by Ana Lucia Jardim Evans and Stacey Porter
In 2006, Lombardo and Eichinger found that the role that executives most asked from HR (Strategic Partner) was also the role that HR was least skilled at. The introduction of the HR Business Partner and other progressive models has significantly improved HR efficiency and stakeholder access to services. But some still argue that HR is too focused on the administrative processes, while missing key skills in solid business and operating fundamentals. In order to have a “seat at the table”, HR needs to “bring value to the table”. The top HR jobs should therefore be taken by leaders who are very competent both in their specialty as well as in the business.
To accomplish that, Allan McCarthy of HumanResourcesIQ suggests a 4-step revolution for HR:• Gather HR experts and create an action plan (this is what BOLD is looking to accomplish with the March 31st workshop “HR- from Transaction to Transformation in 2010”).
• Get key stakeholders (opinion leaders, executives and consultants) to endorse the plan
• Define and harmonize key features of the HR profession, such as standard credentials and performance metrics
• Create a solid brand and communicate it to stakeholders, including business leaders and current and future HR talent
While the HR revolution is under way, there is still the opportunity today to strengthen the Strategic Partner role. According to a Corporate Leadership Council (CLC) survey published in November 2009, the life of a strategic plan in times of economic volatility is 2 months, compared to 10 months in average conditions. The short life of current plans and the need to integrate with the business were also identified by participants of BOLD’s 10th Annual Life Sciences HR Forum (The State of the Life Science Industry: Emerging Trends and Practices for HR). In addition, the Forum highlighted:
• Fewer IPOs and more M&As, creating an opportunity for HR to upgrade personnel and cultivate existing talent
• Focus on developing internal capabilities that improve business efficiency, such as conflict resolution, running successful meetings and influence skills
• Increased importance of virtual corporations
• Preference for external consulting vs. building internal HR infrastructure in times of economic recession and lower hiring rates
To create a robust HR Strategic Plan that meets these challenges, the CLC recommends a simple framework:
1) Gather Information:
• Align the HR and the business planning calendars
• Understand objectives, successes, challenges, aspirations and preferences of leaders
• Translate those into critical HR capabilities and assess the current state
2) Define Strategy
• Prioritize based on business strategy and current capabilities
• Create and integrated plan and identify metrics
3) Communicate Strategy
• Obtain executive approval of the plan
• Targeted communication of the plan
4) Monitor
• Measure and report progress towards strategy
• Adapt strategy as necessary to mirror shifts in the business
We will also be discussing HR Strategy and how to take “HR from Transaction to Transformation in 2010” in our upcoming BOLD March workshop on March 31. Come join us for this exciting discussion and participate in the HR revolution!
To dive deeper into these topics and access original resources, click on the following links:
• The DNA of HR, by Allan McCarthy- HumanResourcesIQ, February 2010
• Corporate Leadership Council’s HR Strategic Planning Workbook (November 2009). Available to members at www.clc.executiveboard.com
• 100 Things You Need to Know: Best People Practices for Managers & HR, Eichinger, Lombardo & Ulrich ©2006, Lominger Limited, Inc.
• Fewer IPOs and more M&As, creating an opportunity for HR to upgrade personnel and cultivate existing talent
• Focus on developing internal capabilities that improve business efficiency, such as conflict resolution, running successful meetings and influence skills
• Increased importance of virtual corporations
• Preference for external consulting vs. building internal HR infrastructure in times of economic recession and lower hiring rates
To create a robust HR Strategic Plan that meets these challenges, the CLC recommends a simple framework:
1) Gather Information:
• Align the HR and the business planning calendars
• Understand objectives, successes, challenges, aspirations and preferences of leaders
• Translate those into critical HR capabilities and assess the current state
2) Define Strategy
• Prioritize based on business strategy and current capabilities
• Create and integrated plan and identify metrics
3) Communicate Strategy
• Obtain executive approval of the plan
• Targeted communication of the plan
4) Monitor
• Measure and report progress towards strategy
• Adapt strategy as necessary to mirror shifts in the business
We will also be discussing HR Strategy and how to take “HR from Transaction to Transformation in 2010” in our upcoming BOLD March workshop on March 31. Come join us for this exciting discussion and participate in the HR revolution!
To dive deeper into these topics and access original resources, click on the following links:
• The DNA of HR, by Allan McCarthy- HumanResourcesIQ, February 2010
• Corporate Leadership Council’s HR Strategic Planning Workbook (November 2009). Available to members at www.clc.executiveboard.com
• 100 Things You Need to Know: Best People Practices for Managers & HR, Eichinger, Lombardo & Ulrich ©2006, Lominger Limited, Inc.
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