I recently encountered a research study of Gartner which claims that only 9% of CHROs believe that their organization is prepared for the future of work. Companies are transforming digitally which has become a top priority for CEOs. Digitalization has been remodeling the business terrain, but are we prepared as far as the skills are concerned? 2020 has been a really tough time. I feel it has made us visualize the future requisites of every business.
Critical thinking, creativity, leadership, and communication are the core attributes of every CHRO. But do you think they are enough under the future pursuit of an organization? In today’s uncertain conditions if an organization has to operate successfully it has to prioritize the critical needs of 2020. Skill gaps are already generated by digital transformation. According to me, a complete restructuring of skills is imperative for the future.
Listed below are four significant skills that HR leaders need to build for their organization to thrive in the future.
Rapid Communication
I have observed many companies still follow the traditional practice of annual reviews. But when the deep-rooted business models are being cluttered employees need to be in a loop of regular communication. Work from home is acting as a hurdle in regular and smooth communication. It’s the responsibility of HR to make sure that employees do not feel isolated or left out due to this gap. Being vigilant toward there queries and providing them feedback on regular basis is the need of the hour.
Responding to employee needs quickly, communicating those fast-changing policies, and becoming an efficient two-way communicator will be integral to any organization. The human side and the digital side of the workforce have to be balanced. The use of AI-powered performance tools in this scenario proves to be very effective. Multiple industries are adopting these tools across the world. Data-driven performance management enables HRs to rely on factual information to make decisions. When you make use of artificial intelligence you can collect information from multiple sources. It enables managers to extract accurate information. It also removes bias.
CHROs can even hire a data scientist. They are big data wranglers. They gather and analyze a large set of structured and unstructured data. Their major task is to analyze process and model data and then interpret the result. This contributes to making quick action plans for the organization. They also help in communicating complex business ideas and arriving at data-driven conclusions. This approach will prove to be fruitful for the organization in the future.
Think Strategically
I have a very interesting example here. Have you ever gone fishing? For some its just for the love of relaxing and calming while for others it's catching the fish. These sets of people who want to fish for dinner become frustrated if they are unable to contribute to catching fish. The position of HRs is similar to this. Some are only limited to maintain HR tasks and taking care that everybody needs what they want. But some get involved in executive meetings and contribute to the company’s development. This involves strategic thinking. Strategic thinking is on the top of overall competencies CHROs need now. During the pandemic, its importance has been increased gradually. HR leaders have stepped into unprecedented challenges this year. As we are moving towards recovery HR leaders will be expected to acquire new competencies for the re-growth of business. Now is the time when HRs are expected to make a real difference in the direction our companies are headed. Here are a few measures to do the same.
Understanding of how strategic business work is very necessary before contributing to any HR strategy. Getting formal training in areas like data judgment, business acumen, and leadership, the leveraging network can be effective in giving helpful suggestions.
The more you know your company, the more you will be able to contribute to its growth. Try to dig deeper and experience the work in every field. This will enhance your professional value.
Learning business metrics like profit margin, ROI, TSR, employee attitudes, performance distribution, and integrating them in business strategies will add to invaluable contribution in achieving business goals.
Future-Ready Workforce
Digitalization is rapidly changing the required skills and competencies of employees. With these changes becoming long term employees lack the skills that are necessary for future performance. Here the role of HR is to provide skill-building opportunities for its employees. Developing new strategies in terms of performance, reward and training has become very essential. Skill development must be a continuous and on-going process in an organization. When this is made a part of the organization’s culture employees will take learning into their own hands and will be responsible for their career paths. Curiosity to learn and open-mindedness towards adopting new ways of working can be embedded in every aspect of a company where learning is a value and growth is a mindset.
Strong Leadership Bench
Up-skilling and reinventing have become equally important for both employees and leaders. The expanded responsibilities and heightened expectations have become a two-way process now. I went through a report which stated that 45% of HR leaders are struggling to develop effective middle-level and senior-level leaders. To resolve this HRs can experiment with “Complimentary Leadership”. It emphasizes on identifying key skills of leaders and sharing leadership responsibilities with them. A research stated that leaders who followed complementary leadership recorded a 60% hike in the team’s performance and a 40% hike in individual performance. This approach provides breadth, depth, and agility for both current and future business opportunities. As per employees' perspective future workforce can also be the right mix of project-based freelancers and full-time staff. Reskilling and up-skilling of employees will be very essential for the future proof organization.
Takeaway:
Uncertainties are a part of every organization. All we can do is to be prepared for these uncertainties. Adopting new technology and making your workforce future-ready is extremely important. These key skills are the need of HR leaders to thrive in the future.
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