HR In India: A Fast-Growing Market Focused On People Development
HR Leaders in India are pushing towards improving their employees’ skills more than ever before. The focus is on helping their employees develop new skills and push them to climb higher up the corporate ladder.
India has one of the fastest growing markets in the world right now. It has the fastest growing economy which is now growing at a rate of 7.4% which is expected to increase in 2019. The country has both an established network of global companies as well as a multitude of small businesses that cater to every demand of the people. However, the country’s unemployment rate is growing due to a lack of positions available to both skilled and unskilled workers. There are many instances in which a skilled worker has to resort to doing unskilled work due to a drought of opportunities.
HR Leaders in India are pushing towards improving their employees’ skills more than ever before. The focus is on helping their employees develop new skills and push them to climb higher up the corporate ladder. Many companies are now tying up with universities and colleges to help their employees improve both their technical and leadership skills. The fast-paced development of new technology and the increase in automation has made this an extremely important part of any company’s routine.
The technology used in Human Resources development in India is vastly different from the ones used in countries like the United States. While established international companies like Oracle, SAP and LinkedIn have footholds in the industry, there are also many homegrown companies like Keka and Darwinbox who facilitate cloud-based Human Resources Management to companies locally. Many such companies now employ Artificial Intelligence among their many tools to identify and evaluate employee engagement.
Organisational culture is also one of the most important factors to consider when it comes to the Indian market. Having a good image of the company in people’s minds goes a long way in the company establishing themselves as a force to be reckoned with in the Indian market.