How do you see the performance and rewards systems landscape across organisations at present?
RP In my view, we are at an important inflection point in the world of work, especially in India. The workplace is now about to have at least 3 generations (Gen X, Millenials or Gen Y and Gen Z) working side-by-side and that’s certainly an interesting social experiment in the making. Hence, organisations are revisiting their performance and rewards frameworks. Transparent, hyper-personalized and flexible are the new design principles that cut across performance & rewards practices today. A shift to continuous feedback instead of annual reviews and rewards programs for GIG workers are examples for the same.
Do you feel that it is appropriate time for resetting the performance and rewards processes in changing new work world of remote and flexibility? If so, how HR should go about the framework as a whole?
RP Absolutely. Let’s take the example of MSME businesses. These businesses are...