HR Insights and News
Discussions about Human Capital in business are no longer just about disclosure. Human Capital is also about the investment companies make in training their teams to learn and use new technology tools. Companies are also looking for ways to incorporate Human Capital Management (HCM) into their organisation to drive profound, proactive and positive impacts on their culture. Human Capital is gaining momentum and it is here to stay. Moving forward, here is how I see Human Capital impacting the ever-changing world of work.
Will News
Will Asia Pacific today announced the resignation of Chief Executive Officer (CEO) Robert van Stokrom from member company DFP Recruitment Services with his last day to be Friday 11 March, 2022. The Will Asia Pacific Board have confirmed van Stokrom will be replaced by DFP’s current Chief Operating Officer (COO) Kate Coath.
As a result of the pandemic, we are now seeing the workforce and workplaces transform at a pace we never expected. We’ve witnessed HR evolve from merely a support function to a strategic leader capable of making impactful and critical business decisions. Moving forward, HR’s role will continue to develop as it builds a roadmap for employers to navigate for a progressive 2022 focused on stakeholder capitalism. With HR taking the lead, here are 5 important priorities to maximise.
HR Leadership, HR Insights and News
According to several surveys, millions of employees all over the globe are planning to leave their jobs in the coming months. The Covid-19 pandemic exposed poor management and engagement practices among organisations that led to a talent exodus, and many are afraid that it will keep going. Executives are going back to the drawing board to develop strategies to retain their top employees or attract new top employees. Is it possible that the answer is in front of us all along? It is. Authentic, impactful, and proactive employee experience starting from the candidate stage until the establishment of career transparency could, in fact, be the answer to avoiding staff resignations.
As organisations design strategies to become more sustainable, they are rarely focussing on human capital. However, research and common sense show that the most significant opportunity to achieving business sustainability is engaging and investing in people.
HR Tech
As AI (artificial intelligence) integration in the recruitment process becomes more extensive, value for both organisations and hiring teams is growing stronger. Ethos BeathChapman (EBC), one of Will’s hero brands with a global presence in executive recruitment solutions, is seeing impactful results with this type of technology investment. For EBC, the possibility that recruitment as an industry is well on its way through an AI-driven transformation is becoming a reality. We’ve interviewed EBC Asia’s Director, Hamza Mush, to get more insights as to why AI is considered an accelerator for winning the war for talent.
HR being a strategic leader is imperative in the future as it is in the present. State of work will continue to deal with unprecedented disruptions and changes that is why it is more important than ever to embrace business and workforce sustainability. HR itself is in the midst of a major transformation that would redefine how organisations should take care of their people, especially their employees.
Jobs and skills are evolving. The need to reskill and upskill employees are no longer just a trend. Organisations are concerned about the lack of skills their workforce needs to thrive in the future. Relevant skills strategies for employees are top of the agenda among business leaders today, especially for HR executives.
Human capital topics are making their way to the table. Business leaders are diving deeper to better understand human capital and to establish dynamic strategies that would enable all stakeholders to thrive.
Attracting and recruiting top talent takes a lot of work and time to accomplish - keeping them on board is a different story. Employee retention remains one of the biggest and growing challenges for organisations, one that has the potential to hold back an entire organisation and its workforce from achieving a successful transformation. It would appear that many organisations believe that better compensation is the key solution to getting people to stay, it's not. The key is establishing employee loyalty by enabling them to engage and express themselves through meaningful work, guided by purpose-driven leadership.
The need to re-engineer the recruitment process is more important than ever. The Covid-19 pandemic accelerated major shifts in recruitment that forced many organisations to rethink their traditional hiring practices. Organisations, and Recruiters, must evolve with the changing talent landscape to remain competitive for top talent. This entails embracing data-driven, candidate-centred design and virtual ways without losing sight of the human connection that paves the way for a positive candidate experience.
HR Leadership
WOMEN LEADERSHIP in the workplace today is ushering in a future of work wherein female professionals are valued for their skills, expertise, knowledge, critical thinking and conviction. Women leaders today are breaking down the barriers that for decades held women back in reaching the recognition, opportunities and achievements they deserve.
‘What it means to be a great employer’ is something business leaders struggle to quantify or put into action. How employees and customers recognise great employers today is different from how they distinguished them in the past. Understanding this massive shift in perception is vital for organisations and business leaders to thrive in the future of work.
Intangible assets such as corporate culture, employee wellness and transparency are becoming more pertinent in today’s business. The future of work will revolve around non-financial data with organisations embracing the agenda of stakeholder capitalism, advocating the people and the purpose.
Covid-19 is without a doubt one of the greatest catalysts that drove the workforce and the workplace to evolve. Business transformation became the top business mandate for thousands of organisations to brace the complexities of the global pandemic and shield millions of employees. With the conclusion of 2020, we look forward to a better year, facing uncertainties with HR in the driver’s seat. Despite consistent resistance and backlash from senior executives, HR continues to take the lead.
Human Resources (HR) is making its way to the boardroom table and bringing with it, the focus on human capital measurement as the key driver for the future of work and prosperity of employees and companies. However, within the HR function, not everyone acknowledges HR’s role as a leader in driving organisational transformation and total talent solutions.
As Human Capital Management (HCM) leaders forge their way into the boardroom, we are also seeing ESG (Environmental, Social and Governance) factors increasingly influence organisations in rethinking corporate decision making and risk evaluation. Just like human capital, utilising and understanding ESG in its many forms is crucial for organisations looking to brace the future of work and the rewards it can deliver.
Human capital (HC) is vital to the DNA of how we do successful business in the present, and the future. Human capital reporting has now become less of an operational requirement and far more of a strategic imperative. For organisations to ensure they are building a truly sustainable business they must be able to report, interpret and make decisions from their human capital reporting.
Measuring and reporting financial metrics to prove the return of investment (ROI) on human capital proves to be an ongoing challenge for HR leaders. In the modern workforce, there are emerging directions and opportunities on how to define human capital metrics in financial terms. To realise this would enable a complete shift in the thinking, investment and overall design of work, the workplace and employee engagement for future generations.
In today’s organisations needing to move forward and achieve true transformation, there are three clear requirements that HR leadership must deliver to confirm its significance in providing strategic value within its organisation and at the same time address evolving demands from employees.
