A recent research study released by Bersin & Associates in January confirmed for me something I have believed and lived by throughout my career. It’s not the quantity of your HR team; it truly is the knowledge and skills they bring to the table and the empowerment and support given by the organizations CEO and other senior leaders that makes it successful. You can say I have been lucky enough to work for extremely dynamic CEO’s. In some cases it’s true, I have worked with great leaders, but I have also had my share of the closed mindset CEO who doesn’t know or care what HR does as long as people get paid and have benefits. It was up to me and my staff to demonstrate the value they were missing out on.
This study looked at 720 organizations globally and found that the days of bloated HR organizations focused on administrative tasks is over. This is great news for HR Leaders, who are often so tied to all those administrative tasks that they can’t look at technology and other options that will enable them to get to the business and people needs. It proves that lean, technology-enabled, well-trained HR teams are able to take advantage of modern talent practices and partner with business leaders to drive impact.
These findings emerged from a two-year global benchmarking study that looked at 14 talent management and HR effectiveness measures across global businesses. Among the measures examined include a company’s ability to:
- Source the best talent.
- Hire and onboard top candidates.
- Identify and develop leaders.
- Build a culture of learning.
- Allocate compensation effectively.
- Drive high performance through coaching and feedback.
The research determined that Companies that empower key HR professionals to take on a strategic business partner role create HR teams that outperform the average HR organization by 25 percent or more. This means these HR leaders are working closely with line executives on hiring the right people, coaching, leadership, succession planning and yes process improvement.
HR still needs to continue to excel at the basics. Payroll, benefits, and administration are still critical factors in business success, and today these functions must be modified to be able to deal with a highly contingent workforce.
The report, The High-Impact HR Organization: Top 10 Best Practices on the Road to Excellence, includes benchmarks, tools, case studies, operational frameworks and proven service models that define best-practice human resources organizations.