Companies worldwide are vying to succeed in a rapidly changing business landscape. Persistent global economic uncertainty, talent scarcity and growing skills mismatch, accelerating regulatory requirements, unparalleled technological changes — the challenges are multifaceted. No organisation can successfully navigate such turbulent times without effectively managing its most critical asset and driver of success — human capital.
In many organisations, human capital accounts for an increasingly significant share of operating costs and is a major determinant of business performance. Yet the risks and uncertainties arising from human capital management and workforce issues are not managed as rigorously as financial, supply chain, IT and other risks. Most organisations in India are just beginning to understand human capital risks and think about the frameworks, tools and methodologies they need to manage them. Effective management gives leaders insight into different risk scenarios and enables them to proactively eliminate or minimise risks that pose the greatest threat.
Willis Towers Watson in collaboration with the Confederation of Indian Industry (CII) - Suresh Neotia Centre of Excellence for Leadership (SNCEL) has gathered the views of nearly 100 chief executive officers (CEOs), chief HR officers (CHROs), chief financial officers (CFOs), chief risk officers (CROs) and other senior executives in India spanning a diverse set of industries on human capital risk management.
This study provides fresh perspectives on the relevance and implications of human capital risks in India, prioritises risks by their impact on business performance and prevalence, and highlights the current state of risk management practices.
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