In an exclusive interaction with SCIKEY, Dr. Haresh speaks about the future job landscape, his view on the adaptability of the gig economy and why employee experience is a must for companies.
We have seen an increase in the number of job losses across the globe. How will this be different once the crisis comes to an end? What would be the job landscape like?
Job loss is a temporary phenomenon that may have a lasting effect for the next 2-3 years. Once our current crisis is taken care of, the economy will be on the rebound resulting in the demand for jobs. The job landscape of the future will be much different than today but there will be demand of new and varied skills. People need to acquire skills that will help them become adjustable to unexpected situations. For example, none of the companies in the world were aware of Corona, but we have found ways to adjust to it. In the future, too, individuals will have to adjust and develop new skill sets as per the demand of the situation to produce results.
Many organizations leaders are seeing opportunities emerging in addition to challenges. What opportunities do you see emerging from this crisis?
Everyone is taking some advantage of this crisis in their way, and this is a fact. The opportunity I see emerging is the opportunity to work from home, which massively reduces the costs incurred by organizations. This has made organizations think of things differently, paying more attention to the impact part of their decision.
All of this will help in rotating the economy as well.
Data suggests that there has been a 28% increase in the Gig workforce’s demand in Q1 2020 over Q1 2019, which includes contract employees. How do you foresee this trend, considering new workplace and work dynamics due to COVID?
This can be advantageous to both the employer and the employee as both function on fulfilling the expectations of the opposite party. The millennial generation wants continuous productive work and is constantly looking for challenges. They prefer working with varied employers which will entice them going ahead.
For employers, it is a way to be cost-effective. Instead of hiring someone on a permanent basis, the costs of whom need to be borne by the company; it is best to hire skilled individuals on a contract-based policy. Although I see the trend rising in the future, it will still take a while to be adopted completely as the trust factor between the employer and the employee may first need to be created.
On one side, we see retrenchment , on the other side, improving employee experience can be seen as a top consideration for business leaders? Is it that employee experience has become even more critical than ever, if so then why?
Employee experience is a must for employees. Even as they are working from home, employee experience is an aspect that should be taken care of. One needs to check regularly as to what can be done to enhance their experience with the company. Many times, employees find their grievances not resolved on time or having to go through multiple levels before they find a solution. In the time of technology that we live in, all of this should be made available to the employee at the touch of a button on their phones.
Processes, too, need to become easier because employees do not have the time, patience, and at times, accessibility, required to go through them.
This applies to employees that work with you currently and those moving to other companies, as they must leave with a feel-good feeling of having worked at your organization.
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