Deep Bhandari: Human capital holds the highest value for organizations

DigiStorm 2018 was held on 11 September at the Lalit Ashok in Bangalore. The event was headlined by Prabir Jha – President & Global Chief People Officer, Cipla. Deep Bhandari – Editorial Board Member, MedicinMan, gives us the highlights of the post-lunch session.

Business leaders face the constant challenge of making strategic decisions about not only where to invest now but also where to lay the foundations for their company’s future success.

That, increasingly, has required them to seek answers to critical questions about the future of work—and about what role humans may play in it.

This issue looms large over organizations because technology has assumed such a dominant role in global workplaces, seeming almost to render people obsolete.

We have witnessed unprecedented pressure on business leaders to improve their performance and growth to generate stakeholder value for their companies.

As productivity remains a critical challenge, business leaders must explore possibilities in digital to discover unrealized value for the patients and boost performance and productivity.

Technology has become a core focus of the collective vision for high-performance organization, particularly in automating processes traditionally undertaken by humans, or in augmenting human tasks to create efficiencies.

Although organizations put technology in the spotlight in the future of work, it is, in fact, human capital that holds the greatest value for organizations now and in the future.

The performance of people can be influenced; hence it has great potential. By creating the right environments, business leaders can raise performance and release discretionary effort.

Although organizations put technology in the spotlight in the future of work, it is, in fact, human capital that holds the greatest value for organizations now and in the future.

The performance of people can be influenced; hence it has great potential. By creating the right environments, business leaders can raise performance and release discretionary effort.

The real challenge for business leaders is how they can influence people’s performance by creating the right environments. Leaders who are equipped with these insights should consider how to create a high-value partnership, as they look to invest time and financial resources wisely to harness the value of both human and physical capital in the future of work.

The Four Key Insights to build capabilities in this interconnected world are:

Visible integrity and ethical behavior
Moving from life stages to life choices – blended experience and new learning
Growth mind-set – focus on improving new skills and accepting new challenges
Collaboration – building diverse carefully network sharing and asking new learnings