7 Key Things You Must Do To Deliver and Drive Value of Talents


We have noticed some challenges through our conversations with HR practitioners around the region; seeing comments from an HR Group and some articles we have recently read on HR’s struggle to deliver and drive true value of talents.

HR is typically known to do administration, filing, personnel and compliance. However, with the changing environment, organizations have evolved a lot and HR presently has more impact in business now than ever before.

As I remembered in a conversation with Mr. Lam Yi Young, Deputy Secretary of Ministry of Trade and Industry almost a year ago in a Leadership Conference, where the goal is to move HR from being administrative to business partners in organizations. Where focus should be more strategic and would align in business goals.

According to Gartner, 75% of CHROs expect their HRBPs to be strategic partners to the line: however, less than 20% of line leaders say that’s happening.

However, we think that transactional and administrative/operational responsibilities will definitely be necessary to be handled. In this case, organizations should have separate roles for different HR functions. We believe that with the right focus, the output will also be better.

Organizations that build high-performing HRBPs improve employee performance by up to 22%, employee retention by up to 24%, revenue by up to 7%, and profit by up to 9% (Gartner).

Here are seven things that organization must do to be clear on how they can deliver and drive true value of talents:

  1. Remove operational responsibilities of HRBPs, instead outline key responsibilities and have the right people to take on right roles in Compensation & Benefits, Recruitment, Learning and Development, Labor Relations and the like. This way, HRBPs can focus more on strategic issues and coordinate more with leaders and business units. Same way as each HR functions can be handled well based on specific goals.

  2. Empower the HR team to be able to influence and drive initiatives that generate real business value, learning and engagement. Only a few companies we know gives real empowerment to HR personnel which makes processes and decision making longer than it has to be for most. With organizations that are empowered, talent development is a high priority and coming up with innovative ideas to attract and retain talent to the firm has become paramount.

  3. Establish a pipeline of HR leaders who blend talent, business and financial experience who will be able to identify which talent can yield the most business value

  4. Have people with experiences on other background like sales, finance, engineering and more to take on HR roles. This will encourage a different perspective and may add value due to business understanding in expanding HR’s strategic role.

  5. Training and cross-training of the team, having them move between HR and line roles more frequently might give them a shift of mindset and capabilities.

  6. Close collaboration and support between HR and business leaders. Ensuring a common vision to avoid any tension within the organization. A key client from the business unit to develop relationship with, while, partnering with key HR team to be able to deliver the needs and expectations.

  7. Be able to deliver the most value by identifying opportunities to add and create value through people, and the way they are managed, developed and enabled. As at the end of the day, while focusing on business and paying attention to financials and strategies, we should not forget the people who are behind these things.

#Humanresources #futureofwork #Leadership #ROI #employeeengagement #HR #corporateculture #corporateeffectiveness #businessgrowth #strategicalignment

0 views

Visit

10 Anson Road # 27-15

International Plaza Singapore 079903 

Call

T: + 65 - 6524-4973

  • Facebook Social Icon
  • YouTube Social  Icon
  • LinkedIn Social Icon