Indian Institute of Management Bodh Gaya successfully conducted its annual HR-conclave ‘Gyanodaya 4.0’ on 10th September 2022. The conclave provided a platform for future leaders to interact with business experts, acquire valuable insights from their experiences and expertise, and also helped them to understand the HR perspective. The event was conducted in virtual mode.
The program was inaugurated by Dr. Vinita S. Sahay, Director, IIM Bodh Gaya. She mentioned that Bihar is the HR capital of India and will soon be the HR capital of the world and that the institute grooms and grounds students by exposing them to eminent personalities of the industry.
The event commenced with Dr. Manaswita Bharadwaja, Assistant Professor, IIM Bodh Gaya, welcoming the honorary panel for the event and moderating the discussion. The first panel included Mr. Debashish Ghosh, Vice President and County Head HR, Berkadia; Mr. Vivek Anand, Founder of Business Enablers; Mr. Ashish Banga, Vice President, HR Paytm; and Mr. Suman Arunagiri, Sr. Director & Head- Talent Acquisition, Razorpay. The panelists’ discussion revolved around “Challenges in Retention and Employer Loyalty in the Era of GenZ and Great Resignation.”
Mr. Asish Banga began the discussion by elucidating the Great Resignation and how the pandemic has altered our perspective on work-life balance. Talking on the same lines, Mr. Debashish Ghosh added that the pandemic had shown us a reflection of life’s predictability, reality, and recognition in general.
Mr. Vivek Anand emphasized that retention can be achieved by engaging employees, providing them with a purpose, monitoring them, and guiding them to build their future within the organization. In the same context, Mr. Suman Arunagiri added that hiring the right person for the right job is a significant part of retention and that organizations should ensure that everyone is having fun in their way. The discussion continued as they discussed the differences between GenZ and Millenials and the evolution of the value system from generation to generation. Mr. Suman Arunagiri responded by stating that younger generations are more willing to experiment with their careers. They are willing to take risks and also have great opportunities in the present scenarios. Mr. Asish Banga continued the discussion by stating that the social generation was not concerned with survival but with quality of life and happiness. Mr. Debashish Ghosh inferred that loyalty is not based on the number of years employees remain with a company but on how productive they were during their employment. In addition, he stated that the shift in the value system is more of an economic than a behavioral factor.
The afternoon session hosted a panel of distinguished speakers, including Mr. Guhan Ramanan, President, Business Transformations, Neeyamo; Ms. Meena Kumari, Vice President & Global Head HR, Hiver; Mr. Mridul Chakravorty, Vice President – Talent Supply & Zonal Recruiting Head (South), Accenture; Dr. Remya Lathabhavan, Assistant Professor & Area Head, OB & HRM, IIM Bodh Gaya. Dr. Mathew Swerdloff, EdD, Senior Executive in the Education and Non-Profit Sector, also joined the session. The panelist presented their views on the topic “Technology and Analytical Tools shaping up HR for the Future.” Dr. Soumyajyoti Banerjee, Assistant Professor, IIM Bodh Gaya, introduced the panelists and acted as the moderator.
In the opening remark, Mr. Mridul Chakravorty expressed his view that the tool is a result of our thinking, and we need to list the tools that will enable us to accomplish the goals we have in mind. He said that the tools help the HRs better understand the employees and help in decision-making. Ms. Meena Kumari provided some examples of how technology can be utilized by human resources professionals and suggested that we must adapt to the ever-changing technological landscape. Dr. Remya Lathabhavan continued the discussion by saying that technology is to assist us, and the ultimate decision has to come from humanity. Mr. Guhan Ramanan stated that “Bigger the organizations, bigger the tools and bigger the problems,” and said that it is not simple to incorporate human empathy into technology. Mr. Mridul then discussed the impact of technology on the HR department and how it facilitated their work. He said that the concept of Coaches has increased due to the development of technology similar to Bots, easing HRs’ jobs. Dr. Remya Lathabhavan added that present generations are interested in chat systems compared to a call, and in this aspect, the bot is more beneficial. When asked about the significance of social media in hiring, Ms. Meena Kumari acknowledged that the history of a person on social media could be taken on a subjective note. Suppose the image of the person can affect the company principles and morality of the organization. In that case, it should be considered, but also mentioned that with today’s media presence, it is not always required to consider everything.
The session was highly engaging, and the students showed great interest throughout the event. The session concluded with a lively Q&A session. On behalf of the Institute, Dr. Soumyajyoti Banerjee and Dr. Manaswita Bharadwaja extended their vote of thanks to the panelists for taking out their valuable time for the event. Gyanodaya 4.0, the fourth edition of IIM Bodh Gaya’s HR conclave, was concluded with stimulating and insightful conversations.