While there are many things we do not know about 2021, one thing we do know is that organizations will be focused on getting to what we might want to call the “next normal”. I’m sure there are companies that feel they fell behind in 2020 and they will want to make that up.
A key element to doing that successfully is people. Organizations will need to hire the best talent to help them accomplish their goals. And HR’s role in this strategy will be essential. Over the year, we’ve published a few articles about HR’s value in aligning talent management with the business. I thought this might be a good time to revisit them, especially the ones on business acumen and people analytics.
As companies look at their goals for the next 12-18 months, they will want to have the right talent in place. That means having the right talent management strategy. We need conversations right now about talent strategies, goals and management. None of this is going to happen overnight, but it does need to start.
Strategic HR is focused on people analytics as systems data is a part of business analysis. HR helps the organization hire the talent and they are a significant part of creating and maintaining culture. They assist in the development of processes and guidelines. And HR systems data is regularly used in analysis. HR departments will be asked to participate in key decisions during their organization’s reopening and recovery. Be prepared to participate.
Every business has problems they want to solve. It could be a small problem or a large one.
People analytics can help HR solve business problems. The power of technology is effective in using data for recruiting and retention. This is definitely one of those moments when we can put the power of technology to excellent use.
HR’s strategic role is to help the organization solve their talent challenges. Because when we do, that benefits the bottom line. The first rule of solving business problems is to get buy-in. Not only from senior management but from employees. For example, we’ve been talking about using technology to improve the employee experience (and reduce turnover).
People analytics is about using the data and our reasoning abilities to make business and talent decisions. It’s about asking a lot of questions. What is the organization currently doing? What does the organization want to accomplish? And finally, how do we get from the current state to the desired state? Organizations can use people analytics and data to drive business success.
Over time, I’ve come to realize that business acumen isn’t something you learn once and you’re done. Business acumen is changing all the time. It’s about more than just knowing industry jargon. Yes, it’s true that terms like profit and EBDITA haven’t changed. We have new terms like blockchain, disruption, and light-bulb moment. If you want to be a true business partner and contributor to the business, then you have to know how to really talk the game.
Digital transformation is focused on creating a new way of business. It’s about giving employees answers and empowering them to make good decisions. Technology is able to crunch the numbers, do it quickly, and free up organizations, giving them the time they need to make business decisions. Organizations have to put a solid change management process in place to make the transformation successful.
Organizations are very focused on economic recovery. That’s a good thing. It means companies will be looking to hire employees. For HR departments, this means revisiting the talent management strategy to ensure that the organization can attract, engage, and retain the talent it needs to accomplish its business goals.
Image captured by Sharlyn Lauby while exploring the streets of Las Vegas, NV25