Reinvent HR to steer your business in new directions

CEOs today are faced with a landscape that can and does change at any moment – from global disruption to technology advances, or further widenings of the talent gap. Future success requires total enterprise reinvention today. It all starts with connecting data, technology and people.

To that end, our CHRO as a Growth Executive research finds that organizations with their people, data and technology all working harmoniously in concert are seeing top-line productivity premiums of up to 11%, compared to only 4% for those focused on data and tech alone.

But there’s a catch.

The way we work is changing faster than ever before. Work is becoming further enhanced, automated and projectized. Companies require updated capabilities and mindsets to compete.

HR should optimize people related data by connecting it with external signals and enterprise data to steer long-term business strategy. Looking beyond just being consumers of talent, HR can help the organization become talent creators — injecting skills-driven talent practices throughout everything and uplifting both the business and people as a result.

An elevated HR can act as the conductor working cross-functionally to accelerate talent reinvention and enable businesses to thrive in times of change. To deliver on these business needs, HR has a set of non-negotiable outcomes it must drive.

Call it HR that’s re-invented — or just call it HR that’s delivering the kind of outcomes we refer to as 360° value.

1. Framework to capture efficiencies and fund the future: As your organization evolves, HR becomes a key driver of business strategy and accelerates reinvention through continuous innovation. When done right, these innovations can be part of an overall framework to capture efficiencies and enable you to fund future efforts.
   
   
2. Single cloud architecture with democratized data: Gone are the days of multiple systems and architectures in many places. It’s time for a single, integrated HR technology stack with a common data architecture in the cloud. Data and insights should be democratized so that they are accessible, as appropriate.
   
   
3. Global principles applied locally: Connect people to your purpose and principles at the global level with local relevance. Drive leadership behaviors and ways of working that embed local perspectives to truly reflect a globally diverse culture.
   
   
4. Signature and living consumer-grade experiences: Do not just focus on signature experiences alone since employees may not come across them often. Make every interaction a consumer-grade experience – simple, intelligent and automated.
   
   
5. Shared success across all stakeholders (clients/customers, people, shareholders, partners, and communities): Embed sustainability into everything you do, with everyone you work with, creating both business value and sustainable impact, enabled by technology and human ingenuity.
   
   
6. Workforce readiness powered by skills-driven talent practices: With a skills-driven approach you can access and create the talent you need for the future. When combining an individual’s data about skills with their intentions and desires for the future, we can unlock their potential.

The non-negotiables are underpinned by a robust tech, data and AI infrastructure; agile and responsive ways of working; and a broad ecosystem that enables innovation.

Future Ready

Re-invented, tomorrow’s HR is fully-functional and core to the success of a CEO’s mission to embrace reinvention and change. This requires organizations to re-think how HR operates, re-evaluate the capabilities the business needs, and to re-invent the talent needed to deliver on the future promise.