From working in closed conference rooms to operating a chief seat at the senior leadership table, HR surely has developed a long way. Today, the role of HR in designing and driving strategic growth is as necessary as technology or business leadership.
In recent years, HR has undergone progressive shifts in its roles, duties and overall result in shaping organizations. The call for a digital transformation from engaging in a traditional cocoon is no longer an option. The earlier the shift happens, the higher the possibilities of survival.
The latest report by KPMG shows two sides to this story. Out of the studied 1200 global HR executives from 64 nations, 39% of forward-looking and positive HR leaders are providing the resources and insight to redefine antiquated models and comprehensive technologies such as analytics, digital labour and AI. Nevertheless, most of the HR leaders remain unclear and confused by so many new additions, thus facing the danger of extinction. They are both struggling to adapt to this digital era or ignoring.switch altogether.
Without a doubt, a great cloud of difficulty does predominate in the mindset of HR leaders across the world in the backdrop of an imminent and relentless change.
The Ever-Expanding Role of CHRO
The role of a CHRO is majorly one of the various essential in any business. The extent of this role is not only expanding but also making its due recognition and sensitivity from the rest of the C-suite. Today, CHROs must help businesses in paving the way for considerable growth across choices relating to recruitment management software, compensation, leave management, talent management, performance management software, training, employee experience and much more. They also need to regularly develop themselves and use their expertise to keep their businesses in the game.
CHROs today not only focuses on day-to-day actions of HR. They are required to give their input on high-level business administration and leadership on establishing the very future of work.
Helping teams make a move from traditional, firm systems to new agile organizational structures, CHROs can assist steer this much-needed engine of development. These strategies will help organisations effectively address the ever-expanding demand to crack facility needs and adjust to a change of employment arrangements to accomplish company goals.
CHROs will also be able to put knowledge and diversity at the centre. They must work as custodians of culture, lead by example and follow a lifestyle with core business goals. This would involve creating specific programs and policies to ensure an engaged workplace, happy employees, reward strategies that join talent and ensuring there are variety and inclusion in every sense.
It is the CHRO that can span the gap within the digital and the human and recommend strategies to help accomplish a balance for the prospect of work. They are the HR leaders who are required to launch and sustain the right conversations with other industry leaders to create an original path for a hopeful future.
Employee Experience Mirrors Customer Experience
The attention given to employee engagement as a vital priority has never been more. As per G2 Crowd’s report, companies will increase their employee engagement spending by 45% in 2019. And HR is what would drive this change.
Research has experience and again highlighted the appalling levels of employee engagement levels companies suffer from. There is also a lot of information showing the direct impact of more important employee engagement on market growth. Owing to this new-found interest in concentrating on employees HR software is continuing to invest in HR technologies that will assist them in creating exceptional domestic experiences, right from onboarding to exit.
The new-age employees are no more limited than customers. Just like how substantial effort and detail goes into mapping customer journeys, the same is the problem with employees. Because just like without clients, there is no business, without engaged employees, there is no culture. 2019 is the earliest time that five generations will be discussed in the same workforce. The need to know millennials and GenZ will have to get priority.
The demand for exceptional talent is going to grow with time, and so is its rarity in the talent market. The only way to visit competitive is by assuring that the right people are hired, kept happy, motivated and retained. Knowing what employees want and what makes them should become a business priority to survive in random times coming up.
With a wide variety of employee engagement solutions growing up, organizations will have to make careful and intelligent decisions in choosing the right technology to manage their workforce satisfied. Companies can request and track feedback from employees, identify and reward their achievements, mentor and coach them periodically and let their career expectations increase. Engagement goes way beyond just technology and will also cover solutions around the continual provision of on-demand education and focus on holistic employee wellbeing.
Collaboration Between The Human and Digital World
Mainly the global human resource management (HRMS software) sector is foretold to reach $30 billion by 2025. Improvements in information technology (IT), predictive HR analytics tool, artificial intelligence and machine learning in HR processes are allowing professionals to perform traditional practices with much more efficiency and reduced period. Over the next two years, more HR managers are planning investments in areas such as predictive analytics, improved process automation and artificial intelligence (AI).
There is a flip side to this as well. The widespread discussion around AI and machine training is pushing corporations to invest in technology but without much idea on how to use it optimally. In KPMG’s report, 50% of HR leaders feel surprised to use the technology available around them.
A lack of characters with the right skills, which is a skill issue, can be cited as one of the greatest that limit companies from facing and adjusting to the fast pace of change. One of the most efficient ways to brave this digital transformation is by using skilled employees and also giving them time so that they are ready to work in a digitally challenging environment.
Leading HR systems are the ones which have already delved into the technologies by the skilled employees and paving the way for greater integration of digital and human labour. They recognise the benefits of industrialisation of high volume and repetitive tasks as it frees employee time, who can then concentrate on tasks that generate higher value for the business.
Administrators can shift their focus from normal activities and focus on plans to create more business efficiency, improve performance and competitiveness. HR leaders are in the unusual position of leading the future of work, stop running behind the scenes and cover the way for a new world of work.
The fate of HR has arrived, and it is now. HR, therefore, needs to be a function that gets the lead in learning what makes people interested, what cultures make the most productive workplaces and what comparisons enable an actual merging of individual capability with technology.