Contact: Lisa Barry
Deloitte
National Human Resources Partner
0418 131 645

Contact: Roslyn Johnson
Deloitte
Media & Communications Manager
0411 402 006

Deloitte today launched HR That Means Business – the second of Deloitte Human Capital’s provocative new 'Strategist and Steward' book series that looks at the challenges facing business today and the implications for human resources.

According to the report, next generation human resources (HR) transformation positions HR as a vital business partner in creating shareholder value.

Lisa Barry, Deloitte's national Human Capital Partner, said "For the past 10 years, HR has focused on transforming its operations and improving transaction efficiency. And while significant improvements have been made, the impact of those improvements is limited."

"After all, HR operations and administration typically represent less than 1% of a company's revenue, so even huge efficiency improvements have a relatively small impact on the bottom line," she said.

"To make a real difference, HR must focus on activities that create value in the other 99% of the business.

"The good news is the opportunities for HR to do just that are huge and growing.

"Companies face a wide range of talent-related challenges that are expected to have a major effect on performance. A competitive global market for talent.

International expansion. Market pressure for sustained revenue growth. Intense regulatory scrutiny.

"In the years to come, how effectively a company addresses these kinds of business issues will determine success or failure.

"We believe that HR can play a much larger role in helping companies compete successfully and achieve their overall business objectives," said Ms Barry.

Access Deloitte report:  HR That Means Business

Access Deloitte related publication:  Global HR Transformation