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HR CONCLAVE 2015 ON HR AS A COMPETITIVE EDGE

HR conclave on the theme HR as a Competitive Edge was organised by Army Institute of Management & Technology on 10th Oct 2015. It was attended by various HR professionals and other senior executives from a diverse set of industries.

The welcome address was given by the Director of AIMT, Dr. Pawan Gupta who highlighted that human capital i.e. people of the company are the greatest asset of the company.

The keynote address was given by Mr. Dinesh Jain, HR advisor, Uflex who talked about how HR has become one of the most important functions in an organisation coming from personnel management, to human resource development & now SHRM. He highlighted that just like an institute is known by virtue of its students and not by buildings & facilities, the organizations are known by virtue of its employees.

The first panel discussion was on the subtheme - can human capital management lead to competitive edge?

Human capital is the stock of knowledge, habits, social and personality attributes, including creativity, embodied in the ability to perform labor so as to produce economic value. As competitors strive to win the war for talent, effective human resource management is necessary to gain true competitive advantage in the marketplace. Three challenges companies face are sustainability, technology, and globalization which they can handle by having effective Human Capital Management.

The speakers for the panel who discussed on the same wer

During the panel discussion, the following points were highlighted: - Human resource (HR) is the major driver of organizational success and the principal element that makes a business. Financial resources and technology are essential but people are the primary means by which progress is made. Leveraging the Human Capital to gain and sustain competitive advantage in an environment of accelerated pace of change is highly imperative. It is an eye opener that the board of directors now have a human resource executive. Human resource is basically a performance enabler. Human Resource Management has come a long way from being qualititative discipline to a quantitative one involving metrics and data. Human capital management is surely an area of concern and nowadays the HR managers of different companies are working towards the effective management of human capital so as to have a competitive edge. The most important factor for the future of human capital management is using software and technologies.

The second panel discussion was on the subtheme - Can workforce diversity as a competitive advantage? Workforce diversity management is there in the companies to ensure workers have equality of access to recruitment, training and promotion opportunities in the workplace. A research finds that in a diverse workforce where the perspectives of diverse and non-diverse employees are valued, performance improves by 12% and intent to stay by 20%.

The speakers for the panel who discussed on the same were

During the panel discussion, it was highlighted that women are being given immense responsibility and higher positions like in the case of Mrs. Ursula Burns who is the first African-American woman CEO to head a Fortune 500 company. The discussion revolved around identifying the various dimensions which add diversity in an organisation like gender, race, age and the having differently abled people. Further the advantages of having a diverse workforce were discussed. Understanding the advantages of workforce diversity helps you establish an organization with a competitive edge. Though diversity is quite natural and challenging, it can be managed with effective strategies. These session concluded by highlighting the different initiatives being taken by different companies to encourage diversity.

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