons is that this has happened before in 2016. You already know the ways of handling it. It is there in your Random Access Memory (RAM). In 2016, almost everyone panicked as the previous demonetization happened way back in 1978. The memory of 1978 was wiped out from our RAM. We had to go back to basics to figure it out.

Hold on! This is an article on HR. Then why are we discussing demonetization? I am assuring you that this is an HR article. We are discussing demonetization to draw a parallel. We have been running HR in one gear for decades. The standard HR work has been embedded in our memory. Most of us use standard models for recruitment, training, or performance management. It has become so mundane that it gives an impression as if anyone can do the HR job. 

Why go back to basics?

There are few things which have changed in recent years. These changes have been altering the fabric of the future of work. These changes include:

1. Technological Advancements - Technology has become advanced and real time. People initially thought that technology is going to improve information flow and will remain as a support service. The smartphone evolution shook the telecom and device organizations literally replacing Nokia and Blackberry with Apple. Then it fundamentally changed music and entertainment bringing players like spotify and Netflix. It did not stop there. The technology enabled businesses, to sell online and receive payments online. The businesses can be run on a platform in asset light and location agnostic ways. This led to the evolution of new business models.

2. Business Models- The technological advancement created platform-based organizations. The service subscription model expanded from technology-based services to physical services. The first few successful platform organizations that took advantage of technological advancements were Uber and AirBnB. They offered platforms and charged for usage of their platforms. Over the years, there are many organizations like Urban Company, Swiggy that have entered the space. Traditional companies still sat on the fence watching this glaring reality in sight. The reason was consumer behavior.

3. Consumer Behavior- Technology was available but people were not using it. After the pandemic, digital infrastructure became a necessity. People became tech savvy. In the first quarter of 2021, e-commerce accounted for 15% of total sales. Experts say that it will make one fourth of the total retail sales in the next 3 years. Today digital payments account for 40% of the total payments in the country. Which indicated that the consumer behavior had started evolving. It is about to reach an inflection point where people will en-mass’ start using the new way of consuming services. This will start affecting the structure and employment models of the organizations.

4. Employment Models- To be competitive, more and more businesses will reorganize themselves and shift to multiple employment models. These models include full time employment, part time employment, gig employment and contractual employment. Today, 56% of the new employment being generated in India is gig employmentwhereas the employment laws are still struggling with the full time employment in non factory settings. It is going to be a whole new arena for government, organizations, people and HR professionals. Interestingly along with employment models, the fundamentals of work are also changing.

5. The fundamental change- Technology has made the work measurable. The measurability quotient of work is changing work content of the jobs. It is making them more pointed, and outcome based. Businesses are exploring the possibility to pay for outcomes instead of the number of hours spent at work. That is one example of the fundamental change. There are many such examples that will emerge in this journey of technological advancement.

We have reasonably established that the future is volatile, uncertain, complex and ambiguous. The copy paste solutions will not work in the future. The solutions need to be thought through. Let's spend some time on how to go back to basics.

How to go back to basics?

It is not that difficult. Most of the surviving organizations did a rehearsal during the pandemic. Finding solutions for respective businesses to keep the lights on. Some of them actually figured out opportunities in the tough environment and thrived. Here is the CLEAR model for going back to basics 

Challenge Everything

One of the ways is to challenge everything to figure out what is not required in the shifting normal. Do you need a liftman in the lift? Do you need company owned cars when Ola and Uber are available? Do you need to set yearly targets when the business changes in a quarter? Do you need people to answer queries when generative AI solutions like “ChatGPT” and “BARD” are around? Do you need to operate from office when you can quantify the outcome being produced by an employee working from home?

Learn from others

When the IT industry started in India. The IT companies had a tough time managing a large workforce of developers. They actually went and studied the manufacturing shop floors to understand principles of workforce management. That established norms for floor size, team size and span of control. I never imagined that the cool IT industry actually studied manufacturing to manage scale.

Experiment continuously

The IT industry did not stop at that. They created a phenomenal employee experience and development programs so that they can put their employees in front of their clients. Rest of the industries are still catching up with the disruption they created. Lot of experimentation worked during pandemic as well to keep the lights on.

Adapt to changing reality

Adaptation is the most important word of this century. As the best solutions that you found for your business today may not work for your own business tomorrow. You need to monitor the environment and keep pace with the changing reality. Work from Home was the best solution two years back. Today it might be hybrid for you. Tomorrrow, time can only tell.

Review Roots 

Review the timeless secrets that make employees truly flourish. Some of them are listed here to give a sense of the inception of the function. 

A Warm Smile Goes a Long Way

Data shows that a simple smile can work wonders in the workplace. Research indicates that when employees are greeted with a warm smile, their productivity increases by 10% and their overall satisfaction rises by 15%.

The Power of Appreciation

According to surveys, 80% of employees feel more motivated when their efforts are recognized. Implementing a culture of gratitude doesn't cost a thing, but the returns are tremendous. 

Strong Communication 

Effective communication has always been the backbone of successful teams. Clear, concise, and regular communication enhances collaboration, reduces misunderstandings, and improves overall performance. 

Learning and Development:

Data indicates that organizations that prioritize learning and development have 37% higher employee retention rates.

There are many such timeless practices that make a difference to the organizations. Use that as a repository. 

Finally

HR is like homeopathy, it requires relentless questioning, observation and study to find the right medicine. Although all the medicines look like sweet pills but once you find the right medicine, you can see miracles yourself.