WORK PER­FOR­MANCE

The HR Digest - - Leadership Insights -

Most com­pa­nies are now step­ping away from eval­u­a­tions as they re­al­ize the HR has been right all along – Man­agers need train­ing, time and the in­cen­tives to have the much-needed con­ver­sa­tions with sub­or­di­nates about per­for­mance and growth.

HR has pro­found knowl­edge about work­place is­sues. Although,

it makes no dif­fer­ence if it doesn’t help the com­pany gain firstrate an­a­lyt­ics such as em­ployee data and how to gain the most from their hu­man cap­i­tal. Ac­cord­ing to a re­cent Deloitte sur­vey, HR Man­agers felt least pre­pared in the area of an­a­lyt­ics. Com­pa­nies like Google, Mi­crosoft mine their own data to pre­dict suc­cess­ful hires. Sim­i­larly, IBM uses its em­ployee data­base to cre­ate teams ef­fec­tively. Be­sides the tech sec­tor, no other com­pany has been able to suc­cess­fully em­ploy the use of data to iden­tify its best per­form­ers and min­i­mize its own health care costs.

In many com­pa­nies, CIOS are the ones han­dling big data to solve HR prob­lems, such as hir­ing the best can­di­dates and find­ing out which prac­tices in­crease pro­duc­tiv­ity. If HR is to meet goals on peo­ple man­age­ment, it must ei­ther han­dle those an­a­lyt­ics it­self, or part­ner with CIOS and their teams to do the work.

Today, one of tra­di­tional HR’S biggest prob­lems has been sup­port­ing busi­ness strat­egy. Com­pa­nies no longer stick to long-term plans. In­stead they gen­er­ate streams of ini­tia­tives to ad­dress ta­lent re­quire­ments. What can HR do to bring the long view back into

or­ga­ni­za­tions? By in­te­grat­ing with the im­me­di­ate prob­lems that busi­nesses face, they can help the com­pa­nies use hu­man cap­i­tal and once again be re­liant on it. HR should as­sess what ini­tia­tives should be taken: what emerg­ing needs do they need to ad­dress first? How do those needs map to the com­pany’s ta­lent pipe­line? How are things likely to change in the mar­ket­place? Do we have the abil­ity to han­dle those changes in­ter­nally?

Com­pa­nies such as Ap­ple, Google and Mi­crosoft are at the fore­front of HR in­no­va­tion. This is largely be­cause each of th­ese com­pa­nies now spe­cial­ize in ta­lent. Hu­man cap­i­tal is their biggest as­set. This doesn’t mean that other sec­tors are fall­ing short. For in­stance, JP Mor­gan is now us­ing an al­go­rithm to iden­tify can­di­dates who are likely to break the rules. Now is the time to reimag­ine how to han­dle hu­man cap­i­tal more broadly. Com­pa­nies should treat HR more than just a cheer­leader for an ini­tia­tive to draw ta­lent; oth­er­wise lead­ers will take on another task for at­tract­ing and re­tain­ing ta­lent and end up burn­ing more cap­i­tal in the process.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.