CareerBuilder.com Acquisitions

March 1, 2007

In a Press Release yesterday, CareerBuilder.com announced that it has acquired two leading online recruitment sites in Northern Europe. The two sites are Sweden’s Jobbguiden.se and the Netherlands’s JobbingMall.nl. This move is the company’s latest step in its international expansion. These acquisitions are supposed to add more than 1 million new job seekers to CareerBuilder’s international network. According to the terms of the agreement, the two portals will retain their existing brand names, but will be powered by CareerBuilder’s technology.
According to the company’s viewpoint, the European online recruitment market is expected to generate $1Billion in spending in 2007.
CareerBuilder.com began its international expansion in the Spring of 2006, building its presence through a combination of organic development, partnerships and acquisitions as market conditions warranted. CareerBuilder.com launched organic sites in Canada and the United Kingdom. In addition, the company forged strong partnerships in China with 51Job and in South Korea with Incruit. In India, CareerBuilder.com launched a site while maintaining a close partnership with Naukri.

HR Metrics Series I: Quality of New Hire

February 28, 2007

Quality of New hire is our fourth metric after the following three metrics (discussed in earlier posts)
1. Employee Attrition
2. Time to Fill
3. Cost per hire
The normal measurement time is taken to be 3 months for this metric and different time frames can be used but 3 months is an ideal time of measurement because the more the time to measure the quality, the higher the productivity loss to the organization for inefficient new hires.
How do we measure Quality of new hire? For measuring quality as such, organizations use various tools like six sigma, ISO etc. However, the most prudent way of measuring Quality of new hire is explained below
1. Define the core competencies (Aptitude, behavioral skills, productivity matrix etc)
2. Define the process competencies (Understanding and practice of process)
3. Measure and compare the core as well as process competencies with the benchmark performance levels
4. Determine the variance
This variance can further be analyzed to compare it with the variance levels of others and also with the minimum levels of standard variances.
This metric is considered important because selection of an inefficient candidate will impact the productivity levels of the organization directly.
To illustrate the above theory in a practical situation, an example is produced bel0w
1. Core competencies defined are A, B and C
2. Process competencies defined are alpha, beta & gamma
3. After 3 months, the candidate performance in core and process competencies is arrived as
A - 40% B - 70% C - 70%; alpha - 70% Beta - 50% Gamma - 80%. Here Core competencies score is 60% (Average core competencies score) and process competencies score is 66.67%.
4. The standard core competencies score desired for a new hire is 80% and process competencies are 75% (considered as an example case).
5. When compared to the standard scores, the scores remain unmatched to the current scores and hence the quality of new hire is not in line with the expected quality levels.

Kenexa inks deal with Airline Manufacturing Major Boeing

February 27, 2007

Kenexa, A PA based RPO provider, announced that it will provide Boeing with comprehensive workforce survey services to gather valuable employee feedback under a four-year contract.
Under the contract, Kenexa will provide instrument design, administration, reporting and analysis, behavior change recommendations and tools based on linkage research between surveys.
This contract is in line with our previous post on Workforce Analytics continuing to dominate decision making of HR capital Management.

Lawson Software To Partner With Enwinsen

February 26, 2007

Lawson software is partnering with Enwinsen to integrate On Demand Workforce Communications with its proprietary ERP Lawson HCM suite, reports Businesswire. The integration is expected to provide the users of Lawson HCM suite with an enhanced experience through integration of HR transactions and in-context communications and decision support. This new partnership is also expected to improve the effectiveness of workforce applications an effectively manage compliance and company procedures.

Workforce Analytics - Data driven Decision making in HR

February 26, 2007

Technology combined with new brains in HR is turning the face of HR day by day. “Embrace Change” is the key for a successful HR management today. One such example is the deployment of Analytics in HR Management to make decisions on workforce supported by data and the current intuition mechanism is being quickly replaced by these analytics. One reason for this change is that talent is considered a commodity these days, demanding an expensive price.
So, what does this Analytics mean? Analytics means deployment of statistical techniques and methods like regression, correlation analysis, collect data, analyze the same. Most companies found Analytics useful in four areas
1. Skill Requirement Assessments
2. Workforce availability and deployment
3. Measuring Performance
4. Making employee transition decisions such as terminations, transfers and promotions.
Analytics gives an ability to make predictive correlations between HR metrics and the business outcomes that they are expected to achieve. Most HR professionals are not yet compliant to this new change and slowly this is expected to be a necessity in HR Management.

HR Metrics Series I: Cost Per Hire

February 23, 2007

In our current series on HR metrics, Employee Attrition and Time to Fill are covered in previous entries. In this edition, Another Key metric, Cost Per Hire, will be discussed.
Cost Per Hire defined:
Cost per hire in an organization is the sum of total direct and indirect costs incurred on each new hire starting from sourcing the candidate and ending with placing the candidate on live production within a given time frame.
Direct costs (Per Hire):
Direct costs are those costs that could be allocated direct to each new hire. Some of these costs are listed below
1. Recruiter costs
2. Employee Relocation expenses
3. Referral costs
Agency costs (background checks etc)
Indirect costs: All those costs other than Direct costs which cannot be allocated per hire basis. These costs have to be allocated on a pro-rata basis per each hire. Some of the indirect costs are listed below.
1. Training costs
2. Advertising costs
Formula for Measurement of Cost Per Hire:
Total Direct costs + Total Indirect costs / No of New hires for Time ?T?
The Time “T” stands for any period of time, say, 1 month, 3 months, 6 months or 1 year.
Advantages
Cost Per hire plays a vital role in making decisions on the level of performance of Recruiters department Moreover, the lesser the per hire costs, the higher is productivity.
Related Posts:

Widespread HRO Acquisitions

February 21, 2007

In the Year 2006, we have experienced nearly 60 odd acquisitions in the HRO industry. In an otherwise slower than expected HRO growth experienced in 2006, we begin to wonder, why has Top HRO providers started looking for more acquisitions?
The HRO industry as such has very limited players who offer end-to-end outsourcing. Each provider specializes in specific processes which makes it vulnerable on the part of HRO buyers to opt for several providers instead of one single provider. This results in HRO buyers scouting for providers who can provide them with an end-to-end outsourcing solutions, not just restricted to a select service choice. This is a prudent choice because one can make a good bargain for a whole lot rather than a small bunch of service. Realizing this shift, many HRO providers started looking for ways to consolidate themselves in end-to-end HRO services. This trend shift finally resulted in choosing acquisition path by HRO providers. This consolidation is already started and has been underway since 2006. One such example is the ADP acquisition of VirtualEdge, a recruiting and talent management firm, and Employease, a web-based HR provider.

Gevity Acquisition of HRAmerica

February 20, 2007

Gevity HR, a premier HRO provider acquired HRAmerica Inc for $10million, an all-cash deal that includes a payment of $0.5million for a small number of co-employed HRAmerica clients, which is subject to state regulatory approval. This acquisition should provide Gevity with scalable technology to enhance its non co-employment model, Gevity Edge Select.
Interestingly, in January HRAmerica Inc and Caliber Point, a subsidiary of Hexaware Technologies, announced a strategic partnership with respect to HRO services. It is unknown how this acquisition of HRAmerica by Gevity HR will impact the partnership with Indian partner, Caliber Point.
Related Post on HRO MANAGER:

Indian Companies To Receive HR Software

February 19, 2007

It is reported by The Financial Express, a leading business newspaper in India, that TCS and SAP entered into a pact to provide HR and payroll software solutions “on the fly” to government, public and private companies.
Under the terms of the pact, SAP would provide its HRMS solution to be hosted on TCS servers. Clients who are not willing to buy software but ready to pay as per their use can actually avail this service. “This is more suitable for small and medium sized businesses whose cost of ownership of software comes down tremendously due to third party hosting of the software”, says Nagaraj L.Bhargava, VP of Marketing and Sales Operations, SAP India.
When I read this news, the one point that struck me was wondering what would be the fate of third party companies who offer the same services to their clients purchasing this software. When SAP itself wants to enter the market through its software indirectly, it seems an indirect competition to its buyers itself. This is because some buyers might actually be third party HR providers who buy this software investing millions of dollars.
This is an interesting development in India, where one domestic technology company developed an E-HRMS solution marketing it to other companies initially. One fine day it started approaching those companies who are using its software, but through a third party outsourcing company. This caused the third party provider to loose many quality clients. As a result, the third party provider lost their business. Is this the ways that a software development company selling its product should view themselves as competition?

Watson Wyatt HR Practices Review

February 19, 2007

Watson Wyatt worldwide, reviewing HR practices at 50 large US companies, finds meaningful hiring and orientation programs as key to long term success of any organization. An organization expert at Watson Wyatt shares that companies often overlook hiring and orientation programs as prime opportunities to reinforce corporate goals and motivate employees. In its review, Watson Wyatt found significant differences in financial performances and employee engagement between companies that focus on the details of hiring and orientation process and those that don’t. Its studies have shown that building engagement in employees and establishing an efficient recruiting process are tied to financial performance. For a typical S&P 500 organization a significant improvement in employee engagement is associated with a $95 million increase in revenue. In addition, it also finds that those firms that are able to fill the vacancies quickly have financially outperformed those that take longer time.

Equifax Acquiring TALX Corporation

February 17, 2007

Atlanta based Equifax is acquiring TALX corporation for $1.4 billion, reports HRO Today. This acquisition once completed, would be the single larget acquisition happening in HRO space.
For a complete news you can view the article in its entirety at HRO Today.

ACS signs HR BPO Contract

February 13, 2007

Affiliated Computer Services(ACS), a premier business process outsourcing company and information technology solutions company, announced today it has been awarded a $171 million contract with Glaxo SmithKline (GSK) to provide HR BPO services. The contract term is 10 years.
Under the contract, ACS would consolidate various processes of GSK outsourced to a variety of providers or within GSK.

HR Metrics Series I - Time to Fill

February 12, 2007

Having discussed Employee Attrition as a Key HR metric in our earlier post, let us now shift the focus to another key HR metric - Time to Fill.
Time to Fill is a metric applicable to measuring the performance levels of an HR department as a whole, RPO company as a whole, recruiter or an HR generalist.
Time to Fill is defined as the average time taken to fill an available open position in a company. It starts when a line manager puts a requirement order with HR and ends with the time when the position is actually filled.
Having this metric offers several advantages.
1. It helps HR by giving information on the exact time frame for filling a position which in turn helps the line managers in resources planning
2. It helps defining SLA between a company and an RPO
3. It helps in benchmarking performance of HR executives (recruitment)
4. It helps in increasing the productivity
Defining a standard Time to Fill for each position and for each department and thereby comparing the actual Time to Fill for the said positions will give a trend line. This metric plays a vital role when an organization is on a massive recruitment drive.
Related Posts:
HR Metrics Series I - Employee Attrition

Uniform Metrics Buzz in HRO Industry

February 11, 2007

In a recent article posted on Workforce Management, it was that that a working group set up by four HRO companies has created a way to standardize a SOW (Statement of Work) - the outline that is the basis of an outsourcing agreement. Buyers would be able to see the pricing and performance indicators for each of those prospective providers on a single sheet of paper.
The background for this decision is that different HRO providers have different ways of defining the HRO terms. There are various buyers who would need an extensive education to understand them. It takes months in some cases to actually make the buyers understand. To overcome this challenge four companies, Accenture HR Services, EquaTerra, SAP and Arinso have agreed to bring uniform metrics on a single sheet so that a buyer can actually compare the pricing structures simply by looking at the paper, without any extensive understanding of HRO in general. These providers say that they gain on reduction in sales time by implementing this strategy.
It is not yet clear however, how this actually meets the intended objectives. This strategy, if found successful, may be implemented by many other companies in the future.

HR Metrics Series I - Employee Attrition

February 9, 2007

In this post we would like to discuss one of the key HR metrics - Employee Attrition. We will discuss this metric on 2 dimensions:
1. Measurement
2. Studying the Operational Impact on Account of Turnover
Before we head into the discussion, let’s first understand what Employee Turnover means. Employee Turnover can be defined as the number of separations divided by the total headcount. This is a volatile factor. The higher the Turnover, the lower the productivity. The lower the Turnover, the higher the productivity. However, separations due to operational constraints are not considered for Turnover as a metric in determining HR performance. Say for example a company realizes that its branch in a particular location is not giving them the desired returns. The company may want to close that branch. The separations resulting from this decision do not constitute the Turnover. The number of separations and replacements as a whole constitutes the HR transactions. The costs that are associated with Turnover are termed as Turnover costs.
Measurement
Turnover = Number of separations / Total headcount
Utilization = Total headcount / Absolute Employee count
Cost = Number of HR Transactions * Cost per Transaction
* Headcount here in this post reflects the actual workforce required to do the job in question.
Does this have an impact on Operational Efficiency or just a pure HR metric? Turnover does have an absolute impact on operational efficiency. The more an employee stays with the company, the more the productivity is boosted by the factor of experience addition. The more the turnover, the more is the Time to hire, the more is the Time-to -be-competent, the lesser is the operational efficiency.
Hence Measuring & Monitoring Turnover from an HR perspective serves the dual objectives of containing the Turnover costs as well as driving the operational efficiency. Moreover, Organizations hire people in excess of permissible headcount in order to have a ready buffer available to meet sudden needs posed by separations. The longer an employee continues with an organization, the lesser its headcount requirement as well.
What is the Time period to be selected for measuring the Turnover? Research suggests the more the time period, the lesser is the variation visible in Turnover. Hence, it is recommended to go for short-term time frames, say 4 weeks.

Performance Management: The Need to Automate

February 8, 2007

It’s a common practice in all organizations to review the performances of their employees. Most organizations distinguish themselves by doing an annual assessment of the employees. However, in modern day organizations, the days of conducting an annual review is being quickly replaced with those done bi-annually or in some cases even quarterly. These organizations apply their reviews as tools to address and communicate the performance gaps to their employees, offer feedback on their short-term goals performance and on their performance in long-term goals. Pay reviews are being undertaken annually still and the quarterly reviews are simply being used to hold feedback sessions on the performance patterns of employees. These reviews are most often conducted on lengthy Excel spreadsheets, which make the process cumbersome and highly confusing for most. Adding to this the fact that most employees feel there is no impetus to take action on the findings from these manual reviews, simply because the reporting cycle time is high and there exists a lack of cohesive understanding of what actions should and will be taken.
These strenuous methods of assessment do not achieve the desirous corporate strategic goals and objectives. Technology plays a vital role in addressing these issues. Identifying the issues in possessing a customized Performance Management system, many technology companies are offering Performance Management software programs that are customized to achieve the ultimate business objectives. More and more organizations today are opting to have automated Performance Management systems in place. These automated systems reduce the cycle time for conducting a performance review across the organization. It simply is not enough however, for us to automate an existing Performance Management system. It is imperative to design that system in such a way as to serve corporate needs as well. It should be designed to measure the overall performance of employees in meeting corporate strategic goals. It should give an added advantage to the management extracting various reports which, in other words, is an enhanced reporting mechanism to be in place within the system. The system should be an automated production and distribution of standardized performance metrics which will evaluate both leading and lagging indicators. The advantages offered by this kind of system are phenomenal. It will offer a tremendous reduction in administrative legwork and more resources for analyzing, processing and taking informed decisions on the actual results and findings of performance management reviews. The ultimate result of implementing an automated Performance Management system will be an improvement in efficiency and productivity of all employees as a whole.

HRMarketer launches online community for HR suppliers

February 6, 2007

HRMarketer launches online community for HR suppliers
February 6th, 2007
HRMarketer, the No.1 HR Marketing and visibility service, has recently launched a new secure site, a social networking community, the very first of its kind in the HR industry. The site is aimed at companies to sell HR products and services.
The new site provides HR and employee benefit vendors with secure setting for networking opportunities, job listings and more.

SAS70: A requisite to a successful HRO company

February 6, 2007

SAS70 is developed by the American Institute of Certified Public Accountants (AICPA). SAS70 stands for Statement on Auditing standards No.70, service organizations. SAS70 is used to examine and report on the design architecture and operating effectiveness of a service organization’s internal controls. It is considered as the authoritative guidance that allows service organizations to disclose their control checks and processes to their customers.
Having understood what SAS70 is, the question is how does it contribute to the success of an HRO company? The Sarbanes - Oxley (SOX) Act of 2002 requires companies to audit the internal controls of their service providers, including those that provide HR outsourcing and payroll services. This case is applicable only for a listed company. That being said, when an HRO company serving small-sized customers desires to serve a large-cap company, say a company having a 100,000 employee base, it definitely requires an authenticated certification of quality and compliance to approach such a large company. It becomes a compliance obligation on the part of the respective large-cap company to do a complete due diligence and report on the internal control checks available in the outsourcing partner to its customers. Hence it is highly essential for the HRO companies, whether large or small to opt for the SAS70 compliance certification so as to ensure the HRO buyers with a satisfaction on their compliance standards.

Alternative Form Of Outsourcing

February 6, 2007

Dallas based GDES has announced an alternative form of outsourcing. Global Workforce solutions will serve American companies, reports YAHOO. The difference between the traditional outsourcing models versus the global workforce solutions model is that the latter allows the US companies to use the office space available in Chennai, India through remote connections. The India staff would be directly reporting on-site in the US. GDES makes available office space and other infrastructure set up. One could ask where the difference lies. The difference is unlike outsourcing in its traditional form. It deploys human resources through a third party which ultimately connects to US offices through remote connection, In the new model, the US office staff would be connecting to India and its staff directly. The traditional form of outsourcing requires outsourcing to a third party whereas this model does not require a third party outsource. Under this model, companies are provided with direct access to a low cost, highly educated workforce in India providing up to 60% savings in operational cost. The office set up in GDES is based on a satellite office model.

Hewitt Announces Q1 Results

February 5, 2007

Hewitt Associates, a global human resources company, announced their Q1 results for 2007.
Results Highlights
*Outsourcing segment revenues increased by 2%
*$22 million decline in third party supplier revenues
*Outsourcing revenues increased by 5%
*Outsourcing segment margin was 11.1% against 8.6% in 2006 Q1
*Consulting segment revenues increased by 10%
*Consulting segment income decreased by 15%
Comments on Results from the company chairman and CEO

“Overall, we are pleased with the results of the first quarter, which excluding some special items, reflect strong underlying earnings growth driven by the solid performance of both Outsourcing and Consulting”, said Russ Fradin, chairman and chief executive officer of Hewitt Associates.
“Just as importantly, we made meaningful progress on a number of key initiatives in the quarter .we are in the process of renegotiating our most troublesome HR BPO contracts, we have made significant progress in redefining our HR BPO strategy, and we have restructured our approach to variable compensation to build a stronger linkage between rewards and performance. Each of these is a critical step in the right direction.”

Partnership Between Headway and Scintellix

February 4, 2007

Headway Corporate Resources, a full-service human resources support company that provides executive recruiting, staffing and human resource support services to a range of business sectors, today announced that the Company has entered into a joint partnership with Scintellix, LLC, a biomedical technology consulting firm, in a newly created service offering, LifeScience Resources.

Minimum Wage Bill passed by US Senate

February 4, 2007

The Senate approved a $2.10 increase to the federal minimum wage on Feb. 1 by an overwhelming vote of 94-3, reports SHRM HR News.
With this increase, the federal minimum wage would increase to $7.25 per hour from the existing rate $5.15 per hour but will happen in three phases over a 25 month period.

HR-XML Certification Gaining Importance

February 4, 2007

HRCertify is the place to locate software and services that use the data exchange standards developed by the HR-XML Consortium, Inc. These standards were developed through the open processes of the HR-XML Consortium, an independent, non-profit, and vendor-neutral organization. The standards encapsulate a wealth of knowledge contributed by individuals and organizations from across the HR management domain. Organizations that successfully complete the certification process are awarded a logo to use on their websites and a link to a conformance statement within the HRCertify registry. The HR-XML Certified logo signals that a vendor is a technology leader and is ready to integrate flexibly and opportunistically with customers and partners.

Talent Shortage Study

February 4, 2007

While I was going through posts in our HR blog the post on Talent Shortage attracted my interest. I thought to add a post on this study. It was earlier explained in my article on Forecast for 2007 that recruitment is set to take a big piece of the HR pie. This post from the said blog just substantiates one of reasons behind this analysis. Talent shortage is a global phenomenon. This phenomenon is more commonly observed in nations pumped with flushing opportunities. Why does this happen? Let us just apply the simple economics of demand and supply relationship out here. When the opportunities are higher (demand) while there is a crunch in number of resources (supply), then it brings a talent-opportunity mismatch. You can’t find the right talent for the right opportunity in all cases. What does this implicate? A very high demand for Recruiters. A very high demand for RPO companies. When a company cannot find the right talent it will be left with an option to approach a Recruiting company to take care of its hiring. Though we know the recruiting consultant numbers are rising day by day, this will not be a constraint considering the resource crunch. This trend will hold true even in a slow job market. When the opportunities are less and the talent is higher, it forces the talent to approach the recruiters for opportunities. Either way, recruiters benefit from these two situations.
Posted in BPO, Business, HR, HR Outsourcing, HRO, Human Resource Information, Operations,

Top HRO Deals for 2006

February 3, 2007

2006 has seen a sluggish deal growth in terms of total HRO deals signed. However, there were a few big deals signed in 2006 like the $1billion Accenture - Uniliver mega deal. There were also several renewals as well . Analysts are predicting however, that 2007 will not see a continuity of the sluggish trend experienced in 2006 considering the amount of deals in the pipeline this year.

Competencies Management

February 3, 2007

Competencies Management is turning out to be a focal point in the Human Resources Performance Management sphere. This is fast emerging as a strategic HR concept helping the HR executives map the HR framework to their long term business goals. From a business standpoint many are wondering what a competency would mean. A competency is more than just knowledge and skills. It involves the ability of an employee to meet complex business demands by drawing on and mobilizing techno functional resources in a particular context. In other words, competency stands for the ability of an employee to understand and meet the business requirements through his or her knowledge and expertise in process domain and to demonstrate an optimum mix of behavioral matrix clubbed with emotional intelligence. However, every organization has its own set of definitions for competency, but the very essence of the competency remains the same for every organization irrespective of what their business objectives are. There are few distinctions that can be drawn in terms of how these organizations tend to measure or assess the individual competencies and how they attempt to map these competencies matrix to the organizational objectives. Competencies Management is proved to be a very relevant form of performance management for a process - based organization. Because an organization is dependant on the deliverables of various processes, the key for its success also depends on how these processes run to their optimum. To assess the performance of each process, it is adequately essential to assess the competencies of the individuals contributing to these processes. Having defined competencies, now the question to ask is whether the competency assessment is a post hiring criteria? Essentially Not, This form of assessment would have better results even in pro hiring environment. It actually eliminates the individuals not fulfilling the minimum competency requirement to be satisfied for the respective position. It also helps in anticipating skill availability and accumulating other job competencies for the future labor need for the organization. It is a refined HR solution that helps in choosing the right person for the right job at the right time which results in a reduced employee turnover rate and diminished recruitment costs. Having discussed on the timing of competency assessment, now one another question that immediately strikes us is the methodology to be adopted for the assessment of competencies. As explained earlier in this article, Different organizations have different approaches of measuring or assessing each form of competencies. For the sake of discussion, I’m placing an example of one form of competency assessment.
An Example study on Competency Assessment methodology
In an organization X, Competencies are divided into two kinds. One, Process Competencies and the other, Core Competencies. Process Competencies are defined as the criterion for fulfilling a particular level of expertise. In other words, Process competencies stand to test the process knowledge of the employee who brings a contribution to that particular process. The expertise is further subdivided into Novice, Trainee, Rookie, Professional, Advanced and Expert. Each level of competency is given a set of criterion, the fulfillment of which will put an employee into that respective level of competency bracket. This criterion shall essentially be defined by the process heads monitored and assessed by the line managers. Core Competencies stand to test the behavioral and productivity matrix exhibited by an employee. The reason to have two sets of competencies is that an employee performing at a high level of expertise but with the lowest behavioral skill sets will lead to impact the performance of other team members. This will ultimately have an impact on the business goals. As discussed earlier, the very objective of having a competency assessment is a strategic goal set by HR to meet business goals. Hence, it is a requirement to measure both forms of competencies. We have come to our final concept in our discussion on competencies Management. How employees can be monetized for demonstrating the expected levels of the respective competencies. Here is where the Performance pay concept comes into foreplay. We can term this as a refined form of performance pay. Instead of setting an incentives structure that is often criticized as a punishment to the employees, we’d rather bring to a more matured, transparent and ideal performance pay mechanism. For each level of competency, We’d set a specified amount which acts as a base pay which remains constant for each competency and for each employee performing at that respective level of competency. However, there is a varying component introduced to monetize the employee performance in terms of behavior and productivity which constitutes the core competencies. Through this way, we are delivering a uniform pay structure which is also validated by the desired competency levels and also a justifiable variable pay component based on the performance of core competencies.

Strategic HR - An Evolving Concept

February 2, 2007

There was an article published in SHRM recently on a survey and its findings on Strategic HR. Strategic HR is an evolving concept which requires the corporate HR executives to go an extra mile to innovate and implement new HR strategies rather than to restrict themselves to a routine form of jobs which are mostly administrative in nature. Strategic HR also requires the HR executives to understand the overall business goals and match the HR objectives and practices in line with these business goals. It is a welcome shift happening in the corporate atmosphere, recognizing the vital role played by HR in achieving business goals. All the HR executives, whether in a HRO or corporate, need to accomplish this skill set to give the HR a new shape for the new future.