Challenges for HR - Post Covid 19

Covid 19 and the lock down has adversely affected life in general including the livelihood of people all over the world. Locked down businesses  take time to limp back to normalcy. The schedules for delivering a company's products and the supply chain for receiving raw materials have all gone for a toss. Under these circumstances the role and challenges of HR also is bound to be different. I attended two or three webinars during lock down period  that discussed this subject . Although no one can tell for sure how the future will pan out, calculated or if you prefer educated guesses of experts could be a pointer for putting our best foot forward as we tackle an uncertain future.

I would like to share the following insights gained from experts in the webinars  by way of bullet points :-   

• The approach of HR has essentially to be based on the manner and extent to which the business of the company they are working for, has been impacted by the crisis. 
• Some of the challenges that business could face is the raising of capital.Venture capitalists are likely to be more conservative in investing.
• Job creation would be adversely affected and expansion plans put on hold.
• It would be important to sustain MSMEs (Micro, small and medium enterprises) in spite of challenges, as it is in this sector that more jobs are created. 
• An important challenge would be replacing the migrant workmen as many of them have returned to their native places.
• Financial costs are expected to be up by 10%. The challenge is to move the wheels of commerce to the old levels gradually.
• We could hope for diversification of supply chain management leading to some of the orders being diverted from China to India. 
• The new requirement would be for leaders who are adaptive. Those who play fair, take responsibility and have fun. HR has to focus on fulfilling this requirement.
•  Covid has added to the "high degree of  unpredictability" and VUCA would be the new normal.
• Employees are expected to be a lot more stressed and addressing this would be HR's  priority.
• HR has to contribute to solving of the new challenges such as managing costs, supply chain issues, manpower availability and weakening of Rupee. 
• It is important to achieve digital maturity at the earliest (Digital maturity is about adapting the organization to effectively compete in an increasingly digital environment).
• It is believed that 47% of the jobs will disappear and new ones will emerge. 
• In this scenario HR will have to plan for a flatter organization, networking of teams and "Gig economy" working. 
• By 2025, 75% of the work force will be millennials and HR would need to understand their nature of working/ drives and address their needs  effectively.  
• Reassurance and counselling may have to be provided to address issues of insecurity, fear, doubt or worry.
• Online learning is likely to increase with increased use of gamefication.
• HR needs to prepare its employees quickly towards a 'Digital mindset'. 
• It is an opportunity to engage in agile  retrospective (reflect on way of working and continuously become better) and renewal. Take L&D initiatives to proactively prepare the organization. 
• HR should sit in on business meetings ask relevant questions, purposefully initiate conversations in order to contribute meaningfully. 
• HR needs to build credibility in the organization so that people listen to them. 
• At the company level "What next" and "What else" questions can be asked for taking risks and being agile.