Transforming businesses is the top priority for enterprises today and human resource management (HRM) can help achieve this objective. From enabling enterprises in dealing with the ever-changing labor market and adapting to disruptive technologies to handling social and political changes, HRM is key to success. A Gartner 2019 Future of HR Survey outlines some key initiatives for successful business transformation. Here is a lowdown.

Building Crucial Skills and Competencies

For any business to remain at par with technological disruption, it is imperative to develop employee skills. This is one area where HRM can help by shortlisting the right candidates and analyzing the performances of existing ones. By switching employee job profiles for balance and hiring new ones to suit other requirements, HRM can strategically align business objectives. It can also develop ‘connector’ managers who are able to use employee-centric approaches to coach and train employees.

Strengthening the Leadership Bench

Within every organization, there are people who display more potential than others. This gap in leadership supply can be addressed through HRM to create opportunities for candidates who fit the bill. This way, organizations can have a diverse leadership bench with varied personalities and skills. Such an approach will also retain leaders and their loyalty.

Employee Experience

Employee retention is directly proportional to employee engagement. Effective HRM is thus also about understanding employee experience and considering their feedback, ideas, reactions, and suggestions on various aspects.

Talent Analytics

Surveys that touch on everything from recruitment to task management help in understanding issues around improving employee performance. They also gauge the effect of learning and wellness programmes, something that is key to HRM.

Recruitment

HR hiring strategies have evolved with time and professional demands. Today, they are also focused on managing recruitment and other aspects on different platforms and not just job search websites. In the era of gig workers, HRM can help in bridging the gap between consultants and the organization thereby saving time and money while also growing the network of reliable workers. This way they can help ensure that employees and consultants alike are able to maintain a good work-life balance – doing well professionally while also enjoying life.

In Conclusion

HR leaders today are collaborators, innovators, and drivers of business alike. They ensure that HR functions transcend just recruitment and onboarding to focus on other pertinent aspects HRM thus becomes a critical component in achieving the business objectives of an organization. By enabling coordination of various processes and bringing about a transformation in organizational functions, effective HRM can lead the business to greater heights.