FISSING HR Strategy and Benchmarking Meeting

FISSING HR Strategy and Benchmarking Meeting

"Don’t go Naked into the Board Room"

Intellectual capital drives an organisation forward – and  human capital is its key component.  Or is it?

Three questions:

1. why do good measures of human capital drive organisations in the wrong direction of change?
2. why are profit per employee and added value per employee completely misleading indicators of performance?
3. why is social capital a much better predictor of future organisational capability than organisational or human capital?

The meeting introduced better measures of organisational, employee and HR department performance. 

HR Strategy Research and Benchmarking Club Meeting

The Foundation of Human Capital Strategy

 This meeting underpinned the foundations of a new practice – that of the management of investment in human capital. 

As rapid and diverse business innovation meets up with employment regulation, each day seems to bring compromise and contradiction, paradox and paranoia.  The essential support for organising, resourcing, managing, developing and communicating with our most precious asset - our people - suffers.  This makes us feel that the value of human resource practice is brought into question.  But that is far from the truth. 

The HR practitioner is the new provider of capital.  As such we must keep an eye on the external environment that affects both the business and the skill capital markets, measure returns on investment in HR programmes, and understand the day-to-day risks throughout the business, including those of neglecting the human capital.   

The Scope of the Subject Matter:

• The Human Capital paradigm as a new way of re-framing thinking and practicing.
• The domains of management that are affected.
• The opportunity and challenge in this new sphere of influence .

 An Overview of Trends, Developments, Opportunities and Risks:

• Demographics and Employment Trends;
• Technology Impacts;
• Economic, Social and Attitudinal Trends;
• Political, Educational and Legal Matters;
• Strategic Thinking;
• Developments in Management Practice;
• Social Science & Knowledge Developments;
• Implications for Skill Supply and Demand;
• Trends in HR and OD.

 From the above, we drew out the implications for:

·           National, Sector, Industry and Profession Levels

·           Firm and Organisation Specific Levels

·           Members own Organisations.

 The outcomes will become available to Benchmarking members and those attending the foundation programme.

“The Evidence for Investing in Human Capital”

In a knowledge economy practitioners must produce verifiable knowledge that their strategies, policies and processes will add value.

The purpose of this meeting was to explore how to provide the evidence.

CEOs will increasingly insist on seeing credible evidence that investment in the people domain really will create relevant value.  But what do we mean by ‘evidence’?  The starting point is a change of mind set. 

The Speakers

HR Benchmarking Meeting

The New Business Model for Human Capital Management

Speakers: Prof Andrew Mayo of Mayo Learning International, Fellow and Programme Director at the Centre for Management Development at London Business School, Associate Professor of Human Capital Management at Middlesex University Business School and John Whitehead, until very recently responsible at Lloyds TSB for the provision of executive information and intelligence required to support the delivery of people strategies and objectives.

The meeting addressed:

a)       Trends in Human Capital Management and the Changing Role of HR

b)       Differences between HR strategy and the HCM Model

c)       The emerging Agenda for Practitioners

d)       The provision of Management Information and Metrics for the Board and for HR.

HR Strategy Meeting

This meeting was invaluable to strategists because:

1. top executive thinking has shifted from an adversarial paradigm to a collaborative orientation as they embrace the need, opportunity and benefits of collaboration;
2. there is a move to use the competencies of HR Directors and their top teams more strategically by focusing on collaboration rather than competitive strategy.

HR can make a fantastic contribution to organisational capability and performance by focusing on their own natural competence.  The meeting explored the way forward via three presentations addressing different aspects of collaboration strategy:  

 -  John Doyle, Principal, ITS  – on using ‘soft’ factor assessment of the cultural ‘gaps’ that need to be addressed before major procurement decisions and when contracting and building partnerships between clients and providers.

-    Jon Tye, Head of HR Solutions, Watson Wyatt – on how HR, IT and Finance communities can collaborate effectively, for example in Shared Service Centres.

-    Gary Saunders, founder of fe₃ - on collaboration across teams for customer benefit.

The meeting covered:

•     collaboration strategy for business partnerships, outsourcing, customer service, organisation change, knowledge management, innovation, mergers & acquisitions

•     the hierarchy of collaboration and related benefits 

•     the factors for success

•     the benefits and enablers of collaboration

•     measuring effectiveness

•     the risks of ineffective collaboration

•     the systems, improvement processes and structures

•     personal orientations to collaboration in our workforces and partnering organisations

•     embedding collaborative working across disciplines, communities and organisations.

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