As we enter the Next Normal, many organizations are eager to accelerate their business recovery. The pandemics have made us realise how flexible and resilient employees can be upon adapting to innovative working methods. This article will discuss some of the most sought-after skills for HR generalists in ensuring that their talent management and strategies support their current business priorities as they reset themselves this year. Read on and share your thoughts with us!
1) Data Analytics
The ability to translate critical metrics into valuable insights can help HR leaders make data-driven decisions and experiment with the effectiveness of HR policies and various interventions. For instance, HR would identify the root causes of employee turnover by analyzing the data generated from the HR Information System and Performance Management System.
2) Risk Management
Before implementation, HR must be able to forecast the potential risks that these activities may carry. For instance, it is likely some employees may misuse reimbursements and benefits. Therefore, HR must consider the authorities who sign and approve them. Apart from adequate staff training, HR must ensure workplace safety and strict policies and procedures, especially when a pandemic is ongoing.
3) Global Mobility
According to Deloitte, 53% of companies find that aligning mobility with talent strategy is a crucial challenge. HR leaders must develop a robust framework for international deployment that covers employment law and tax requirements, immigration legislation, compensation structure, talent acclimation and retention, assignment policies and legal system. Therefore, HR needs to seek professional advice related to payrolls, such as withholding employee taxes required by the home and host countries.
4) Mental Health
A study conducted by the Centre for Mental Health found that mental health problems cost £1,300 for every employee in the UK economy. Companies that undermine the mental health of their workforce, the risk is not exposed to the employee’s health but also their business’s wealth and the economy’s health as a whole. Therefore, HR needs to take proactive steps in providing support for mental health at work through leadership actions, culture change, policy creation, talent management and training, and more.
Actuaries are the guardians of the financial strength of companies due to their data-driven analytics techniques. As a result, they will help improve employee experience while adding value, especially during post pandemics. One of the ways to retain the best employees at work is to offer attractive Compensation and Benefits packages while helping businesses grow together. The right talent in place is one of the tools to measure a company’s success.
Now you have a concise overview of the top five important HR skills, but you should continue seeking upskilling opportunities to sharpen your tools. It will better equip you to lead your HR team and company to another level.
Doug Bonderud 2021, Prioritizing People Analytics: 6 HR-Driven Data Trends for 2021, ADP, viewed 8 February 2022, <https://www.adp.com/spark/articles/2020/12/prioritizing-people-analytics-6-hr-driven-data-trends-for-2021.aspx>.
Erik van Vulpen 2021, What is HR Analytics?, AIHR, viewed 8 February 2022, <https://www.aihr.com/blog/what-is-hr-analytics/>.
HR Future view on risk management in HR?, viewed 8 February 2022, <https://www.hrfuture.net/strategy/risk-management/what-is-risk-management-in-hr/>.
Lucie Mitchell 2019, How HR and mobility work better together, viewed 8 February 2022, <https://www.raconteur.net/the-hive/hr-global-mobility/>.
McKenzie Cassidy 2021, Three Ways HR Can Offer Mental Health Support, HR Exchange Network, viewed 8 February 2022, <https://www.hrexchangenetwork.com/hr-compensation-benefits/articles/three-ways-hr-can-offer-mental-health-support>.
PECB view on The Importance of HR Risk Management, PECB, PECB, viewed 8 February 2022, <https://pecb.com/article/the-importance-of-hr-risk-management>.
Robert Walters view on How To Succeed As An Actuary, viewed 8 February 2022, <https://www.robertwalters.com.my/career-advice/how-to-succeed-as-an-actuary.html>.
Renae Shaw 2019, What’s HR’s responsibility for workplace mental health? People Management, viewed 8 February 2022, <https://www.peoplemanagement.co.uk/experts/legal/what-is-hr-responsibility-workplace-mental-health#gref>.
Waqar Azmi 2021, What is Compensation and Benefits in HRM Objectives, ExamplesStartupHR Toolkit, viewed 8 February 2022, <https://www.startuphrtoolkit.com/compensation-and-benefits-in-hrm/>.