12 Opportunities for HR in 2024: From Support Function to Strategic Partner
This decade has been uniquely challenging to business with economic uncertainty, geopolitical tension, and the aftermath of the largest global pandemic for a century. But in the coming years, disruptions are likely to increase in frequency and severity (1). The business environment is increasingly volatile, uncertain, complex, and often ambiguous (2). Coupled with rapid advances in technology, organisations are transforming at an unprecedented pace and frequency – from ‘episodic transformation’ toward ‘continuous transformation’ (3).
At the same time, companies are confronted with a series of organisational shifts that have significant implications for structures, processes, and people. These include complex questions around finding the optimal balance between in-person and remote work, building new organisational capabilities in the face of challenging workforce demographics and talent gaps, and focusing on developing a healthy, inclusive, and thriving company culture (4).
HR is the CEO's right-hand in enlightened organisations.
(Barbara Lavernos , Deputy CEO at L'Oreal (5)
HR’s journey from support function to strategic partner has accelerated in recent years. During the pandemic, the CHRO and the HR function became as important to the company as the CFO and the finance function were in the global financial crisis (6). The importance of the CHRO and the function they lead will likely continue as many of the most significant challenges facing organisations (see FIG 1) essentially have people elements at their core. The ability of CHROs to assume new responsibilities, drive transformation for the enterprise, and reinvent and upskill the HR function, and therefore meet these higher expectations, will be critical to organisational success (7, 8).
CHROs have the ability to drive a company’s growth and business outcomes by effectively using people strategy, data insights, and technology to the company’s advantage.
Chuck Robbins, Chair and CEO at Cisco (9)
FIG 1:
For over a decade, I’ve published an annual set of predictions or trends that will shape work and HR for the upcoming year. For 2024, I want to frame these instead as ‘opportunities’ rather than ‘predictions’ – mainly because they will likely take more than a single year to play out. They are informed by the research and work we do at Insight222, interviews with guests on the Digital HR Leaders podcast, conversations with senior HR leaders, thinkers, and industry analysts, and market analysis. References are numbered throughout, and a comprehensive list is included at the end of the article.
Get involved – what should opportunities #11 and #12 be?
Readers may note that the title and accompanying image indicate 12 opportunities, whereas only ten are outlined. That is because – as was the case in the previous three years - I’m keen to crowdsource the final two opportunities from readers. What other opportunities should be included? Please let me know in the comments section below, and I’ll add my favourite two to an updated version in the New Year.
THE 2024 OPPORTUNITIES FOR HR
The first ten opportunities for HR to accelerate its journey from support function to strategic partner are set out below:
1. Prove the value of a fairer, healthier, and more humane organisation
One of HR’s key responsibilities as the steward of people and culture in the organisation (10) is to advocate for a ‘people, first’ approach. With record levels of burnout (11, 12, 13), deepening skills shortages (14), and raised employee expectations about work (15), HR has a pivotal role to play not only in hiring, developing, and retaining great talent, but fashioning the culture and environment to enable talent to perform and thrive. Putting wellbeing at the centre, developing an inclusive and equitable culture, personalising the employee experience, and listening and acting on the employee voice, are just four ways to deliver on this opportunity. Collectively, these initiatives are designed to reinforce the ‘H’ in HR and demonstrate that building a fairer, healthier, and more humane organisation isn’t just the ‘right thing’ to do for the workforce, but that it drives business success too (16). Indeed, research by firms including McKinsey, BCG and PwC (see FIG 2) finds that companies that provide a clear people advantage, who consistently invest in building and developing their human capital and imbue a compelling employee value proposition and experience are more resilient and enjoy better financial performance than their peers (17, 18, 19).
FIG 2:
2. Prepare the organisation and HR for the age of AI
While the hyperbole about generative AI has deepened HR’s engagement with AI (20, 21), research from Gartner finds that only 22% of HR leaders are highly engaged in enterprise-wide discussions on the topic (22). HR should seek to play a leading role as early studies find that AI doesn’t just boost operational performance and productivity (23) but can be used to build better organisations too (24). Four areas where HR should lobby to get involved – all while reinforcing the ‘H’ in HR - are (i) Aligning the workforce transformation that will be required due to AI in line with company strategy and vision (25). (ii) Leading on the development of responsible AI policies and enablement programs (26). (iii) Prioritising high-impact use cases for deploying AI across HR programs and the employee lifecycle (27, 28, 29, 30, FIG 3). (iv) Reimagining the work of key HR roles including the automation of repetitive tasks and increasing the focus on high-value strategic work (31, 32) (v) Building upskilling programs for leaders, managers, employees, and HR professionals. Research finds that if companies can activate the growth combination of data, technology, and people, they stand to gain a premium of up to 11% on top-line productivity. (33).
AI is the defining technology of our time, creating a massive paradigm that will transform the way we work with even greater impact than the introduction of the PC
Kathleen Hogan , Chief People Officer at Microsoft (34)
FIG 3
3. Redesign workplaces and work for the hybrid era
Since the pandemic, 90 percent of companies have embraced a range of hybrid work models (35) with most employees now working remotely over 25% of the time (36, FIG 4). Moreover, eight out of ten CHROs say they have no plans to decrease the amount of remote work in the next 12 months (37). Indeed, Nick Bloom predicts here that in the coming years remote work will experience a ‘swoosh effect’ due to the impact of technology as well as new firms and managers being more open to remote. (38, 39). The debate shouldn’t just be fixated on where people work, it should also provide an opportunity to test traditional assumptions about how work is done and whatwork even is (40). It’s likely that this transition will play out over many years (41), and will require experimentation, data collection and analysis, and iterative learning. This provides the opportunity for chief people officers – and their people analytics teams - to play a leading role in the redesign of work and workplaces for the hybrid era. Research is already being published on topics such as when in-person matters most (42, 43), how teams that are intentional about collaboration are more productive (44), and how to drive innovation through adaptive teaming (45). Hybrid is here to stay, so let’s make hybrid work!
FIG 4
4. Shift people analytics from insight to impact
As Isabel Naidoo, chief people officer at Wise, articulated at the Insight222 Global Executive Retreat in Colorado in September, 2023: “People Analytics is the fastest route to credibility for the chief people officer.” (46). Certainly, for HR to be a truly strategic business partner, it has to have an impactful people analytics function. Insight222's fourth annual People Analytics Trends study, (47) finds that the discipline continues to grow in importance and influence with 22% of people analytics leaders now reporting to the CHRO (compared to 13% in 2020). The challenge for many companies is to move people analytics from insight to impact (48, 49). Our research identified eight distinct characteristics (see FIG 5) that set Leading Companies apart from their peers and enable them to deliver value on a consistent basis. Chief people officers wanting to shift their people analytics team to an ‘A Team’ (see FIG 6) should focus on understanding their organisation’s most pressing business priorities and then align and prioritise people analytics activities that will support them. A capable and flourishing people analytics team eases the path towards a quantified organisation (50) and an evidence-based HR function (51) Certainly, people analytics is a foundational capability to helping HR progress and realise the opportunities outlined in this article.
People Analytics is the fastest route to credibility for the chief people officer
Isabel Naidoo, Chief People Officer at Wise (46)
FIG 5
FIG 6
5. Partner more effectively with Finance
Deploying financial capital and human capital together is the secret to the success of a talent-driven organisation (52). If HR seeks to become a truly strategic partner to the business, then it needs to have an effective partnership with finance not least because of increasing regulation about the disclosure of human capital information (53, 54). Research by Insight222 (55) finds that when it comes to delivering value with people analytics, a strong relationship with finance can make the difference. Of the 65 (out of 271 companies) surveyed who confirmed that they had built a partnership with finance, 99% reported that the people analytics team had delivered measurable outcomes over the last 12 months. In HR, we need to be better at building business cases for investment, and in quantifying the commercial value of what we do – just like other business functions. Building a strong and mutually beneficial partnership with finance – like Alan Susi at S&P Global (56) and Laura Wright Shubert at MetLife (57) have achieved – is a good place to start.
6. Build the skills-based organisation
Talent gaps and shortages represent the most pressing challenge that companies face (58), with three-quarters of CEOs being concerned about how the availability of key skills will impact on their growth strategies (59). These talent scarcity challenges will only be exacerbated by shrinking working populations – especially in the G7 economies (60) and rapid advances in technology meaning that 44% of workers’ skills will be disrupted by 2028 (61). This is leading to a shift from the traditional focus on jobs to one on skills (62) and the continued rollout of internal talent marketplaces (63, 64) with one study finding that 90% of companies are moving towards a skills-based approach (65). The effort to do so should not be underestimated with the same study finding that less than 20% are currently adopting skills-based approaches to a significant extent. While it is still early days, benefits cited by companies that have made this shift include (i) Standard Chartered unlocking productivity of $2.1m from a talent marketplace pilot in India (66, 67), (ii) IBM improving diversity through skills-based hiring (68), (iii) Unilever increasing productivity by 40% and significantly reducing attrition through its internal talent marketplace (69), and (iv) J&J democratising career development and mobility for its employees (70). The undoubted potential of skills-based approaches for hiring, learning, internal mobility, compensation, and workforce planning is tantalising, but it also makes it difficult for organisations to know where to start. HR can help by identifying a challenge in a specific business function and/or location, partnering with a senior business stakeholder and piloting a skills-based approach, starting to build a skills taxonomy, and then learning and iterating as you go.
As companies jostle to build a complete picture of what they need (for the future of work) and how to get there, we’re fast learning that the real currency is skills
Placid Jover, Chief Talent Officer at Unilever (71)
FIG 7
7. Make workforce planning strategic
The shift to skills, the pace and frequency of transformation, and rapid technological advances have all increased the urgency for organisations to become proficient in strategic workforce planning. It is now a top three challenge for people leaders (see FIG 8, 72). The availability of data-driven insights is altering the landscape with responsibility for SWP increasingly coming under the auspices of the people analytics team – this is the case in 50% of companies, based on 2023 research by Insight222 (73). This is driving the expansion from a pure focus on cost and operational based workforce planning to strategic and skills-based workforce planning (74, 75), which enables organisations to get a clearer view on future talent needs and how to close any gaps (76, 77). Steps for HR leaders to do this well include (i) Linking SWP to the business strategy (78). (ii) Joint ownership of SWP with the business and close collaboration with finance. (iii) Prioritising the most critical workforce segments. (iv) Focusing on skills as well as cost. (v) Combining HR, business, and external data to get a full picture (79). (vi) Measuring the impact of workforce planning activities and linking these to business outcomes. (80, 81)
FIG 8
8. Advance diversity, equity, inclusion and belonging
The business case for diversity, equity, inclusion and belonging (DEIB) continues to grow stronger. In a recent McKinsey study, leadership diversity is convincingly associated with company performance, societal impact, and employee experience (82, FIG 9). Moreover, research by Insight222 found that in 2023 – for the third successive year - DEIB is the area where people analytics is adding the most business value (83). These timely reminders of the value of DEIB are important in a year where the US Supreme Court ruling on affirmative action led to some companies rolling back on their DEIB initiatives (84, 85). As such, HR leaders have a critical role to play in advancing the DEIB agenda in their organisations, demonstrating that it isn’t just the right thing to do, but that is demanded by employees and leads to better business outcomes. People analytics can help in terms of enabling the organisation to measure outcomes and drive action (86), using advanced analytics to get deeper insights on belonging and inclusion, and supporting organisational moves to be more transparent – including providing data that forms the basis of annual DEIB reports e.g. Microsoft (87). Also, with demographics meaning that 150 million jobs will shift to older workers by the end of the decade (88), HR has an opportunity to ensure that their organisation is able to attract, develop and retain older workers, and enable them to thrive.
FIG 9
9. Empower and invest in people managers
75% of HR Leaders say that their managers are overwhelmed by the growth of their job responsibilities (89) while more than 50% of managers report feeling burned out (90). These concerning statistics are not surprising given that the role of the manager is being changed beyond recognition due to digitalisation, hybrid work and agile initiatives (91, 92). The pressure is exacerbated by companies cutting middle management roles in the current macroeconomic climate. Given that studies find that investing in people managers leads to better firm financial performance (93) and is key to realising the opportunities from AI (94), it’s time to better support and empower people managers. One way HR can do this is through democratising people data to help managers to be more productive, support decisions on hiring, promotion and pay, and equip them with insights to be more effective and human leaders. The benefit of successfully democratising people data to managers are vast, with one 2023 study calculating that in a 10,000 person organisation, this could amount to $400 million in cost savings, and almost $200 million in revenue expansion (95, 96). HR leaders can also support people managers through being more thoughtful about spans and layers, reimagining the role of the manager, implementing capability building programs, and prioritising manager experience and wellbeing (97).
10. Prioritise HR upskilling
If HR is to become a true strategic partner to the business and realise the opportunities from new operating models (98) then chief people officers need to prioritise efforts to upskill their HR professionals – particularly on topics such as business acumen, technology, and analytics (99). At Insight222, our HR in the Digital Age study identified nine skills for the future HR professional to be more data driven, experience led, and business focused (100, 101). Additionally, our 2023 study, Upskilling the HR Professional: Building Data Literacy as Scale, highlighted the critical role of the chief people officer and their direct reports in role-modelling the use of people data and analytics (102). With another study by Mercer finding that 41% of chief people officers wish they had had greater depth in people analytics prior to assuming their roles, there is clearly significant room for improvement (103). On a more positive note, 55% of companies now say they have a data driven culture in HR, which is up from 42% in 2021. 2024 is the year to improve this further, and from a data literacy perspective, Insight222 research highlights five skills (see FIG 10) that HR professionals need to develop (104). Moreover, the study also highlights that the investment required is between $600-$800 per person for an upskilling program (see example in FIG 11). Now is the time to invest in upskilling HR professionals.
FIG 10
FIG 11
References
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(77) Laura Wright Shubert and David Green ?? - How MetLife Made a Success of their Strategic Workforce Planning (Digital HR Leaders podcast, myHRfuture, 2022)
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(90) Dawn Klinghoffer and Katie Kirkpatrick-Husk PhD - More Than 50% of Managers Feel Burned Out (Harvard Business Review, 2023)
(91) Diane Gherson and Lynda Gratton - Managers Can’t Do It All (Harvard Business Review, 2022)
(92) Stacia Sherman Garr and Priyanka Mehrotra - What’s Holding Back Manager Effectiveness, and How to Fix It (MIT Sloan Management Review, 2023)
(93) Emily Field, Bryan Hancock, Stephanie Smallets, Ph.D., and Brooke Weddle - Investing in People Managers pays off literally (McKinsey, 2023)
(94) Emily Field , Bryan Hancock, Ruth Imose, PhD, and Lareina Yee - Middle managers hold the key to unlock generative AI (McKinsey, 2023)
(95) Lexy Martin - Unlocking Manager Effectiveness: The Next Driver of Value (Visier, 2023)
(96) Lexy Martin and David Green ?? - How to Democratise Data for People Manager Effectiveness (Digital HR Leaders podcast, myHRfuture, 2023)
(97) Bill Schaninger, Ph.D., Bryan Hancock, and Emily Field – Power to the Middle: Why Managers Hold the Key to the Future of Work (Harvard Business Review Press, 2023)
(98) Sandra Durth, Neel Gandhi, Asmus Komm, and Florian Pollner – HR’s new operating model (McKinsey, 2022)
(99) Dave Ulrich, Joe Grochowski, Norm Smallwood, and Joseph Hanson - What Makes an Effective HR Function? (The RBL Group, 2023)
(100) Manpreet Randhawa - 9 Skills HR Professionals Need to Succeed in the Digital Age (myHRfuture, 2023)
(101) Caroline Styr and Ian Bailie - HR in the Digital Age (Insight222, 2021)
(102) Naomi Verghese and Jonathan Ferrar - Upskilling the HR Profession: Building Data Literacy at Scale (Insight222, 2023)
(103) Gordin et al (see reference 7)
(104) Verghese and Ferrar (see reference 99)
A selection of other 2024 HR predictions and trends
There are a plethora of other resources documenting predictions and trends for HR and the future of work in 2024 including:
Gartner - Top 5 HR Trends and Priorities for 2024
Visier Inc. - 10 Workforce trends for 2024: The New Rules of HR
Mercer – 2024 Global Talent Trends
McKinsey - What matters most? Eight CEO priorities for 2024
Ken Oehler – RADICL People Predictions for 2024
Damon Klotz and Didier Elzinga - 7 trends that will define HR in 2024
Dr. Solange Charas and Stela Lupushor - HR and Workforce Trends Predictions for 2024
Dan Schawbel - 10 Predictions for 2024 from a World-of-Work Expert
Joelle Emerson - New Data: 2023 DEI Trends & 2024 Opportunities
Francesca Di Meglio - 8 HR Trends for 2024
LinkedIn News - 34 Big Ideas that will change our world in 2024
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ABOUT THE AUTHOR
David Green ?? is a globally respected author, speaker, conference chair, and executive consultant on people analytics, data-driven HR and the future of work. As Managing Partner and Executive Director at Insight222, he has overall responsibility for the delivery of the Insight222 People Analytics Program, which supports the advancement of people analytics in over 90 global organisations. Prior to co-founding Insight222, David accumulated over 20 years experience in the human resources and people analytics fields, including as Global Director of People Analytics Solutions at IBM. As such, David has extensive experience in helping organisations increase value, impact and focus from the wise and ethical use of people analytics. David also hosts the Digital HR Leaders Podcast and is an instructor for Insight222's myHRfuture Academy. His book, co-authored with Jonathan Ferrar, Excellence in People Analytics: How to use Workforce Data to Create Business Value was published in the summer of 2021.
观点
2023年12月14日
观点
人工智能正在以比我预期更快的速度改变企业学习AI Is Transforming Corporate Learning Even Faster Than I Expected在《AI正在比我预想的更快地改变企业学习AI Is Transforming Corporate Learning Even Faster Than I Expected》这一文中，Josh Bersin强调了AI对企业学习和发展（L&D）领域的革命性影响。L&D市场价值高达3400亿美元，涵盖了从员工入职到操作程序等一系列活动。传统模型正在随着像Galileo™这样的生成性AI技术的发展而演变，这改变了内容的创建、个性化和传递方式。本文探讨了AI在L&D中的主要用例，包括内容生成、个性化学习体验、技能发展，以及用AI驱动的知识工具替代传统培训。举例包括Arist的AI内容创作、Uplimit的个性化AI辅导，以及沃尔玛实施AI进行即时培训。这种转型是深刻的，呈现了一个AI不仅增强而且重新定义L&D策略的未来。
在受人工智能影响的所有领域中，最大的变革也许发生在企业学习中。经过一年的实验，现在很明显人工智能将彻底改变这个领域。
让我们讨论一下 L&D 到底是什么。企业培训无处不在，这就是为什么它是一个价值 3400 亿美元的市场。工作中发生的一切（从入职到填写费用账户再到复杂的操作程序）在某种程度上都需要培训。即使在经济衰退期间，企业在 L&D 上的支出仍稳定在人均 1200-1500 美元。
然而，正如研发专业人士所知，这个问题非常复杂。有数百种培训平台、工具、内容库和方法。我估计 L&D 技术空间的规模超过 140 亿美元，这甚至不包括搜索引擎、知识管理工具以及 Zoom、Teams 和 Webex 等平台等系统。多年来，我们经历了许多演变：电子学习、混合学习、微型学习，以及现在的工作流程中的学习。
生成式人工智能即将永远改变这一切。
考虑一下我们面临的问题。企业培训并不是真正的教学，而是创造一个学习的环境。传统的教学设计以教师为主导，以过程为中心，但在工作中常常表现不佳。人们通过多种方式学习，通常没有老师，他们寻找参考资料，复制别人正在做的事情，并依靠经理、同事和专家的帮助。因此，必须扩展传统的教学设计模型，以帮助人们学习他们需要的东西。
输入生成人工智能，这是一种旨在合成信息的技术。像Galileo™这样的生成式人工智能工具 可以以传统教学设计师无法做到的方式理解、整合、重组和传递来自大型语料库的信息。这种人工智能驱动的学习方法不仅效率更高，而且效果更好，能够在工作流程中进行学习。
早期，在工作流程中学习意味着搜索信息并希望找到相关的东西。这个过程非常耗时，而且常常没有结果。生成式人工智能通过其神经网络的魔力，现在已经准备好解决这些问题，就像 L&D 的瑞士军刀一样。
这是一个简单的例子。我问Galileo™（该公司经过 25 年的研究和案例研究提供支持）：“我该如何应对总是迟到的员工？请给我一个叙述来帮助我？” 它没有带我去参加管理课程或给我看一堆视频，而是简单地回答了问题。这种类型的互动是企业学习的大部分内容。
让我总结一下人工智能在学习与发展中的四个主要用例：
生成内容：人工智能可以大大减少内容创建所涉及的时间和复杂性。例如，移动学习工具Arist拥有AI生成功能Sidekick，可以将综合的操作信息转化为一系列的教学活动。这个过程可能需要几周甚至几个月的时间，现在可以在几天甚至几小时内完成。
我们在Josh Bersin 学院使用 Arist ，我们的新移动课程现在几乎每月都会推出。Sana、Docebo Shape和以用户为中心的学习平台 360 Learning 等其他工具也同样令人兴奋。
个性化学习者体验：人工智能可以帮助根据个人需求定制学习路径，改进根据工作角色分配学习路径的传统模型。人工智能可以理解内容的细节，并使用该信息来个性化学习体验。这种方法比杂乱的学习体验平台（LXP）有效得多，因为LXP通常无法真正理解内容的细节。
Uplimit是一家致力于构建人工智能平台来帮助教授人工智能的初创公司，它正在使用其Cobot和其他工具为学习人工智能的技术专业人员提供个性化的指导和技巧。Cornerstone 的新 AI 结构按技能推荐课程，Sana 平台将 Galileo 等工具与学习连接起来，SuccessFactors 中的新 AI 功能还为用户提供了基于角色和活动的精选学习视图。
识别和发展技能：人工智能可以帮助识别内容中的技能并推断个人的技能。这有助于提供正确的培训并确定其有效性。虽然许多公司正在研究高级技能分类策略，但真正的价值在于可以通过人工智能识别和开发的细粒度、特定领域的技能。
人才情报领域的先驱者Eightfold、Gloat和SeekOut可以推断员工技能并立即推荐学习解决方案。实际上，我们正在使用这项技术来推出我们的人力资源职业导航器，该导航器将于明年初推出。
用知识工具取代培训：人工智能在学习与发展中最具颠覆性的用例也许是完全取代某些类型培训的潜力。人工智能可以创建提供信息和解决问题的智能代理或聊天机器人，从而可能消除对某些类型培训的需求。这种方法不仅效率更高，而且效果更好，因为它可以在个人需要时为他们提供所需的信息。
沃尔玛今天正在实施这一举措，我们的新平台 Galileo 正在帮助万事达卡和劳斯莱斯等公司在无需培训的情况下按需查找人力资源信息和政策信息。LinkedIn Learning 正在向 Gen AI 搜索开放其软技能内容，很快 Microsoft Copilot 将通过 Viva Learning 找到培训。
这里潜力巨大
在我作为分析师的这些年里，我从未见过一种技术具有如此大的潜力。人工智能将彻底改变 L&D 格局，重塑我们的工作方式，以便 L&D 专业人员可以花时间为企业提供咨询。
L&D 专业人员应该做什么？花一些时间来了解这项技术，或者参加Josh Bersin 学院的一些新的人工智能课程以了解更多信息。
随着我们继续推出像伽利略这样的工具，我知道你们每个人都会对未来的机会感到惊讶。L&D 的未来已经到来，而这一切都由人工智能驱动。
观点
2023年12月13日
观点
您需要了解的 19 个最重要的人力资源指标
In the complex, ever-evolving realm of human resources, effective decision-making is anchored in data-specific insights. This underlines the significance of HR metrics, which serve as key navigational beacons in the journey of driving business success. These metrics, or key performance indicators (KPI) – do not mix them with Key Result Areas (KRA), transform abstract aspects of HR management into quantifiable data, which can be measured, analyzed, and optimized. In this review, we will navigate through the 19 most crucial HR metrics, offering HR professionals and business leaders a comprehensive understanding of these powerful analytical tools.
Table of Contents
Key HR Metrics
Number of Employees (FTEs)
Employee Turnover Rate
Voluntary Turnover Rate
Employee Net Promoter Score (eNPS)
Employee Engagement
Employee Satisfaction
Employee Experience
Employee Value
Recruitment Metrics
Time to Hire
Time to Fill
Cost of Hire
Compensation and Benefits Metrics
Salary Range Penetration
Salary Averages
Pay Equity
Pay Gap
Gender Pay Gap
Talent Development Metrics
Employee Growth Rate
Retention Rates
Employee Performance Metrics
Summary
At the helm of these metrics are those concerning workforce management. Metrics such as employee turnover rate, retention rate, and absenteeism rate offer profound insights into the dynamics of the workforce. These HR metrics allow teams to assess workforce stability and employee engagement, and are instrumental in highlighting areas that need remedial action, contributing to enhancing workforce efficiency and fostering a positive organizational culture.
Moreover, the spectrum of HR metrics extends to illuminate performance-based aspects, using data points like productivity rate, performance score, and training effectiveness. These metrics are invaluable in tracking skill enhancement, individual and team performances, and the efficacy of training initiatives. By analyzing these HR metrics, HR Managers can optimize talent management strategies, assisting in the creation of a high-performing, competitive workforce.
Another significant category involves financial aspects including compensation competitiveness ratio and the cost of hiring. By yielding a clear perspective of the financial implications of HR policies, these metrics enable organizations to ensure their reward structures are market-competitive and recruitment processes are cost-effective. Armed with these HR metrics, management can strike an optimal balance between employee satisfaction and the organization’s financial health.
19 Most Important HR Metrics
To encapsulate, the knowledge and understanding of these 19 imperative HR metrics provide a robust framework for strategic decision making in HR management. Each data point, each metric acts like a compass directing towards greater business success. They bravely shine the light on areas of improvement, success, and stagnation. By intelligently utilizing these HR metrics as outlined in the HRM Guide, HR leaders stand poised to significantly augment their human resource initiatives, thereby strengthening the backbone of their organizations.
The relationship between HR Metrics and HR Analytics forms a powerful synergy that fuels informed decision-making. While HR Metrics offer quantifiable indicators of HR policies’ efficiency and effectiveness, HR Analytics dives deeper, harnessing these metrics to glean crucial insights and derive data-driven conclusions. This confluence of metrics and analytics is central to enhancing the overall effectiveness of HR management, ensuring that decisions made are grounded in empirical evidence and tailored to the organization’s evolving needs.
In essence, the symbiosis between HR Metrics and HR Analytics paves the way for continuous improvement and strategic foresight, standing testament to the commitment of HR teams and organizations in nurturing and safeguarding the success of their people.
Key HR Metrics
In the sphere of Human Resource Management, informed decision-making is the cornerstone of effective practice. It is this that underscores the quintessential value of Key HR Metrics. These quantitative indicators reflect the efficiency and effectiveness of HR policies and operations, generating valuable insights that guide business strategy. Harnessing these metrics equips HR practitioners with a robust toolkit to measure, analyze, and optimize various aspects of HR processes.
Navigating this vast array of metrics, a few distinguish themselves for their impact and universality. Among these are the Employee Net Promoter Score (eNPS), Employee Turnover Rate, and several other vital measures. The eNPS, a definitive metric of employee loyalty and job satisfaction, offers a transparent lens into the internal health of an organization. On the other hand, the Employee Turnover Rate stands as an indicator of organizational stability and workforce retention capacity. Thorough exploration and seamless integration of these key metrics play a pivotal role in honing effective HR strategies.
Number of Employees (FTEs)
Nestled within the cascade of HR metrics, the ‘Number of Employees’ or ‘Full-Time Equivalent’ (FTE) stands out as a fundamental measure of an organization’s human capital. This metric tracks the total number of full-time employees within the organization, encapsulating the breadth of the workforce at a glance. Understood across industries, FTE refers to the number of full-time employees that could have been employed if the reported number of hours worked by part-time employees had been worked by full-time employees.
While seemingly straightforward, the value derived from this key metric extends far beyond a cursory headcount. A clear understanding of the Number of Employees (FTEs) serves as a vital foundation for resource planning and analysis. It aids in assessing the organization’s growth and expansion capacity, mapping the trajectory of workforce development, and determining if current staffing levels are aligned with the business goals.
It also provides a clear picture of the scale at which HR policies and procedures operate, reinforcing the significance of understanding this measure within the larger HR Analytics structure. Ultimately, the metric mirrors the size and complexity of an organization’s human resources, guiding critical decisions about recruitment, retention, and resource allocation to align with the organization’s strategic objectives.
Employee Turnover Rate
Among the essential HR Metrics, the Employee Turnover Rate holds significant weight as a measure of workforce stability. This crucial metric gauges the rate at which employees exit an organization within a specified time frame, reflecting the tempo of attrition. An elevated turnover rate may be a symptom of underlying issues with job satisfaction, company culture, or a disconnect between employee expectations and organizational realities. By monitoring and analyzing this metric, HR specialists and business leaders alike can glean crucial insights into the overall health and attractiveness of their workplace.
Understanding the Employee Turnover Rate assists organizations in identifying areas in need of improvement and implementing targeted interventions. A high turnover rate can profoundly impact a company’s bottom line, as the loss of experienced personnel often leads to increased recruitment costs and decreased productivity. Additionally, it may negatively affect the morale of the remaining workforce, as employees witness their peers departing, potentially eroding the organization’s internal cohesion.
Conversely, a low Employee Turnover Rate often speaks to a thriving and nurturing work environment where employees are content and well-supported. It signifies that the organization has been successful in fostering a positive company culture, attractive compensation packages, and opportunities for personal and professional growth. Analyzing this metric in tandem with other HR Metrics, such as Employee Retention Rate and Employee satisfaction, can provide a comprehensive and holistic picture of the employee experience within the organization.
To sum up, the Employee Turnover Rate is an indispensable tool that allows HR professionals to recognize the strengths and weaknesses of their talent management strategies effectively. Pivoting their initiatives and interventions based on this data, organizations are better equipped to create a more stable, engaged, and high-performing workforce. Recognizing the immense value of this metric and taking proactive steps to address unwanted fluctuations is a testament to an organization’s commitment to its people’s success and well-being.
Voluntary Turnover Rate
In the sphere of human resource management, deciphering the dynamics of employee attrition is of paramount importance. Here, an essential metric that provides specific insights is the Voluntary Turnover Rate. Distinct from overall turnover, this metric zeroes in on the number of employees who willingly choose to leave the organization. By analyzing this key performance indicator, HR managers and business leaders gain valuable understanding into the effectiveness of their employee retention strategies and overall workplace health.
Unveiling the reasons behind voluntary departures empowers organizations to address potential lapses in their offerings and policies. Common drivers of voluntary turnover may include a lack of career advancement opportunities, insufficient compensation, or a misalignment of personal values with the organization’s culture. Identifying such factors through the lens of the Voluntary Turnover Rate enables HR teams to proactively design and implement relevant programs, cultivating a more nurturing, engaging work environment.
Moreover, tracking the Voluntary Turnover Rate in combination with other HR metrics, such as Employee Satisfaction and Employee Retention Rate, can provide a comprehensive overview of employee engagement and commitment. By addressing the issues highlighted by these interrelated metrics, organizations ensure that they maintain a content and productive workforce willing to contribute to the company’s long-term vision.
The Voluntary Turnover Rate serves as an eye-opening metric for understanding an organization’s employee retention capabilities. Through skillful analysis and thoughtful response, HR departments and business leaders can utilize this metric to sharpen their talent management strategies, sustain a resilient workforce, and ultimately, fortify their organization’s foundation by fostering a committed and satisfied team of professionals.
Employee Net Promoter Score (eNPS)
In the multifaceted domain of human resources, the Employee Net Promoter Score (eNPS) emerges as a powerful tool to measure employee satisfaction and engagement. This metric gauges the loyalty of employees by posing a simple, yet insightful question: How likely are they to recommend the company as a place to work? Built on the premise of the Net Promoter Score concept used in customer satisfaction, the eNPS distills the essence of employee sentiment into meaningful key data points that reflect their commitment and attachment to the organization.
A profound understanding of the Employee Net Promoter Score offers HR professionals and business leaders not merely a numerical score, but valuable insights into the health and vitality of their organizational culture. By monitoring the fluctuations of this pivotal metric, organizations can identify trends, recognize areas of success, and spot aspects of the work environment that might require redress and reinforcement.
Furthermore, the analysis of the eNPS in conjunction with related HR metrics provides a holistic perspective on the many elements influencing employee satisfaction. For instance, evaluating eNPS alongside Employee Turnover Rate or Employee Retention Rate can illuminate the intricate relationship between overall satisfaction and workforce stability. By harnessing the power of these interrelated data points, HR teams can tailor their strategies and interventions, ultimately fostering a nurturing environment that engenders employee commitment and loyalty.
The Employee Net Promoter Score remains a cornerstone within the portfolio of HR metrics for assessing employee satisfaction and engagement. The wisdom and understanding that arise from the skillful interpretation of eNPS pave the way for optimizing employee experience and cultivating a resilient organization deeply invested in the success of its people. Embracing the opportunity to learn from the eNPS reflects an organization’s commitment to fostering a thriving culture, where employee satisfaction and well-being are at the core of its mission.
Employee Engagement
Employee Engagement is a vital HR metric that gauges the emotional investment and commitment of employees towards their work and the company. This measurement helps gauge the level of enthusiasm, loyalty, and dedication employees have for their roles within the organization. It directly impacts key performance indicators, such as productivity, turnover, and overall organizational performance. Simply put, employee engagement stems from the deeply human need for fulfillment in one’s work and plays a decisive role in the success of an organization.
Delving deeper into Employee Engagement unveils its significance. High engagement levels often translate into a more motivated, resilient workforce that achieves higher productivity levels and fosters a lower turnover rate. Engaged employees are typically more loyal, invest greater effort into their work, and are likely to go the extra mile for the company’s success. Additionally, they form the backbone of a positive workplace culture, contributing to a harmonious, cooperative work environment.
However, measuring Employee Engagement can be challenging, as it encompasses various key data points, including job satisfaction, loyalty, pride in their work, and the quality of relationships with co-workers and supervisors. Various tools like surveys and feedback sessions can gather these data points, which, when analyzed together, can provide a composite picture of the organization’s engagement health.
In essence, Employee Engagement is an invaluable measurement within the HR metrics spectrum. Its findings shed light on the pulse of the organization, highlighting areas that require optimization to enhance job satisfaction, increase loyalty, and improve overall performance. Prioritizing and nurturing Employee Engagement reflects an organization’s commitment to its most critical resource – its people. It is a testament to the organization’s dedicated pursuit of achieving success by building a highly engaged and motivated workforce.
Employee Satisfaction
Within the dimensions of Human Resources Management, the metric of Employee Satisfaction stands as a direct barometer of how content employees are. It comprehensively measures their satisfaction levels with aspects like job roles, the work environment, organizational policies, and workflows. This critical metric transcends the mundane statistics, illuminating the subjective experiences and feelings of employees towards their workplace.
Central to the robustness of the HR Processes, Employee Satisfaction harbors the potential to significantly influence an organization’s success trajectory. A workforce that is satisfied with their roles, feels valued, and finds alignment with organizational policies tends to exhibit higher productivity, lower turnover rates, and greater levels of engagement. It also underscores the positive aspects of an organization’s culture, reinforcing its attractiveness to prospective talent and bolstering its reputation in the job market.
By undertaking regular Employee Satisfaction surveys and making this assessment an integral part of their Human Resources Management, organizations can amass valuable insights. These key data points then serve as a compass to navigate the planning and execution of HR policies, correcting course where needed and thus ensuring an environment that promotes satisfaction.
To conclude, Employee Satisfaction (aka Employee Happiness) is not merely a measure of contentment. It is a testament to the effectiveness of the HR processes and the overall health of an organization. Prioritizing this critical metric helps build a workforce that is not just satisfied, but also engaged, productive, and committed to driving the organization’s success.
Employee Experience
A core metric within the domain of Human Resources Management is the Employee Experience. This term encompasses an employee’s entire journey within an organization, encapsulating every touchpoint from recruitment to exit. It includes their encounters with the organization’s culture, work environment, management philosophy, and HR Operating Rhythm. Essentially, it reflects how an employee perceives their interaction with the organization at large, offering a panoramic view of their professional journey.
The depth and breadth of the Employee Experience shed light on critical aspects of the Human Resources Management strategy. It helps identify potential areas for improvement, and, perhaps more importantly, areas that are working well. This measure is not confined to the individual employee’s direct work-related tasks; it extends to cover the overarching environment, company culture, and sentiment within the organization. A positive experience fosters a feeling of inclusion, boosts engagement, improves job satisfaction, and reinforces a sense of loyalty.
Accurate measurement of the Employee Experience requires a detailed understanding of the organization’s HR Operating Rhythm. It calls for a systematic, disciplined approach to assess each phase of an employee’s journey, from onboarding and integration to growth and eventually, their exit. Regular feedback sessions, pulse surveys, and open communication channels can serve as tools for capturing the nuances of Employee Experience reliably.
The Employee Experience stands as a pillar in the realm of HR metrics. A thorough understanding of this metric empowers Human Resources Management to create a fulfilling, rewarding environment that positively influences every facet of the employees’ professional lives. In prioritizing Employee Experience, an organization reinforces its commitment to its most valuable asset–its people. This is instrumental in building a strong, vibrant, and high-performing workplace where each individual is fully engaged and aligned with the company’s vision and direction.
Employee Value
In the strategic framework of human resource management, Employee Value emerges as a critical metric. This term encapsulates the aggregate contribution an employee brings to an organization, assessed in light of key facets such as productivity, innovation, and teamwork. Effectively, it quantifies the unique worth of each employee within the organization, detailing their individual impacts on overall company performance.
An employee’s value is intrinsically linked to their productivity. Higher employee productivity often directly translates to greater value for the organization. However, this metric extends beyond merely measuring task completion rates or output levels. It also encompasses the innovative capacities of the employee–their potential and demonstrated ability to introduce or improve processes, ideas, or products, thereby contributing to the organization’s evolution and growth.
Further, the concept of Employee Value embraces the power of teamwork, recognizing the synergistic effects of cooperative, harmonious office relationships. The quality of interactions and collaborations, the readiness to assist colleagues, and the ability to effectively function within a team all contribute to an individual’s cumulative value to an organization. Understanding these dimensions through the lens of Employee Value illuminates the factors driving both individual and collective successes.
The Employee Value stands as a comprehensive measure of an employee’s impact on an organization. It encompasses not only the tangible output in terms of employee productivity but also the softer aspects of innovation capacity and teamwork. A nuanced understanding and application of the Employee Value metric play a pivotal role in empowering HR leaders and business leaders alike, enabling them to enhance talent management strategies, foster a productive workplace, and drive their organization toward unparalleled success.
Recruitment Metrics
Recruitment Metrics serve as indispensable tools for HR managers and business leaders striving to optimize their talent acquisition process. These essential performance indicators, including time-to-hire, time-to-fill, and cost-of-hire, enable organizations to assess the efficacy, speed, and cost-effectiveness of their recruitment frameworks. By evaluating these key metrics, decision-makers can ensure that their talent acquisition strategies are aligned with the organization’s broader objectives while providing a seamless experience for both candidates and hiring managers.
Central to the HR metrics ecosystem, Recruitment Metrics hold the key to detecting areas requiring streamlining, improvement, or an outright transformation in the recruitment journey. A comprehensive understanding of these metrics allows an organization to stay competitive in the job market, attract top talent, and fine-tune their recruitment strategies to bolster their workforce. In this context, time-to-hire, time-to-fill, and cost-of-hire metrics emerge as vital signposts guiding organizations toward the best practices for finding, hiring, and retaining exceptional candidates while striving for operational excellence.
Time to Hire
In the panorama of HR metrics, Time to Hire emerges as a key measure of efficiency within the recruitment process. It succinctly outlines the duration from when a job is posted to when a candidate accepts the offered role. A shorter Time to Hire often stands as an indicator of a more streamlined and efficient hiring process, reflecting the effectiveness of the recruitment strategies employed by an organization.
Assessing Time to Hire provides valuable insights into the speed and efficacy of the recruitment function. A brief duration could signal a well-structured and efficient system capable of quickly attracting, evaluating, and securing suitable candidates. It may also imply a positive working relationship with hiring managers, facilitating swift decision-making and expediting the overall recruitment process.
Conversely, a lengthier Time to Hire could indicate possible inefficiencies or bottlenecks that are slowing down the recruitment cycle. These could range from a lengthy decision-making process, difficulties in attracting the right candidates, to perhaps the absence of a robust recruitment platform or system. Understanding and analyzing this metric empowers an organization to undertake necessary revisions or enhancements to the recruitment process.
Time to Hire is an essential recruitment metric, offering quantifiable evidence of the strengths and potential weak links within an organization’s recruitment process. Regular monitoring of this metric enables HR hiring specialists to uphold the efficiency and effectiveness of their recruitment practices, ensuring the organization remains competitive in the dynamic talent acquisition landscape. Having an optimized Time to Hire helps harness the full potential of the recruitment process, ensuring timely talent acquisition that aligns with the strategic growth objectives of the organization.
Time to Fill
At the heart of an organization’s talent acquisition process stands the crucial recruitment metric known as Time to Fill. This metric gauges the amount of time it takes to fill a vacant position, stretching from the moment a job opening is identified to the point when the selected candidate steps into the role. Time to Fill shines light on the efficiency of an organization’s hiring practices, offering valuable insights into potential bottlenecks or areas that may warrant improvement.
A shorter Time to Fill typically reflects a well-orchestrated recruitment process, where vacant positions are rapidly filled, minimizing the adverse impacts of extended vacancies on the organization’s operational efficiency. Conversely, a protracted duration can signal complexities within the talent acquisition process that may require streamlining, or a case of substantial applicant volume making candidate selection challenging. Analyzing Time to Fill enables HR managers and business leaders to reveal and address any inefficiencies, reinforcing smoother, more effective hiring practices.
Developing an understanding of Time to Fill is fundamental in fostering a more efficient talent acquisition process. Through the identification of friction points, organizations can take targeted measures such as optimizing job descriptions, refining selection criteria, or enhancing the interview process. These tailored strategies contribute to a more agile and proficient recruitment system, resulting in a competitive advantage in the quest for top talent.
In summary, the Time to Fill metric serves as a vital indicator of the productivity and effectiveness of an organization’s talent acquisition process. Identifying areas for improvement can bolster overall efficiency, ensuring that businesses are well-positioned to swiftly hire the brilliant minds required to drive the organization to new heights. This metric not only measures the speed of the recruitment process but also signifies the organization’s commitment to selecting the best candidates for the job, thereby contributing to a sustainable, high-performing workforce.
Cost of Hire
In the realm of effective talent management strategies, understanding the Cost of Hire is of paramount importance. This financial metric delves into the costs associated with filling a vacant position, encompassing both direct and indirect expenses incurred during the talent acquisition process. Direct costs include job advertising fees, agency or recruiter fees, and background check costs. Indirect costs may incorporate time spent on candidate sourcing, interviewing, and onboarding across different organizational departments. A comprehensive overview of Cost of Hire offers indispensable insights to HR team members and business leaders, enabling them to evaluate their organizations’ recruitment efficiency and overall competitiveness.
Evaluating the Cost of Hire is crucial in optimizing talent acquisition strategies, which, in turn, can profoundly influence an organization’s long-term success. By monitoring this metric, decision-makers can identify areas where cost savings and process improvements can be realized, minimizing excessive recruitment expenditure without compromising on the quality of hires. A solid grasp of Cost of Hire supports resource allocation and budgeting decisions, ensuring that organizations remain agile and capable of attracting top talent in the increasingly competitive job market.
Efficient Cost of Hire management is vital to the sustenance and growth of an organization. By streamlining the talent acquisition process, HR professionals and business leaders can balance cost control with the pursuit of high-quality candidates, ultimately fostering a strong and vibrant workforce. Continued investment into refining recruitment strategies and processes will contribute to reductions in Cost of Hire while also positioning companies as attractive destinations for top talent.
Assessing and managing the Cost of Hire is integral to the development and optimization of a company’s talent acquisition process. By examining these costs and identifying areas of potential improvement, organizations can refine their recruitment strategies, strike a balance between cost-efficiency, and quality hires, and solidify their foundation for enduring success. As a critical component of the recruitment metrics toolkit, the Cost of Hire serves as a key investment in the prosperity and future of the organization and its employees.
Compensation and Benefits Metrics
Amplifying the potency of an organization’s human resources strategy necessitates a comprehensive understanding of Compensation and Benefits Metrics. These crucial benchmarks, encapsulating aspects like pay gaps, salary averages, and more, guide HR managers and business leaders in making informed decisions about their organizations’ compensation structures. With these metrics at their disposal, professionals are better equipped to foster a fair, competitive, and enticing workplace, uplifting both employee satisfaction and organizational performance.
Beyond merely representing numbers, Compensation and Benefits Metrics carry significant implications for talent acquisition, retention, and overall employee engagement. Drawing a clear picture of current compensation structures and comparing them to market standards can yield deep insights and illuminate areas for potential improvement. By closing pay gaps, aligning salary averages with industry standards, and delivering competitive benefits packages, organizations can showcase a palpable commitment to their employees’ welfare, ultimately underpinning a rock-solid foundation for sustainable success.
Salary Range Penetration
At the nexus of effective compensation management is the critical metric known as Salary Range Penetration. This evaluates how closely an employee’s salary matches the market or industry standards, ensuring businesses offer a competitive compensation package. Here, the Total Cost of compensation incorporates the entire salary spectrum—from minimum to maximum—considering various job roles and levels within an organization.
The central role of Salary Range Penetration is to measure the employee’s pay position within the organization’s established salary range. This can help determine if the compensation offered aligns with industry benchmarks and remains attractive to both the current workforce and potential hires. By understanding where an employee’s salary stands in relation to these ranges, HR managers and business leaders can make informed decisions about pay increases, promotions, or adjustments needed to remain competitive.
An efficient Salary Range Penetration system is vital for HR Compensation and Benefits managers in maintaining equity and transparency in compensation practices. Regular reviews and adjustments inspired by this metric can ensure the workforce feels valued, subsequently fostering higher levels of job satisfaction and commitment. By being mindful of this metric, organizations can shape an equitable pay structure that securely aligns the interest of employees and the strategic objectives of the company.
Salary Range Penetration offers in-depth insights that fuel fair and competitive pay structures within organizations. By constantly monitoring and adjusting this measure, organizations can ensure their compensation strategies align with market standards, positively impacting employee satisfaction, and, ultimately, retention. Recognizing and acting upon the nuances of this metric is an investment in your people’s contentment and your organization’s long-term success.
Salary Averages
In the realm of fair and competitive compensation practices, understanding the concept of Salary Averages stands central. Salary Averages refer to the mean salary within an organization or a specific role. It essentially entails a comprehensive evaluation of the sum of all salaries divided by the total number of employees. This metric enables HR professionals and managers to maintain a balance in their internal pay structure while also considering relevant external costs.
The value of Salary Averages is reflected in its ability to influence both internal and external costs tied to employee compensation. Internally, it aids in maintaining equity within the organization, ensuring a balanced distribution of compensation centered around fair market value. Externally, comprehending this metric efficiently allows companies to remain competitive in the market by offering attractive compensation packages that can attract and retain talent.
Calculating and monitoring Salary Averages affords organizations a clearer lens through which to view potential disparities or imbalances in their pay structure. By identifying these gaps, companies can take corrective measures to ensure equitable pay among employees, fostering an environment of transparency and fairness. This conscious and conscientious practice not only strengthens employee relations but also encourages a more dedicated and motivated workforce.
Salary Averages serve as a critical component of a balanced and competitive compensation practice. The insights derived from it throw light on both internal and external costs associated with employee compensation. This, in turn, equips organizations with the knowledge needed to ensure a fair, transparent, and competitive remuneration system—an instrumental cornerstone to fostering a satisfied and high-performing workforce.
Pay Equity
Centered at the heart of a constructive, diverse, and inclusive workforce is the core HR metric known as Pay Equity. It ensures that all employees receive fair compensation for their work and contributions, regardless of their gender or other demographic factors. The primary purpose of this metric is to foster a culture of equality, aligning with the principles of diversity and inclusion.
Pay Equity helps eliminate unjustifiable disparities in the workforce relating to compensation. It is a reflection of an organization’s commitment towards upholding fairness by assessing and adjusting pay scales based solely on factors such as role, experience, and performance. With Pay Equity, HR leaders and business leaders commit to a critical investment in ensuring that their compensation practices do not discriminate but, instead, respect diversity and promote inclusion.
Practicing Pay Equity necessitates regular monitoring and adjustments of pay strategies. It may involve conducting equity audits, examining pay practices, and implementing relevant policies that ensure fair compensation. The process extends beyond just remuneration and reflects the organization’s values, translating to higher employee satisfaction, improved employer branding, and fostering a culture that truly values diversity and inclusion.
Pay Equity is not merely a metric; it’s an organizational commitment towards fostering a workplace culture that upholds the principles of equality, diversity, and inclusion. By driving pay practices that ensure equitable compensation, businesses can strengthen their employer brand, enhance employee loyalty, and build a robust foundation of trust and mutual respect. Pay Equity, thus, is less a choice and more a responsibility that organizations must shoulder in their quest for sustainable success.
Pay Gap
In the landscape of fair and equitable compensation practices, addressing the issue of the Pay Gap is a non-negotiable priority. Broadly speaking, this term refers to variations in pay across not only genders but also across different demographic, racial, and cultural groups. Comprehensive understanding of the concept of Pay Gap ensures that organizations adopt a sincerely fair approach to employees, emphasizing the principle of internal equity in compensation models.
The Pay Gap is not merely about discerning salary discrepancies; it provides important insights into deeper systemic issues that might exist within an organization. Adjusting for these gaps is crucial for fostering a sense of fairness among employees and maintaining internal equity. This involves understanding these differences, identifying their origins, and devising systematic interventions to ensure equitable pay across all levels and roles.
Efficient management of the Pay Gap necessitates close collaboration with HR managers and business leaders. This involves scrutinizing internal salary data, benchmarking against external markets, and rolling out policies that uphold equitable compensation. The commitment to narrowing and eventually eliminating the Pay Gap is a testament to an organization’s dedication to a fair approach to employees.
Addressing the Pay Gap is a critical step towards establishing fairness and equality in compensation across all layers of an organization. Tackling this problem fosters a sense of internal equity, resulting in improved employee morale and productivity. As directly linked to a fair approach to employees, successful management of the Pay Gap is a substantial boon to the overall organizational health and reputation.
Gender Pay Gap
In the spectrum of fair compensation, addressing the Gender Pay Gap is of paramount importance. This metric underlines the salary disparity between male and female employees performing the same work. The alignment of the Gender Pay Gap to equitable pay scales is key in promoting workplace equality and maintaining internal equity.
Firstly, let’s understand what the Gender Pay Gap is. It’s the differential between the average earnings of male and female employees, considering they are in identical roles with similar experience and performance. A noteworthy point is that a “gap” indicates a disparity, not justified by professional factors, signaling that there are elements beyond work performance influencing compensation. Such inequalities can undermine the spirit of fairness, negatively impacting the work environment and an organization’s ethical stature.
The inevitability of addressing the Gender Pay Gap signals a commitment towards valuing a fair and balanced compensation strategy. By recognizing and actively responding to these discrepancies, organizations cement their commitment to internal equity. Revisiting pay structures, conducting thorough equity audits, and cultivating an environment of open dialogue about compensation are measures that can help in overcoming these challenges.
Analyzing and working to lessen the Gender Pay Gap is more than an HR metric; it is a significant stride towards forging an equitable, inclusive workplace. The conscious examination and rectification of these disparities serve as a testament to an organization’s investment in their people, contributing to enhanced organizational morale and overall productivity. Prioritizing a sphere of pay equality is a critical contributor to achieving internal equity in the workplace.
Talent Development Metrics
In the evolving landscape of Human Resources, the collection, analysis, and interpretation of HR Metrics form a cornerstone for success. One subset of these vital metrics, particularly significant for both the HR Professional and the holistic growth of an organization, is the realm of Talent Development Metrics. These work to quantitatively measure the efficiency and impact of the organization’s talent development and training programs, fueling strategic decision-making and enhancing overall operational efficiency.
Talent Development Metrics offer insight into the effectiveness of the company’s employee development strategies. These metrics range from gauging the reach, relevance, and responsiveness of training programs to measuring resultant employee performance and retention levels. While effectively broadening the scope of traditional employee metrics, these data points serve as a critical tool in assessing employee skill growth, job satisfaction, and, ultimately, boosting business productivity.
Employee Growth Rate
The Employee Growth Rate is a critical HR metric that helps assess this capability. By monitoring the development and promotion rate of employees within an organization, this metric highlights the effectiveness of training and development programs while signaling a truly forward-thinking learning organization.
An organization’s deliberate focus on Employee Growth Rate is the embodiment of its commitment to competency-based learning. By tracking advancements, skill enhancements, and career progressions, this metric stresses the importance of investing in people. At the same time, it also serves as a valuable input for decision-makers looking to improve existing development programs, create new opportunities for growth, and better align workforce skills with strategic business goals.
Employee Growth Rate, when viewed as a part of the bigger picture, is transformative. It elevates human capital, enhances employee engagement, and promotes exceptional performance. As a direct result, this results in increased levels of job satisfaction and employee retention. When it comes to a business performance perspective, an environment that nurtures talent and encourages growth leads to a more agile, effective, and adaptive workforce, enabling an organization to thrive in an ever-changing market.
The Employee Growth Rate serves as an insightful measure of an organization’s dedication to cultivating a learning organization. Paying close attention to this metric and taking data-driven, empathetic actions reflects an organization’s commitment to its people, ultimately ensuring that it stays on a path of continuous growth. Embracing the Employee Growth Rate is a testament to an organization’s focus on competency-based learning, its appreciation for individual aspirations, and its unwavering pursuit of sustained business performance.
Retention Rates
In a world where employees are the linchpin of business success, Retention Rates serve as a crucial HR metric. This metric quantifies how well a company retains its employees over a period, effectively revealing insights into job satisfaction levels and the overall company culture. Keeping a keen eye on Retention Rates is central to the sustained effectiveness of a learning organization.
Retention Rates are more than just numbers. They are indicative of an organization’s ability to maintain a competent, motivated workforce. High retention rates usually point towards positive job satisfaction and a supportive company culture. On the contrary, low retention rates may signal potential challenges that need to be addressed. These could include aspects related to competency-based learning, compensation, employee engagement, or opportunities for growth and development.
Studying Retention Rates enables HR professionals and business leaders to identify areas of improvement within the organization. These insights guide decision-making processes around recruitment, onboarding, training, rewards, and recognition systems. An organization that thrives on high retention rates is likely to have a team of committed employees on board, willing to contribute to improved business performance. Such an organization tends to exude a positive ambiance, advantageous for its reputation as an employer, and its customer relationships.
In a nutshell, Retention Rates are a vital health check of an organization. They portray how effectively an organization cultivates a climate of employee satisfaction and continuous growth, in line with principles of a learning organization. By focusing on Retention Rates, businesses can significantly influence competency-based learning, drive enhanced employee job satisfaction, and sculpt an empowering company culture, all of which are essentials for elevated business performance.
Employee Performance Metrics
At the heart of a successful business are its employees and their performance. Employee Performance Metrics offer a systematic lens to evaluate individual productivity and effectiveness. By providing a measure of an employee’s contributions and accomplishments, these metrics serve as an essential tool to comprehend and enhance workforce capabilities, a critical aspect of any learning organization.
The scope of Employee Performance Metrics is broad and multifaceted, capturing a spectrum of data points such as quality and quantity of work, adherence to deadlines, job knowledge, and innovation. By providing clear and accurate information of individual employee contributions, these metrics aid HR professionals and business leaders in decision-making processes. They shed light on areas for improvement, identify potentials for promotion, and inform strategies for competency-based learning initiatives.
The power of these metrics extends beyond individual employees and has the capacity to transform the entire organization. A workforce that is regularly assessed and guided using performance metrics is more likely to be engaged, motivated, and productive. This engagement and productivity directly impact the operational efficiency of the organization, contributing to enhanced business performance.
Employee Performance Metrics provide valuable insights into an organization’s most valuable asset, its people. By focusing on these metrics, organizations can create a proactive workforce, inspire continued learning, and drive performance growth, making them an indispensable feature of a well-functioning learning organization. They are the lynchpin that ties individual performance to competency-based learning and business performance, creating a synergetic environment that benefits employees and organizations alike.
Summary
Summary
For HR leaders and organizational leaders, understanding a variety of key HR metrics is nothing short of essential. By successfully interpreting and actioning the insights from these 19 HR metrics, decision-makers equip themselves with the knowledge to effectively manage and enhance multiple areas of their human resource initiatives. These metrics not only help in shaping a productive and content workforce but also contribute tangibly to an organization’s future success.
Diving deep into employee satisfaction, organizations must adopt a systematic approach to gauge the happiness and well-being of their workforce. By accurately capturing the significance of various factors that influence satisfaction, HR metrics enable organizational leaders to make informed decisions, fostering an uplifting workplace atmosphere where employees feel acknowledged, motivated, and valued.
Retention rates, on the other hand, hold a mirror to the overall company culture, illuminating aspects that may need improvement, or areas that are flourishing. Consequently, these metrics facilitate effective action plans that drive harmonious cultures and stable employee longevity. The connection between a satisfied employee base and an efficient workforce highlights the core importance of retaining human capital for success in any business.
In conclusion, comprehending and leveraging these key HR metrics is an indispensable requirement for building a robust and thriving organization that stands the test of time. HR teams, armed with these insights, play a crucial role in weaving together a genuinely outstanding company tapestry. By nurturing employees through informed, empathetic decisions, organizations can strengthen the foundations of their workforce, ensuring long-lasting success sustained by satisfied, productive, and fulfilled employees.
2024年必关注的50位人力资源影响者 Top 50 HR Influencers to Follow in 2024-BY Peoplebox在不断发展变化的人力资源领域，对于全球的HR专业人士来说，紧跟最新趋势和洞见至关重要。NACSHR很高兴与大家分享Peoplebox的年度文章——《2024年必关注的50位人力资源影响者》。这篇文章由Shaini Ekka撰写，突出了人力资源界的引领者。这些影响者正在用创新的想法和实践重新定义人力资源管理，这些想法和实践正在全球范围内塑造着未来的工作场所。让我们一起探索这些行业领袖的思想和方法论，他们在2024年产生了重大影响。
原文来自：https://www.peoplebox.ai/blog/top-50-hr-influencers-2024/
Top 50 HR Influencers to Follow in 2024
Step into the world of HR Influencers! Our blog introduces you to the leaders shaping the future of Human Resources. Discover the game-changers, their ideas, and the fresh perspectives shaping HR this year. Let’s explore together the top 50 minds redefining how we see and do HR in 2024.
1. Josh Bersin
Josh Bersin, currently affiliated with Bersin by Deloitte, serves as a prominent keynote speaker, advisor, educator, and mentor to global HR and business leaders. His mission is to enhance work-life worldwide, and he achieves this by guiding HR professionals and organizations in various domains of corporate HR, including talent management, recruitment, training and development, and workplace automation. With his extensive expertise, Josh is dedicated to empowering HR professionals and companies to create more fulfilling and efficient work environments.
Linkedin | Twitter
2. Dave Ulrich
Dave Ulrich is a distinguished name in the field of Human Resources and leadership. Renowned as a thought leader and influential speaker, he has made significant contributions to the field of HR, particularly in HR competencies and HR transformation.
With a strong background in academia, Dave has been a professor at the University of Michigan’s Ross School of Business and has authored numerous books and articles on HR and leadership.
His work is instrumental in shaping the modern HR landscape, emphasizing the strategic role of HR in organizations and how HR can contribute to business success. Dave Ulrich’s insights and research have had a profound impact on HR professionals, making him a respected authority in the industry.
Linkedin | Twitter
3. Meghan Biro
Meghan is the founder and CEO of TalentCulture. She has experience working with hundreds of companies, including early start-ups to well-known brands such as Microsoft, IBM, and Google, to help recruit and empower excellent talent. Apart from this, Meghan has been a guest on numerous radio shows and online forums and has been a featured speaker at global conferences. She is also a regular contributor at Forbes, Huffington Post, and several other media outlets and has been nominated as one of the top 100 Social Media Power Influencers. Meghan is the high-tech recruiter who constantly writes about HR tech and Talent Management topics on Forbes.com. Her professional background has expanded in recruiting, tech, marketing, branding, and digital media.
Linkedin | Twitter
4. David Green
David is an Executive Director at Insight222 & myHRfuture.com, serving the companies with Fortune100 firms. He is a people analytics leader, writer, speaker, conference chair, and data-driven HR.
Before launching his own business Zandel, which provides speaking, advisory, and consulting services on people analytics, data-driven HR, and the future of work, David was the Global Director of People Analytics Solutions at IBM Watson Talent. David has extensive experience helping organizations embark upon and accelerate their People Analytics journeys.
He was the Main Stage MC at UNLEASH World in Amsterdam in 2018 – Europe’s largest and most popular show on the Future of Work and Workplace Technology.
David is one of the HR influencers and a co-author of the book “Excellence in People Analytics”, which gives a unique perspective on People Analytics to provide HR practitioners with everything they require to know as to how to immerse the accurate infrastructure and technologies for data collection to build a culture of analytics in the HR team.
Linkedin | Twitter
5. Liz Ryan
Liz is the creator and leader of Human Workplace, a company that offers coaching, content, and consulting services. She’s a featured speaker and the author of several books, including “REINVENTION ROADMAP : Break the Rules to Get the Job You Want and Career You Deserve.”
Liz discusses and presents on the modern workplace, provides expert opinions on employment-related issues, and guides CEOs and business owners on matters related to workforce strategy and HR. In her own words, Liz is on a mission to transform and improve work experiences for individuals.
Linkedin | Twitter
6. Steve Boese
Steve serves as a Co-Chair of the HR Technology conference in collaboration with H3 HR Advisors. He is a tech editor and writer for Human Resource Executive Magazine, and he co-hosts the HR Happy Hour podcast with Trish.
His extensive expertise in Human Capital Management technologies comes from his past roles in product development and as a corporate HR leader, where he managed internal HR tech systems.
Linkedin | Twitter
7. Tim Sackett
With two decades of experience in the Talent Acquisition Industry, Tim has served as an Executive HR professional. His extensive career includes roles within Fortune 500 companies spanning diverse sectors such as healthcare, retail, dining, and technology. Notably, he holds the position of President at HRU Technical Resources.
Tim’s leadership extends beyond his corporate roles. He also serves as the President of the Association of Talent Acquisition Professionals (ATAP), showcasing his commitment to advancing the field. Furthermore, he is a prolific author, best known for the widely acclaimed book “The Talent Fix: A Leader’s Guide to Recruiting Great Talent.”
Recognized for his profound influence in the HR domain, Tim earned a place among the Top 10 Global HR Influencers by Workforce Magazine in 2018.
Linkedin | Twitter
8. Johnny C. Taylor Jr
Johnny C. Taylor Jr. is a distinguished figure in the world of Human Resources and employment advocacy. As the President and CEO of the Society for Human Resource Management (SHRM), he plays a pivotal role in shaping HR practices and policies in the United States and beyond. With a career marked by leadership in the HR field, he is a recognized authority on workforce issues, labor trends, and employment law.
Under his leadership, SHRM has made significant strides in advancing HR practices, championing diversity and inclusion, and advocating for workplace policies that support both employees and organizations. He is not only a prominent advocate for HR professionals but also a vocal proponent of fostering work environments that are fair, inclusive, and responsive to the needs of the modern workforce.
His extensive experience and passion for shaping the world of work make him a notable influencer and a leading voice in the ever-evolving landscape of human resources. Through his leadership and advocacy, he continues to leave a lasting impact on the HR profession and the broader realm of employment practices.
Linkedin | Twitter
9. Greg Savage
Greg is a mentor for business growth, a speaker, and the founder of two recruitment firms, each valued at $100 million. He also serves on 16 recruitment boards. He authored “The Savage Truth,” a popular book about recruitment that shares his wisdom on leadership, business, and life from his extensive four-decade career. Greg earned the title of the most influential recruiter in Australia in the past six decades and was recognized as the most influential Australian business figure on Twitter. Follow him to explore his valuable insights, guidance, and mentoring on building highly profitable recruitment companies with a global reach across various industries.
Twitter
10. William Tincup
William Tincup, President of RecruitingDaily, is a well-known figure in the HR industry. He’s recognized for his straightforward and no-nonsense approach to human resources. Tincup wears many hats—he’s a writer, speaker, consultant, and advisor. When it comes to topics like recruiting, leadership, talent management, and the future of work, he’s known for his candid and brutally honest opinions. He is actively involved in the HR technology startup scene, serving on the Board of Advisors or Directors for 15 such companies. He’s been sharing his insights on HR-related issues for over a decade, making him a respected and influential voice in the field.
Linkedin | Twitter
11. Steve Browne
With over three decades of experience as an accomplished speaker, writer, and thought leader in Human Resource Management, Steve Browne is committed to uniting the global HR community and facilitating its collective learning and growth. Throughout his career, Browne has successfully navigated HR roles across diverse industries, including manufacturing, consumer products, professional services, and the restaurant sector. His extensive background and expertise make him a valuable contributor to the field of HR and an influential voice in the industry.
Linkedin | Twitter
12. Laurie Ruettimann
As a Writer, Speaker, and Podcaster at Punk Rock HR, Ruettimann provides her LinkedIn and Twitter followers with a daily glimpse into the challenges, triumphs, and moments of enlightenment that accompany the journey of guiding organizations, HR teams, and individuals in confronting and embracing their failures more effectively. With 14 years of experience as an HR professional, Ruettimann transitioned into a highly sought-after consultant, speaker, and writer.
Linkedin
13. Jeanne Meister
Jeanne is a workplace advocate known for co-authoring the widely-read book “The Future Workplace Experience: 10 Rules For Mastering Disruption in Recruiting and Engaging Employees.” With her corporate learning background, she’s a top HR influencer. Jeanne initiated the Future Workplace Network to encourage discussions between CEOs and leaders, aiming to raise awareness about the future of work. An accomplished speaker and writer, she has contributed to respected publications like Forbes, the Financial Times, and Harvard Business Review.
Linkedin | Twitter
14. Mary Jantsch
Mary Jantsch used to lead Talent & Partner Success at Elpha, a startup that supports women in technology careers. Her work at Elpha focused on connecting companies with strategies to attract, hire, and retain more women in the workforce. Today, Mary operates as an independent People Ops Consultant, Pay Transparency Advisor, and writer. She is a firm believer in prioritizing culture, people, and processes right from the beginning of an organization’s journey. You can follow her social channels for honest insights and practical guidance on all things related to HR and People Ops.
Linkedin | Twitter
15. Mark Stelzner
Mark is a well-respected figure in the field of HR, bringing over 25 years of experience in HR change. He describes himself as someone who has built strong relationships through careful attention to detail, a natural sense of curiosity, and a good-natured sense of humor.
For the past 17 years, Mark has served as the managing principal of IA, a consulting firm that focuses on senior executives and HR management
Linkedin | Twitter
16. Madison Butler
Madison Butler offers a fresh perspective in the field of HR and people operations. As the Chief People Officer at GRAV, a Texas-based smoking supplies retailer, she urges HR and people ops professionals to challenge the norm and tackle important issues like race and gender. Her passion lies in nurturing company culture, fostering talent development, retaining employees, and promoting inclusive workplaces. She hosts the “Bye Bye Binary” podcast and runs a career hub for the queer community.
Linkedin
17. Lily Zheng
Lily Zheng is a consultant, speaker, and author who helps organizations move beyond one-time diversity, equity, and inclusion (DEI) training. On LinkedIn, she initiates conversations on crucial workplace topics, offers valuable resources, and encourages a fresh perspective on DEI in the workplace. Their work as a DEI advocate has gained recognition in reputable publications like Forbes, CNBC, The New York Times, and Entrepreneur.
She is also the author of “Gender Ambiguity in the Workplace: Transgender and Gender-Diverse Discrimination” and their recently published book “DEI Deconstructed: Your Practical Guide to Effective DEI Work.”
Linkedin
18. Lars Schmidt
He’s the author of the bestseller “Redefining HR: Transforming People Teams to Drive Business Performance” and frequently contributes to Fast Company. With over 20 years of experience, he’s the founder of Amplify, which assists companies and HR leaders in navigating the evolving work environment through courses, podcasts, books, and more. Notably, Lars has been recognized as a top influencer by HR Examiner, HuffPost, and LinkedIn.
Linkedin | Twitter
19. Katie Burke
Katie Burke has served as HubSpot’s Chief People Officer since 2017. She has a strong passion for diversity, inclusion, and culture, as well as a love for Beyoncé. She firmly believes in blending culture, innovation, leadership, and inclusiveness to create an outstanding workplace experience. Under her guidance, HubSpot gained recognition for its unique workplace culture. Katie initiated the company’s diversity and inclusion efforts, which include annually sharing diversity data and implementing programs to enhance diversity in leadership.
Linkedin | Twitter
20. Laszlo Bock
Formerly a refugee who escaped from Communist Romania, Bock’s journey to becoming a high-ranking executive at tech giant Google is a captivating one. His experiences and insights are always worth paying attention to. During his time as the former Senior Vice President of People at Google, he played a pivotal role in helping the company secure numerous accolades, including the title of ‘Best Company to Work For’ on more than 30 occasions, and over 100 awards as a leading employer. Bock’s pioneering initiatives have set industry standards, making him a role model for organizations worldwide.
Linkedin | Twitter
21. Kris Dunn
Kris Dunn is the Chief Human Resources Officer (CHRO) at Kinetix and a well-loved blogger known for HR Capitalist and Fistful of Talent. With extensive experience in leading HR for both large corporations and startups, Kris emphasizes the importance of hiring top talent and then creating an environment that maximizes their motivation, performance, and effectiveness. He is also a sought-after speaker and influencer who can be found on LinkedIn and Twitter, where he shares the latest insights from the HR and business world, including his own thoughts, and provides valuable tips on upcoming online events.
Linkedin | Twitter
22. Sharlyn Lauby
Sharlyn is part of the board at The Workforce Institute, where they research and educate about important workplace issues worldwide. She’s also a writer, speaker, trainer, and consultant in HR management. Sharlyn has written books about hiring, running effective meetings, building strong leaders, and boosting employee engagement. She shares HR and other insights on her blog, HR Bartender, which was recognized as one of the top 5 HR blogs by the Society for Human Resource Management (SHRM).
Linkedin | Twitter
23. Suzanne Lucas
She’s a former HR expert who turned into a busy freelance writer and speaker. In her own words, she offers career guidance with a touch of humor to businesses, HR professionals, employees, and job seekers. Through her expert articles, blog posts, and valuable contributions to various well-known platforms, she has assisted countless individuals in advancing their careers and becoming more effective managers.
Linkedin | Twitter
24. Ben Eubanks
He’s an HR analyst, author, and podcaster, and he currently holds the role of Chief Research Officer at Lighthouse Research & Advisory, a company that specializes in human capital management analysis. With a broad range of experience in areas like recruiting, benefits, training, employee relations, and executive coaching, Ben has worked in different company settings, including non-profits and small organizations. Notably, he co-founded the industry event HRevolution, manages a blog and podcast, and is involved in HR certification development through his program HR Summer School.
Linkedin | Twitter
25. Trish McFarlane
She is the host of famous podcast HR Happy Hour. Apart from the podcast, Trish also shares her thoughts on topics like analytics, human capital management, talent, and recruiting on her Twitter. She’s the author of the HR Ringleader blog and holds the role of VP of HR Practice/ Principal Analyst at the Brandon Hall Group. With over 15 years of experience in various fields, including Big 4 public accounting, PR, healthcare, and IT, Trish brings a wealth of knowledge to leadership, performance management, training & development, change management, social media, and innovation. She engages her audience with real-life examples of how leadership shapes organizations. She is indeed a very known HR influencer in the business world.
Linkedin | Twitter
26. Jon Ingham
Jon Ingham is widely recognized as a leader in innovation, technology, and talent management in the human resources and business fields. He’s an accomplished writer, blogger, and contributor in the digital HR realm, sharing valuable tips, ideas, and advice on effective employee lifecycle management making him a notable influencer. With a wealth of expertise, Jon is a go-to source for insights and guidance in the HR and business space.
Linkedin | Twitter
27. Kathryn Minshew
Kathryn is the creator and leader of The Muse, an online platform for careers. She spends her time shaping the future of work, caring deeply about career growth, and helping businesses find and keep the best people. She also values building strong company cultures for long-lasting organizations. If you check out her social media profiles, you’ll see her discussing workplace topics and culture. Give her a follow for more insights!
Linkedin | Twitter
28. Kathleen Hogan
Kathleen Hogan holds the position of Chief People Officer and Executive Vice President of Human Resources at Microsoft. She began her journey with the company in 2003 as the Chief Operating Officer of Worldwide Sales, later taking on the role of Corporate Vice President of Worldwide Services in 2009, and assuming her current role as Chief People Officer in 2015. Kathleen’s primary goal is to empower Microsoft’s 217,000+ global employees to achieve their objectives within a culture that attracts and motivates exceptionally passionate talent.
Linkedin
29. Joey V. Price
Joey V. Price is the CEO of Jumpstart:HR, a company that helps startups and small businesses with HR outsourcing and consulting. He hosts two podcasts, “Business, Life, and Coffee” and “While We Were Working,” the latter being aimed at HR and people leaders, discussing current HR topics. With extensive HR experience, Joey emphasizes the importance of achieving high returns on investment by ensuring a content and engaged workforce. He also served as an adjunct professor at Stony Brook University in New York.
Linkedin | Twitter
30. Jodi-Ann Burey
Jodi-Ann Burey is a popular speaker, influencer and writer who shares insights on being true to yourself, the complexity of identity, and reshaping workplace environments with her 38,000+ LinkedIn followers. Her TEDx Talk, “The Myth of Bringing Your Full, Authentic Self to Work,” has reached 1.4 million viewers and encouraged both employers and employees to reconsider their approach to creating a welcoming workplace. Jodi-Ann’s contributions have been featured on well-known platforms like The Muse and HBR, and she has been a guest on Brené Brown’s podcast, “Dare To Lead.” Beyond her professional discussions, Jodi-Ann also addresses her journey with cancer on her podcast, “Black Cancer.”
Linkedin | Twitter
31. Ester Martinez
Ester Martinez serves as CEO & Editor-in-Chief at People Matters, guiding a thriving community for CHROs and business leaders. Together, they drive progress in talent and work practices, shaping sustainable business impact. She is an influencer and contributes valuable insights to the industry. She is also an active member of various HR and Business forums in India and internationally.
Linkedin | Twitter
32. Jennifer Kim
Jennifer Kim is an advisor for startups, a coach for leadership, and a strategist for diversity and inclusion. She is highly regarded for her work in helping startups embrace people operations as a crucial aspect of their business. Jennifer also manages the “Inclusion At Work” resource on Twitter and offers a course focused on talent acquisition in the startup ecosystem. Jennifer Kim is recognized as a “dot connector” who helps startups grow and thrive by fostering a diverse and inclusive work environment.
Twitter
33. Jacob Morgan
Jacob Morgan, a well-known speaker and writer, is the creator of Future of Work University. He specializes in leadership, employee experiences, and the future of work. Jacob is engaged in sharing his thoughts, offering advice, and penning best-sellers. Being a influencer, he shares valuable information and handpicked content on various social media platforms.
Linkedin | Twitter
34. Jackye Clayton
Jackye holds the role of VP for Talent Acquisition and DEI (Diversity, Equity & Inclusion) at Textio. She is a strong supporter of DEI and has extensive experience in diverse industries. Jackye excels in discovering exceptional talent and championing her team. Additionally, she hosts the show “But First Coffee”.
Linkedin | Twitter
35. David Hanrahan
David Hanrahan, Eventbrite’s Chief Human Resources Officer, has spent over twenty years as an HR leader in various companies, including Zendesk, Twitter, Shell, and Electronic Arts. His diverse skill set encompasses managing substantial hiring in high-growth environments, crafting job frameworks, executing effective reward strategies, analyzing and improving employee engagement.
Linkedin
36. Claude Silver
Claude Silver is famous for her role as the Chief Heart Officer at VaynerMedia, a digital advertising agency. In this special job, she’s known for her dedication to creating a work environment that’s all about people and empathy. She highlights the value of emotional smarts and personal connections at work. Her efforts have earned her a strong reputation in HR and leadership. She keeps pushing for kinder and more heart-centered ways of managing and leading.
Linkedin | Twitter
37. Adam Karpiak
Adam Karpiak dedicated eight years to progressing from a recruiter to the Vice President of Recruiting. Afterward, he established his own company, which functions as a comprehensive recruiting agency. Additionally, Adam guides job seekers in distinguishing themselves during their job hunt and making informed decisions about their ideal work settings.
Linkedin | Twitter
38. Jessica Miller-Merrell
Jessica Miller-Merrell founded Workology and hosts its podcast. She’s known for her work on Generation Z’s influence in the workplace, as well as her discussions on upcoming HR technologies and promoting diversity, equity, and inclusion. Jessica is recognized as a Forbes Top 50 Social Media Power User and is a driving force for change in the workplace, with a strong emphasis on human resources and talent acquisition.
Linkedin | Twitter
39. Jim Stroud
Jim Stroud is a writer, blogger, and public speaker. His primary focus revolves around human resources, recruitment, and job search strategies. Hailing from Atlanta, Georgia, Jim has received recognition for his work, such as being featured in Monster.com‘s “Top Ten Employment Bloggers to Follow on Twitter” and securing the seventh spot on the “Top 25 HR Digital Influencers” list. Additionally, he’s the author of the book “The Number One Job Hunting Book in the World!” published in 2015.
Linkedin | Twitter
40. Lou Adler
Lou Adler is often referred to as the first headhunter. Through his company, The Adler Group, he has provided training to over 40,000 recruiters and hiring managers. He’s also an accomplished author, with some of his books ranking as bestsellers on Amazon. On his Twitter account, he shares valuable insights on making smarter hiring decisions and offers guidance for HR professionals looking to enhance their recruitment techniques.
Linkedin | Twitter
41. Marc Coleman
Marc is the creator and top boss at UNLEASH.ai, which is like a big online market for HR stuff. His goal is to get HR, learning, and hiring leaders from around the world excited about the future of work and new HR tech. He really loves bringing people together to think up and make the future of work happen. For years, he’s built strong HR brands and helped make trustworthy HR groups all over the world.
Linkedin | Twitter
42. Cynthia Trivella
Cynthia serves as the lead partner at TalentCulture, a thriving community of professionals keen on all aspects of the work world, where technology has a significant impact. With over two decades of experience, Cynthia is one of the most well-liked experts and trendsetters in HR technology. Her knowledge spans marketing communications, talent finding, and hiring, and she has a strong passion for finding and keeping talent, boosting the company’s reputation, and enhancing the employee journey.
Linkedin | Twitter
43. Craig Fisher
Craig is the creator, specialist in employer branding and marketing strategy at TalentNet Media. This company focuses on building employer brands and plans for hiring new talent. Craig also offers guidance to various businesses in HR technology and digital strategies. He’s collaborated with major companies like LinkedIn, Toyota, YUM! Brands, HootSuite, and many more. Craig’s achievements include founding the first LinkedIn-certified training company in North America and initiating the initial Twitter chat for recruiters.
Linkedin | Twitter
44. Vernā Myers
Vernā holds the position of VP of Inclusion Strategy at Netflix, where she focuses on promoting cultural diversity and inclusion. She’s an expert in the field of diversity and is known for her work as a cultural innovator and social commentator. Her role involves developing and executing strategies that infuse cultural diversity, equity, and inclusivity into every aspect of Netflix’s global operations.
Linkedin | Twitter
45. Amy C. Waninger
Amy is the CEO of Lead at Any Level, a company that partners with organizations to develop a diverse leadership talent pool, ensuring a lasting competitive edge. She’s a DEI influencer, making inclusion happen, as a speaker, trainer, and consultant. Her focus is on helping companies keep their top talent and foster inclusive environments.
Amy is a specialist in leadership, diversity, inclusion, networking, and unconscious bias. She frequently talks about retaining employees, keeping them engaged, and reducing turnover on her social media platforms
Linkedin | Twitter
46. Risha Grant
Risha serves as the CEO of Risha Grant LLC, a company that offers a wide range of services related to diversity and inclusion communication and consulting. She is widely recognized for her expertise in this field and is an international speaker, author, consultant, and host of the KJRH-NBC Risha Talks series.
Linkedin | Twitter
47. Jan Tegze
Jan serves as the Technical Recruiting Director at Tricentis. He is a speaker, trainer, blogger, and a leader in talent acquisition. Jan is also the author of “Full Stack Recruiter: The Ultimate Edition,” a thorough guidebook essential for professionals in the field.
His background includes effectively leading teams and implementing recruitment and sourcing procedures. At conferences and events, Jan discusses various topics, such as global recruitment, sourcing techniques, innovative recruitment tools, strategies for sourcing, analytics, and more.
Linkedin | Twitter
48. Lynne Oldham
Lynne holds the role of Chief People Officer at Glynn 100 and Stash. With more than two decades of experience in strategic HR leadership and talent acquisition across different sectors, she is dedicated to building vibrant, efficient, and financially successful companies. Lynne focuses on harnessing diversity and crafting strategies that inspire a sense of belonging and engagement among employees, ultimately leading to positive outcomes.
Linkedin | Twitter
49. Dalila Wilson-Scott
Dalila is the EVP and Chief Diversity Officer at Comcast Corporation and President of the Comcast NBCUniversal Foundation.
She frequently speaks on philanthropy and equity-related topics at prominent events like the Aspen Ideas Festival, Social Innovation Summit, MIT Solve, USC Center on Philanthropy and Public Policy, and the Women’s Philanthropy Institute’s Annual Symposium.
The DEI influencer is passionate about social impact, inclusion, and innovation, topics she frequently discusses on her social media profiles.
Linkedin | Twitter
50. Lindsay-Rae McIntyre
Lindsay-Rae is the Chief Diversity Officer at Microsoft, aiming to build a stronger future through inclusive culture and technology.
With more than 20 years of experience in HR for the technology industry, she is passionate about using cutting-edge, inclusive people methods to drive corporate growth.
With more than 18K followers on her LinkedIn profile, Lindsay shares her tips and knowledge on diversity, inclusion, and allyship matters.
Linkedin | Twitter
观点
2023年12月04日
观点
Anita Lettink Challenges HR Norms: Adapting to the Unpredictable Work Landscape of 2024ANITA LETTINK：Why I'm not writing 2024 HR trends
Anita Lettink, in her newsletter, discusses why she is not writing the 2024 HR trends. She emphasizes the importance of a dynamic, continuous strategy over annual predictions in HR. The article reflects on the evolving nature of work and the need for a fluid, adaptable approach. Lettink argues that understanding and navigating HR challenges require responsiveness to rapid changes in technology, economics, and workforce dynamics. She introduces the 2024 HR challenge, encouraging HR professionals to maximize the use of their HR solutions and focus on making incremental changes to better support their workforce.
推荐给大家；
Hey future of work friends,
I probably find you during budgeting and planning time. For me, it’s the end of conference season. I did my final keynote on the New Employee Experience at Indeed FutureWorks last week. And now I am back home, and will use December to read everything I bookmarked to surprise you with new keynotes and articles next year. I’ll also write my annual HR Tech Startup report.
And if you’d like an in-company webinar on what to expect from AI in HR or how to prepare for Equal Pay please reach out - I’ve got you covered!
Thinking about the Future of Work is important. And yes, you’d already assumed I would say that. I've spent years analyzing trends at the intersection of economics, business, technology, and human resources. Each year, I've distilled these insights into trend articles, aiming to forecast the year ahead. However, I've realized that our rapidly evolving world demands a different approach. In this newsletter, I'll share why I've moved away from annual trend predictions and why we need a more dynamic, continuous strategy in understanding and navigating HR challenges. I'll explore how embracing a fluid, responsive stance can better equip us to handle HR (tech) developments.
Why I am not writing 2024 HR trends
I've always been deeply invested in keeping a finger on the pulse of our industry. For years, it was a tradition of mine to sit down at the end of each year and write an article on emerging trends in Human Resources, based on my analysis of developments in economics, business, technology, and HR. I wrote them to reflect on the past year and help you - and me - prepare for the next.
I stopped this tradition. And if you wonder why, it's not for a lack of trends or changes in the industry—far from it. The HR landscape is as dynamic as ever, perhaps even more so. But I've realized that these annual trend articles, while insightful, may not be as beneficial as I once thought. Sure, they give a nice overview of what’s happening and what might happen, but you can’t run after every trend. And most years there were way too many of them.
The world of work is evolving at an unprecedented pace, and the tools and strategies that were groundbreaking a year ago might now be outdated. In this fast-paced environment, I believe that what we need isn't annual predictions but a continuous, adaptable approach to understanding and navigating HR challenges. When you want to provide a stable environment for employees and your company, thoughtful, strategic adjustments might be much more impactful.
So, instead of offering predictions, I'm taking a different path. I want to share with you the reasons behind this shift in my thinking and why I believe it's crucial for all of us in HR to adopt a more fluid, responsive stance towards industry trends.
Embracing a fluid approach
This change was sparked by several realizations. Firstly, the very nature of HR is fundamentally about people, and people are inherently unpredictable. People also like stability. And while trends can give us a broad outline, they can't capture the nuanced, often sudden shifts in employee needs, workplace dynamics, and organizational cultures. We all remember the start of the pandemic, when we put everything aside to make sure that employees could work safely, and where possible, from home. And while we might think this was a once-in-a-lifetime occurrence, we also know the world has become more unpredictable, and we should be ready to deal with similar sudden events.
And that means we should think more in terms of how we can offer a stable base that can handle these sudden shifts. That also means we should not be so quick in dividing work in “the past” and “the future”. While some people argue you should only look at the future of work, I believe we should take a much more nuanced approach.
As example, the picture above: it’s often used to show the past and the future of work. In my thinking, both sides represent the future. It’s not either/or, it’s and/and. And when I speak about the New Employee Experience, I use it to encourage HR professionals to cast a wide net: how can you offer all work options, so you appeal to a larger section of the workforce? It’s not about discarding the past and looking at the future. It’s embracing both where you can. Some people like the 9-5 day, working from an office. Some people find profit more important than purpose. It’s about offering a wide range of choices, to attract and retain people in a time when the labor market is tight. That’s especially important when you work in the Global North, and a next major shift is upon us: a shrinking workforce due to demographics in combination with the lack of skilled workers.
How useful are predictions anyway?
Secondly, I noticed a pattern over the years. Many of the trends I predicted would either rapidly evolve or be overtaken by entirely new developments before the year was out. Just look at Generative AI: at the end of last year, no one predicted that this would be the main topic of 2023. This rapid (r)evolution made me question the usefulness of annual predictions: why do we write them only at the end of the year? In a world where change is the only constant, static yearly forecasts seem almost counterintuitive. How can we even begin to predict what is coming, when recent events put everything we know upside down?
And lastly, I also started to wonder if focusing too heavily on future trends might pull us away from the present. When we always look ahead, we might miss crucial opportunities to address current issues effectively or fail to build on the strengths we already have. It can sometimes cause us to miss out on addressing the immediate needs and challenges facing our employees and organizations.
By constantly chasing what might be ahead or new, we risk not fully leveraging the strengths and successes we currently possess. It's vital to strike a balance between preparing for future changes and optimizing our current practices. This way, we can ensure that our efforts are not only geared towards what the 'future of work' might look like but are enhancing today’s HR strengths, thereby creating a more holistic and effective HR strategy.
2024 Challenge
And to illustrate the above with a practical example, let me ask you this: what percentage of your HR solution do you actually use? I am not asking for an exact number, just an estimated guess. When you look at its current functionality, do you use all of it? Half? Maybe even less?
When you close a contract for an HR cloud solution, the vendor will not only maintain the solution in its current state, but also improve it over time. And the fee you pay covers all those new features and functionalities. That means you get more bang for your buck. But if you don’t activate any of these features, then the vendor is wasting development capacity, and you are paying for something you will never see. Would you consider that good use?
And the problem isn't just the use; you will also miss out on the potential to support your workers better and change your workplace. Every unused feature in your HR solution is a lost chance to improve employee engagement, streamline processes, or uncover people insights.
So, here’s my 2024 HR challenge for you:
1. Guess: How much of your HR solution do you use today?
2. Pick one unused feature in your HR solution, explore it, and make it available!
Try to make a gradual change every month. Repeat that during the first six months of 2024 and then evaluate your success or learn from your mistakes! And don’t forget to tag me with the results! Instead of focusing on yet another 2024 HR trend, let’s make sure that we first use our HR solution to the fullest, one feature at a time. I think this will be more helpful to your organization than you might think.
Let’s continue the conversation
I don’t want to leave you with the impression that looking forward isn't important. On the contrary, it's crucial. If only for the reason that what we build today will affect our future workforce the most. But we should do it with the understanding that HR is less about predicting the future and more about creating it through proactive, ongoing engagement with our workforce, our company, and the world around us. To maybe not take giant leaps but make incremental changes that benefit the people we work with most. People are tired of constant change. However, we can draw inspiration from social media tools - by implementing small, gradual improvements, we can consistently enhance the experience, allowing people to smoothly adapt to these changes over time.
This shift is not just about how we talk about HR trends; it's about how we do HR. It's a move towards a more dynamic, responsive, and collaborative approach that recognizes the complexity and fluidity of our work. It's about creating a living dialogue that evolves with our ever-changing environment.
We must talk about the future. But it shouldn’t be confined to the end of the year. There is no reason for such a hard cut. I look forward to engaging with you, in continuous conversations about what we're seeing, doing, and expecting in real-time. This approach, I believe, will not only keep us more connected to the immediate needs of our organizations but also better prepared to adapt to whatever the future holds.
While I don’t write HR trend articles anymore, my commitment to helping you understand and make sense of the future of work is as strong as ever. I will keep you posted on the latest developments as I see them. I will continue to write this newsletter about my observations on how we can improve work with the help of technology, especially new tech.
Good luck with planning the year ahead. And let me know if you would have preferred a list of 2024 HR trends,
Have a great day, Anita
What’s next for compensation?
Pete Tiliakos, Anke Mogannam and I participated in an online #WDAYChats. We shared insights and POV’s on modern payroll operations and how payroll leaders can help their organizations minimize cost and accelerate innovation.
Decusoft asked me how companies can prepare for pay transparency and equal pay. You can find my answers here.
Indeed asked people if money really makes them happy. Find the surprising answers, an interview with yours tryly and more compensation charts in this insightful Dutch report: De toekomst van compensatie.
观点
2023年12月01日
观点
Don’t Be A Copy-Cat: People Analytics as the Antidote to HR Strategy Copy-CatsThis article is written to discuss: why copying the HR practices that everyone else uses doesn’t lead to the positive outcomes you assume it will.
DISCLAIMER: If you like the HR strategy at your organization, you can probably stop reading now… If not, feel free to keep reading.
Context
Childhood wisdom: No one likes a copy-cat.
We all remember being children once. Kids are known to tease each other from time to time. One common reason to be teased when you were a child was being called a “copy-cat”. It didn’t feel good, often because we knew that if we were labeled a copy-cat, it was likely true. We were copying someone else. It felt bereft, unoriginal, and commonplace. We knew we were capable of being more, but we had settled for less. We were better than that. HR strategy can be better than that too.
Fast forward to the present, in HR being a copy-cat is all the rage. A priestly caste of HR influencers, HR tech consultants, FAANG companies, and sometimes even academics determine what is considered ‘en vogue’ as an HR strategy. Then, early adopter HR departments fall in-line; followed by the early majority and late majority after a few HR monkeys get “shot into space” without injury. The laggards may never arrive because they are still trying to move away from using paper files stuffed in filing cabinets, but nonetheless, being a copy-cat all the sudden became cool. Why be original when you could be doing what everyone else is doing? Perhaps, this is why Forrester is forecasting an EX winter coming soon…
In the African savanna, large numbers of herd animals, such as wildebeest, zebra, and gazelles, travel in packs. Why do they do this? Because there is safety in numbers. A zebra with a single imperfection or mark is easily identified and pulled from the pack by predators. Is the same true for HR? Are we safer in a pack? Is there wisdom in being a copy-cat? Would anything different make us stand out and therefore be put in danger? I think not. I think the opposite is true, in fact.
If you do all the same things as your competitors, how can you expect to get different results?
Does this HR strategy sound familiar?
“We’re going to try to hire the best talent, but only pay at the 50th percentile.”
“We’re a performance-driven organization, but we’re going to do performance reviews once a year on a 5-point rating scale, and we’ve got to implement a pay-for-performance incentive structure.”
“Our HR operating model is to use HR Business Partners, Centers of Excellence, and Shared Services.”
“We’re going to copy what Google did 10 years ago, or what GE did in the 80s.”
“We’re going to make data-driven decisions. I know! Let’s create another HR dashboard.”
If your organization wants to be radically better, it’s going to have to try some things that are radically different. Did anyone see Coinbase’s recent blog on Talent Density? I’m not saying I agree with the changes to their HR strategy, but at least they are trying to differentiate their HR strategy to be something different. They are getting into the game, for better or worse.
Source
What To Do, What To Do?
HR strategy should be composed of elements that are as unique to your business as your business strategy is unique to your business. It’s really as simple as that.
HR Strategy is upstream of people analytics. A vanilla, copy-cat HR strategy is going to lead to vanilla, copy-cat people analytics. In my opinion, people analytics doesn’t spend enough of its resources trying to familiarize itself, influence, and control HR strategy. People analytics should speak in the social currency of the organization. We should embed ourselves and influence key decision making, and have a seat at the table by speaking in the language of the business. There is social capital to be had, and the more I learn, the more I realize the necessity of this alternative currency. We should drive strategy.
With generative AI disrupting the value that human capital brings to organizations, who are the organizations that are going to be the innovators of tomorrow? Who are the organizations who will get the message early? Who will treat the need for differentiation with the existential demand that it dictates? Who will survive?
Source
“Best Practices”
I’m tired of the term ‘best practices’. I’m at a point in my career where I bristle when I hear someone say it. Perhaps it's one of the reasons why some people hate HR.
Organizational research is important, but best practices are a road to mediocrity. No one ever got fired for going with IBM, and no one ever got fired for using best practices… Until the whole firm loses to its competition, and everyone gets fired. Read it again, and think about that. It’s a short-term vs long-term thinking dilemma. Obviously, balance the two, but make sure to think with the long-term in mind.
What if instead of copy-catting, you:
A/B tested your HR strategy against those of other firms
Used opposition research to understand your competitors HR strategy better, so you can do something different
Implemented evidence-based practices on commoditized work, but experimented with firm-specific practices in the most strategically-relevant work
Focused on first-principles thinking as to how firm value is derived by its talent
Choose function over fad, when it comes to HR strategy
Rebuild HR strategy like the Oaklands As (and the Houston Astros) tore down and rebuilt their teams based on talent derived from data. Embed data, measurement, accountability, and the “improvement feedback loop” into every single workstream that HR engages. Henry Ford once said “if you always do what you’ve always done, you always get what you’ve always got.” HR could be convicted of being mediocre. Average is over (or maybe even above average is over?). Differentiation is king. Strategic neglect (i.e., neglecting things that don’t add value) is also a valuable tool. Where do we need to be world class? Where can we be average? Answer those questions, then execute.
Source
Rebuilding HR Around Data & Measurement
In most HR functions, data is only used to validate, not to guide. No one thinks for themselves. Mimicry and mimesis abound.
People analytics is a competitive advantage for firms who use it properly. People analytics is the future of HR. Proclamations such as this have been made consistently in the past (e.g., HR is over, remote work is the future, there is no need for management, human tasks at work will be automated with AI, etc.), but this one is for real. Firms who are not embedding data into the way they do business, evaluating what they do with data, and projecting the future with data are going to be irrelevant.
In the future, even in the age of generative AI, there is only one currency, and that is truth. Truth can only be derived as data put into practice. Classical test theory states that all measurement is “truth-plus-error”, with error being any deviation between measurement and the truth. Some stakeholders believe that to mean that truth can never be attained because error will always exist. Practically, this is a misinterpretation. Organizations that can manifest the best data with the least error will be the closest to truth, and therein lies the root of competitive advantage via data. People analytics is not inherently useful. Data is not inherently useful. Only accurate data, with analysis and cogent results, derived into a form that facilitates timely and accurate decision making, and that is put into action, is useful. And across the aggregate of thousands, if not millions of small decisions made leads one organization to prevailing over another. May the odds ever be in your favor.
Source
Moving Forward
“Traditional HR” has been on the way out for decades. This article is for HR people who believe in challenging the status quo. Deep down they know there is a better way; a way forward for their organization. To not outsource their originality to others. To not be a copy-cat. Let’s focus on what the pathway forward looks like with a new highest principle – no longer “what is everyone else doing?” – but with data and measurement at the center. This article is for the HR professional who knows that HR can be smarter, faster, and better at their organization, and they are bound to make it happen. Join the movement. Don’t be a copy-cat. Let’s see how high we can fly together.
PS - I’m thinking of writing a book on this topic. If you’re a publisher and you are interested in this topic, or others I’ve written about before, please contact me directly.
Special shout out: Thanks to Brad Harris & Pat Downes for our previous conversations on this topic.
I hope you like this article. If so, I have a few more articles coming out soon. Stay tuned. If you are interested in learning more directly from me, please connect with me on LinkedIn.
Cole’s recent articles
What’s Old is New: The Quest for Excellence in Workforce Planning
A Historian, Demographer, & Data Scientist Walk Into a Bar…
The Phoenix & The Dragon
Why Buy When You Could Rent: SEC’s Push for Human Capital Disclosure
Elephant Hunting: Weighing Human vs. Algorithmic Input to Decision Making
For access to all of Cole’s previous articles, go here.
By: Cole Napper
原文来自：https://directionallycorrectnews.substack.com/p/dont-be-a-copy-cat-people-analytics
观点
2023年11月30日
观点
How to Strategically Plan a Budget for HR in 2024The article discusses strategies for planning an HR budget for 2024, emphasizing the need for advanced HR technology and digital tools to enhance employee experience. It highlights the importance of focusing on talent retention due to high attrition rates in Asia and adapting to changes in the workforce market. The article stresses compliance with labor law changes and the need for a data-driven approach to budgeting. It outlines key budget components, including recruitment, training, salaries, HR technology, and employee well-being, to ensure a comprehensive plan for organizational growth and success.
As companies brace themselves for 2024, many HR teams are busy preparing comprehensive budgets for the coming year. Fortunately, with a host of cutting-edge HR technology and digital tools available, companies can plan a budget with more resources at their fingertips to better plan for the year ahead, significantly enhancing the overall employee experience.
In terms of a direction for 2024, companies are encouraged to channel more efforts towards talent retention, given the high attrition rates across Asia. In an effort to further empower their workforce and improve organisational culture, having the right HR tech is also a crucial consideration.
On that note, let’s look at how to create your 2024 HR budget and what to include in it.
What’s Most Important in Your 2024 Budget Plan
Keeping up with recent advancements for your workforce:
Understand how the talent market in 2023 will differ from 2024’s and plan for your manpower accordingly.
Consider if there has been a new shift towards or an increased use of AI tools to enhance both employee experience and candidate experience. According to analytics and advisory company Gallup, higher employee engagement translates to increased profitability – 23% more, according to their research.
Compare the workforce flexibility levels in your company with that of the overall job market – bearing in mind that there is a greater inclination towards a more flexible workforce, in terms of temporary and contract vs. permanent staffing.
Consider any increase in costs due to inflation, as salary (and potentially benefit) increments will have to be made accordingly.
A greater focus on talent retention:
To be able to maintain a robust and healthy workforce means to prioritise talent retention. With high employee attrition rates and talent retention being a top HR challenge in 2023, a key focus for businesses should be on how to retain their workforce better in 2024.
After conducting a thorough review internally, consider looking into programmes, practices and systems that can improve employee satisfaction, provide stronger employee assistance programmes and support, as well as streamline the overall HR experience for your employees.
Remaining compliant with labour law changes:
Given that 2023 has been a year with many labour law developments across various countries in APAC – such as Malaysia’s massive overhaul of its Employment Act and Singapore’s introduction of the COMPASS framework for Employment Pass applications – it is highly crucial for companies to remain compliant with upcoming labour law changes in all locations, particularly those with a presence in multiple countries.
Compliance can come in the form of adhering to minimum wage hikes, new tax brackets, increased number of leave, and so on – all of which can incur additional costs and would need to be accounted for in the HR budget. Additionally, remaining compliant with labour laws ensures there are minimal legal and financial repercussions, leading to a more prudent budget.
How Do You Prepare an HR Budget?
When you plan a budget for HR, some crucial pointers to have in mind when listing down what to include are:
Building a Strategy for Smart Expansion: Consider your company’s expansion plans for 2024 – if any. Coming up with a solid plan if you want to expand in 2024 is crucial, and you can consider a low-cost and minimal-risk option such as an employer of record. According to an article by Yahoo! Finance, in 2023, the worldwide EOR market reached a value of USD 1890.29 million and is projected to grow at a compound annual growth rate (CAGR) of 12.07% over the forecast period, ultimately reaching USD 3745.43 million by 2030.
For companies with multiple locations, when revising the budget, HR will look at which locations are now more mature and stable compared to last year to allocate the budget more evenly.
Investing in The Right Software and HR Tech: Get acquainted with the latest AI trends in hiring and find out how the right tools can enhance your journey of finding the right people to join your workforce.
Integration Options for Different Business Sizes: Speaking of knowing what works for your company size, if you’re a regional company, you’d likely work with a payroll outsourcing provider to streamline your regional payroll. Revisit your current service to see if its integration capabilities are still suited to your business – depending on if your headcount has been expanded or downsized recently.
A Data-Driven 2024 budget: A budget that is tailored heavily based on data allows for better foresight, less errors and allows you to make better informed decisions for your businesses. A report by McKinsey Global Institute shows that data-driven organisations are likely to be 19 times more profitable, and 6 times more likely to retain those customers. You can use data from previous budgets to get insights on what to do differently this time.
What are the must-haves in your HR budget?
If you’re wondering what a complete 2024 budget should entail, the following list can serve as a general checklist of what to cover:
Recruitment and hiring
Hiring Agency / Job advertisements
Employee assistance programmes
Interviews, screening candidates and background checks
HCM software management
Onboarding procedures
Employee relocations
Recruitment marketing
Talent retention
Outplacement Services (if required)
Visas and work permits
Training and development
Employee Certifications
Trainer/expert/consultant fees
Addressing skills gaps
Learning systems
Salaries and other benefits
Employee salaries
Overtime pay
Payroll system management and maintenance
Insurance & healthcare
Other statutory contributions
Retirement plans
Paid time off
Employee bonuses
HR Technology
HR Information Systems
Payroll Outsourcing Systems and Integration costs
HR Vendor
HR Team Upskilling
HR Certifications
Workshop and Training budgets for HR team
Diversity and Inclusion
Increase in diversity hiring
Implementation of inclusive hiring practices
Employee safety and well-being
Employee health
Security at work
Physical and mental employee well-being
Others
Employee/employer appraisals and surveys
Upkeep of recreational areas in the office
Company trips
Fitness facilities
Safety trainings
Some resources to use when you plan a budget for HR:
Having a wealth of handy information can help you plan a budget more efficiently. If you’re looking for resources on the latest HR developments across idea, here are a few you might want to look at.
Resources
Guide to Hiring in Asia – A compilation of in-depth guides for various countries across Asia on how to compliantly hire employees in each country.
APAC Labour Law Insider – Quarterly updates on HR legislations across 17 locations in Asia.
China Labour Law Updates – Monthly updates on China’s labour laws.
Labour Law and Compliance Workshop Webinars – Complimentary webinars on labour law updates across various locations in Asia.
Templates and Checklists
HR Onboarding Checklist Template
Payroll Request For Payroll Template (RFP) Template
Handover List Template
Layoff Planning Checklist
China Personal Information Protection Law HR Compliance Checklist
Out of Office Message Template
In conclusion, having an HR budget is essential for companies as it provides a structured financial plan to effectively manage and optimise their most valuable asset – their workforce. It ensures that resources are allocated for hiring, training, and retaining employees, ultimately contributing to organisational success and growth.
Looking for a HR provider that can offer you HR outsourcing, advisory and HR tech services? At Links, we look forward to providing you with complete HR solutions to drive your organisation. Contact us today for more information!
观点
2023年11月28日
观点
微软首席人力官Kathleen Hogan：员工如何充分利用人工智能
Kathleen Hogan Chief People Officer at Microsoft [Photo: courtesy of Microsoft]
微软首席人力官 Kathleen Hogan表示，人工智能对我们工作方式的影响将比个人电脑更大。
AI是我们时代的决定性技术，创造了一个巨大的范式转变，它将改变我们的工作方式，影响力甚至超过了个人电脑的引入。我们曾经有一个大胆的愿景，“每个办公桌上、每个家庭里都有一台电脑”，而今天，我们希望在“每个人的口袋里都放一个副驾驶”。
当然，AI的影响也伴随着挑战。我们必须解决关于工作流失、算法偏见以及组织快速培养技能的真实担忧。但最终，我相信AI的潜力太大，不能采取观望态度。
领导者需要创造正确的环境，让AI获得积极的势头。这将需要准备和有意识的方法，以便这些新的AI工具不仅帮助员工提高生产力，而且帮助他们茁壮成长。我建议关注这三个方面，以更快实现这些好处：培养基于敏捷的文化、重新想象我们的工作方式、投资于更深层次的人类技能。
培养基于敏捷的文化
为了充分利用AI的承诺，团队必须保持敏捷。
即使是那些多年来一直在内部使用AI进行数据分析、预测建模和任务自动化的公司，生成性AI也代表着一个重大转变。通过能够理解人类语言、导航大量文档知识并创造内容，更多职能的员工现在可以使用这些AI工具。
一个基于敏捷的文化还将加速组织建立推动AI价值的更广泛基础和最佳实践的能力。我相信，在AI时代培养这样的文化意味着拥抱适应性领导力，领导者必须愿意深入未知。
重新想象工作方式
20世纪80年代和90年代的机器人自动化进步使制造业生产力翻了一番。这不是仅仅通过给工人提供更高效的工具实现的——公司通过重新思考生产技术和重新设计工作流程，优化人与机器之间的流程，实现了机器人自动化的全部价值。
同样，要充分利用AI采用的价值，领导者需要重新想象工作是如何完成的。这始于将工作分解为更小的任务，以确定AI能做什么，以及或者比人类做得更好。除了自动化一些重复或乏味的工作任务，我们还需要确定AI可以如何协助员工处理更复杂和微妙的任务，如研究、写作和分析。
这个想法是让领导者利用这段时间，不仅是自动化流程，而且是与AI一起重新想象流程，寻找新的工作方式。这将最终帮助人们更聪明地工作，而不是更努力地工作，给他们带来更多的精力，并发现更有意义和更令人满意的工作。
关注人类技能
生成性AI已经被训练了大多数人类语言，所以任何人都可以使用它。但就像任何新技术一样，仅仅给人们新工具而不提供使用它们的技能是不够的。
而且，尽管这似乎与直觉相反，人类技能与技术技能一样重要，以有效使用AI。这包括分析判断力、灵活性、情商、创意评估、智力好奇心、偏见检测和处理能力，以及委派任务的能力。
事实上，我们现在发现，基本的管理技能是发掘AI副驾驶的全部潜力的关键。就像委派给人类员工一样，与副驾驶合作需要能够清晰地沟通，设置背景和参数，定义期望，分析结果，并提供反馈。
一个好的起点是根据学科开发AI技能培训和实践。随着我们从自动驾驶AI转向副驾驶AI，对人们来说，仍然扮演飞行员的角色，用批判性的视角评估他们从AI工具中获得的输出是必要的。这包括验证准确性和评估偏见。最终，飞机的船长有责任成功着陆。
我相信，解锁AI的全部潜力是领导者的责任。AI的创新正在以惊人的速度发生。当我们导航AI对工作场所的影响时，组织领导者必须立即开始培育正确的环境，以确保没有人被遗留在后面。仅仅将AI工具放在员工手中是不够的。当我们培养基于敏捷的文化、重新想象我们的工作方式，以及建立获得AI最佳效果所需的人类技能时，我们可以帮助我们的组织和员工在这个新时代中茁壮成长。
对我来说，能够成为这个令人难以置信的时刻的一部分，既令人兴奋又令人振奋。
英文原文来自：https://www.fastcompany.com/90982077/microsofts-chief-people-officer-heres-how-workers-can-get-the-most-out-of-ai
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