FUTURE OF WORK AND WORKFORCE TRANSFORMATION

5X technology adoption post Covid has created a whole new paradigm for the future of work

?Kolkata witnessed a never before event when 400 plus members of Pointers Business Forum (PBF) represent the business community initiated by the almamater of South Point High School, is among the biggest in the world.

?On Sunday 3rd April, a day long business conclave and showcase happened which was also attended by speakers from UK, USA, UAE, Japan virtually, besides dignitaries from India. A session on the future of work and workforce transformation post covid was attended by a panel of illustrious speakers like Mr. Ajay Wadhwa, MD of Indorama Ventures Global Business Services, Dr. Sumit D Chowdhury, Chairman of Gaia and Ex-President of Reliance Jio and Ex-Partner of IBM and KPMG, CMA Debasish Mitra, Chairman of the Board of Advanced Studies and Research, Head of Placement Committee, of The Institute of Cost Accountants of India and the GM Finance of Konkan Railways, Ms. Sharmi Roy, Leadership Enabler, Business Coach and ICF Mentor, Founder of Art to Lead the session was moderated by Mr. Pinaki Ganguly, Fonder Director of Fractalz and Dialoguein and Author.

?Mr. Ajay Wadhwa pointed out that the long term opportunities created by Covid outweighs the challenges it posed. opportunities The speed at which change has happened in the last 2 years would have probably taken 10 to 15 years in terms of technological advancements. Covid has changed the mindset of the clients and people as they are finding innovative ways to do their jobs, even high value decision making jobs are now moving to India whereas previously only transactional jobs were the focus for global delivery. This has also helped employees to upskill and move to transformational work. Earlier employers were at driving the job market now the employees are at the driver seat. Furthermore workforce diversity has increased as woman employees can work remotely and well as deliver household commitments, which was earlier a perk is now an accepted reality.

?Dr. Sumit D Chowdhury, spoke about the importance of connecting and analysing Data and converting those into actions. Gaia has been building Smart Cities for the last 7 years using IoT and to connect with inanimate objects using sensors and those data are used to improve the quality of life of the people.?Having the right information at the right time and enabling data driven decisions will improve the quality of life and give back more time back to the people and thereby increase their control over day-to-day work.

?CMA Debasish Mitra, spoke about how ICMAI is creating future ready professionals. He mentioned how the institute is coming up with contemporary courses such as Data Analytics, Forensic Audit, SAP FICO, Information System Security Audits that help students to consume and interpret data in a whole different way to be successful in the industry. During the covid CMAs have conducted various audits remotely through the system and he also stressed that understanding the business model and presentation of information is critical to have future ready professionals.

?Ms Sharmi Roy, stressed that there is a need to change in the style of leadership to manage the new generation of workforce. Leaders should be more empathetic to the challenges faced by the employees, and build a relationship based on and trust.?Today employees’ output is measured on the hours they work, however, going forward performance should be linked to outcome. Time and Motion study judges performance on time spent has to replaced, and jobs itself has to be redesigned to be more outcome focused, that way people can have more time in their hands. While the employees also must reciprocate with trust and should focus on building their own brand and think about their impact to the overall society. At the end of the day people should have a more meaningful and purposeful life and answer to their true calling.

The session moderator by Mr. Pinaki Ganguly concluded the session with an optimism that the new normal is going to be the new norm, where employment will be more democratized, inclusive, and giving freedom to both employer and employees to choose and answer their true calling.

#futureofwork #workforcetransformation #IndoramaVenturesGBS #ICMAI #GAIA Smart City, #ArttoLead

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