Whatever you’re good at, share it with others. To convey this message, Prasanth Edassari use the phrase “Profits through people power,” this emphasizes the fundamental importance of effective people management. Prasanth is the Global Chief Human Resources Officer at House of Shipping communicates the value of investing in human capital to achieve sustainable growth.
To overlook this critical aspect of business strategy, we at CIO Business World conducted an interview with Prasanth to know more about his challenges and achievements over the years.
Below are the highlights of the interview:
Briefly describe your professional journey up until now.
As an MBA graduate in HR from Oxford Brookes University in the UK, I began my career in the United Arab Emirates (UAE) within the Insurance and Marine oilfield sector, where I worked in administration and customer service for approximately five years. While working in these roles, I developed a strong interest in people management and its impact on organizational success. To pursue my passion for HR, I made the decision to resign from my position and relocate to the UK to pursue my HR qualification.
Following the completion of my HR degree, I worked for several UK-based companies, including EHS, E&Y, and Adecco. In 2003, I returned to the UAE, where I began my career in HR and progressed through the ranks in various industries, including HVAC, manufacturing, electronics, and consultancy. Currently, I serve as the Global Chief Human Resources Officer at House of Shipping, a business consultancy and advisory services company that caters to organizations in the shipping and logistics industry, where I help manage a staff of over 2,000 shipping and logistics professionals from 50 different nationalities, with operations spanning 20 countries and offices on every continent.
What challenges did you face along the way?
As a senior HR leader, I have encountered numerous challenges over the years, including the economic fluctuations that are beyond our control, as well as the unprecedented impact of the Covid-19 pandemic. However, my primary challenge has been to persuade other stakeholders of the crucial role that people play in driving business success. To convey this message, I often use the phrase “PROFITS THROUGH PEOPLE POWER,” which emphasizes the fundamental importance of effective people management.
Despite holding high-level positions, some senior stakeholders may overlook this critical aspect of business strategy. As such, it is essential to continually educate and communicate the value of investing in human capital to achieve sustainable growth and long-term success.
What significant impact have you brought to your industry?
Shipping & logistics industry has always been known to be a 24/7 industry as while we sleep there are ships sailing across oceans and the challenge is our employees always need to be on call whether it’s a weekend or a public holiday and even when they are on holidays. As an HR professional we try to bring in as much of a friendly culture in the organisation and more flexibility when it comes to work, including work from home and hybrid working policies, extended holidays, employee wellness initiatives/allowances, top class medical insurance etc. We make sure we work hard and play hard too.
Tell us about your company and its foundation pillar.
House of Shipping is a leading provider of business consultancy and advisory services to clients in the shipping and logistics industry. Our consultancy services cover a wide range of areas, including Legal Services, Human Resources, Finance and Tax, IT, Strategy, and Marketing. Whether a client is looking to establish a presence in the shipping, maritime, and logistics sector or looking to expand their existing operations, our team of consultants is available to provide customized solutions tailored to meet their specific needs.
In addition to our core consultancy services, we also offer a range of value-added services that are designed to help our clients maximize their success. From ongoing support and training to innovative technologies and tools, we are committed to providing our clients with everything they need to achieve their goals. Also House of Shipping Great place to work in 2023.
How does your company promote workforce flexibility, and what is your role in it?
As a senior HR leader, we recognized the need for our industry to remain productive even amidst the challenges posed by the Covid-19 pandemic, which included working remotely – a particularly difficult feat in our industry. To address this, we implemented policies such as hybrid and remote working to enable our employees to adapt to this new scenario while still maintaining their productivity levels.
We understand the importance of providing our employees with the flexibility and support they need to navigate these unprecedented times. Our approach has been to strike a balance between ensuring business continuity and safeguarding the health and well-being of our employees. We believe that by investing in our employees’ welfare and embracing new ways of working, we can emerge stronger from this crisis.
What is your take on technology’s importance, and how are you leveraging it?
As a senior HR leader, I firmly believe that technology plays a critical role in managing people effectively across all HR functions, from recruitment and employee relations to performance management and talent development. By leveraging technology, we gain valuable analytical insights that help us make informed decisions and drive positive outcomes for our employees and the organization as a whole.
To support our HR initiatives, we have implemented comprehensive HR software as one of main platforms, which has proven to be a valuable tool in streamlining our HR processes and improving efficiency. Additionally, we have adopted Udemy as our learning platform to cultivate a culture of continuous learning and development within our organization.
To attract top talent, we utilize LinkedIn extensively, leveraging its vast network to connect with potential candidates and showcase our brand as an employer of choice. Furthermore, we invest time in marketing our employer brand across various social media platforms, recognizing the importance of building a strong online presence to attract and retain talent in today’s digital age.
What will be the next significant change in your industry, and how are you preparing for it?
As a senior HR leader, I believe that our industry is poised for significant change in the near future, particularly in areas such as environmental sustainability and digitization. From a shipping perspective, the adoption of environmentally friendly fuels and digital freight forwarding will likely be key drivers of innovation and growth.
To prepare for these changes, we have already begun implementing technology and learning programs to support our HR initiatives. We recognize the importance of being proactive in addressing these emerging trends and adapting to new ways of working. By embracing digital transformation, we aim to drive efficiencies and improve our ability to deliver value to our employees and customers alike.
What are your goals in the upcoming future?
My vision is to be known as the most work friendly shipping & logistics organisation and our most recent employee engagement survey by Culture Amp indicated this approach with a score of 85% engagement, which was 5% higher than the top 25 global shipping & logistics companies and we will strive to be better on this journey.
What advice would you like to give the next generation of aspiring business leaders?
As a senior HR leader, I cannot overemphasize the significance of people management, empathy, and emotional intelligence in driving business growth and achieving long-term success. I strongly advise leaders to prioritize these critical elements, even as they strive to increase revenues and profits.
Leaders who prioritize their employees’ well-being and professional development are more likely to create a workforce that is passionate, engaged, and committed to delivering exceptional customer experiences. By taking care of your people, you create a culture that fosters loyalty, collaboration, and innovation, which in turn drives business success. In short, investing in your employees is investing in the future of your organization.
