As newer technologies such as artificial intelligence and machine learning take precedence, nearly 98% of Indian companies have innovation as part of their core agenda this year and are planning organisational design changes, according to a study by New York-headquartered HR consulting firm Mercer Global.
“This year we saw palpable excitement from executives about shifting to the new world of work,” said Ilya Bonic, President of Mercer’s career business. “They are pursuing an agenda of continuous evolution – rather than episodic transformation – to remain competitive. They recognise that it’s the combination of human skills plus advanced digital technology that will drive their business forward.”
Mercer’s study shares insights from over 7,600 senior business executives, HR leaders, and employees from 21 industries and 44 countries around the world.
The report noted that more than 30% of executives predicted that at least two out of every five roles in their organisation will cease to exist in the next five years. This is in keeping with the global perception that automation threaten jobs across industries.
In such a scenario, being prepared for job displacement and reskilling is critical for organizational survival. Even so, only 46% of companies in India are increasing access to online learning courses and even fewer (33%) are actively rotating talent within the business, the study showed.
The Mercer report also shows that more than half (53%) of Indian employees satisfied in their current job still plan to leave due to a perceived lack of career opportunities, compared to 39% globally.
Lastly, the report also showed that Indian companies are the most advanced in terms of delivering a consumer-grade experience for employees, with 32% considering themselves a digital organisation today – the highest of any market, compared to a global average of 15%.
"Some 73% of employees say that state-of-the-art tools are important for success, and encouragingly 77% say they have the digital tools necessary to do their job. Indian employees’ digital interactions with HR are the highest reported in the study at 66%," the report stated.