The HR and CEOs Summit 2024 recently brought together industry leaders, HR professionals, and CEOs to explore the latest trends in business leadership and human resources.
During this event, our Head of People and Culture, Yogen Soobarah, offered his valuable insights in the panel discussion titled “Growing a Sustainable, Future-Proof Business: Focusing on Employee Learning and Development.” He underscored the urgent need for organisations to swiftly adapt to a business environment increasingly shaped by globalisation, technological advancements, and shifting customer expectations.
In today’s dynamic environment, businesses are compelled to transform their workforces to remain competitive. Yogen identified four critical elements that are essential for successfully navigating this transformation:
1. Learning agility: As the lifespan of skills shortens, instilling a mindset of lifelong learning across all levels of the organization has become imperative to ensure employees remain adaptable in the face of constant change.
2. Continuous improvement: Organisations must foster a culture where continuous improvement is not just encouraged but ingrained. Creating an environment where employees feel safe to challenge the status quo, reassess existing policies, and experiment without fear of failure drives innovation and keeps the organisation agile.
3. Technological adoption: In an era where digital and AI technologies are reshaping industries, building robust technology and business capabilities is essential. Integrating these technologies into the workforce enables the organisation to address complex business challenges effectively.
4. Culture design: A purpose-driven culture, guided by strong values and leadership, forms the foundation for employee success. Creating such a culture not only helps employees thrive but also ensures they consistently outperform expectations.
"At Absa Mauritius, we drive learning effectiveness with our 70/20/10 model — 70% of learning through practical on-the-job exposure, 20% coaching in the job, and 10% formal training. This balanced method ensures our team is continually developing and staying ahead in a rapidly evolving industry,” said Yogen.
He also highlighted that the Bank’s strategic workforce planning exercise, which is currently underway, plays a crucial role in building a future-ready workforce. This initiative is designed to ensure that we employ the right people with the right skills at the right time and cost. By involving leaders across the bank, we take a collective approach to workforce planning, ensuring that our strategy is aligned with the needs of the business.
Our involvement in events like the HR and CEOs Summit underscores our commitment to advancing workforce development and innovation. By engaging with industry leaders and sharing our strategies, we reinforce our dedication to building a resilient and adaptive workforce.
