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The following is an excerpt from the latest installment of CTPartners Trend Talk series on Human Resources.
Read the full article here.
With world-class organizations leading the way, HR is playing an ever more critical role in enabling corporations to achieve their strategic objectives by developing and implementing those human capital strategies that will best enable them to respond to the significant economic forces, competitive realities, and demographic trends that are shaping today’s and tomorrow’s possibilities.
In industries and regions around the globe, developed and developing economies alike, human resources executives increasingly are serving as thought leaders and essential business partners to chief executives, boards of directors, C-Suite executives, regional and country managers, and other members of worldwide leadership teams. As the value of this management trend becomes more apparent, companies are expanding their vision of, and commitment to, strategically oriented human resources.
For a profession that was once most closely associated with administrative functions such as benefits and compensation, this is nothing short of a transformation. As one of the most impactful management developments in today’s global marketplace, the trend first took root in North America and Europe, soon spreading to other developed economies such as Australia. It is, however, rapidly gaining momentum in emerging markets throughout Asia, Russia and Central Europe, the Middle East, and Latin America.
Indeed, the HR landscape is rapidly evolving. In developing regions across the globe, exceptional growth opportunities are combining with razor-sharp competition and highly complex talent challenges in ways that demand–and deeply benefit from–the insights and involvement of strategically minded, broadly experienced, and culturally sensitive human resources executives.
Within emerging markets, this expanding role of HR is scarcely surprising, whether this change is taking place within global or regionally based corporations. That’s because talent truly does deliver the competitive edge in these economies, where speed is of the essence in capitalizing upon new and unfolding business opportunities, and the demand for qualified professionals far exceeds supply.
For anyone taking on a new role, the first hundred days are seen as a rite of passage. In terms of how the organisation perceives you, this period is also a significant milestone.
For the senior manager or executive concerned it is a time for making careful assessments about the task ahead, and winning the trust and confidence of those around them before implementing any changes.
Chris Seabourne, Partner at CTPartners shares insight with HR Review here: http://www.hrreview.co.uk/analysis/analysis-hr-strategy-practice/how-to-successfully-make-it-through-the-first-100-days-in-a-new-role/28556
“Strengthening the Board Connection: The Second Annual Board of Directors Human Capital Institute” was convened on April 5, 2011, by CTPartners in New York City. The daylong event, which focused on a series of timely and essential issues facing the global business community, brought together a distinguished group of panelists and attendees from leading corporations, financial institutions, academia, and nonprofit organizations from around the world.
Brian Sullivan, CEO of CTPartners, the global executive search firm, welcomed all participants, while providing thanks to a blue-chip group of sponsors that included Booz & Co., Steven Hall & Partners, the NACD, and TIAA-CREF, which hosted the impressive gathering in its headquarters. “I am confident that today’s discussions and panelists will give us all some fresh, new, insightful perspectives on global boards, human capital, and the role that the Chief Human Resources Officer can play in supporting and enhancing corporate performance,” Mr. Sullivan emphasized.
Read the highlights at www.ctnet.com .
Recently CTPartners released a Perspective on The Globally Relevant Human Resources Team. Following is an excerpt.
In an increasingly competitive global business environment, as corporate leaders seek a winning edge for their companies, human capital is playing an ever-more central role. Indeed, it is becoming increasingly evident that human capital may well be the biggest differentiator among companies, as well as the longest-lasting competitive asset. Technological advantages, while valuable, are too often short-lived in today’s marketplace. Similarly, cost efficiencies and pricing advantages can quickly evaporate. But the ability to retain superior talent remains as a true and meaningful competitive edge, especially in knowledge-based businesses and positions.
Yet even as the focus on talent is sharpening, the challenge of how to access superior talent is becoming more difficult. The shifting global economic landscape, with the rise of some emerging markets and relative decline of other markets, virtually ensures some regional talent shortages. At the same time, demographic trends, including an aging world population, will create other human capital strains. And shortages of certain highly skilled professionals are already apparent in some regions and professions.
For businesses around the globe, the confluence of these two forces is putting human resources (HR) leadership squarely in the forefront. Never has the need for a strong, globally relevant human resources team been more apparent. Accordingly, talent management now garners greater attention from senior corporate leadership than has been the case in the past. As a result, CHROs are playing a larger role than ever in the C-Suite as strategic partners.
Read more at http://www.ctnet.com/CTNet/Practices/HumanResources.htm
Kenneth M. Smith, Senior Vice President, Human Resources of PolyOne Corp. offers Lessons Learned from Communicating During an Economic Downturn.
Communicate honestly and frequently: When accurate predictions are not possible, do not attempt to make a forecast. Instead, let employees know what you know—both the good and the bad. Be open about areas of uncertainty, but be emphatic about areas of certainty. Use all communications vehicles available to you, and consider adding new ones. Every executive-level or management-level communication is an opportunity to reinforce your economic crisis messaging.
Use the facts, but show empathy: All of us know that an economic crisis is occurring—we hear about every day in the news and we see it whenever we look at our personal finances. Employees need to understand the impact on the company’s customers, competitors and suppliers. Relate the larger economic picture to your individual situation and use the facts to emphasize the need for action or changes. At the same time, demonstrate empathy and compassion because the economic crisis that is impacting your company also has personal financial implications for each of your employees. While you are explaining the impact on your industry, they are thinking about how much ground their child’s college savings fund has lost.
Reinforce the fundamentals: Now is not the time to abandon your company’s core values, vision or strategy. Repeat the messages you would be communicating to employees even if the crisis was not occurring, but explain their importance in the context of the external environment. For instance, customer service is always a priority, but understanding that exceptional customer care at a time when your customers are struggling will both help your best customers survive the crisis and will instill customer loyalty that will augment your own bottom line is a powerful message. Further, message continuity provides an opportunity to reassure employees that despite a difficult environment, their company is acting rather than reacting.
Encourage involvement in the solution: Employees want to be a part of the solution—they want to help their own company survive. Changes to salaries and benefits are ways that employees are coerced to help the bottom line, but employees should also be encouraged to show initiative. Find examples of innovative cost-cutting actions taken by employees and share them throughout the company in order to inspire others. Employees need to understand that every little cost savings can make a difference and that their actions contribute to the company’s success.
Confirm your appreciation: Even under normal circumstances, it is not possible to thank your employees enough. During times of extreme duress, when perks and rewards are financially unfeasible, remember to show your appreciation for the hard work and dedication of your employees. Let them know that you value the extra hours and increased pressures they face.
