Deloitte: Transforming HR can be a vital key to driving value at organizations

Human Resources functions that focus more on the external factors that help create and drive value within organizations, such as mergers and acquisitions, compliance issues, and an unprecedented talent shortage, can have a greater role and impact on the overall performance of the organizations they serve, according to a new point of view from Deloitte Consulting LLP.

Deloitte Consulting's "HR That Means Business: Focusing on Value Creation" is a new and provocative perspective that explores how CHROs can employ "next generation HR transformation" principles to help shift focus from internal operations to improving overall company performance and addressing strategic business challenges that will likely define the future of HR, such as:

-- Sustained growth (merger integration, new market entry)

-- The global labor shortage (workforce planning, talent management, global mobility)

-- Risk and compliance (global workforce security, regulatory compliance, governance); and

-- Future market capabilities (change management, global program management).

Deloitte Consulting believes that traditional HR transformation initiatives, which have tended to concentrate inside the function to improve efficiency through technology and process engineering, will be increasingly inadequate in today's marketplace.

"Attaining operational efficiency in HR will continue to be a necessary part of the HR function, but that's simply playing catch up," explains Beth Thiebault, principal with Deloitte Consulting and leader of its HR Transformation service line. "Most effective companies have achieved 'next generation HR transformation' and have HR leaders working shoulder-to-shoulder with the C-suite on critical strategic challenges like new market entry, acquiring and retaining the right talent, and mergers and acquisitions. Companies that revolutionize the HR function and engage the CHRO as a key member of the C-suite can find themselves at a distinct competitive advantage."


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