In conversation with esteemed professors, one having extraordinary records in research papers and the other with numerous accolades in journals, both had a view on how people can infuse strategies related to automation, AI and how these strategies could be implemented keeping HR as the human capital leader.
The first session was from Professor Satish Kumar, Associate Professor, MNIT Jaipur, and Associate Editor for Qualitative Research in Financial Markets (QRFM). He has also completed various Sponsored Research projects from ICSSR. He has published almost 80 research papers in various highly cited Journals.
Prof. Kumar began his session by explaining that though this pandemic has affected the World economy and Global businesses, it has also opened the gates to a plethora of research opportunities, especially in the fields of Fintech, Sustainable Finance, ESG, Green Finance, and Supply Chain Finance, and how the research in these areas can help the businesses to recover quickly.
The talk by Prof. Kumar entailed Internet Finance, Blockchain, Cryptocurrencies, and how the R&D in IT Financial Management (ITFM) will help in cost reduction and increase profitability. He focused on the importance of Corporate Governance and how Gender Diversity in the Board improves the Firm’s performance.
He went further to elucidate personal finance & financial literacy and how these are neglected upon fields but are very important for even a common man. He emphasized on the growth of Green Finance, ESG performance, and how they will not only help in better sustainability for the environment but even improve the firm’s profitability in the long run. He concluded the session by shedding light on Supply chain disruptions and liquidity crunches during the pandemic and how Supply Chain Finance is a Win-Win for everyone.
The next session was of Mr. Vijay Pereira, professor of International and Strategic Human Capital Management in the People and Organization Department of Neoma Business School. He is currently on the Editorial and Advisory Board for the Journals Production and Operations Management, which is listed in Financial Times.
Prof. Pereira made us realize that every responsibility lies at the door of HR. HR will have to come out of its comfort zone, and adapt to the uncertainties as firms look up to it among all disruptions. He believes that even if the next crisis arises, designing and implementing relevant strategies will make HR more resilient and agile. With a classic example of the agility, flexibility, and resiliency of Toyota and TCS, he emphasized the well-being of people which could be achieved by being more humane.
Prof. Pereira emphasized HR being a leader and even after new roles being added to the HR community, HR remained the leader amongst all the roles. It is the responsibility of HR to manage change diversity and be on top of laws. Additionally, he exemplified the implementation of these models by giving an overall bird’s eye view of the prevalent concepts. He believes that creating value for employees, customers, investors, and organizations during a crisis was extremely essential.
Proactive responsiveness will make HR ready to embrace the upcoming challenges resulting in positive transformation. Being a value-driven person, he ended the session by firmly believing that agility, flexibility, and resiliency are the skills to embrace during and post-pandemic.
The students were infused with the ideas of how to include agility, flexibility and resiliency in the times of disruption be it in personal finance or while facing challenges in Supply chain finance.