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The future is here: The changing role of Human Resources

Human Resources Management

Leading organizations are the ones which have already deep dived into the technologies by hiring the skilled employees and paving the way for a better integration of digital and human resources.

From being just a talent acquisition head to holding a key position in the senior leadership table, HR has surely come a long way in all this while. Today, the role of HR cannot be neglected in driving strategic growth in an organisation. The role has got amalgamated with business leadership and now is considered critical for driving any organisation forward.

HR has undergone dynamic shifts in its roles & functions with its overall impact in shaping organizations. Today, the HR is considered to have a voice in almost all the key decisions taken at leadership level.

A report released by KRMPG a few months revealed some other aspects of HR. The report had findings out of the 1200 global HR executives surveyed from 64 countries. It stated 39% of forward looking and confident HR leaders are harnessing the resources and insights to redefine old models, and implement technologies such as analytics, digital labour and Artificial Intelligence. However there were also a large significant number of HR executives who remain confused and were not open to some many changes. They are finding it challenging to adapt to the digital era or are ignorant to the change altogether. These changes are also bringing about transformation in the role of HR.

The refined role of the CHRO

The CHRO's role today in an organisation is of paramount importance in any company. It is high time that it gets is due recognition from the rest of the C- suite.  The CHRO's today must assist businesses in paving the way for strategic growth across decisions relating to recruitment, compensation, talent management, performance management, training, employee experience and more.

Apart from only focusing on the day to day recruitment or talent acquisition related activities, they are required to offer their inputs on high level business guidance and leadership on defining the very future of work. They should guide the organisation on how to get rid of the traditional and obsolete processes and system and pave way for new agile organisational structures. These strategies will help companies effectively address the ever-expanding need to crack talent acquisition needs and adjust to variety of employment arrangements to achieve common business goals.

The new age CHRO's must be the flag bearer of culture, lead through example and align culture with core business goals. This would involve designing specific programs and strategies to ensure an engaged workplace, happy employees, reward strategies that retain talent and ensuring there is diversity and inclusion in every sense.

In-house employee experience is equal to customer experience

Research has time and again highlighted the appalling levels of employee engagement levels organizations suffer from. There is also a lot of evidence revealing the direct impact of higher employee engagement on business growth. Owing to this new-found interest in focusing on employees, HR is going to invest in HR technologies that will help them create exceptional employee experiences, right from on boarding to exit. Today, the new age employees are no less than customers. Just like how much effort and detail goes into mapping customer journeys, the same is the case with employees. Because just like without customers there is no business, without engaged and motivated employees, there is no culture in an organisation.

The need for outstanding talent is going to increase with time and the will be scarcity of the right talent in the market. The only way to stay ahead and competitive it to ensure that the right talent is hired, trained, motivated and most importantly, retained. The HR has to put in a lot of focus to understand what the employee across level want and what drives them. Each organisation should find out unique ways to find this out, it can be either to direct e-sat surveys, role play activities or any other method.

Partnership between digital & people

By 2025, the global human resource management (HRM) sector is projected to reach $30 billion. Advancements in information technology (IT), predictive analytics, artificial intelligence and machine learning in HR processes is enabling professionals to do conventional task with much more ease and reduced time span. More HR professionals are planning investments in areas such as predictive analytics, enhanced process automation and artificial intelligence (AI). One of the most effective ways to embrace digital transformation is by hiring skilled employees and also up-skilling them with time so that they are able to work in a digitally challenging environment. Employees should proactively assessed to identify their digital quotient. There are lot of customised surveys which can help organisations create a sample questionnaire to identify the digital quotient of each employee. Small but consist steps towards digital transformation are a must today for organisation of any size.

The impact of technology on organizations of every size and sector is infinite, and we know the pace of disruption is accelerating. Organizations needs to bring in innovation, agility, and objectivity through technology. A report published few months ago stated that companies that embrace digital transformation are up to 26% more profitable than competitors and enjoy up to 12% higher market valuation.

Successful organisation are the ones that understands the benefits of automation of high volume and repetitive tasks as it frees employee bandwidth, who can then focus on tasks that create higher value for the business. Management can shift their focus from unwanted activities and focus on ways to create more business efficiency & enhance performance, thereby increasing competitiveness.

The future of HR is now. HR thus needs to be a function that takes the lead in understanding what makes people engaged, what cultures drive the most productive workplaces and what equations enable a true merging of human capability with technology.

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