Human resource management is becoming an increasing complex and strategic function that encompasses everything from compliance to human capital management. When well-conceived HR plan and practices are integrated with the business, it is a force to be reckoned with in its own right. But inevitably, business always ask: "How does this add value to our bottom line?"
So the question is: What does the modern HR leader need to know to have a seat at the table and help lead business?
Here are three things HR leaders must do to help lead businesses:
Understand and Get Involved in Developing Your Company's Strategy and Goals.
Know what you’re up against. Who are your competitors and how does your organization differ? Think about how those differences can benefit your organization and provide a competitive advantage.
As an HR Leader, your input is important in developing the right strategy for the company at many levels. “How can a CHRO develop an organizational structure that is meaningful or will yield business results if he or she doesn’t actively participate early in the process?” – Padma Thiruvengadam, CHRO at Integra LifeSciences.
Read more: CHROs Need to Move From Influencing to Being Actively Engaged in the Business and Stop Advising, Start Leading
Numbers, Numbers, Numbers.
It’s a data driven world. More and more business functions are, and will continue to be, expected to produce numbers to demonstrate their impact on the business. The truth is, whether you’re a numbers person or not, it’s important.
Creating metrics around people isn’t easy, but new HR analytics tools are popping up to help make it easier. Understanding the data and being able make sense of it is beneficial for HR because it’s the communication tool that your stakeholders understand and value.
Read more: HR Analytics and Metrics: Scoring on the Business Scoreboard and HR Disrupted: The Next Agenda for Delivering Value
Merge Culture, Talent and Leadership.
A study by Korn Ferry Institute about the relationship between CEOs and CHROs states that "well-managed talent, leadership, and culture are what enable sustainable customer, operational and financial results." Even Dave Ulrich believes that "in any business dialogue (being at the table), an HR professional can proffer three unique contributions: Talent, Leadership, Organization."
Top things to keep in mind when merging culture, talent and leadership:
Read more: From War For Talent to Victory Through Organization and CEOs Want Better Performance. Great Culture Can Make It Happen<
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