Interesting article in today's Financial Post out of Canada on a new report from Deloitte and the Economist Intelligence Unit. This is all consistent with the work Knowledge Infusion is doing globally with clients as we work to transform HR and talent management strategies and the technologies that enable these strategies.
A few highlights (or lowlights):
"When business executives talk about HR, they focus on things like benefits, performance evaluations, and HR operating efficiency. But when those same executives talk about people issues, they focus on strategic challenges, such as talent management, workforce productivity, and leadership development - and in many cases the HR function isn't even mentioned." * The study of 531 HR and non-HR executives - five per cent of whom were Canadian - revealed more than 85 per cent believe people are vital to organizational performance, rising to 90 per cent when looking three to five years ahead. But business executives are not sure HR is ready for the challenge, with just 23 per cent saying HR "plays a crucial role in strategy formulation and operational success," the study said * More than half, or 52 per cent, of companies do not have a chief human resources officer or other senior executive dedicated to people issues, but 68 per cent expect to have such a position in three to five years. * The majority (82 per cent) of respondents expect HR to be perceived as a strategic, value-adding function, not just a cost centre, over the next three to five years, the study said. HR organizations are also becoming more strategic and shifting administrative transactions and other non-strategic activities to shared service centres or an outsourcing vendor, the study added.
Very interesting study and read. We are living this every day. Insure your HR technology strategy including plans for HRMS, talent management technology and Workforce Information Management (Analytics) are in line.
Another infusion of knowledge..
Link to Execs and HR not effective partners: report
