One clear motivation for taking bold action now is the state of HR itself. The Deloitte Global Human Capital Trends 2015 report explains that “capability gaps” (the distance between urgency and readiness) have widened in every area—including leadership, engagement, analytics, learning, and reskilling HR—since 2014.3
Our research shows that today’s HR professionals typically give themselves a C- when it comes to their ability to directly impact talent needs in their company.4 In fact, despite more than 10 years of research and discussion about “talent management,” only 12 percent5 of the companies we recently surveyed have a true talent strategy. Further, less than one-quarter of line managers surveyed think their learning and development (L&D) department is critical to achieving business goals, a statistic that reveals a startling lack of alignment to the business.6 Our research shows that even many CHROs are struggling to keep up—more than a third7 of those surveyed are being replaced by non-HR professionals as they change jobs.
Of course the likely reason for these challenges is that the world is changing rapidly. The leading practices that we read about or learn of at trade shows are often fleeting. Some endure forever, but many are very dependent on today’s technological environment and the particular demographics of a company. Right now, with Millennials becoming the largest cohort in the workforce and also older employees often wanting more meaning and purpose at work, many traditional recruiting, performance management, succession, and corporate learning practices are quickly becoming ineffective.
Added to these challenges is the fact that HR professionals typically don’t spend much time or money developing their own skills. While most HR teams try to focus on internal skills development, our research shows that only 8 percent rate themselves as excellent in this area.8 The reason? It’s dauntingly difficult—the practices keep changing, and, frankly, we are all just too busy.
The Path to Bold HR: Six Steps to Addressing Common Talent and HR Problems
Being bold demands more than confidence and creativity. It also calls for innovative thinking; alignment with business strategy; strong technology and tools; and skills in change management, coaching, and leadership.
Our experience shows HR leaders generally go through a six-phase process to address business challenges:
TalentOZ on-the-Cloud solutions covers the lifecycle of Human Capital Management from Recruitment to Separation, (also called Hire-to-Retire Processes).
This includes both strategic and transactional aspects of HCM. The hallmark of TalentOZ is its tight integration across all the HCM Modules.