Bhavya Mishra, CHRO of Godrej Capital, brings over 15 years of HR expertise spanning various industries, including Technology, FMCG, and Retail. Before her current role, she held key leadership positions at global corporations such as Lenovo and PepsiCo, where she spearheaded HR functions across multiple regions. In this interview, with Bhavya who is one of our esteemed speakers at People Matters TechHR India, we delve into her insights on navigating workplace paradoxes and tackling the evolving challenges of the labour market.
Here are some excerpts from the conversation.
As the labour market undergoes rapid transformations, what proactive measures are you taking at Godrej Capital to anticipate and address emerging workforce challenges?
The world of work is like a roller coaster ride – exciting, fast-paced, and sometimes a little nerve-wracking! At Godrej Capital, we see this constant evolution not as a scary drop, but as a thrilling opportunity to grow. So, to address workforce challenges, we work on two key areas:
First, we prioritise upskilling and reskilling initiatives through a variety of training programmes, seminars, and webinars. This ensures our employees stay updated with the latest industry trends and developments. Secondly, we promote work-life integration by offering flexible work policies that enable our employees to balance their professional and personal lives effectively.
Additionally, we also focus on internal hiring, providing opportunities for career advancement and growth. Our industry-leading health and caregiving practices contribute to a positive and inclusive employee experience. Our proactive measures ensure that we can anticipate and address emerging workforce challenges effectively, maintaining a motivated and engaged workforce at Godrej Capital. Ultimately, we can’t just rely on yesterday’s solutions for tomorrow’s challenges. As the work landscape keeps evolving, we adapt our strategies to fit the needs of our team and take pride in being agile to drive changes, as required.
With diversity and inclusion becoming paramount in today’s workplace, what are some best practices for embedding DEI principles into the cultural fabric and ensuring there is change right from the grassroots level?
Diversity, Equity, and Inclusion (DEI) aren’t just buzzwords but are fundamental to our culture at Godrej Capital. We believe in building a workplace that enables employees to bring their whole selves to work, and hence building a workforce that mirrors the diversity of the communities we serve.
This approach has enabled us to achieve an overall diversity rate of 27%, surpassing the sector average.
Our commitment to DEI is also reflected in our leadership team, which boasts over 40% female representation, demonstrating some of the highest percentages of DEI representation across the country. Meanwhile, out of the 1000+ employees, we have over 3.5% representation from LGBTQIA+ and PWD candidates, again higher than the industry average. These employees hold key positions and important roles, with the management ensuring a bias-free environment.
To reach this goal, we go beyond traditional hiring methods by looking for top talent through mediums like LinkedIn and partnering with organisations dedicated to underrepresented groups. This strategy helps us attract talented individuals from diverse backgrounds, organisations, and regions. For instance, during Pride Month in June, we organised a hiring drive specifically for the LGBTQIA+ community. Additionally, we also prioritise the representation of women and actively recruit persons with disabilities (PWD). Notably, inclusion extends beyond hiring. We promote a welcoming environment through bias training and employee resource groups, ensuring that every unique perspective is valued and celebrated.
Given your experience across diverse sectors, how do you anticipate technology advancements shaping the future of HR practices at Godrej Capital, particularly in terms of talent acquisition, performance management, and employee engagement?
Technology will continue to disrupt and redefine how we work and hence the HR practices. However, our business strategy and enabling the same to drive growth remains at the centre of what we do, in HR and across functions. We look at tech as a great enabler of employee experience across the entire value chain of HR, including but not limited to talent acquisition, performance and engagement. So, we will continue to enhance our tech integration as well as our systems, as we grow.
In talent acquisition, technology plays a pivotal role in aligning our hiring strategy with evolving trends. By leveraging advanced tools and automation, we streamline recruitment processes, enhance candidate sourcing, and improve matching accuracy. For instance, tech-enabled platforms can screen resumes, schedule interviews, and provide data-driven insights, allowing us to identify the best candidates more efficiently. This technological integration ensures our recruitment efforts are not only swift and efficient but also strategically aligned with our business objectives.
In terms of performance management, as we rapidly expand across product offerings and geographies, technology will continue to play a critical role within the HR function. With automation, we maintain real-time performance tracking and continuous feedback. This enhances our ability to recognise achievements and address areas for improvement, promptly. Having said that, we are committed to striking the right balance between technology and the human touch, ensuring personalised and meaningful performance management.
To enable efficient employee engagement, we leverage digital platforms to enhance communication and collaboration. Tools such as internal social networks and employee portals keep our workforce connected and informed. Additionally, regular surveys and feedback mechanisms provide insights into employee morale, enabling us to take proactive measures to foster a positive work environment.
Overall, at Godrej Capital, our focus is on integrating technology thoughtfully to support our growth while maintaining a strong human element in all our HR practices. This balanced approach ensures that we attract, retain, and engage top talent effectively.
As organisations navigate the challenges of the digital age, how can we foster a culture of continuous learning and development to ensure that employees are equipped with the skills needed to thrive in an ever-changing environment?
The importance of learning and development in an organisation cannot be overstated. It’s important to build a culture where learning is like a life jacket – always there, easy to grab, and something everyone is encouraged to use. With Godrej Capital Learning Academy, we aim to do exactly that. We go beyond generic courses and focus on upskilling and reskilling tailored to each individual’s unique needs.
Additionally, we also foster a safe space for open communication, where timely performance evaluations and feedback become fuel for one’s growth. Crucially, managers are key players here. They must provide inputs and opportunities that keep their team members on top of their game in this ever-changing digital landscape.
In essence, fostering a growth and solution-oriented mindset lies at the heart of every company’s success.
How can HR leaders leverage Generative AI in HR practices to enhance decision-making, talent management, and foster innovation while ensuring its ethical use?
As a tech-first company, we have been advocates of technology adoption since our inception. Today, Godrej Capital is one of the fastest-growing companies and recently exceeded employee count of 1000. This growth has been made possible due to the technology and automation being central to our operations; and this extends to HR function as well.
Currently, we have made significant strides in enhancing efficiency through advanced data and analytics, and we are poised to adopt AI/Gen-AI in the near future. Our existing strategies include automating systems, streamlining feedback mechanisms, and maintaining detailed performance records. However, we ensure that our employees do not lose the personal touch and that we use technology responsibly.
In line with our People Matters TechHR India theme, if you had one piece of advice to give HR leaders on how they can move from inspiration to action in their people strategies, what would that be?
A deep understanding of business and its core levers is key to building an impactful HR strategy and actions. To move from inspiration to action in their people strategies, HR leaders should prioritise data-driven decision-making.
Additionally, fostering a culture of continuous feedback and open communication ensures that employees feel heard and valued, driving higher engagement and retention. Ultimately, combining data insights with a human-centred approach enables HR leaders to create impactful people-strategies that align with organisational goals.
To learn more strategies that empower you to win in the future of work, join us at the People Matters TechHR India 2024 this 1st and 2nd August at the Leela Ambience, Gurgaon.
This is your chance to meet Bhavya Mishra and unlock more of her learnings on champion continuous innovation and growth in a dynamic and tech-driven talent landscape. Register Now!