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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 />

(

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