Source | blogs.oracle.com : By Takin Babaei
Call it what you may — “Human Resources”, “People Management”, “Human Capital Management” — but is a new name, by itself, sufficient to validate its importance to the organization?
Traditional business areas have changed the perception that they are “cost centers” and have elevated themselves to “value-added business partners.” For example, the traditional finance operational functions – keeping the books, ensuring compliance, etc. – are still important for an organization’s survival and must continue. Those in finance roles, however, have also realized that they are in a unique position to advise and to partner with business executives to drive and more closely support the organization’s strategy. To accomplish this, they have had to prove that they are able to look beyond the organization as a series of financial transactions to emphasize how finance and financial decisions support the objectives of the business entity.
Surely, traditional human resource roles – hiring, benefits and payroll management – are necessary for an organization to function, but these are operational tasks. What does an HR department need to do to attain an elevated organizational role? In her 2015 article, The New Roles of the Human Resources Professional, Susan M. Heathfield observed, “It’s not enough to ask for a seat at the executive table; HR people will have to prove they have the business savvy necessary to sit there.” So how does HR transform itself into a value-added partner of the organization? The answer lies in using robust Talent Analytics to Drive Performance. Analytics-driven HR:
• Delivers more precise visibility to predict and plan organizational performance
• Permits cross-functional insights to better understand, develop and maintain a productive workforce
• Measures and shapes HR’s contribution to the business