BlogIs Your HR Function Ready?

With more positive news entering the market that the economy is showing some signs of improvement now is an important time for HR functions to ensure they are ready to provide strategic advice to their business. With the last 18-24 months being continual downsizing and with the word “redundancy” being on the tip of everyones’ tongue, companies now need to be sure they have the right skills and talent to push their businesses forward.
In a report in HR Magazine it was reported that more than half of HR Directors are unable to provide strategic data on their business, which is a very worrying statistic.
“According to Logica, 70% of HR directors think that lack of clear data will lead to skills gaps in their business and more than a third (35%) do not think their HR systems are good enough to support a business change in response to a potential economic upturn.
The survey also shows 27% do not have a plan for an economic recovery although 70% of businesses have suffered from skills shortages due to lack of foresight in the past.
Patricia Taylor, Global HR services and UK Business Process Outsourcing Director at Logica, said: “Most business leaders see talent as a top priority and have rightly moved far beyond thinking that good business performance directly corresponds with good talent management. Logica is ready to assist our customers by providing strategic information back to the organisation through the proper use of data to ensure the right decisions are taken.”
So for HR it is essential that they have robust talent management programmes in place, otherwise for many they will be left behind as the market improves. Also effective resourcing strategies will be essential and for companies to be partnering the right recruitment consultancy firms to understand where the best talent can be sourced to fulfill their growth strategies in the future. Through personal experience many organisations leave it too late or put too much emphasis on direct sourcing, therefore losing out on some of the best talent which is currently available in the market.
With the survey demonstrating some concerning figures in how HR functions are not integral to their overall business strategy, it would be great to hear what you are doing to ensure your HR strategies are in place for the upturn.