Question: What is the key to outrageous and unique company growth? Answer: Talent.
Throughout all new phenomena and challenges that aspiring companies of the future have to face, strategic workforce management is the critical area to be mastered. Why do we know that? Because we fight this fight, and sometimes it is actually like war, every day anew. In every single company, the essential resource is talent, and strategic workforce management entails knowing where the expertise resides and how to allocate it according to business demands. There we are already with the 2 most critical points: Does this “expertise” even exist? And do we know what it actually means to use it “correctly”?
Only those companies that proceed very proactively and systematically will be able to conquer this field at all. Currently, very few companies are ahead of the game and can be considered proficient workforce planners. Human resource planning is quickly evolving. Why? Because we live in an era of absolute uncertainty and changeability. Change is the only constant today. How can industry experts keep up with this pace and constantly adapt new best practices? We can only give you a hint – dive a little deeper into strategic workforce management and don’t shy away from the overwhelming of looking at multiple levels and programs for a well-functioning system. That is how to find out why we are fans of the systemic approach. Of course, we also know that developing a workforce management plan and implementing it with the most appropriate technologies requires time and expertise. But you should take the time or consider external help.
What exactly is going to happen in Talent Management?
First, take a look at your organizational structure and create an actual profile of your current workforce, i.e. all roles and their functions. Now we are going deeper as we will to develop your clear corporate vision and your strategic goals. Do you even know your vision? More importantly, do you know how current global trends affect the realization of your vision?
The last step takes more time and know-how. In fact, it’s about e.g. evaluating the relevance of trends such as digitalization, automation, individualization and globalization for your business. Be aware that it is nearly impossible to get around it in today’s world. By combining your unique business vision and the relevance of the individual trends for your company, you get a target profile of your future workforce. This is a prognosis of how you should design roles and functions in your company in order to keep up with the changes in the working world and thus achieve your goals and not fall by the wayside.
Reinvention of the HR function
Why is it that it’s difficult for business leaders to detect human resource function as a key factor? Easily explained: human resource function is not directly generating revenues and plays in the background of a company. That’s how the value of a proactive team in HR can be underestimated. What you may have forgotten is that the right workforce management reduces operating costs, increases profitability, and boosts staff morale, which has a direct impact on the improvement of the services. We are here to exploit your company’s full potential and guide you through a reinvention of HR.
Starting off, we will break the concept of HR into a separate function that primarily focusses on hiring and firing people. HR teams have never been busier than now as they entail a lot of responsibilities: tracking critical developments in the job market, attracting new talent, offering learning and development opportunities, improving employee productivity, promoting employee engagement and ensuring work-life balance, just to mention a few. Going forward, HR and business development need to go hand in hand to ensure that the workforce is structured properly and is aligned with the short-term and long-term objectives of the business.
Think visually about the structure of your workforce: ideally, positions are drawn out like a map that outlines the necessary skills, required experience and personal qualities. This upfront exercise identifies gaps in people’s skills by comparing the state of now with the desired one, allowing HR teams to hire new or retrain existing workforce as well as determine a timeframe and tactics for filling the gaps. This kind of transparency allows HR managers to react quicker and more agile in the way of building core competencies through strong and supported talents and moving fluently in the ever-changing market. It is crucial to know how to cope with new challenges regarding the engagement of your workforce that meets contemporary needs. Times have changed and so did people!
In the upcoming week, we will uncover why we believe in never quitting to learn and we will face the chances of 2019, what the continuous digitalization will change in HR and how it will take HR to the next level. See you next week!