The Retailers Association of India (RAI), a unified voice for small, independent and large retail businesses,today hosted the 10th edition of the Manning Modern Retail conference in Mumbai showcasing the theme ‘Building Future Ready Retail Organizations’.
Eminent CEOs and HR heads of leading retail businesses convened to discuss Building Future Ready Retail Organizations and set a vision for HR in the sector. The summit uncovered the three new imperatives (Hiring for attitude, Project-based appraisals and Alignment to customers rather than goals) of people practices to help retail organisations be ready for the future.
“Recruiting for IQ and EQ is not enough anymore. TO create future ready organisations, we need to recruit for AQ – Adversity Quotient. It means we need to hire people who have the attitude to see adversity as opportunity and plan to capitalize on it,” said Aslam Karmali, CEO, Direct Sales and Senior Vice President, Marketing Eureka Forbes Ltd.
“If we don’t know what’s going to happen tomorrow, have can we make a 5-year plan and assess performance according to it?,” asked B S Nagesh, Chairman – RAI; Founder – TRRAIN in his keynote address to MMR 2016.He predicted that soon, considering the VUCA (Volatile Unpredictable, Complex and Ambiguous) business environment, we need to prepare for shorter business cycles. Soon, organisations will be appraising people on projects completed rather than waiting to assess their performance at the end of the year. “This will help organisations be nimble and flexible,” he said.
Speaking about the summit and the trends, Kumar Rajagopalan, CEO, RAI, said, “The customer is changing, the market is changing as well as the technology is changing. Therefore, it’s imperative that the way we hire and nurture talent needs to changes too. At MMR 2016 HR leaders across different formats of retail and other service-driven industriesfreely exchanged ideas on people practices that will help organisationsto anticipate uncertainties of the future and thrive. There were a lot of insights that HR leaders could back and implement at their workplaces.”