India Employer Forum

Human Capital

How Can Organizations Build Human Capital For The Future?

  • By: India Employer Forum
  • Date: 24 August 2021

Share This:

Introduction: The Ongoing Pandemic and Its Impact on Industries

The pandemic isn’t over yet. There are still several states that are under partial lockdowns. But the impact that the complete lockdown had on industries can’t be seen this time around. Most industries are open and running and the country is moving towards a better phase in terms of growth. It has to be said that the pandemic’s onslaught last year was sudden and there was little time for any preparation. That was a learning phase for almost every industry, especially those that need their workforce to be present on the ground, and are thus not as adept and technologically forward to move to the virtual or remote way of working. It took them a little time and they had to upskill their workforce to prepare them for the new world of work.

Learning from the Past: Industries’ Response to the Pandemic

The industries are better equipped to deal with emergencies today than they were more than a year ago. They have understood the importance of innovation and upskilling their workforce on a frequent basis to not find themselves wanting in the face of adversity. The ultimate objective is to build human capital that is capable of overcoming future challenges. For this, it is important for businesses to continue redefining their upskilling reskilling strategy but also ensuring that it is properly implemented across teams and departments within the organization.

The Importance of Technology in Upskilling and Reskilling

Technology has to be on the top of the upskilling or reskilling wish list. If an industry employed manual labor to complete tasks before the pandemic, it has now trained its workforce in skills that are required to operate technologically advanced machines. These machines do the same work, with a little more precision, that people used to do manually. This upskilling exercise has prepared workers to deal with every technical challenge that comes their way in the future.

Adapting to Changing Work Trends in Various Industries

It is important for every workforce, no matter what industry, to stay relevant with changing work trends. Manufacturing industry and other such industries operate differently. So enforcing social distancing and other pandemic-related guidelines can always be a tough proposition. And it is likely that these guidelines are going to stay for a longer time than people initially thought. This is why several industries are seeing a shift in job roles. Most of these roles are turning digital-heavy. To better deal with this change, organizations need to ramp up their upskilling and reskilling efforts to make their workforce stay relevant in the future.

Focusing on Behavioral and Mental Well-Being Skills

Organizations also need to understand the importance of instilling behavioral and mental well-being skills in their employees to deal with the challenges of working in a completely new environment than they are used to. So they should upskill their workforce in communication, team management, managerial, and presentation skills amongst others. It has also become increasingly important for organizations to take care of the mental health of their employees. Many organizations have already taken this initiative on-board by launching programs on work management and mental well-being.

References

  • Building Human Capital: The Upskilling Picture | BW People | August 6, 2021
  • 5 Easy Ways to Upskill Employees and Maximize Your Human Capital | Open Sourced Workplace | Jennifer | January 29, 2021

Related Articles

IEF Editorial Team

Empowering Women: The Need for Gender Focused Education…

The Indian workforce is undergoing a significant transformation, with an increasing number of women joining diverse sectors. However, several persistent challenges remain, including unstructured skilling initiatives, heightened family and peer...

IEF Editorial Team

AI and Leadership Revolution: Driving Workforce Transformation

The disruption brought by AI is not a fleeting moment, but an ongoing journey reshaping industries and redefining leadership. According to a McKinsey report, AI is expected to drive approximately...

IEF Editorial Team

Gen Z and Gen Alpha: Supercharging the Workplace

As the global workforce evolves, the influence of younger generations is reshaping workplace norms and expectations. The work ethic of these young cohorts is a vital asset that will drive...

IEF Editorial Team

Internal Labour Migration in India: Trends, Challenges and…

Labour migration has undergone a profound change; migrants have grown from 31.4 Cr in 2001 to 45.5 Cr in 2011 showing a 45% increase. Traditional conventions continue to influence migrants,...

Post an Article

    Subscribe Now



    I've read and accept the Privacy Policy.