Ways HR Creates More Value for Business

By Aatmika Bharadwaj, 3rd Eye Advisory Ltd

There has been a tectonic shift in focus of organisations from traditional human resources to strategically aligned HR. The role of human resources in modern organisations is quite different from that in traditional companies. No longer is HR merely resource administration but the function has increased with strategic focus on key business imperatives.

Despite the fact that operational part of HR is unavoidable, a significant need that has off late is to hire and train HR personnel that can connect to resources on all level. While it is true that the operational part of HR is unavoidable there is need to train and involve HR on strategic level.

Following are four ways that HR can create and add more value for Businesses:

1. HR Focus should comprise of both Internal & External Stakeholders: strategically aligned human resource teams keeps a clear focus on the business as well stakeholders of the business; this includes employees and managers inside the company, and it also encompasses customers, investors, and communities outside. The value of HR is not just what happens inside the company but outside as well.

2. Making use of Technology – Digital HR: In order to deliver value, Human resource professionals must understand that in order manage well in a digital age, both efficiency as well as technological innovation are required. Additionally, it also requires the ability to choose the right medium of digital solutions that is customised as per requirement and help build connections in this digital age.

3. Designing the right HR department: To ensure that HR delivers optimum business value, the department needs to be organised in a way that both efficiency and effectiveness can be achieved. In order to be that, HR departments should be strategically aligned to organisational goals. This would mean, that in a centralised business, HR could also be centralised; Comprising a common set of HR policies and practices throughout the organisation. Subsequently, if the business model is decentralised, then HR should be decentralised as well. It has become imperative for organisations to align their respective human resource departments in line with strategic goals.

4. Focus on building the right HR competencies & empowering managers: Research has established that there are certain HR competencies that every HR department/professional must develop. Finally, intermediate HR managers who are accountable and responsible for the work should be empowered to take strategic decisions around talent and leadership.

Human Resource team leaders in global organisations are constantly directing their teams towards become more strategically relevant and oriented.

Advertisements

Things that are hurting your career

A recent survey revealed that as many as 83% of people had personally witnessed their peers/acquaintances take a miscalculated career step that had a negative impact on their career. Interestingly, 69% of the respondents admitted to having personally done something that adversely affected their own career. As many as 31% of respondents felt these career mistakes made by them resulted in loss of job or withheld their promotion and as high 11% admitted that these wrongdoings damaged their hard earned reputations.

#ask3rdEyeAdvisory #LearnAt3rdEyeAdvisory #3rdEyeAdvisory

http://3rdeyeadvisory.com/know-how/things-that-are-hurting-your-career.php

CPP Experience at 3rd Eye Advisory Limited

@Ritika Dhawan states what she has learnt from 3rd Eye Advisory -“At this point of time, I personally feel that I’m way ahead of my peers as I not only have a deeper insight of the domain but also have practical knowledge of what I was taught in my college, which is a must to survive in such a competitive world.”

Know more about her learning at https://3rdeyeadvisory.com/people-and-culture/wonderful-organization-for-employee-development.php

Internship Experience at 3rd Eye Advisory Limited

“After completing my internship with the company I was hired as a part timer as I stayed in New Delhi for college and worked from home.

The experience as an intern has been great and I have learned a lot from the researches, live projects and under the supervision of the senior members of the company.” statement by Tarandeep Singh. Learning experience of Tarandeep Singh can be read on https://3rdeyeadvisory.com/people-and-culture/done-researches-and-live-projects-of-great-companies.php

Balanced Score Card by 3rd Eye Advisory Limited

The development of the HR Balanced Scorecard without the business and HR Strategy leads to chaos as the employees and managers see the priorities differently and the balanced scorecard includes chaotic measures and chaotic goals. The implementation of a such balanced scorecard cannot be successful as the internal clients do not see a compact picture, but they see a mess in Human Resources. #ReadyBusinessPlan #ask3rdEyeAdvisory #LearnAt3rdEyeAdvisory #3rdEyeAdvisory Watch the video to know more about #BalancedScoreCard by Garima Saxena-Business Advisory 

HR Issues in Merger and Acquisition

Hi,

Lets read about A case study on Sun Pharma’s announcement of acquiring 100% of Ranbaxy Laboratories Ltd by Garima Saxena-3rd Eye Advisory Limited Many studies are pointing to the neglecting of HR issues as the main reason for merger and acquisition failures. She finds that senior executives must realize the importance of HR issues in the success or failure of mergers, they are not doing enough to encourage the involvement of HR teams and employees in merger and acquisition process… #LearnAt3rdEyeAdvisory #3rdEyeAdvisory

Read more at: http://3rdeyeadvisory.com/know-how/hr-issues-in-merger-and-acquisition.php