Recently, Deloitte released their annual Human Capital Trends Report, their annual study of HR, leadership, and talent challenges compiled using data from surveys and interviews taken by 3,300+ HR and business leaders in 106 countries around the world. The report, as always, is chocked full of really terrific information and insights. If you have a few minutes, the executive summary and accompanying infographic are great reads.
One of the biggest things that struck me from this year’s report was some shot across the bow for the HR profession. Reskilling HR came in as the fourth most important talent issue for the year, with business leaders rating HR’s performance 20 percent lower than HR leaders’ ranking. So basically, our bosses, are telling us we’re not doing a good job.
For the most part, Deloitte put it bluntly, HR is just not keeping up with the pace of business and a reskilling of HR professionals while reinventing the role of HR is becoming critical.
Those are some extremely serious warning signs for those of us in the HR profession. However, the need represents an incredible opportunity for those in the HR field to take charge of this and offer some strategy around how to possibly mitigate this issue.
But where do organizations start? Deloitte offers the following advice:
- Redesign HR with a focus on consulting and service delivery, not just efficiency of administration. HR business partners must become trusted business advisors with the requisite skills to analyze, consult, and resolve critical business issues.
- Rather than locating HR specialists in central teams, embed them into the business — but coordinate them by building a strong network of expertise. Recruitment, development, employee relations, and coaching are all strategic programs that should be centrally coordinated but locally implemented.
- Make HR a talent and leadership magnet … Create rigorous assessments for top HR staff and rotate high performers from the business into HR to create a magnet for strong leaders.
- Invest in HR development and skills as if the business depended on it … Focus on capabilities such as business acumen, consulting and project management skills, organizational design and change, and HR analytical skills.
Yes, businesses are moving at lightning speed, technology is rapidly advancing and employee talent needs are through the roof in an effort to stay competitive. At times it may seem overwhelming, but, this is our time, these are concrete suggestions and I for one will be evaluating ways to implement some of theme in my processes and methodologies.