Josh Bersin:Digital Twins, Digital Employees, And Agents Everywhere2025 年，数字员工和人工智能助理的崛起将彻底改变人力资源运营，改变招聘、数据分析和员工管理等任务。 这些技术包括数字双胞胎和智能代理，它们将与人类专业人员一起工作，以提高生产力和优化工作流程。 随着人工智能工具成为日常业务不可或缺的一部分，人力资源领导者必须拥抱这些创新，同时继续关注技能培训、心理健康和包容性工作环境。 向人工智能的转变还将重塑团队动态，这对人力资源部门重新设计角色和流程以保持竞争力提出了挑战。
I recently heard Elon Musk predict that every citizen would have multiple Optimus robots in their homes within five years. And while I often ignore his predictions because they’re exaggerated, I think he’s on to something. We are about to witness an explosion of Digital Employees in our companies, and these may be the “robots” we’ve heard about for years.
Let me explain. This week I talked with dozens of vendors and clients at Unleash and then visited our development partner Sana Labs in Stockholm. It’s now clear that we’re going to be working with multitudes of “digital employees” in the year ahead.
(And as Dario Amodei, the founder of Anthropic explains, AI can do many more positive things in business, science, and health than we ever imagined.)
By “digital employee” I mean a software powered agent that can talk with us, answer detailed questions, solve complex analytic problems, and navigate a multitude of systems. ChatGPT and its peers, which introduced the idea of an agent, has now spawned dozens of “agentic” use cases, which I’d be willing to refer to as personalities.
Let me start with a “Digital Twin.” Imagine you have a superb customer service agent with years of experience helping your most demanding clients. If you load the last five years of their emails, coupled with all their internal documentation, and a log history of their last two years of service calls, you can essentially “create him or her” digitally with all the knowledge, style, and internal contacts this person has developed. This twin, which may look initially like an AI assistant, could then carry on this employee’s work when the real life worker is on vacation.
One of our clients, a large insurance company, has already built “digital twins” for claims processing. If you think about the complexity and workflow of processing a claim, much of it could be learned by an agent, making the “claims robot” an expert on this important process. And as you change claims rules and limits, the agent will learn new guidelines in only seconds.
Our AI assistant Galileo, a trained expert on HR (Galileo is trained on 25 years of research and thousands of conversations with clients and vendors), is essentially a “digital twin” of me and the other analysts in our firm. I’m not saying Galileo is as fun to talk with as we are, but I can assure you that he (or she) is as knowledgeable and supportive. And Galileo is even smarter than I am: he has instant knowledge of skills models, compensation benchmarks, turnover statistics, and other data bases which I can only access by looking them up on demand.
And using the Sana platform we can configure Galileo to have multiple personalities. Galileo the “Recruitment Agent” might have in-depth knowledge of screening, interviewing, and candidate skills assessment and he may have direct linkage to SeekOut, Eightfold, or any other sourcing applications. In his candidate facing personality he may be able to answer candidate questions, explain shift schedules, and “sell” the company to top job candidates. (This is what Paradox has done for years and vendors like Eightfold and LinkedIn are launching now.)
But there’s more. Imagine that this “digital twin” or “digital employee” has intimate knowledge of Workday, SuccessFactors, or a variety of other systems. Now the assistant can not only answer questions and help solve problems, he can also process transactions, look things up, and run reports against multiple system. The digital employee has turned into a “digital analyst,” who can find things and do work for you, saving you hours of effort in your daily life. (Vee from Visier is designed for this.)
Suppose you ask your digital friend to attend meetings for you, participate in conversations on certain topics, and alert you in real time when urgent issues come up for discussion. He could help you scale your time, keep you informed about decisions you need to know about, and help you manage your action items. And the list goes on and on and on.
Best of all, what if your digital twin can talk to you. Suppose he “checks in” with you about the project you asked for help with last week, so you inform him how things are going and he gets “smarter” about what you may need next. Galileo does this today, prompting you to dig into a problem and explore areas you may not have considered. And if you ask him about management or people issues, he could give you advice and coaching, based on the leadership models or even CEO interviews in your own company. (BetterUp, Valence and others are working on this.)
This is not science fiction, my friends. All this is becoming reality and will certainly be common next year.
Every vendor has a slightly different focus. The Microsoft Copilot specializes in MS Office-related activities, ServiceNow’s focuses on internal service and support, Galileo is focused on the needs of HR, and Joule is an expert on all the functions of SAP. Each of these “digital employees” needs training, feedback, and connections to stay current and relevant. So it’s doubtful that one digital employee will do everything. (Training a digital employee means managing his or her corpus of information, which will be a major new role in HR.)
One thing is very clear: we are going to be living and working with these guys. And as we use them and see what they’re capable of, we’re going to redesign work. Little by little we’ll offload tasks, projects, and workflows. And as we do, we’ll get smarter and smarter about redesigning our teams.
I liken the process to that of a carpenter who gets a new multi-function power drill. Before the drill he may have manually drilled holes, carefully selecting the drill bit and the level of pressure based on wood density. Now he drills holes faster, more accurately, and with more precision. Soon he just speeds through the process, spending more time on cabinet fit, finish, or design.
The same thing will happen to our HR tasks, projects, and designs. And these new digital employees are programmable! So once we figure out what they’re capable of we can adjust them, customize them, and connect them together. Eventually we’ll have intelligent assistants that operate as entire applications. And that’s the threat to incumbent software companies – the agents hollow out many of our existing applications.
How Do Our Digital Employees Impact Our Own Work?
One more observation. Many a few of the clients I talked with kept asking “what about our softskills?” What work is truly human?
I think that’s the wrong question. Rather we should ask the opposite: how much can I delegate to my new friends as fast as possible!
Have you been upset that your vacuum cleaner took away the rewarding human work of sweeping a floor? How much joy do you get from washing dishes? Did your dishwasher make you feel deflated when you stopped splashing around in the soapy water?
Of course not – these tools eliminated tasks we considered to be “drudgery.”
Well today, thanks to digital assistants, creating a pivot table to do cross-tab analysis has become drudgery. You can stop getting your hands wet with that task – ask Galileo or Copilot to analyze the data, and then ask him to chart it, add more data, and try new assumptions. The more we learn to use these new digital employees the more “drudgery” we can stop doing.
And consider complex “human-centered” activities like “change management.” A client asked me “how could Galileo help me with change management for our new HCM system?”
I answered her with dozens of ideas: ask Galileo for case studies of other companies and have it build a checklist to consider based on what other companies did. Then ask Galileo to build a training plan; ask it to read the user documentation and create a table of what features are new; then ask Galileo to rewrite that change plan by role. And finally ask Galileo to write a press release about success, craft some compelling communications to employees, and ask it to compute the ROI of all the steps eliminated.
These are all “manual” human tasks we do today and they take time and ingenuity to figure out. If you went through this process in Galileo you could ask your digital employee to save these steps and prompts in a “template,” and you have just taught your digital employee how to do change management. The next time you need him he can step you through the process.
As I started to explain this to my client I stopped and said: wait a minute. I can’t possibly show you everything Galileo can do. You have to try it for yourself.
And that’s my big message. Don’t wait for a vendor to drop a finished solution in your lap. These are intelligent, trainable, digital experts. You have to get to know them so you can figure out where they fit in your job, your projects, and your company. Just like you do with any new hire.
I say it’s time to get started. No more sweeping floors or washing dishes by hand. Let’s meet our digital employees, tell them about our projects, and ask for their help. Step by step, day by day, we can redesign our jobs to be more more productive, liberating us to do greater things.
德州联邦法官全国范围内推翻联邦贸易委员会禁止竞业限制协议的禁令On August 20, 2024, a federal judge in Texas struck down the Federal Trade Commission's (FTC) nationwide ban on noncompete agreements, ruling that the ban exceeded the agency's statutory authority and violated the Administrative Procedure Act. This decision, just 15 days before the ban was set to take effect, marks a significant victory for employers, particularly in the healthcare sector, and a setback for medical workers who anticipated increased job mobility and wage growth. The ruling also aligns with concerns from the American Hospital Association and other industry groups regarding the potential disruptive impact of the ban. The FTC is considering an appeal, but the ruling emphasizes the ongoing legal challenges surrounding the agency's authority to regulate noncompete agreements.
德克萨斯州一位联邦法官周二推翻了联邦贸易委员会（FTC）对雇佣合同中竞业限制协议的禁令，裁定该禁令违反了《行政程序法》并超出了该机构的法定权限。
这一裁决适用于全国范围，并在禁令原定于9月4日生效前15天作出。
美国德克萨斯北区地方法院的艾达·布朗法官上个月已经做出裁定，初步禁止FTC的竞业限制禁令，但仅限于本案的原告。
然而，布朗法官在8月20日的决定中完全取消了这一规定，因为她写道，APA“并未考虑针对特定当事方的救济”。
这一决定是对美国商会——全国最大的商业游说团体——的胜利，商会与一家税务公司一起提起了诉讼。
对于医疗行业而言，这一裁决则是喜忧参半。禁令原本被认为可以帮助被限制性合同束缚的医生、护士和其他医疗工作者更容易换工作，并可能促使工资上涨。
据美国医学会称，大约35%到45%的医生受到竞业限制协议的约束。
然而，关于禁令仍有一些悬而未决的问题，包括FTC是否有法律权力颁布此禁令、是否适用于非营利性医院以及它将如何影响并购活动、医生短缺和招聘工作，特别是对较小的地区系统。
强烈反对这一禁令的强大医院游说团体——美国医院协会，对法官的决定表示了赞扬。
“这一规定是监管权力的惊人宣示……更糟糕的是，委员会没有尝试理解它对医院、卫生系统以及他们所服务的患者所产生的破坏性影响，”AHA总法律顾问查德·戈尔德在与Healthcare Dive分享的声明中说。
与此同时，FTC发言人维多利亚·格雷厄姆表示，FTC正在“认真考虑”上诉。
格雷厄姆指出，布朗的裁决并未阻止监管机构通过个案执法来追究过度限制性的竞业限制协议。
今年4月，FTC以3票对2票通过了这项禁令，该禁令将使所有现有的竞业限制协议（除了一些高级管理人员外）不可执行，并禁止签订新的此类合同。两位共和党委员投票反对这一禁令，认为FTC没有国会授权来实施它。
在周二的裁决中，布朗法官认为《联邦贸易委员会法》确实赋予FTC“制定规则以排除不公平竞争方法”的某些权力，但该机构“没有创建实质性规则”的权力，比如竞业限制协议禁令。
这一观点得到了这样一个事实的支持，即国会没有为某些FTC法规的违反规定制裁措施，“这表明缺乏实质性效力”，她说。
布朗还得出结论认为，FTC的禁令在《行政程序法》意义上是任意和反复无常的，因为它不合理地过于宽泛且没有合理解释。
法官表示，该机构未能为其决定禁止所有竞业限制协议而不是针对具体有害协议提供证据。
布朗的裁决与7月23日支持FTC的宾夕法尼亚州联邦法官的裁决相冲突，该法官拒绝阻止禁令。上周，佛罗里达州的一位联邦法官也对禁令发布了有限的禁令，认为FTC可能超越了其法定权限。
这些不同的裁决表明，FTC是否有权禁止竞业限制条款的问题可能会面临上诉审查。
Recruitment
2024年08月24日
Recruitment
Josh Bersin: When Will The Trillions Invested In AI Pay Off? Sooner Than You Think.近年来，生成式人工智能（GenAI）的投资已达数万亿美元，但围绕其回报问题的争论不断升级。一些分析师，如麻省理工学院教授达隆·阿西莫格鲁（Daron Acemoglu）和纽约大学心理学与神经科学教授加里·马库斯（Gary Marcus），对AI的经济影响持悲观态度，认为其对美国生产力和GDP增长的推动作用有限，甚至可能导致市场崩溃。相反，另一派如高盛的全球经济学家则乐观地认为，AI有望在未来十年内大幅提高生产力。然而，文章指出，生成式AI的真正价值在于其特定领域的应用。例如，Paradox和Galileo等HR技术平台通过高度专业化的解决方案，显著提升了招聘和人才管理的效率。最终，文章强调，AI行业仍处于早期阶段，成功的关键在于找到具有专注性和精确性的创新解决方案。
In the last few weeks there has been a lot of concern that Gen AI is a “bubble” and companies may never see the return on the $Trillion being spent on infrastructure. Let me cite four analyst’s opinions.
Will Today’s Massive AI Investments Pay Off?
MIT professor Daron Acemoglu estimates that over the next ten years AI will impact less than 5% of all tasks, concluding that AI will only increase US productivity by .5% and GDP growth by .9% over the next decade. As he puts it, the impact of AI is not “a law of nature.”
On a similar vein, Gary Marcus, professor emeritus of psychology and neural science at New York University, believes Gen AI is soon to collapse, and the trillions spent will largely result in a loss of privacy, increase in cyber terror, and a lack of differentiation between providers. The result: a market with low profits and big losses.
Goldman Sachs Head of Equity Research Jim Covello is similarly pessimistic, arguing simply that the $1 Trillion spent on AI is focused on tech that cannot truly automate complex tasks, and that vendors’ over-focus on “human-like features” will miss the boat in delivering business productivity. (He studies stocks, not the economy.)
And Goldman Sachs Global Economist, who is a fan, estimates that AI could automate 25% of work tasks and raise US productivity by 9T and GDP by 6.1% over the next decade. He follows the traditional business meme that “AI changes everything” for the better.
What’s going on? Quite simply this new technology is very expensive to build, so we’re all unsure where the payoffs will be.
Buyers Are Looking For A Return Soon
If we discount the work going on at Google, Meta, Perplexity, and Microsoft to build AI-based search businesses, which make money on advertising (Zuckerberg essentially just said that in a few years AI will guarantee your ad spend pays off), corporate IT managers are asking questions.
An article in Business Insider pointed to a large Pharma company that cancelled their Microsoft Copilot licenses because the tool was not adding any significant value (Chevron’s CIO was quoted similarly in The Information).
Another quoted a Chief Marketing Officer who stated Google Gemini’s email marketing tool and the new AI-powered ad-buying tool performed worse than the human workers it was intended to replace (or support).
Given that these tools almost double the “price per user” for the productivity suites, I think it’s fair that CIOs, CMOs, to expect them to pay for themselves fairly quickly.
What’s Going On? The Big Wins Will Be Domain Specific
As with all new technologies that enter the market quickly, “the blush on the rose” is over. We’ve been dazzled by the power of ChatGPT and now we’re searching for real solutions to problems. And unlike the internet, where research was funded by the government, there’s going to be a lag (and some risk) between the trillions we spend and the trillions we save.
Given that ChatGPT is less than two years old and OpenAI has morphed from a research company into a product company, it’s easy to see what’s happening. Every vendor and tool provider is narrowing its AI “strategy” and not just pasting little AI “stars” on their websites, looking for useful things to do. And this process may take a few years.
In the world of HR, I think we can all agree that a “push the button job description generator” is a bit of a commodity. However if the AI analyzes the job title, identifies the skills needed through a large skills engine, and tunes the job description by company size, industry, and role, then it’s a fantastic solution. (Galileo does this, as does SeekOut, SAP, and some other vendors.)
The more “specific” and “narrow” the AI is, the more useful it becomes. Generic LLMs that aren’t highly trained, optimized, and tuned to your company, business, and job are simply not going to command high prices. So while we all thought ChatGPT was Nirvana, we’re now figuring out that highly specialized solutions are the answer.
Let me give you some examples.
The first is the platform built by Paradox, a pioneering company that started work on AI-based recruiting agents in 2016. Paradox, now valued at around $2 Billion, delivers an end-to-end recruitment platform that automates the entire process of candidate marketing, candidate experience, assessment, selection, interview scheduling, hiring, and onboarding. Most people believe its a “Chatbot” but in reality it’s an AI-powered end-to-end system that radically simplifies and speeds the recruitment process in a groundbreaking way. Companies like 7-11, FedEx, GM, and others see massive improvements in operational efficiency and both candidates, managers, and recruiter adore it. It took Paradox eight years to build this level of integrated solution.
The second is our platform Galileo. Galileo, which is now licensed by more than 10,000 HR professionals, is a highly tuned AI agent specifically designed to help HR professionals (leaders, business partners, consultants, recruiters, and other roles) do the “complex work” HR professionals do. It’s not a generic LLM: it’s a highly specialized solution designed specifically for HR professionals, and we’ve added specialized content partners and are building special integrations with other HR platforms. Our clients tell us it’s saving them 1-2 hours a day.
The third is the platform HiredScore, that was recently acquired by Workday. Founded in 2012, the HiredScore team built tools to help identify “fit” between individuals and jobs, and tuned its AI to be highly explainable, unbiased, and very easy to use. It took Athena Karp and the team a few years to nail down the use-cases and user interface but now HiredScore is considered one of the most powerful recruitment “orchestration” tools in the market, and is also used for internal hiring and many other applications. Every customer I talk with tells me it’s essential and saves them months of manual, error-prone effort.
The fourth is the platform Eightfold, which was invented in 2016 as a way to build “Google-scale” matching between job seekers and jobs. Through many years of engineering, product management, and ongoing sales process the company has become the leader in a new space called “Talent Intelligence,” now a billion dollar rapid-growing category. The company is about ten years old and now has some of the world’s largest companies building their hiring, career management, and talent management processes using AI. Companies like EY, Bayer, and Chevron now use it for all their strategic talent programs.
Each of these vendors, including others like Gloat, Sana, Arist, Lightcast, Draup, Uplimit, Firstup, and hundreds of others have patiently taken the power of Generative AI and applied it with laser precision to their solutions. Each of these companies is different, and as we work with them we see lightning bolts of innovation: not in AI itself, but in finding new ways to solve problems and do what I call “crawling up the value curve.”
This is the path for AI in the coming years. As with all new technologies, the “trough of disappointment” is always followed by the “bowling pin” of hitting the nail on the head. Innovators, entrepreneurs, and startup founders are the ones who will take GenAI and apply it in unique ways to solve problems. And soon enough, “AI-powered” will be a phrase we barely even need to say.
The Best Solutions Will Be Narrow Not Wide
GenAI solutions require a large “platform” of data, infrastructure, and software. That alone is not where the value resides. Rather, the big productivity advantages come after years of effort, focusing the data sets and working with customers to find the features, UI designs, and data sets that add enormous value. And we are still in the early stages.
If you want to learn more about HR Technology and AI, join me at the HR Technology Conference on September 24-25 in Vegas, or at Unleash in Paris in October 16-17. While I can’t predict who will win the core AI platform game (Microsoft, OpenAI, Google, Meta, Amazon will fight it out), I can predicts this: Generative AI will deliver massive improvements in business productivity. You just have to shop around a bit and wait for just the right solutions to arrive.
Recruitment
2024年08月10日
Recruitment
2024年组织中人力资源部门的21个关键角色-来自AIHR
组织中人力资源部门的21个关键角色，分为“关键角色”、“合规角色”和“新兴角色”三个部分，如下所示：
关键角色
吸引候选人：开发和执行策略以吸引合适的候选人。
选择候选人：从众多申请者中挑选出最适合的候选人。
内部和外部招聘：内部晋升和外部招聘的管理。
绩效评估：对员工的工作表现进行评估。
薪酬：设计和实施薪酬策略。
员工福利管理：设计和管理员工福利计划。
学习与发展：确保员工技能与组织需求保持一致。
合规角色
晋升：晋升机制的设计与实施。
问题解决小组：创建和管理解决问题的小组。
全面质量管理（TQM）：实施全面质量管理以提高服务或产品质量。
信息共享：确保重要信息能够及时传达给所有员工。
组织发展：通过战略性的人力资源管理提升组织效能。
调查管理：管理各种员工调查，收集反馈以改进工作环境。
合规管理：确保公司遵守所有相关法律和规章制度。
商业合作伙伴：HR作为管理层的战略合作伙伴，提供人力资源解决方案。
新兴角色
数据与分析管理：使用数据分析来支持决策过程。
人力资源技术管理：管理和优化HR相关的技术和系统。
变更管理：领导和管理组织变更。
员工体验：设计和改进员工的整体工作体验。
多元化、公平、包容和归属感（DEIB）：推广和实施多元化和包容性策略。
公关：管理公司的公共形象和应对公关危机。
原文来自：https://www.aihr.com/blog/human-resources-roles/
Attracting candidates, Selecting candidates, Hiring from within and from outside, Performance appraisals, Compensation, Employee benefit management, Learning & development, Promotions, Problem-solving groups, Total quality management (TQM), Information sharing, Organizational development, Survey management, Compliance management, Business partnering, Data & analytics management, HR technology management, Change management, Employee experience, DEIB, PR
吸引候选人、选择候选人、内部和外部招聘、绩效评估、薪酬、员工福利管理、学习与发展、晋升、问题解决小组、全面质量管理 (TQM)、信息共享、组织发展、调查管理、合规管理、业务合作、数据与分析管理、人力资源技术管理、变革管理、员工体验、DEIB、公共关系
Recruitment
2024年05月12日
Recruitment
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!
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