Tag: IIM

IIM conducts a one-day HR summit on changing productivity norms in the backdrop of global IT outage

Rohtak, Haryana: The world grappled with an unprecedented global IT outage on 19 th July, 2024 that was caused by incompatibilities between the updates in the cybersecurity software and the underlying operating system. Bringing out the vulnerabilities in today’s digitally connected world, the IT outage brought life to a standstill. The problems included delays in flights, cancellation of bank transactions and impaired working of integrated, electronic security systems. The IT outage brought out the dangers of economic paralysis and threat to national security that are inherent in the highly complex and globally connected IT infrastructure. The complexity increases the probability of breakdown and the global connectedness makes every breakdown potentially catastrophic. According to Business Standard, major U.S. airlines, including American Airlines, Delta Air Lines, and United Airlines – grounded flights, while other carriers and airports around the world reported delays and disruptions. Billions of financial losses occurred as banks, financial services companies across the globe faced disruptions, and traders across markets faced problems executing transactions. The reliance on technology for everyday tasks has underscored the vulnerability of modern enterprises to such outages, emphasizing the need for effective strategies to mitigate these risks in the future.

 To deliberate on these crucial and timely issues, the Indian Institute of Management Rohtak organized a one-day summit on 20 th July 2024 to discuss the impact of such black swan events on societal norms of productivity. The event was attended by top corporate executives, faculty, and students of IIM Rohtak, who deliberated on the ways and means to develop a resilient and productive workforce that can negate and deal with these events. The event saw participation from executives of multiple reputed firms such as Airtel, Brillio, HCL Tech, Hindalco, Mercedes-Benz, Morgan Stanley, and Photon.

 The event commenced with the welcome address by Prof. Dheeraj Sharma, Director, IIM Rohtak that outlined the key underlying issues that were made manifest by the recent outage. Prof. Sharma highlighted how the recent IT outage underscores our unhealthy dependence on technology, which has led to the obsolescence of skills such as writing quickly and legibly by hand. Expanding the theme, he exhorted the audience to reflect on the nature of productivity and explore the possibility that technological advancements need not lead to increased productivity, especially when the output consists of mental ideas rather than material things.

 The reliance on modern technology has led to the neglect of traditional work methods. Prof. Sharma stated that it is crucial to revive these methods to build a more resilient workforce.  He emphasized the importance of conducting global outage drills. These drills must be designed to prepare individuals and organizations for unprecedented technology failures. He stated that by regularly practicing how to work without technological aids, we can ensure that people are not entirely helpless in the face of such outages. These drills would help develop the skills and strategies necessary to maintain productivity and continuity during technological disruptions. A workforce trained in both modern and traditional methods is better equipped to handle disruptions and maintain operational stability. Concluding his enlightening speech, he urged the audience to introspect on the impact of technology in redefining the dimensions of productivity and changes in their relative rank-order and weightage. He also stressed upon the security issues arising from global integration in his rousing speech.

 Continuing the theme of the welcome address, the first panel discussed the complexities of measuring productivity in complex and capital-intensive industries. The panel highlighted the need to align investments in technology with the development of appropriate organizational culture and employee skills. The need for a holistic view of the impact of new technology was also highlighted. The second panel drilled further on the role of person-organization alignment in driving organizational productivity. They stressed that when the values and purpose of top-level employees and organizations are similar, the management is better able to formulate and implement strategies that take a long-term, holistic perspective that accounts for unforeseen dangers. The role of multiple life experiences in finding purpose was also highlighted.

 The third panel focused on the skills and qualities necessary for the workforce of future. They emphasized the need to cultivate a learning mindset. The panelists specifically highlighted the role of following skills — contextual understanding; effective communication and team work and designing human-centric approaches – in enabling organizations to design effective response to novel threats. The final panel reiterated the relationship between an inclusive workforce and an innovative workforce. They emphasized the need to create psychological safety, provide equitable resources, and value all voices to develop a climate of equity and acceptance in the organization. When an organization is perceived to be equitable, there is a greater congruence between organizational and personal values leading to increased commitment, innovation, and resilience.

 Due to the highly integrated nature of the global IT infrastructure, even a minor glitch can have potentially catastrophic effects. Hence, multiple economic and security experts have underscored the need to develop national-level IT infrastructure to limit contagion, improve understanding of underlying systems, and monitor threats effectively. This also chimes with the government’s Make-in-India initiative that aims to make India self-sufficient in high-end technology. The panel discussions highlighted the technology-related vulnerabilities inherent in today’s economic system and laid out a roadmap for developing the workforce that can tackle the same. Discussions with panelists and IIM Rohtak faculty members highlighted the need for future research focused on global technological vulnerabilities. These conversations underscored the importance of developing strategies to mitigate the impact of global outages. Future researchers are encouraged to explore innovative solutions that reduce vulnerabilities, ensuring they are less prone to failure and better prepared to recover from disruptions. The panel discussions enable the students to develop concept papers and white papers on this highly relevant theme. They can seek out projects and further develop their skills in this domain to become consultants. As unchecked breakdown of IT systems represents an existential threat, expertise in this area is likely to be a high-demand skill.

 IIM Rohtak, a premier institute of national importance with over 1800 students enrolled in various programs, recently received the AMBA accreditation, making it to the top 2% of management institutes worldwide. With over 75% female representation over the last three years, the institute hosts students from over 30 Indian states and UTs. The institute offers eight one-of-a-kind programs imparting knowledge with multi-disciplinary outlooks to prepare future business leaders.