Reformer in Chief, Visionary, PR & Marketing Whiz, Style icon Mr. Narendra Modi, Hon’ble Prime Minister of India has had a fair share of adjectives attached to his name over the last one year he’s been on the post. Being in the limelight for his work, attire and at times his close ties with his global counterparts, last few weeks (months) have also portrayed him as Pro- HR expert. Surprised? How can you equate the Chief of Government of India to Pro-HR expert. But it’s true. From the moment he took charge of the office, jobs, skilling and demographic divided have been the focus areas for him. Infact like an able Chief Executive Officer, he knew that it’s the “talent” of human potential that is going to take India towards its journey to become the Superpower and he took steps to leverage this potential.Here are four recent instances that prove that Modi is truly the Chief – “Human Resources” of India :
#1 Cash-less but confirmed benefits to the bottom of the pyramid : Modi knows that he is leading a country , almost 1/3rd of whose citizens live below poverty line. Such is a situation of the government machinery that it takes decades for a relief fund to reach the needy and even then the probability of complete amount reaching them is very low. In such a situation , Jan-dhana yojana , an initiative of Banking the Unbanked that reduced cash transaction was a master stroke. Not only would this step provide financial security to them, it would also provide a strong base to implement an efficient and corruption free social security system .
#2 Defined contribution over Defined benefit : Like a classic HR Pro, choosing Defined contribution scheme in terms of Atal pension scheme was a smart move. 80-90% people in the country neither have insurance cover nor any possibility of pension. Through Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana (APY), 95% of the poor will not only be covered by the proper banking sector but it will serve the cause of extending universal social security cover in most economical and efficient manner. Well only an HR-Pro could think and implement something , especially when there has been a history of cash transactions in our nation.
#3 Taking care of future: We are going to be home to about 400 million millenials by 2020. While this huge human potential is our ticket to bright future, we need to understand that 15-20 years from now this so called “working population” would start ageing. And if our retirement schemes continue in the current pace we will be in a grave situation, even worse than Japan. Modi like a visionary HR-Pro started a solid pension policy for the unorganized sector (that forms more than 80% of our workforce) , This was a much needed move.
#4 Universal Security System unleashed: A population of about 1.25 billion and more than 50% of which in the working age between 15-64 years; India without a social security system is a ticking time bomb. In order to take firm steps towards being a developed nation, universal social security system is a must. In a country that underwent a policy paralysis for past 5 years, having a leader who could think of these much awaited changes and take steps to implement them is a god send. For sure this is just a start and there is a long way ahead, but when some starts are made in one year, in a direction that about 14 previous governments in the past 67 years could not even think of. It surely is a commendable step.
All of the above is nothing but HR policy making at a macro-level; and who other than a pro-HR leader could think of making it happen. So Mr. Modi on behalf of the HR fraternity kudos to these starts and hope in the next 5 years you will take India further towards being a Developed economy with most talented and efficient Human Resources!
