Ajay Srinivasan: How to deal with implications of Covid 19 in Business!
Mr. Ajay Srinivasan, Aditya Birla Capital, Chief Executive, has recently given a detailed overview of Covid 19 impacts on business and public life. Read on to know more!
Consider a situation that requires your company's workers to modify their working habits well almost instantaneously. Despite your initial concerns that the strain would be too much, you learn that this new style of working may be a long-term plan. That is what many business executives across the world are discovering as they react to the COVID-19 situation.
Mr. Ajay Srinivasan, Aditya Birla Capital, Chief Executive, has recently given a more detailed overview of Covid 19 impacts on business and public life. The key five pointers that he discussed are Remote working, the employer's responsibility in worker well-being, building a feeling of connection and involvement, workplace flexibility and diversity, and the need to reconsider reskilling and training are all discussed.
According to Ajay Srinivasan, although vaccinations have contributed to diminishing fear and stress about the virus, he says that surprising new genetic changes remain a source of concern. As a result, the pandemic has impacted the workplace in a variety of ways. Lockdowns prompted schools, universities, and companies to relocate to private residences, integrating the work within their personal spaces.
The line between work and life grew progressively blurred as workers were compelled to work remotely for extended periods of time. Aditya Birla Capital Limited, as a commercial organization providing financial services in the sector, was forced to work through the pandemic, and the firm's personnel practices have evolved. Work from home, gig work, flexi work, bots, work from anywhere, and more are all now prevalent in the hybrid workplace.
As individuals and families faced problems as a result of the pandemic, Aditya Birla Capital Limited became increasingly concerned about their well-being. While the company built many support channels during the outbreak, its focus has now switched to its employees' overall health and well-being. Moreover, they have created a holistic wellness program that can assess staff health and then give health coaching to those who need it to improve their general well-being, says Ajay Srinivasan.
In the last 18 months, the working environment has increased the demand for employees to feel engaged, as well as the need for the organization to increase connection and involvement. They discovered that it is difficult to create and maintain employee retention and connection online. To fight this, Ajay Srinivasan, with the assistance of his team, has established a method in which senior executives in the organization reach out to their personnel for informal check-ins and chats outside of work. In the new world, leaders' ties with their followers must become deeper, and those who can build a profound emotional bond with their teams will gain a competitive advantage, according to the Aditya Birla Capital, Chief Executive.
Another lesson learned from the epidemic is the need for a more adaptive and inclusive policy. Many people in the field have expressed a desire to work remotely in the last 18 months. This flexibility was included in their HR policy. An inclusive mindset that is open to new viewpoints and ideas is vital for tapping into the wisdom and experience inside the organization.
Aditya Birla Capital has widened its worker mix to include career returns and people with disabilities, in addition to prioritizing gender diversity. This has enabled the company to tap into a bigger talent pool and adapt rapidly to evolving business needs. Furthermore, they have conducted extended learning workshops to boost knowledge and expertise in managing a diverse workforce and to improve the inclusion culture.
As we all know, in recent times, organizations' digital quotients have increased. To be competitive, managers must be +Tech Leaders. Managers and teams who do not invest in becoming technologically adept will be well equipped to survive in an environment that will no longer operate. Developing cooperative skills in the workplace has also become significantly more important than it was earlier. The learning and development activities of Aditya Birla are now totally virtual.
The company's involvement in DART skills (Digital, Analytics, Risk, and Technology) has considerably increased, as has its concentration on ABC (AI/ML, Blockchain, and Cloud). They've also started to stress future-oriented skills like Design Thinking, Digital Engineering, Product Design, Digital Marketing, and Experience Design.
According to Mr. Ajay Srinivasan, the pandemic has driven every organization and business manager to think differently and forsake outdated procedures. In the future, the most essential request from businesses will be for re-imagination. Every industry has been forced to reconsider its tried-and-true business strategy.
The pandemic has shown that the world will get more complex and unpredictable in the near future. Businesses will need to rethink all they have previously assumed in order to flourish in a complex future. Firms that are able to do so will not just exist but thrive in the new climate. As history has demonstrated, every age of tragedy pulls the best out of the man's ability—Ajay Srinivasan concludes.