‘Companies need to Change their Mindset to Counter Disruptive Business Trend’

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‘Companies need to Change their Mindset to Counter Disruptive  Business Trend’

August 22: At a time when many companies are facing challenges due to evolving disruptive business trend with rapid development in technology, many such companies have come up with new ideas and practices to adjust in the changed context.

Human resource (HR) representatives of different companies participating in the ‘82nd HR KuraKani on International Practices in HR and Way Forward for Nepal’ organised by Real Solutions Pvt Ltd in Kathmandu on Wednesday emphasized on the need of incorporating and assimilating a hybrid mindset and sweeping changes in HR practices to cope with the new challenges.

Speaking at the event, HR manager of Millennium Challenge Account (MCA) Shalav Risal , one of the panelists, shared that the traditional mindset of doing business and HR practices have to be changed from top level. He shared that today’s young generation or the millennium group is more open minded and trendy. So, a hybrid mindset needs to be incorporated in HR practices to cope with the changing trend in business model, according to Risal.

Another panelist from India, Radhika Jaggi, business head of Society for Human Resource Management (SHRM), also shed light on the threats and opportunities of artificial intelligent (AI). She warned that AI is going to replace many jobs in the age of digitalization. She stressed on bringing changes in learning behavior and development pattern of the companies.

Meanwhile, moderator of the panel discussion, Rajnish Rikhy, business director of Kantipur Media Group, shared that AI, which is taken as a fear factor of losing job, itself can create lots of job opportunities for the intellectuals. He shared that the same AI can add value to the business. He said, “Volatility, uncertainty, complexity and ambiguity (VUCA) are the actual challenges for business organisations today especially for the businesses with traditional mindset. So, the business companies need to be prepared and opt for hybrid mindset, understand employees and be flexible to adapt to the emerging trend.”

Another panelist, SR Singhvi of Ghorahi Cement,stressed the need realize employees’ perception. Sharing the HR practices and challenges in his company, Singhivi emphasized on periodic survey to know the perception.

“Employees of any company should be trained at least for four times in a year,” shared Singhvi.

Likewise, HR Manager of Huawei Technologies Nepal, Anushree Tamrakar, stressed on high level mentorship, close communication between employees and employers and also understanding each other’s mindset.

 

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