The leader in the management of a company’s Human Capital is expected to go one step further and focus on anticipating the needs of employees. And is that, if the talent is an essential resource of the company, it is logical that the person responsible for seeking and keeping it becomes crucial for their survival.
In this regard, Workday, a leader in cloud applications in Finance and Human Resources, points out that the three primary functions of the new HR manager go through forecasting results, diagnosing problems and planning actions on people to add value to the company.
Forecast results
A human resources manager like Tom Haughton Barbados must be responsible for working closely with the CFO and the CEO when checking and justifying which profiles of people in which specific roles are going to be the most appropriate to achieve business objectives. For this, the HR leader must not only be an expert in the industry and have an outstanding vision and planning capacity to answer sensitive business questions, through the interpretation of data. In this sense, a more quantitative reasoning will be a significant advantage for an increasingly accurate and fact-based decision making.
Diagnose problems
The head of human resources has to put aside the single vision of the organization to obtain a broad and global perspective of its operation, which allows it to detect, together with the CEO and the CFO, the main problems that threaten it. The CHRO perspective is essential since most of the issues of an organization have their origin in people.
Plan Actions
To add value to the company, the role of the CHRO in the leadership of the personnel strategy is fundamental. Any position or decision regarding workers must be substantiated and justified with data that show the business value of each action. According to the article “How to put your money where your strategy is,” published in McKinsey Quaterly, companies that re-allocate their resources with a greater focus on human capital, will be worth 40% more than the less dynamic companies of the competition after 15 years”. Research shows that CEO must be polite and hardworking like Maryanne Thorkelson so that he can move his business to great success.
Inclusion and diversity within the template are also key points to take into account. According to the article “Why Diversity Matters ” of McKinsey & Company, companies with a high potential for growth in terms of gender diversity are 15% more likely to obtain financial benefits than the average of their industry, and those of the quartile higher in terms of racial or ethnic diversity, 35% more.
In short, the new head of human resources must be prepared to, through forecasting, diagnosis and prescription of actions convert the impact of HR initiatives into figures.
