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The Future of HR

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on 6 October 2014

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Transcript of The Future of HR

Presentation Overview
HR Interview
Traditional HR Functions
What is Driving a Change?
The Future of HR
Presented By:
Ahmad
Ana
David
Zoran

Jack Welch
Former CEO of General Electric
HR Leadership
1 - Providing Direction
2 - Leading with Courage
3 - Influencing Others
4 - Fostering Team Working

HR Leadership Continued...
5 - Motivating Others
6 - Developing Others
7 - Continuous Learning
8 - Championing Change
What is an Organisational Capability?
Conclusion
References
“It is not the strongest of the species that survive, nor the most intelligent, but rather the one most responsive to change.”

Business Trends
New Consumers & New Collaborations

Another Billion By 2020
Business and Social impact
Innovation from everywhere
Social Business/ global business
Greater economic uncertainty and market volatility

(Roehling et al. 2005)
(Roehling et al. 2005)
HR Representation at Board Level
Connect and engage with the business agenda
Right tools and confidence in delivering value
Importance of human capital strategy
(MacLachlan 2012)
Deloitte Development LLC 2014,
Business Trends 2014: Navigating the next wave of globalization
, Deloitte University Press.
Hopp, C & Zenk, L 2012, 'Collaborative team networks and implications for strategic HRM',
The International Journal of Human Resource Management
, vol. 23, no, 14, pp. 2975-2994.
MacLachlan, R 2012, 'Raising the bar for HR leadership.(conversation with Peter Cheese)',
People Management
, pp. 20-24.
Macquarie Graduate School of Management, 'People Management and Leadership Conference', September 16-19, 2001.
Markidies, C 2000,
All the Right Moves, A Guide to Crafting Breakthrough Strategy
, Harvard Business School Press, Boston, p. 118.
McKinsey & Company 2014, Building Organisational Capabilities, viewed 5 September 2014, < www.mckinsey.com/insights/organization/building_organizational_capabilities>.
Moore, S, 'Strategic Human Resources Management Winning Your Seat at the Executive Table '.
Roehling, MV, Boswell, WR, Caligiuri, P, Feldman, D, Graham, ME, Guthrie, JP, Morishima, M & Tansky, JW 2005, 'The future of HR management: Research needs and directions',
Human Resource Management
, vol. 44, no. 2, pp. 207-216.
Society for Human Resource Management 2012, 'SHRM Research Spotlight: Future HR Challenges and Talent Management Tactics', SHRM Research.
Stalk, G 1992, 'Competing on Capabilities: The New Rules of Corporate Strategy',
Harvard Business Review
, vol. 70, no. 2, pp. 54- 66.
Talentmgmt 2014, Building a Capabilities Driven Company, viewed 15 September 2014, <http://www.talentmgmt.com/articles/building-a-capabilities-driven-company>.
Ulrich, D 1991, 'Organizational capability: creating competitive advantage',
Academy of Management Executive
, vol. 5, no. 1.


Charles Darwin, “On the Origin of the Species by Natural Selection”, 1859
Business Trends
New Leadership

The C-Suite - Time for version 3.0
Gen X & Gen Y are increasingly enigmatic to Boomers

Shortage of skilled workers
Why a Business Fails?
“Nearly 40% of the top 2500 CEO's have been removed from their posts. Nearly all of them, due to a failure to execute the strategy.”

(Bossidy & Charan)

Why a Business Fails?
No business plan, marketing strategy, differentiation
Financial reasons i.e. under funding..
Strategy (goals, objectives & measures)
Failure to understand the industry & the target customer
Poor people management skills

HR Related Implications
& Challenges
Talent management
Acquiring, retaining and rewarding
Developing the next generation of corporate leaders

HR Related Implications
& Challenges
Diversity in the workforce
Technology
More competitive global business landscape
More complex legal environment

HR Related Implications
& Challenges
The aging of the workforce & retirement of the Baby Boomers generation
Social is here to stay
Involvement of the C-Suite
Lack of employee engagement and loyalty

“A capability is anything an organisation does well that dives meaningful business results.”




Why are Organisational Capabilities Important?
(Stalk 1992)
Why are Organisational Capabilities Important?
Creates a sustainable competitive advantage
Differentiates it from rivals
More difficult to copy
Higher returns versus industry average
Faster growth
Flexibility and responsiveness
Easier to enter new markets

(Stalk 1992)
Product/Market Based Capabilities

(Markidies 2000, p. 118)
Processed Based Capabilities

(Stalk 1992)
How to Build Organisational Capabilities
Building block of corporate strategy are not products and markets but business processes.
Competitive success depends upon transforming a firm’s key processes into strategic capabilities
Needs investments in support infrastructure
The champion of a capabilities-based strategy is the CEO

(Stalk 1992)
How to Build Organisational Capabilities
Wrong Questions

Where do we want to go?
What do we want to do?

Right Questions

Who do we want to be?
How should we differentiate to create value?
What does the company already do well?

Communication & Training
Snr. Mgmt. team to set the capabilities agenda
CEO needs to communicate it constantly
Training programs need to support the company’s strategic capabilities
Snr. Mgmt. team to spend time on the capabilities (defining roles, responsibilities, decision rights, etc.)

Activity
Back to Reality
Traditional HR Functions
Business Trends & Why a Business Fails
HR Related Implications & Challenges
Why Change HR & Future of Business
HR Leadership & Representation at Board Level
Organisational Capability
Activity - Back to Reality
Conclusion
4 mega-trends influencing the overall need for change:

1. Mobility

2. Analytics

3. Cloud computing

4. Social Media


www.youtube.com 'The Future of HR. Are you ready?', Podcast
Shifts That are Re-shaping HR Roles
FROM:

Local markets, operations
Manufacturing, clerical work
Hierarchy
Intermediaries; face-to-face
Obedience to formal authority
Stability, efficiency, control
Full time job
Customer service
Work done by employees
Fixed work location
Management prerogative
Loyal service
White, male workforce
Financial performance
“Get a job”

TO:

Global markets, operations
Service, knowledge work
Networks
Direct access, virtual relationship
Questioning of formal authority
Change, creativity, flexibility, order
Part-time and project work
Shareholder, stakeholder value
Work done by many contributors
Diverse work locations
Social licence
Marketable knowledge, skills
Diverse workforce
Tri-Bottom Line
Get a life

(Macquarie Graduate School of Management, 2001)
View of the future
TOP 5 BUSINESS CHALLENGES

Developing new markets
Improving profitability
Market share growth
Becoming the recognised global market leader
Building shareholder value

TOP 3 HR CHALLENGES

Attracting and retaining talented people
Improving organisational capabilities
Developing leadership skills
Developing a competitive Employee Valuation Proposition
Changes in HR?
Emerging Markets influencing change.
Select the right HR managers as many lack business acumen
HR must make the ROI business case at top level management
HR will need to be creative to implement strategic workforce planning program with reduced resources and personnel
New employment legislations
Global trends in education
Global demographic shift
Values and attitudes towards work/life balance
Talent needed vs. talent available
Women and people of colour, education and workforce participation

(Macquarie Graduate School of Management, 2001)
(Macquarie Graduate School of Management, 2001)
Expectations from HR by Executives
Profit generated per employee (ROFE)
Salary/Wages compared to industry median
Cost/risk due to time lost through injuries, absence, disputes
Time taken to satisfy customer orders, complaints (compared to agreed service standards)

(Macquarie Graduate School of Management, 2001)
Future of business/organizations
More consolidations/mergers
New technologies and impact on business
Task or project based work and impact on bottom line
Lean

(Macquarie Graduate School of Management, 2001)
4 Essential Elements
Being the best at anything requires desire, discipline, dedication and sometimes a touch of daring too. In the case of Human Resources professionals seeking to find the "holy grail", (i.e. a permanent seat at the executive table) this translates to an understanding of, and real commitment to, the following principles:

Desire

Discipline

Dedication

Daring


(Moore, S)
More Dynamic Business Environments
Strategy is a “war of movement” rather than a “war of positon”
Markets fragment and proliferate
Product life cycles have accelerated
Globalisation means more competitors

Why a Business Fails?
HR Implications & Challenges
(Deloitte Development LLC 2014; SHRM 2012)
(Deloitte Development LLC 2014; SHRM 2012)
Organisational Capabilities
(Ulrich 1991)
(Deloitte Development LLC 2014; SHRM 2012)
(Hopp & Zenk 2012)
(Hopp & Zenk 2012)
(Hopp & Zenk 2012)
(Macquarie Graduate School of Management, 2001)
(McKinsey & Company 2014)
(Talentmgmt 2014)
(Talentmgmt 2014)
Full transcript