“It’s fitting that 2012 is a leap year, since a number of converging market trends are driving HR organizations to make significant leaps in capabilities and performance. HR faces a critical, dual imperative in 2012 — a focus on enabling both their organization’s overall growth agenda and on driving efficiency in the business of HR. This dual focus demands decisive action as the stakes are greater than ever” write Deloitte in the report Human Capital Trends 2012 – Leap ahead.
The top eight human capital trends outlined in the report include:
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In 2012 growth is job number 1
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Operation globalization
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Fast-track to the top
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People risk is risky business
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Seeing around corners
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Using full potential of social media and mobile devices
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Clouds in the forecast
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Stay in front with an effective sales force.
Excerpts by Job Market Monitor
Growth is the top priority for many CEOs in 2012. To make it happen, HR is boosting its capabilities in three key areas.
- Emerging markets. Developing economies have long been viewed as a source of cheap labor. Now, they are also being tapped for higher-value skills, such as research and development (R&D), knowledge processing, and advanced analytics. At the same time, their rapid economic growth presents new revenue opportunities by creating a new class of consumers with money to spend and an unquenched thirst for the latest goods and services.
- Mergers and acquisitions. M&A can be one of the fastest ways to grow revenue and market share. It can also help a company expand its strategic capabilities. For example, a large technology company might acquire a smaller firm in order to fill a gap in its R&D pipeline or product portfolio. Similarly, a company looking to enter an emerging market might use an acquisition or joint venture to establish an immediate local presence.
- Innovation. Many companies define innovation too narrowly, placing all of their bets on a specific team of people and the products they develop. In contrast, today’s innovation leaders are defining innovation broadly to include services, processes, business models, communication, and cost structure improvements across the enterprise. HR can help by aligning people-related factors, such as leadership, capabilities, processes, technology, and organizational structures, around innovation to foster a more innovative organization and culture.
Many companies are shifting to globally integrated operating models, where the home country is just one of many markets.
As many companies make the leap to global operating models, they are rethinking virtually every aspect of their operations, including how work gets done, who does it, where people are located, and how they should be organized. This metamorphosis is happening right before our eyes — and it is likely to continue, with or without HR’s help.
Many leading HR organizations are playing a number of important roles in this transformation process. In particular, they are ratcheting up their capabilities and involvement in three areas.
- Designing global operating models
- Managing global talent
- Leading change — everywhere.
Developing the next generation of leaders to drive future growth : Fast-track to the top
Accelerating the development of next-generation leaders requires an integrated approach. Individual programs that are not coordinated send mixed messages and often work at cross-purposes — which can slow down development and increase retention risk. Top companies are taking several steps to accelerate leadership development.
- Aligning leadership strategy with business strategy
- Determining leadership potential using predictive, hard
- data
- Requiring dual ownership of development
- Balancing the “three Es“ (Experience, Exposure, Education)
- Avoiding mixed messages
- Measuring what matters.
In a world of black swans and growing uncertainty, HR’s role in managing enterprise risk is expanding.
As risk rises to the top of the corporate agenda, HR organizations are adjusting their own priorities accordingly.
- Taking the lead on managing human capital risks
- Changing how HR works with the business
- Preparing for broad risk discussions
- Collaborating with the Risk Management function
- Creating a risk mind-set for day-to-day HR activities
- Making the most of existing data
- Understanding the risk impact of HR changes
- Recognizing the importance of aligned incentive
- compensation programs
- Helping to transform risk management
Advanced tools are turning workforce data into powerful insights that help businesses navigate uncertainty
Many leading companies are using workforce reporting and analytics to help make better, more informed decisions about their human capital. By capitalizing on the latest analytical tools and techniques, they are improving acquisition, retention, and rewards; reducing labor costs; improving productivity and employee effectiveness; and managing risk more effectively.
Here are some examples of specific areas where workforce reporting and analytics are having a major impact:
- Forward-looking workforce planning
- Managing talent acquisition
- Workforce performance
- Diversity effectiveness
- Talent potential and progression
- Proactive retention.
Social media and mobile devices are raising the bar on HR service delivery
The gauntlet has been thrown down. If HR does not adapt, it may become obsolete. Fortunately, social media and mobile devices are sparking numerous opportunities
for HR to remain relevant.
- Social and mobile technologies can reinvigorate personalized HR service
- HR service centers can evolve into communities
- HR portals are morphing into social platforms
- Traditional forms of HR service delivery are still needed.
Cloud services are changing the way business operates, and HR has a key role in helping organizations adapt
Cloud computing is changing the way people and businesses work, upending conventional ideas about timeto-value, service levels, infrastructure needs, and more.
With cloud, systems and data are typically located outside of an organization’s four walls and accessed through the Internet. This has fundamental impacts on many parts of the business, transforming the nature of work and accelerating the pace of change across the enterprise.
As more and more businesses adopt cloud services, leading HR organizations are taking the lead in addressing the many people and talent impacts of moving to cloud.
A multichannel environment is creating the need for a different kind of sales force
The classic image of a sales rep is a one-man army drumming up business through a combination of personal charm, inside information, guile, chutzpah, and singleminded determination. But that’s not how most sales battles are won these days.
The sales force is evolving toward an intelligent network, where team selling across multiple channels and customer segments is driven by advanced analytics and deep insights about customer preferences. Increased selling sophistication remains a priority, but its impact is enhanced by harnessing the entrepreneurship, insight, and
networking capabilities of the team in the field.
- Different talent for a different way of selling
- New skills and competencies
- New organizational structures that foster collaboration
- Rewards and incentives that drive the desired behaviors
- Governance that balances control and flexibility
- Stronger integration across channels and functions
- Effective sales management
- Overcoming resistance to change
Source:
Read More @ Human Capital Trends 2012 – Leap Ahead
Job Market Monitor 
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