What’s on the mind of HR Leaders today?
Developing talent, leadership, and, culture
Our survey of 550 HR thought leaders reveals the top external trends and business priorities impacting the work of HR today and in the future.
Talent is no longer just an HR priority, it's a top business priority.
The top external trends HR Leaders predict will impact their business over the next 2 years:
- Interest rates, and the threat of recession
- Labor and skill shortages
- Increasing cost of labor
Talent tops the list of strategic business priorities for the next 2 years:
- Retain and attract talent
- Exploit growth opportunities
- Transformation (digital & business)
The HR function’s top priorities and investment areas showcase a focus on people strategy, leadership, and employee experience.
HR experts are developing strategies to shape an organizational culture that connects with talent and is felt at all levels of the organization.
Top HR Priorities
- Creating a people strategy to deliver business strategy
- Creating an employee experience that retains talent
- Developing managers’ capability to inspire, motivate & retain talent
- Creating a more attractive employment proposition
Top HR Investment Areas
- Leadership development
- Talent retention
- Talent acquisition
- People Strategy
So, where do HR Leaders stand today?
They’re divided on whether they have a future-fit culture:
- 50% were uncertain or disagreed that their culture will drive future success
- 36% have been able to harness the benefits of disruptive and innovative practices, ideas, and people into their businesses.
They know the skills needed for the future but are less sure how to acquire them
- 64% feel confident they know the skills they need for the future sustainability and growth of their business, however…
- Only half were confident they knew how to acquire those skills.
They believe their Employer Value Proposition needs to be refreshed
- 72% see the need to refresh their EVP to attract the talent they need for the future
- 45% are unsure or do not believe that their current employee experience is aligned with the employer brand
While HR leaders thought that data analytics is core to decision-making, they aren’t using predictive analytics
- only 21% agreed that their current talent decisions are driven by predictive analysis and…
- 11% are making technology and AI an investment priority
What does the future hold?
HR leaders predict future leaders will be...
- Compassionate leaders who cultivate strong engagement in their teams
- Leaders who deal with uncertainty, ambiguity, and constant change more effectively
- Leaders with diverse backgrounds and inclusive skills to foster innovation
HR leaders predict the future of the HR function will be…
- More strategic
- Partnering more closely with the CEO
- Coaching top management about cultural and leadership evolutions
- Stronger integration through objective-setting and decision-making
- Greater focus on how HR contributes to the bottom line
- More automated and analytical
- Predictive analytics to help make better & faster decisions
- Using data & tools to make talent decisions
- Delivering day-to-day transactional HR services with the help of AI
- More people-centered
- More contact and less paperwork
- Using analytics to “know” people better
- Creating experiences and connections between colleagues
- More transformative
- Adopting agile, design thinking and breaking down silos
- Upgrading and shaping skills to adapt to new work ways
- Pivoting and evaluating change at a faster pace
- Less fixed in roles but rather, capabilities
For the latest insights on how today’s leading CHROs are tackling talent challenges in their own workplaces, watch our recent webinar “Workplace of the future: A CHRO's view of the future of work”.
Or contact us to learn how we can help you achieve your business goals through people.