Aniket Pujari
These three essential elements form the foundation for creating a resilient, adaptable, and high performing organisation. To discuss further on the 3Cs of growth, we have gathered key insights from an engaging panel discussion comprising industry leaders – Anandorup Ghose (Partner, CHRO Program Leader, Deloitte India), Paras Kaushik (Chief Human Resources Officer, HT Media), and Achyuta Ghosh (Senior Director and Head, Insights with Nasscom).
Three Cs for fostering organisational growth
The success of any organisation largely depends on three key elements – Capacity, Capability and Culture. Each of these elements contribute to scaling businesses efficiently, fostering innovation through talent and aligning company culture with long-term objectives.
The capacity element focuses on building the organization’s capacity as well as ensuring that employees have the necessary skills and tools to run the organisation smoothly and efficiently. The capability element involves fostering strong partnerships and relationships within the organisation and aligning workflows with the needs of the modern business world. The culture element emphasizes building a positive environment that supports employee development and well-being.
Common challenges in scaling up
While companies focus on growth, they often look at restructuring their operations, employee upskilling, data management, and technology adoption like Generative AI, among others. While tackling these areas, companies face lot of challenges.
According to Anandorup Ghose, “The biggest challenge company’s face is the skill development gap. There is a lack of trained and capable workforce to meet the growing demands of business. Besides, leaders need to understand that they cannot solve problems with functional thinking. Today’s business landscape requires collective thinking where teams work cross-functionally.”
Another capability challenge is keeping up with fast-evolving technologies like AI, Automation, Cloud, Big Data, Cyber Security, etc. According to Achyuta Ghosh, “There is almost 50% technology skill gap that restricts companies from leveraging these advanced technologies. To bridge this gap and build capability, companies need to up skilling their employees by offering internal and external training.”
Watch the highlights here:
How are organisations evolving?
While talking about capacities, Paras Kaushik highlights interesting points on how organisations are shifting the way they work. He adds, “In order to meet demand surges and capacities, organisations are channelizing their focus on three major pillars – people, technology and processes.”
Since an organisation’s workforce is its biggest asset, companies are working on the mindsets of their workforce. They are training their people to become more adaptable and resilient to change. In fact, leadership is playing a crucial role in reinforce this message consistently.
Anandorup Ghose adds an interesting fact on people training saying, “soft skills training has a greater and longer-lasting impact on career and organizational success than technical or functional learning.”
Organisations are also working towards developing their culture. Since an organisation’s culture is defined by its people, organizations today are trying to create a very holistic employee value proposition around culture. According to Achyuta Ghosh, “The key to building a successful organisational culture is identifying behaviours and creating personalised engagement plans and customised messaging to appeal each of your audience segments.”
Conclusion
The third edition of Deloitte Coalesce 2024 was all about exploring the critical challenges that organisations face and collaborating and co-creating innovative solutions to foster growth. For a detailed learning and valuable insights, click on the link and watch the panel discussion.
Note: This is a partnered post.
