News: Balance company & employee interests to usher in future of work: Bhaskar Basu of Microsoft India

Talent Management

Balance company & employee interests to usher in future of work: Bhaskar Basu of Microsoft India

2022 Work Trend Index Pulse Report by Microsoft India spots that while 93% of Indian leaders say getting employees back to the office is a concern, 80% of employees seek better reasons to go back other than the company's expectations.
Balance company & employee interests to usher in future of work: Bhaskar Basu of Microsoft India

With the workplace transformation, the priorities of the employees have seen a huge change. In a recent study conducted by tech giant Microsoft, it has been found that there is a clear gap between the thoughts of the leaders and the employees.

The 2022 Work Trend Index Pulse Report titled “Hybrid Work Is Just Work. Are We Doing It Wrong?” states that 93% of employees in India report they are productive at work, but 91% of leaders on the other hand say the shift to hybrid work has made it challenging to have confidence in employees being productive. 

The press conference saw participation from Saumya Khati, SVP & Head HR at Shiprocket and Suman Gopalan, CHRO, Freshworks along with Bhaskar Basu, Country Head – Modern Work, Microsoft India. 

Commenting on the findings, Basu said, “To bridge this gap, a new approach is needed that recognizes work is no longer just a place, but an experience that needs to keep employees engaged and connected, no matter where they are working from.”

Other key findings: 

  • 47% of employees and 58% of leaders in India report that they’re already burnt out at work.
  • Only 56% of employees in India can confidently say that their company solicits employee feedback at least once a year. This means that just under half of the companies in India hear about their employees’ experiences at work (44% versus a global average of 57%).
  • 93% of leaders in India say getting employees back to the office in-person is a concern. However, 80% of employees in India say they need a better reason to go into the office besides company expectations, but they would be motivated to go for other reasons. 
  • 91% of employees in India would be motivated by the promise of socializing with coworkers and 92% by the prospect of rebuilding team bonds. 
  • 60% of employees in India say there are not enough growth opportunities in their company to stay long term. 
  • 90% percent of employees in India (versus a global average of 76%) say that they’d stay at their company longer if they could benefit more from learning and development opportunities, revealing a powerful retention tool. 
  • Currently 66% of employees in India say the best way to develop their skills is to change companies. However, 84% of Gen Z and Millennial employees say they would stay longer at their company if it was easier to change jobs internally. 

Commenting on the findings, Gopalan noted that the largest share of the learnings are obtained at work when a company continues to be at growth pace. Sharing examples she stated, “I can give you examples of designers who have turned out to be better HR professionals than me with the course of time.” She furthered, the pandemic has exposed a wider range of talent pool which may range from Goa to Sikkim and they may not need to come to office. 

According to Gopalan, the pandemic is actually shining light on the future of work via several aspects which stand at the base of ‘where’, ‘how’ and ‘who’. 

  • Where is the work being done?
  • How is the work being done?
  • Who is doing the work?

“As we define the workplace, we answer the questions raised,” said Gopalan. 

She stressed that it is an imperative to adopt digital tools today, but those should be looked at as enablers of human work. Further adding to the context of training programs and its succcess in retain the employees, she said, “training needs to start with defining what you want people to take away. If you have predefined training objectives you can better measure the success of it.”

Answering People Matters about ‘returning to work’ during the conference, Saumya noted that though there has been a significant rise in the number of the employees returning back to office, “There continues to be a part of the employees who need monetary or non-monetary support before they come back. This majorly covers people with older parents and small children or other family members who need to be taken care of.”

Concluding the session, Basu noted, “It is important to balance the employee interests while looking at the company's success to usher in the future of work.” 

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Topics: Talent Management, #Future of Work

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