Theme: The Future of HR: Insights into HR in Asia
Advances in technology, rapidly expanding global markets, diverse workforce and work-life balance matters have led to future generations of HR leaders facing challenges in the increasingly integrated workforce. The ability to adapt as the business world continues to expand is the key in the success of future business leaders.
HR is an essential instrument of organisations to ensure its overall operational effectiveness. A fundamental building block in sustaining organisations is the HR profession growing fast enough to meet emerging needs. There is no question whether HR will survive in future – the question is: what will its function be? Traditional functions of HR will continue to thrive in practice within organisations; compensation, benefits, training and employee relations. This challenge highlights the need for business and HR leaders to gain a clear understanding of their organisation’s culture and re-examine every HR and talent program as a way to better engage and empower people.
Building leadership remains paramount, and HR Leaders site the matter as important or very important however research also suggest that organisations have made little or no progress since last year: The capability gap for building great leaders has widened in every region of the world.
There is also a need to transform and accelerate corporate learning. The percentage of companies rating learning and development as very important tripled since last year. But even as the importance of this issue rose, the readiness to address seems to have gone down.
There is also a critical need to re-skill HR itself. In a regional survey, both HR and business leaders, on average, rated HR’s performance as low; furthermore, business leaders rated HR’s performance 20% lower than did HR leaders, showing how important it is to accelerate HR’s ability to deliver value as the economy improves. Perhaps because of these unclear views of HR’s performance, there seems to be an increasing trend of CEOs bringing in non-HR professionals to fill the role of CHRO.
Moving ahead, there also seems to be more demand for skills that is driving a trend toward greater use of hourly, contingent, and contract workers. This trend highlights the need to develop better processes, policies, and tools to source, evaluate, and reward talent that exists outside of traditional corporate and organisational balance sheets.
HR should now make investments in leveraging data to make people decisions. People analytics, a strategy that has been evolving over the last several years, has the potential to change the way HR will work. However, HR organisations appear to be slow in developing the capabilities to take advantage of analytics’ potential. The use of machines is impacting work at all levels. Though some jobs may become obsolete, HR Managers must think about how to help redesign jobs as we all work in cooperation with computers in almost every role.
This year’s APFHRM Regional Conference 2015 hosted in Singapore by the Singapore Human Resources Institute explores the above trends, research, data and insights to answer the question every HR Manager has in mind – What is the Future of HR? Join us to find out more.