A lack of bench strength in leadership roles is a serious concern for Indian businesses, according to a Deloitte report.
Organisational design tops the list of the most important Human Capital Trends in the country, followed by Learning and Culture, the report titled ‘Human Capital Trends 2016 – The New Organisation: Different by Design’ said today.
The leadership challenge remains with 68 per cent of respondents across India expressing concerns about their leadership bench strength, it said.
“The need of the hour is to invest in and deliver high impact programs addressing the needs of leaders at every level including senior leaders, next generation leaders, women and diverse leaders, and millennial leaders – expanding exposure to challenges including global skills and experiences and rapidly changing technologies,” the report added.
Deloitte in India conducted the fourth annual Human Capital Trends survey in partnership with National Human Resource Development (NHRD) Network.
The India trends report analyses responses from 239 leaders from across India who took part in a comprehensive global survey of more than 7,000 business and HR leaders in over 130 countries in the fourth quarter of 2015.
It further said that in India, culture ranked several places ahead of engagement at 88 per cent in terms of importance. More than 8 in 10 organisations in India see culture as being “important” or “very important”.
“Yet, only 35 per cent of organisations believe they understand their culture well and only 22 per cent believe they are “very ready” to change it,” the report said.
Leadership, which was the most important trend last year, fell to number four this year in the ranking with almost the same percentage of importance in the survey (88 per cent).
While the relative rank of HR organisations’ capability building dropped six places, the survey reported the emergence of new priorities and capabilities including organisation design, design thinking and managing the growing temporary and contract workforce (gig economy).
“While the respondents this year are generally satisfied with the performance and capabilities of HR, this is paired with a trend towards driving more investment to HR- indicating improving prospects for innovation and development in the function in the coming year,” said S V Nathan, Senior Director and Chief Talent Officer, Deloitte India.