How companies need to make human resources a competitive advantage
“Why did we fall behind when the world around us evolved?” That’s the question that Nokia CEO Stephen Elop asked in his now famous brutally honest email to Nokia staff in 2011, before announcing major cuts the next day.
In the same memo Elop said, “I believe we have lacked accountability and leadership to align and direct the company through these disruptive times. We had a series of misses. We haven’t been delivering innovation fast enough. We’re not collaborating internally.”
For every international business, the stakes are high. Today, many global companies are embarking on their own new journey, coming out of recession and setting sails for growth once again. However, management and HR leaders know that the game has changed and, if anything, there is even more uncertainty to manage.
More and more today, business leaders are concluding that competency in human resources is a core requirement for success. Are your human resources ready and able to answer key questions like the following?
• Do you need radical change or will you move forward with incremental adjustments?
• Will you rock the boat today and add more uncertainty to your strategy, or should you wait until things are more settled?
• Is it less risky to mitigate the uncertainty of large and complex organizational changes, or the potential downside of the status quo?
• Does your future business need new skills and competences, or are you comfortable with the talent that you have today?
Businesses need to answer these questions and increasingly, Human Resources play a key role in doing this. Suddenly, Human Resource performance is positioned to influence the overall business performance of a company. HR leaders find themselves under heavy pressure, which calls for new skills, competencies and profiles across the practice. There is also a special focus on HR Senior Management in charge of driving organizational changes medium and long term.
What human resources abilities and competencies need to be in place within your company and what should HR leaders be doing to support those competencies?
Here’s a list of competencies developed by Stanton Chase based on research and client interviews around the world.