Business
Retailers Association of India’s 10th edition of Manning Modern Retail summit in Mumbai uncovers top three trends in people practices
(L-R) Kailash Kulkarni, CEO, L&T Investment Management; Aslam Karmali, CEO, Direct Sales and Senior Vice President – Marketing, Eureka Forbes Ltd.; Prasenjit Bhattacharya, CEO, Great Place To Work Institute, India; Ashutosh Telang, Chief Human Resources Officer, Marico India; Deepak Reddy, Chief – Human Resource, Administration & Group Learning Academy, Bajaj Finserve and Kumar Rajagopalan, CEO, Retailers Association of India
Trends that can help retail organisations be future ready
Thursday, September 1, 2016, Mumbai: The Retailers Association of India (RAI), a unified voice for small, independent and large retail businesses, today hosted the 10th edition of the Manning Modern Retail conference in Mumbai on the theme “Building Future Ready Retail Organizations“.
Eminent CEOs and HR heads of leading retail businesses convened to discuss Building Future Ready Retail Organizations and set a vision for HR in the sector. The Summit uncovered the three new imperatives of people practices to help retail organisations be ready for the future:
Hiring for attitude: “Recruiting for IQ and EQ is not enough anymore. TO create future ready organisations, we need to recruit for AQ – Adversity Quotient. It means we need to hire people who have the attitude to see adversity as opportunity and plan to capitalize on it,” said Aslam Karmali, CEO, Direct Sales and Senior Vice President, Marketing Eureka Forbes Ltd.
Project-based appraisals: “If we don’t know what’s going to happen tomorrow, have can we make a 5-year plan and assess performance according to it?,” asked B S Nagesh, Chairman – RAI; Founder – TRRAIN in his keynote address to MMR 2016. He predicted that soon, considering the VUCA (Volatile Unpredictable, Complex and Ambiguous) business environment, we need to prepare for shorter business cycles. Soon, organisations will be appraising people on projects completed rather than waiting to assess their performance at the end of the year. “This will help organisations be nimble and flexible,” he said.
Alignment to customers rather than goals: Gone are the days when teams and hierarchy in the organisation were aligned to the company vision or business goals. “As an organisation, if all your management levels, especially the top-management, are not aligned to their customers in age and attitude, then they have no business being there. Ensure that all employees are able to think like customers and think young – because that’s going to be your main customer base,”
Speaking about the summit and the trends, Kumar Rajagopalan, CEO, RAI, said “The customer is changing, the market is changing as well as the technology is changing. Therefore, it’s imperative that the way we hire and nurture talent needs to changes too. At MMR 2016 HR leaders across different formats of retail and other service-driven industries freely exchanged ideas on people practices that will help organisations to anticipate uncertainties of the future and thrive. There were a lot of insights that HR leaders could back and implement at their workplaces.”
Through its power-packed sessions the Conclave covered some very interesting issues relevant to today’s HR, not just in retail but across industries.
Other highlights of the event included :
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Release of the RAI-Complykaro handbook ‘Sexual Harassment of Women at Workplace at the hands of Vishal Kedia.
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A talk by Ambi Parmeswaran, veteran ad man and author Nawab, Nudes and Noodles on what How HR can learn to map Societal Trends for Talent Management.
This year, Manning Modern Retail (MMR), presented the 1st ever Retail HR Awards which recognises the shining stars of Retail HR. The awards were presented in two categories HR Emerging leaders Awards and HR Breakthrough Awards. The top 3 finalist under each category presented in front of the Jury and winners are as follows: HR Emerging Leaders award was presented to Aradhna Pujari, TCNS Clothing and HR Breakthrough Awards to MaX( Landmark Group).
The Summit witnessed other interesting sessions like The Breakfast Alchemy: Increasing revenue per employee in Indian Retail Talent Scarcity, Incentives at Work: A retail sector perspective and Digital transformation and challenges 2020.
As retail copes with a dynamic, digital VUCA world, MMR 2016 encouraged HR leaders to abandon traditional perspective on HR and embrace new ideas and practices towards people management in HR that will help Retail ready for the future but also make it one of the most preferred employer in the country.
Manning Modern Retail (MMR) is an HR Conclave focused on developing ideas and resource capabilities to understand the retail industry’s most pressing issues around people practices. It is also the most effective platform for convergence between Retail Education institutes, various skill development efforts of government and the industry. Over the years, it has gained the reputation of being the most prestigious platform for exchange on perspectives between multiple stakeholders including CEOs, CPOs, Academia, Thought Leaders and Operating Managers on HR in retail.
Retailers Association of India (RAI) is the unified voice of Indian retailers. RAI works with all the stakeholders for creating the right environment for the growth of the modern retail industry in India. It is a strong advocate for retailing in India and works with all levels of government and stakeholders with the aim to support employment growth and career opportunities in retail, to promote and sustain retail investments in communities from coast-to-coast, and to enhance consumer choice and industry competitiveness.
