The Hindu Business Line : ‘Astute HR can optimise workforce’

Kochi, Nov. 17 IBS Kochi is organising the fourth Academy-Industry interface seminars on Tuesday. The seminar is being organised in the backdrop of India becoming one of the fastest growing economies in the world with a labour force of 509 million, which is providing significant market opportunity for HR solutions.

The seminar is expected to provide an opportunity for practising managers and management students to keep abreast of the latest developments in areas of HR management and practices. A committed workforce is the pre-requisite for any successful organisation and they constitute the most strategic asset of any industry, especially service industry, a press release from IBS said.

While it has generated considerable opportunities for the economy that is in the cusp of a major development cycle, it also poses major challenges in areas such as scheduling and reducing its impact on product costing.

From an aggregate of individual workforce, astute HR can transform the total workforce into a power house for company’s operations. Management of the workforce is also important because they represent the most demand-elastic component of business expenses and are also the prime drivers of value creation.

By aligning workforce with other demand drivers, the organisation can reduce costs and optimise business operations.

Transformed role

The demand for vertical solutions in workforce management for industries such as manufacturing, healthcare, retail and services is growing faster than ever. The role of HR has been transformed to alerting organisations about the training requirements of employees, tracking labour performance, improving the workforce visibility, mapping their activity, appropriate scheduling, budgeting and forecasting the needs of the workforce.

Manual scheduling is error prone and is a strain on both store productivity as well as customer services, the release said.

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