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Hr is conducting too many initiatives with mediocre

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Unformatted text preview: ning ◊ Providing shared services and outsourcing HR ◊ Managing diversity and inclusion ◊ Managing demographics ◊ Managing globalization Poorly managed ◊ Improving leadership development ◊ Restructuring the organization ◊ Managing talent ◊ Enhancing employee engagement ◊ Measuring workforce performance ◊ Managing labor costs ◊ Improving performance management and rewards Number of projects undertaken is below average Number of projects undertaken is above average The five most frequent HR projects Sources: Proprietary Web survey with 5,561 responses; BCG/WFPMA analysis. C P A High-performing companies are noteworthy for their persistence with appropriate projects. Even when they rank high in a certain capability, high performers continue to undertake projects to improve further. Excellence in talent management, it seems, entails continual experimentation and refinement. low and high performers that we noted earlier for the same topic, despite the topic’s relatively high importance. Projects pertaining to transforming HR into a strategic partner and improving employer branding were also much less important to low performers than to high performers. Exhibit 7. Three High-Priority Projects of High-Performing Companies Are Neglected by Low Performers Top ten HR projects of high-performing companies Low-performing companies rank five HR projects lower than high performers do 1 Improving leadership development –1 2 Managing talent –1 3 Restructuring the organization 4 Delivering on recruiting 5 Measuring workforce performance 6 Enhancing employee engagement 7 Managing labor costs 0 8 Improving performance management and rewards 0 9 Transforming HR into a strategic partner –4 10 Improving employer branding –4 2 0 –5 1 –5 –4 –3 –2 –1 0 1 2 3 4 5 Number of ranks different from high performers Sources: Proprietary Web survey with 5,561 responses; BCG/WFPMA analysis. T B C G • W F P M A Do You Have the Right Future Leaders? T he leadership pipeline can be a resource for growth or a bottleneck. Fiy-six percent of survey respondents cited a critical talent gap for senior managers’ successors, in part because their internal talent pools are too shallow. Highpotential employees have many options, so companies must adapt their leadership-development programs in order to retain and motivate the best and the brightest inside the organization—including women, who tend to be underrepresented in talent pools. Companies should augment their training curricula and job assignments to foster the critical skills of formulating and executing strategy, navigating complex markets, and attending to a diverse set of stakeholders. ◊ Building a larger, stronger pipeline of future senior executives by balancing the talent available from internal pools with the targeted new capabilities that can be acquired through external recruitment Corporate leaders today must be comfortable navigating a more complex and fast-changing busin...
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