A Creative Human Capital Strategy – The Competitive Advantage
by Bob Gershberg, CEO/Managing Partner Wray Executive Search
The complex challenges we face in the business arena today require innovative human capital strategies and frankly a major realignment of focus on the part of our human resource professionals. HR functions, capabilities and competencies need to be tightly correlative to the critical business priorities of the company. Traditionally, the methodologies and metrics used to measure success in other disciplines escape the norms of the profession. The accepted model mired in compliance needs to morph into a function in which business results are pivotal and cross-functional forces are convergent.
The top challenges of human resource management include change management, leadership development, and HR effectiveness. Additional challenges of human resource management include recruiting qualified talent, retaining and rewarding top employees, and creating a corporate environment that attracts employees.
In order to contend with these issues and gain competitive advantage we need to develop a clear human resource strategy that incorporates leadership, training, and development. The strategy must incorporate knowledge from the past, present and future. Utilize metrics to determine effectiveness. Consider implementing surveys, ratings, and rankings in order to get important feedback from your employees. Focus on individuals. Individuals should be evaluated on their current contributions as well as their cooperation and collaboration skills. Employee engagement is nurtured by encouraging employees to develop skills that contribute to the firm's long-term goals.
Spiraling commodity costs and high energy costs will pale in comparison to the human capital challenges we face if we don’t act to create and execute effective strategy. Skill deficits, mature economies and an aging population will compound these obstacles. It is imperative that we redesign our work-force related practices to better compete in the ever-changing global economy.
In an industry renowned for exceeding expectations, we are well advised to recognize and understand the shift in individual employee expectations. Flexibility and customized career alternatives are crucial in attracting and retaining a diverse workforce just as marketing caters to differing customer segments. Train toward organizational and team capabilities as the road to success.
When exceptional talent appears – hire it!
All the best,
Bob Gershberg |CEO|Managing Partner|
(888) 875-9993 ext 102
Finding tomorrow’s leaders today!
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