Trends to Watch

India: Positioning to Do Business in a Digital World

Preparing business operations and talent acquisition to “go digital” is the overarching theme driving today’s business trends in India.

That’s according to a recent survey of some 600 business leaders from across India. The survey was conducted by Deloitte in India in collaboration with National Human Resource Development (NHRD) Network.

“Beyond digitizing HR platforms and nurturing digital workplaces and technology-savvy workforces, the focus is now on investing in technology that can help further efficiency levels of its human resources. With advances in this realm and clear benefits of embracing technology, there is an increased level of acceptance of the concept of truly digital organizations,” noted Dhananjay Singh, Director General, National HRD Network. “Job role redesign is in the cards.”

The study found that virtually every Indian company surveyed (96%) acknowledged the need to redesign their organization to succeed in a digital world. Yet many continue to struggle with how to do that. Only 14% said they felt fully capable of redesigning their company for the future.

Related: Survey: Mobile Assignments on the Rise in India

Addressing talent acquisition and what researchers dubbed “the augmented workforce” ranked among the top areas of focus as Indian companies adapt to the digital reality in an era of rapid growth. In positioning to compete for top talent globally, Indian businesses are rapidly adjusting their talent acquisition strategies. In fact, some 88% have recently updated or are currently updating their talent acquisition and programs.

“The explosion of mobile data in India has meant that professionals are increasingly more willing to engage on social media and thus are more accessible to recruiters than ever before,” the report noted.

But not all of those hires will be traditional onsite payroll employees. As innovation and technology fundamentally change jobs and how they are done, the gig economy is emerging as a key segment of India’s augmented workforce. Nearly three-fourths (72%) of Indian businesses surveyed expect an increase in the use of contingent, outsourced, contracted employees in the near term. And half already are leveraging part-time and contingent workers to fill talent gaps.

Related: Navigate Mobility in a Protectionist World at the India Global Mobility Summit

India’s young—and getting younger—population offers a prime pool of workers to fill talent gaps for talent mobility specialists. India is expected to be the youngest country in the world by 2021, with 64% of its population millennials. “Most employees today, especially the younger ones, want to be in control of their careers,” researchers noted. In this highly competitive market for top talent, successful talent mobility strategies must integrate flexible career paths that offer work/life balance, creativity and purpose to the employee experience.“

Want to discuss the latest mobility and digital trends in India with noted experts? Attend the 2018 India Global Mobility Summit this October in Bengaluru. Register today to join the conversation and learn mobility best practices from some of the world’s best.

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