NHRD Journal - National HRD Network
NHRD Journal - National HRD Network
NHRD Journal - National HRD Network
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CHALLENGE OF MANAGING<br />
ORGANIZATIONAL PREPAREDNESS-ICICI<br />
K RAM KUMAR<br />
Abstract<br />
In this article we look at the changes that are happening in terms of socio - economic,<br />
educational, and demographic aspects of the society and organizational ecosystem and the<br />
associated changes needed in the mind set of managing an organization. Drawing up on the<br />
case of the financial services industry and specifically of ICICI, the changes required and<br />
expectations from HR, employees, and top management are described. The various<br />
interventions that are aligned to this change are also described here.<br />
K Ramkumar is the<br />
Group-Chief Human<br />
Resources Officer at<br />
ICICI Bank.He has 22<br />
years of work experience<br />
in private and public<br />
sector industries. He has<br />
earlier worked in<br />
Hindustan Aeronautics,<br />
Hindustan Lever<br />
Limited, and ICI India<br />
Ltd. Apart from human<br />
resources, Ramkumar<br />
has also had exposure in<br />
managing<br />
manufacturing plants.<br />
Introduction<br />
India finds itself in a unique phase<br />
in its existence viz being in the<br />
vanguard of not only the Asian<br />
economic growth but also the<br />
Global economic hope. For the first<br />
time, its demographics and<br />
reservoir of human talent is turning<br />
out be a huge strength. A neardouble-digit<br />
GDP growth is<br />
powered by the service sector and<br />
the resurgent manufacturing<br />
sector. By 2020 Indian population<br />
will have an average age of 28 years.<br />
Currently 60% of the population<br />
has more than 30 years of<br />
productive work life. Rarely has<br />
any country had 500 million people<br />
with so much productive work life.<br />
However the galloping economic<br />
growth and the young demography<br />
brings along with its challenges.<br />
These challenges are linked to socioeconomic,<br />
educational, and<br />
demographic aspects of the society and<br />
organizational ecosystem.<br />
Education<br />
A broken education system which<br />
does not have any relevance to the<br />
new economy.<br />
India<br />
produces 3 million graduates and<br />
half a million engineers annually.<br />
India's pool of university graduates<br />
(