Amidst the backdrop of AI revolution and shifting workplace d💞ynamics, a question echoes through boardrooms across India: What defines organizational excellence in 2024? The answer lies not in theoretical frameworks, but in the real-world practices of companies that are already crafting tomorrow's wor꧑kplace. This premise gave birth to the "Employers of the Future" (EotF) study, went beyond conventional research to uncover ground-breaking workplace innovations.
The Employers of the Future study in association with Outlook Business 🧔Magazine, now in it💮s third edition, represents a comprehensive examination of organizational practices and innovations that define workplace excellence with 20 organizations emerging as leaders in workplace innovation and employee-centric practices.
While the study provides data and valuable insights, true transformation happens when leaders come together to share experiences and learn from each other. This understanding led to the creation of the EotF event series - a platform designed not just to present find🌃ings, but to facilitate genuine dialogue among industry leaders.
The Top 5 themes that the organizations resonated with around employers of the future 2024 study were:
Theme 1: Diversity, Equity and Inclusion - The Key Mantra for Future Ready Employers and are thꦫe key drivers for organizations to achieve productivity, revenue maximization, and employer desirability. It outlines the tangible benefits of diversity and inclusion programs, such as maximizing intellectual potential, improving employee belonging and engagement, fostering creati✱vity and collaboration, and empowering employees to bring their authentic selves to work.
Theme 2: Talent density is a function of productivity & intellectual potential. It emphasizes the direct relationship between talent dens𒁏ity, productivity, and intellectual potential and how organizations can leverage digital technologies like AI, machine learning, and automation to enhance efficiency, oversight, and human contribution measurement with technology as a catalyst.
Theme 3: ESG as a dimension is yet to be harnessed. This theme explores the current state of ESG (Environmental, Social, and Governance) efforts in India's context, where smaller organizations are less active while larger ones are relatively more proactive. It highlights the need for organizations to integrate ESG resonance not only from a business perspective but also from the employees' point of view. The insights and suggestions for employers include co-creating policies that resonate with employees, implementing ESG as a performance metric for managers, and conducting diversity and inclusion 🔥audits to create an equitable environment.
Theme 4: Digitalization: From Operations Centric To Employee Productivity
This theme emphasizes the shift from operations-centric digitalization to focusing on enhancing employee productivity. It highlights how digital applications, cloud solutions, AI, and smart algorithms can help with performance management, create predictive insights, and enable skills development through embedded workplace technology. The theme also discusses the role of AI chatbots, digitaliz♌ed training, gamified learning, and AI/ML-led employee journeys in improving efficiency and productivity.
Theme 5: Health & wellbeing of employees is a key priority for most organizations.
This theme underscores the growing importance of employee health and wellbeing as a key priority for organizations. It outlines how companies are providing personal health platforms, incentive programs, and a culture that prioritizes the overal🌳l wellbeing of employees to maximize productivity. The theme lists various initiatives offered by employers, such as sabbaticals, physical and psychological support, onsite health activities, financial wellness programs, and community-building activities focused on employee health.
Mayank Verma, CEO and Co-Founder Leadup Universe says - "The goal of the 'Employers of the Future' study was very obvious from the start: to create an extensive repertoire of best practices that would aid organizations and leaders on their path to excellence. The study has gained a solid reputation over the last three years for its perceptive conclusions and useful suggestions. This year's partnership with Outlook Business and Kantar has increased its legitimacy and widened its audience, solidifying its position as a vital tool for leadership across industry to know practices that can help build a future ready organisation".
The themes shaped the philosophy and forma𒁃t for the discussion seminars. The three seminars planned to capture the voice of CXOs were curated and executed in Mumbai, Hyderabad and Gurugram from Au꧟gust till November 2024. Each seminar was uniquely structured to maximise learning and collaboration and carefully orchestrated gathering 70+ CXOs from distinctive industries in a room. The insights from the study were unveiled, bringing together C-suite executives and industry leaders for meaningful dialogue and knowledge exchange. These events served as platforms for sharing best practices and innovative solutions to contemporary workplace challenges.
Rashmi Mandloi, Co-Founder Leadup says - " We have always believed in bridging the gap between academia and industry and a study like this gives us the depth and span of knowledge that can help in understanding and solving for the new challenges that awaits us around people, systems and technology. It's not just about the study itself; the network built around it creates a valuable ecosystem for forging connections that enable diverse organizations to collaborate and learn from each other."
Moving away from traditional conferen👍ce formats, all the seminars featured innovative "Brain Dating" sessions and showcased "PowerInsights" from the winning organizations.
Mumbai August 22, 2024: The financial capital of India hosted the first of these transformative gatherings in association with Outlook Business Magazine, where CXOs from various sectors converged to discuss critical workplace themes. The event featured structured ♎sessions including panel discussions, brain dating, and networking opportunities, creating an environment conducive to meaningful exchange of ideas and dialogues around multigenerational workforce collaboration and health-wellness integration with productivity.
The Panel "Future of Work" featuring Nilesh Garg (MD & CEO, Tata AIG General Insurance), Amit(Associate Editor, Outlook Business), and Samik Basu( CHRO, Hindalco at Aditya Birla Group), shared practical strategies for digital transformation. The winners of E𒐪OTF 2024 with CXOs from Zydus, Cactus, Altimetric, NSE, Quantiphi, and MSD India showcased practices that make organizations 'Futu🐭re Ready'.
Key discussions in Mumbai centered around several crucial areas:
Multigenerational Collaboration: Leaders addressed the challenge of fostering seamless collaboration between experienced professionals and Gen ꦐZ talent. Organizations shared innovative approaches to bridge generational gaps through targeted training programs and mutual learning initiatives.
Health and Wellness Integration: A signif🌊icant focus was placed on linking health and wellness initiatives directly to organizational productivity. CXOs advocated for elevating these initiatives to board-level discussions, emphasising their impact on employee performance and retention.
ESG Implementation: The sessions highlighted the importance of embedding Environmental, Social, and Gꦕovernance (ESG) principles into organisational DNA, with leaders discussing frameworks for acc📖ountability and incentive alignment.
Kinjal Pande, CEO – Cluster India & India Subcontinent says " A genuine commitment to environmental stewardship and social responsibility is no longer optional but essential for long-term success. In this evolving landscape, fostering a culture of diversity, equity, and inclusion is crucial; it ensures that every voice is heard and valued, cultivating an environment where innovation can flourish. By nurturing a spirit of innovation and encouraging creative problem-solving, businesses can attract diverse talent and harness unique perspectives to drive progress and enhance competitiveness. Ultimately, organizations prioritizing these principles will be best positioned to lead in an increasingly complex global marketplace, achieving sustained growth while making a meaningful and positive impact on society."
Hyderabad September 27, 2024: The technology hub of Hyderabad hosted the second event, in association with Outlook Business Magazine, where industry leader🌳s delved deeper into organisational e𒆙xcellence and future-ready practices. These were further expanded to include conversations around digital transformation strategies and sustainable business practices.
The brain dating session proved particularly insightful, generating four primary focus areas:
Talent Density: Discussions centred on al🎶igning ta🎐lent strategies with organizational vision, addressing skill gaps, and preparing for future workforce needs.
Sustainability Integration: Leadeౠrs shared experiences on embedding sustainability initiatives beyond compliance, emphasising the importance of employee engagement in environmental and social im🎐pact programs.
Employee Well-being: The summit highlighted comprehensive approach💝es to employee health, encompassing social, emot💜ional, physical, and financial dimensions.
Digital Integration: Participants explored balanced approaches to implementing technology while maintaining human-c꧃entric values.
CHROs from Kyndrly, Zenoti, Amara Raja, AGS Health, and SAP and practices that🍬 make the organization future ready. "Digital For Business &amඣp; Experience was also debated and also a deep dive into ESG implementation strategies with measurable outcomes.
Gurugram Nov 22, 2024: The Gurugram session, presented in partnership with Outlook Business Magazine, concluded with the power insights from all the winning organizations passing forwards their best✱ practices to become future ready and the grand finale of the EotF 2024 initiatives. The three key themes:
Enabling a Future-Ready Workforce: Leaders from Tata Communications, Amadeus, and Mahindra Electric shared strategies for leveraging AI, analytics, and ups🐎killing programs to transform the workforce and cultivate a culture of continuous learning.
Shaping Sustainable & Inclusive Workplaces: CHR𒊎Os from Airtel, Reliance Industries, Honeywell, and Mahindra Logistics discussed approaches to embedding ESG principles, fostering diversity and inclusion, and driving employee engagement through purpose-led initiatives.
Digital Transformation for Competitive Advantage: CIOs and CDOs from Aditya Bi🐬rla Group, Tata Steel, ITC, and Mahindra & Mahindra showcased their digital transformation journeys, highlighting the use of emerging technologies to enhance operational efficiency, reimagine customer experience, and upskill their workꩲforce.
Mr. Rajeev Dubey, Ex-Chairman of Mahindra, eloquently laid out the fundamental dimensions of the future-ready leader - a critical framework for na♑vigating today's complexities.
There were Powerinsights from the future ready organization" taken by CXOs from InterGlobe, RenewBuy, Airtel Payments Bank, Meesho, Titan, Spice Money, PeopleStrong, PhonePe, and EY. The event was also positioned f🃏or CXO Insights: Workplace, Taleꦉnt & Practices
DB Schenker has been sponsoring EOTF since the past 2 years, Jyotsana Saxena, Chief People Officer- Cluster India and Indian Subcontinent says “One needs to prioritize diverse perspectives to enhance creativity and adaptability in an ever-changing market. By investing in professional development and fostering a collaborative culture, where all employees can succeed. As we address future challenges, emphasizing ethical practices and sustainable solutions should be a comprehensive strategy that positions organizations to drive progress and set new standards in the industry."
Key Outcomes and Insights Summarizing actionable insights for organizations striving to become future-ready
Talent and Leadership
Organizations need structured frameworks fཧor digital enablement
Investment in upskilling programs focusing on ♏AI-compl🗹ementary skills is crucial.
The importance of creating spa🐻ces for innovation within established organizations.
Wellness and Productivity
Health initiatives should be directly linked🐷 to organizational productivity metrics
Comprehensive well-being programs show measurable impact on absenteeism and p♔roductivity
Mental health𒉰 suppo💖rt systems are increasingly critical for organizational success
Sustainability and Social Impact
ESG initiatives require thorough employee🎐 education 🅠and engagement
Organizations with strong sustainability programs show higher employee retentioཧn
Industry-academia partnerships are ♛v🃏ital for preparing future talent
Digital Transformation
Success l🦩ies in balancing technological adoption with human skills.
Organizations need clear delineatꦐion between automation and human input🃏.
Digital customer engagement should enhance rather ཧthan replace human interactions
The e🎃vents concluded with exclusive networking sessions providing participants with an opportunity to forge meaning𝓀ful connections in a relaxed setting. These sessions proved invaluable for:
Building industry connections.
Sharing additional insights and experiences.
Creating opportunities for future collaboration.
Fostering a community of forward-thinking lead𒅌ers.
Sponsors and Strategic Partners
The Employers of the Future (EotF) 2024 initiative was made possible through the invaluable support of our distinguished partners. DB Schenker served as our strategic partner, providing critical insights and support throughout the study. Keka joined us as the bronze partner, bringing innovative HR technology perspectives. Budgetree stepped in as our total rewards partner, offering unique compensation and benefits insights. Quorum played a crucial role as our event and experience partner, ensuring the seamless execution of our seminars. Godawan by Diageo added ꧒a touch of celebration to our events, enriching the overall experience for our participants.
Gifting Partners
We extend our heartfelt gratitude to our exceptional gifting partners who added a personal touch to the EotF 2024 initiative. Madhujayanti delighted our participants with premium tea boxes, offering a moment of refreshment and reflection. Good Glam provided luxurious skin care p🍌roducts, emphasizing the importance of personal wellness. Just Nuts contributed a selection of premium honey and dry fruits, symbolizing natural health and nutrition. GoQii added a technological wellness element with their innovative watches, underlining the int🐈ersection of health, technology, and personal care. These partners not only enhanced the participant experience but also reinforced the event's commitment to holistic well-being and appreciation.
Looking Ahead
The Employers of the Future study and the subsequꦓent events in Mumbai and Hyderabad and Gurugram in association with Outlook Business Magazine have set a new benchmark for organizational excellence in India. By demonstrating that successful organizations of tomorrow can effectively balance technological advancement with human-centric approaches, sustainability with profitability, and individual well-being with organizational productivity.
As organizations continue to navigate the evolving workplace landscape, the insights and recommendations from these events serve as valuable guideposts. The success stori🐲es and strategies shared by participating organizations offer practical frameworks for o🧔thers to emulate and adapt.
The journey toward becoming an Employers of the Future is ongoing, requiring constant adaptation and refinement of approaches.🦩 As we look to the future, it's evident that organizations that embrace these insights and recommendations will be better positioned to thrive in an increasingly complex business environment.
