At a quick catch up session, Vernon shared some of his thoughts on the direction of HR and these are the key takeaways off the top-of-his-head.
1. Trends in the world of HR
There are cycles organisations want help in. In the last few years, we have seen a spike in assessments and rewards work followed by a tapering off this year. We also see employee engagement gaining traction again though it is now repositioned as employee experience by most consulting organisations. In addition to the employee experience, we see more and more organisations focusing on employer branding which complements with employee experience.
2. Challenges in today’s HR worldThe biggest challenge for most organisations today is how can they optimise their investments in their people. We have seen cost cutting measures being implemented in a lot of organisations. This year in particular has seen massive cuts in human capital budgets. For example, HSBC recently announced their plan to cut 10,000 jobs worldwide in order to focus on “high-paid” roles 1 . What this goes to show is that leaders want to ensure they get the best ROI from their investment in their people. This means investing adequately in their identified talents. But what about the rest of the organisation? How are they measuring their ROI for every individual in the organisation? That’s the million dollar question as most leaders aren’t quite sure what to do.
3. Assessing the talents and why it is importantMost organisations are already doing the right thing where leaders and identified talents are concerned. In fact, many organisations utilise psychometric assessments, together with other internal measurements, to help leaders and identified talents discover their strengths and derailers. Now, imagine if these assessments were conducted across the organisation, laterally and vertically. Imagine the possibilities of what these assessments can unlock and the rich data that emerges from these assessments. HR can then focus on implementing solutions to address some of the more pertinent talent gaps in the organisation.
4. The best time to kick-off an assessmentA good start would be to extend the assessment to middle management first. They are the link to the rest of the organisation and are often the ones who feel most pressured. They need to manage upwards and manage their teams.
5. What organisations can do more in optimising their human capitalMost leaders don’t appreciate the value of psychometric assessments as some leaders feel that an assessment is “a nice to have measurement tool” and something that “they have to do” because they have been told to do it. Some leaders fail to see how assessments are key to revealing employee happiness and readiness for the next level. And if leaders are not cognizant of their own shortcomings, or they do not have a pulse on the sentiments of their people, it could lead to disengaged employees, loss of trust, followed by lower productivity and high cost of attrition.
Successful leaders are more aware of how their management styles impact their teams. The best leaders are the ones who are mindful of their own shortcomings, yet are agile enough to adapt and change their management style. This is where the Harrison Assessment tool comes in handy and provides invaluable insights. The Harrison Assessment Paradox is such a powerful tool for leaders to understand behavioural traits of themselves and their teams. It allows leaders to capitalise on the opportunity to adjust their management style according to the dynamics of their teams from a team level and also at an individual level. Furthermore, the insights obtained from an assessment can reveal the type of behavioural competencies that will allow for the organisation to identify future leaders. There is so much information that can come from doing an assessment which organisations should make use of to optimise their human capital from talent acquisition, engagement, developing talent to succession planning.