HR is a vibrant skill-set, needed in industry, government, heath care, and not for profit organizations. Each sector (all of which hire HR professionals) is only as good as the people it can attract, develop, retain and mobilize. The Bureau of Labor Statistics expects the profession to grow 22% between now and 2018.
HR is about building the systems and processes to attract, develop, mobilize and retain the critical talent organizations need to compete in a competitive marketplace. These processes include recruitment, rewards – benefits, base pay and incentives, building a culture that fosters performance, yet respects critical work-life balance issues.
To be “best” in the mind of its customers and to earn their business, an organization must develop and sustain critical capabilities and competencies. These are embedded in the talent base of the firm. Just as the chief financial officer is the chief financial strategist of the firm, so the chief human resource officer is the organization’s chief talent strategist. Just as the organization needs the right financial resources, at the right time, in the right place – so also, it needs the right people, at the right time in the right place.
Organizations compete for talent, just like they do for other scarce resources. HR strategists ensure that the organization can offer an attractive value proposition to attract its critical talent needs – this can come in the form of pay, developmental opportunities, the opportunity to be a part of a team, pursuing a mission that is meaningful to them. When you have the best talent, you must compete to keep and retain the people with your organization-essential skills. As organizations grow, as markets change, talent needs shift, and their development must accelerate. Who will ensure that the talent portfolio of the organization keeps pace in a rapidly changing global market place?
To play in today’s competitive market, HR professionals must be business savvy. They need to understand what keeps the CEO up at night, what keeps the CFO, the chief operations officer (COO) and the chief marketing officer up at night. In most cases, what keeps these professionals up at night is ensuring that the organization keeps its promises to customers, shareholders, and communities alike. In the end it is a collection of really talented people who keep these promises and deliver the results upon which the organization and its critical stakeholders depend. What keeps HR up at night? Making sure the organization has the right talent, in the right place, at the right time to deliver superior performance in the marketplace.