Author: yourhrtech
As we step into 2024, it’s crucial to set clear goals and resolutions to guide our journey throughout the year. If you’re still contemplating your resolutions, here are five suggestions to consider. Balance Generative AI with a Human Touch: Despite the hype around generative AI, remember the importance of human input. HR, with its specialization in the human touch, plays a pivotal role in ensuring technology serves the needs of both organizations and individuals. Engage with Business Leaders: Break free from silos. Successful HR leaders actively engage with the C-suite, contributing unique perspectives to align people strategy with overall business…
Contemporary technological advancements have reshaped the way individuals and businesses carry out their daily functions. Whether people are navigating to a renowned restaurant or businesses are onboarding new employees, technology has become an indispensable aid. Among various technological marvels, one cutting-edge wonder that has emerged as a powerful force is artificial intelligence (AI). According to a report by IMARC Group, the Indian artificial intelligence market is projected to be valued at $680.1 million in 2022 and is expected to grow at a rate of 33.28% between 2023 and 2028, reaching $3,935.5 million. It’s undeniable that AI has revolutionized business processes…
AI-Driven Revolution: India’s HR Tech Landscape Set for Explosive Growth in 2024 Introduction: India’s HR technology sector is undergoing a revolutionary transformation, propelled by the strategic infusion of Artificial Intelligence (AI). This integration is reshaping the landscape, driving substantial market growth, increased revenues, and expanding client bases for HR tech companies. Anticipating even more explosive growth in 2024, the sector is embracing the power of Generative AI. Key Developments: The strategic integration of AI across product offerings has transformed HR tech companies, rendering traditional paperwork and performance reviews obsolete. In the new era of onboarding, AI efficiently manages tasks, handling…
Navigating an organization’s human ecosystem is no simple task, which is where Human Resources (HR) departments come into play. Acting like invisible puppeteers to ensure harmony and productivity coexist in the workplace, HR departmental activities remain under the radar until needed to do their job. But let’s dispel any mysteries surrounding this essential function! The Guardians of Corporate Culture Every organization is composed of its own distinctive blend of values, beliefs, traditions and interpersonal interactions – colloquially known as its culture. HR plays an essential role in maintaining this vital element and its wellbeing by safeguarding it both physically and intellectually.…
Enhancing People Management in Higher Education: Embracing Technology Amid Ethical Concerns In the dynamic landscape of higher education, the integration of automation, robotics, artificial intelligence (AI), and machine learning holds the promise of significantly improving people management processes. Authors Furqan Qamar and Jai Mohan Pandit highlight the potential efficiency gains across various functions, from recruitment to professional development, ultimately elevating the quality of the teaching and learning experience. The pivotal role of technology, including AI, in streamlining Human Resource Management (HRM) cannot be overstated. The automation of tasks related to selection, recruitment, and development of teaching, administrative, technical, and support…
Exploring Changes to the 24-Hour Hospitalization Rule: Consumer Ministry Engages with Irdai and DFS In a significant move prompted by advancements in medical sciences, the Consumer Ministry is set to discuss the minimum 24-hour hospitalization rule with the Insurance Regulatory and Development Authority of India (Irdai) and the Department of Financial Services (DFS), as reported by The Times of India (ToI). The National Consumer Commission chief raised this issue on National Consumer Rights Day, with Justice Amreshwar Prasap Sahi expressing concerns about the existing condition that mandates a minimum 24-hour hospital stay for surgery-related claims to be accepted. Justice Sahi…
“Intel’s Workforce Reduction Continues: 235 Jobs Cut at Folsom R&D Base” In its latest announcement, Intel has unveiled plans to trim its workforce, targeting 235 jobs at its Folsom research and development base in Sacramento County. These impending layoffs, set to commence on December 31 over a two-week period, mark Intel’s fifth round of job cuts this year. According to state regulatory filings, covered notably by the San Francisco Chronicle, Intel’s move is part of its strategy to streamline operations and adapt to evolving market dynamics. An Intel spokesperson highlighted the company’s commitment to advancing its strategic direction while managing…
Over the last decade, the business landscape has become complex, undergoing a plethora of changes to keep up with evolving consumer needs. From adopting rapidly advancing technology to retaining market value, organizations have learned how to stay at par with the competition. Additionally, there has also been a significant increase in fraud incidences, which has spurred unprecedented regulatory updates during this period of rapid growth. Compliance Management has become more than just a box-ticking exercise, and there is increased emphasis on proactive compliance that can act as a business differentiator. Already burdened compliance teams can struggle to track evolving regulations…
Navigating HR Challenges in 2023: A Year of Innovation and Resilience In the dynamic landscape of 2023, HR leaders encountered a myriad of challenges that spurred innovation and adaptation. Despite uncertainties in employee experience, HR tech, learning initiatives, hybrid work models, metaverse integration, and DEIB efforts, these challenges became catalysts for positive transformation. Employee Experience: In 2023, the traditional career growth trajectory faced disruptions. Quiet resignations and significant layoffs made job options less visible, prompting HR leaders to focus on understanding and enhancing the employee experience. Companies vied for top talent, necessitating a deeper understanding of employee needs and aspirations.…
Choosing to work for NEC despite contemplating quitting was a pivotal decision that led to transformative changes within the company. As the simultaneous CHRO and Managing Director of the People and Culture Division, I navigated NEC’s journey towards becoming an employer of choice, aligning with the Mid-term Management Plan 2025. Attracting Global Talent: In 1992, I sought a career in a globally competitive company, and NEC, ranking among the top five in various fields, emerged as the ideal choice. Despite a compliance challenge in 1998 tempting me to quit, a commitment to rebuilding and a customer’s reminder of NEC’s role…