Reimagining Human Resource in a changing world: HR goes the whole mile to keep millennials happy

By 2025, 75% of the global workforce will be made up of millennials — the always-mobile, instant gratifi cation-seeking workers looking for rapid career advancement in tandem with meaningful, challenging work and work-life balance. To adapt to the new world of work, HR is undergoing extreme makeovers to deliver greater business impact and drive business innovation. "India is now the global hub for IT talent, with over 3.5 million employees and poised to grow at 6% this fiscal. Digital is pervading everything. The journey towards a new face of HR started in an incipient way two to three years ago. The momentum is increasing at a rapid pace, led by the fact that the workforce is increasingly constituted by those who joined after 2000," said R Chandrashekhar, president, Nasscom. This generation of milliennials grew up in the midst of technology and as their proportion in the workforce increases, the use of social media becomes inevitable.
"While it is true in all segments, it’s much more so in IT as this is the very industry that is driving disruptions," said Chandrashekhar. While bigger companies are bringing in processes and systems to bring about changes in HR to refl ect changing times; smaller companies with no legacy or formal HR systems to deal with have been faster to adapt.

As HR goes through a period of transition, Nasscom has put together a report titled ‘Reimagining HR in a Changing world — 2015’ highlighting the strongest trends and drivers in the days ahead. Sreeradha D Basu brings you excerpts of the report, shared exclusively with ET.