Shivakumar also pointed out that global companies were increasingly shifting headquarters from the place of origin to the growing markets and the organizations were prioritizing creative jobs and outsourcing the repetitive work. “More Global headquarters will be in BRICS and Emerging Nations” he said at AIMA National Human Resource Management (HRM) Summit. Shivakumar further added that the country would have a global and knowledge economy in the coming years.
Citing from the Egon Zehnder report, Shivakumar said the share of creative class and service class would increase in the workforce in the coming years while ratio of working class would decline.
He also added that Indian HR was not prepared for the shifts in the nature of the economy, the ways of working and the changing direction of globalization. “India will hire the most in the world in the next decade but it will be challenged on talent,” he added.
Hero MotoCorpBSE -2.11 % Joint Managing Director Sunil K Munjal said that people fear losing their positions to those they groom and that mindset needs to be addressed by providing clarity of roles. “The leadership traits have to be identified at the time of recruitment and the focus has to be on the ability to deal with the unforeseen situations,” he said. Naina Lal Kidwai, Chairman India and Executive Director, HSBC Asia Pacific, said that companies need to prevent entitlement mentality among the identified stars.