Breakthrough ideas : The Mumbai CXO Conference wrap-up!

The "future of work" is no more a distant future, but is here & now. We are in midst of constant change with new market forces engulfing us faster than we envisaged. Keeping this in context over the past 3 years we have been working on gathering the market trends and the new & unique practices that organisations are undertaking to keep themselves relevant.

As my co-founder Rashmi Mandloi says, we are all in the same boat and if we can learn, share and understand from each other, it will go a long way in future proofing organisations and leaders against the tide of change.

We delved into a deeper research with our research partner "Kantar" to release the 3rd edition of "Employers of the Future" study. In the backdrop of unveiling of the 2024 study, a live dialoguing happened amongst CXO's from Mumbai, Ahmedabad, Bangalore and many other cities in the Financial city of India - "Mumbai".

The conversation included challenges organisations are dealing with and also sharing solutions adopted by these leaders to keep their organisations relevant today and tomorrow.

Snippets from the conversations:

Multigenerational Collaboration:

A big challenge is identified to bring the multigenerational workforce to seamlessly collaborate and rhyme well. To bridge the gap between experienced leaders and the Gen Z talent, organisations could invest in training programs for the experienced professionals to appreciate the work preference of young professionals, as well as facilitate learning for the young professionals on how to leverage knowledge and experience of the senior leaders in the organisation. This process could help seasoned leadership teams to understand how to see the world as a millennial does, and empowering millennials with insights from experienced executives.

Developing a digital mindset :

To remain competitive, companies are increasingly investing in building digital mindset of its employees. CXOs mentioned the need for structured frameworks to aid in digital enablement. These include projects like digital single points of contact, creating spaces for teams to solve for a larger problem (a startup within a large organisation or Bots in small size organisations). The leaders in the room also hinted towards the need for collaboration between industry and academia in order prepare human capital for this type of working world.

Embedding ESG in the Organisation's fabric :

ESG considerations should permeate through and be a part of organisational culture. The conversations illustrated the need for educating leaders and employees about ESG [environmental, social and governance] principles. Adopt an accountability framework and link incentives to ESG objectives.

Co-relational Impact of Health & Wellness with Productivity :

Today, health and wellness initiatives are taking off in many organisations as an essential supportive element for psychological improvement however not linked to organisation productivity. For a farther impact CXOs suggested that it should be on the Board's Agenda. CXOs agreed these initiatives are critical for a continued operating rhythm of any organisation and needs focus, however the real power is in linking health and wellness programs to productivity of the organisation. The impact could be measured in many ways, a few voiced : pulse surveys, satisfaction surveys, productivity metrics across employee connects etc. A few organisations have linked it to employee performance and also to the tracking of attrition rates against the initiatives delivered.

As we move forward, it will increasingly become imperative for leaders to embrace these challenges and foster an environment that supports collaboration, innovation, and sustainability. The insights gathered from the Mumbai discussions serve as a roadmap for organisations striving to become the "Employers of the Future". Look forward to our discussions in Gurgaon, Hyderabad and Bangalore this year!

best,

Mayank Verma

[email protected]