Deloitte research explores future HR trends impacting growth and profitabilityDOWNLOAD
15 November 2012: Businesses need to implement Human Resources (HR) capabilities that actually improve business growth and productivity. This can be done by developing standard, repeatable systems, processes, and capabilities that make it fast and easy for the organisations to enter new geographic markets and integrate new acquisitions according to Andrew Hill, Deloitte Consulting Human Capital partner.
“Our clients are constantly seeking information on the latest in HR transformation and we have worked closely with many colleagues globally, to identify the leading practices that top companies are using to drive the most value from their HR organisations,” said Mr Hill.
Deloitte global research, Global Business Driven HR Transformation: The Journey Continues explores the many trends shaping the way companies need to use their HR functions and their people to improve competitiveness, profitability and growth.
The research explores how the HR transformation journey is different for every global organisation; from established disciplines like payroll, compensation and benefits to emerging ones like cloud computing, analytics, talent operations, and the effects of globalisation.
“HR departments need to be transformed to deliver forward-thinking capabilities which can help companies respond more timely and effectively to changes in the business environment, expand their global footprint, and increase revenue and margins. This leads to improved productivity and business growth,” said Mr Hill.
The report identified that HR departments can add value and contribute to an organisation’s productivity by developing new staffing models that fit a modern workforce, increasingly based on offshore talent, contingent workers, and global mobility.
“While HR transformation is still a developing area that most companies are yet to achieve, HR departments can help organisations address today’s immediate business imperatives and prepare for the future,” said Mr Hill.
Executing the right strategies, HR can assist organisations to address the future’s key business issues, such as growth, globalisation and emerging markets, cost pressures, talent attraction, development and retention, innovation emerging technologies, mergers and acquisitions and risk and compliance.
Sections discussed within the report include:
“Leading HR teams assist organisations in considering where they are in the HR transformation process so that they can develop and hone their HR capabilities to actually develop business strategy rather than just supporting the business,” added Mr Hill.
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