A recent poll has found that employers are placing more importance on soft skills and hands-on experience. A report by BML Munjal University (BMU) shows that almost half (45%) of the HR heads surveyed asserted that ‘adaptability’ is the most important skill universities should look to inculcate in their students. They further emphasised the need for an entrepreneurial mindset, and teamwork and collaboration to succeed in a workforce changing in the backdrop of COVID-19.
India Inc HR leaders also believe that the new-age educational institutes are better equipped to prepare students for jobs, and suggested that courses focusing on life skills, if not already on the curriculum, should be initiated in consultation with industry.
In an attempt to understand HR leaders’ perspectives on the evolution of the workplace post COVID and its impact on employment prospects, BML Munjal University (BMU) brought out a report titled “Navigating Workplace Turbulence,” which provides a first-hand perspective of HR Heads/CHROs on their outlook vis-a-vis the current status of work, hiring outlook, expectations from new recruits, role of education in grooming the talent pool, along with the requisite key skills.
On the impact of the current pandemic on hiring sentiments, the study found that a third (32%) of the HR leaders polled are uncertain about the economy and believe that COVID-19 will have a long-lasting impact, also leading to a prolonged recession. This has a direct bearing on talent acquisition, with more than half (55%) looking to fill only essential positions. IT, Marketing & Sales, and Production/Manufacturing are likely to see an increase in the headcount at 32%, 25% and 24% respectively.
The COVID-19 pandemic induced economic crisis has negatively impacted hiring across sectors; a substantial number of organisations have put a freeze on all hiring.
Among the challenges faced by HR leaders in India Inc., maintaining employee morale (36%) topped the list, followed by productivity issues (25%). Additionally, the top priorities for HR leaders during these times are ‘Balancing Work & Life’, and ‘Internet connectivity’.
Commenting on the findings, Akshay Munjal, President, BML Munjal University said, “The world is undergoing a COVID-led transformation, and this is also going to impact the way we work. In addition to increased economic, political and social risks for businesses in general, the current pandemic has particularly focused on organisational talent and HR related challenges. It has become critical to understand how organisations can prepare for the future, and how talent will need to be groomed to make this happen. With this report, we look in detail at how the workplace might transform in the coming decade.”