Spending the past months speaking with Human Resources executives, three key components kept rising to the top of each conversation. It helped in reframing Human Resources. The first was the importance of vision and strategy. This centered around HR not only being in the room of strategic planning sessions dictating what can and cannot be done. But actively participating in how they can contribute towards helping to achieve the strategy. This was helping build aggressive plans and knowing that they would be able to produce the people and culture to help the vision be achieved.
The second main topic discussed was the importance that talent management will play in the future if not already. At the time of this writing, unemployment is a record low. Talented workers cost a premium for limited use. Subsequently, competitors outbid for talent and they move on. History will repeat itself and unemployment will rise again, also the rampant infusion of artificial intelligence will be upon us. Logically the dots can be connected that talent will be widely available once these factors strike, but again history repeats itself. With every great innovation comes new jobs to supplement, leverage, and expand from that technology. It’s not known what those new job fields are yet. However, employers will face a mass shortage of talent to fill those open positions. This links back to finding great talent, that has learning agility, and an environment in which they can develop.
The final component identified was the needed development of business acumen in the core of Human Resources. While HR had been decoupling from the core mission of organizations, they also lost their seat at the table of organizational strategy. The tours spent as a traffic cop, policy administrator, and planning company picnics led to a loss of credibility. This further separated HR from the business. During this period the business competence was lost and not developed in the core of new HR professionals further dividing the two units. Until Human Resources builds back its knowledge of the business and operations it will not be engaged in the strategy and will be unable to provide true human capital value to the organization.
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