Gone are the days when Human Resources barely thrived under the shadow of some other sections of a business enterprise. With the innovations already encountered in the field of data, human capital is as influential as finance to the growth of a company and HR departments are well-poised to lead the charge.
What are the Present & Future Prospects of HR Departments?
In the past decade, the growth that we have experienced in the business world has been unprecedented with more businesses swaying towards offering creative solutions to consumers; this creates a need to re-evaluate the position of employees within a business venture, and it is safe to say that data-driven HR has had a tremendous influence on this impressive jump.
Recent studies have shown that the future of work will be in direct contrast to the previously deployed models which allowed less flexibility and limited employees to the confines of their specified roles within the structure of an organization. The future, on the other hand, promises a different approach and ample opportunities for employees to learn, relearn and explore the various avenues made available to them thereby significantly influencing the quality of human capital development.
How Did the Big Move Happen for HR Departments?
With these advances in the business sectors, HR departments no longer have to be concerned only with recruitment and the general welfare of employees. The field has opened itself up to other similarly adequate concerns such as data, its proper management, and how it affects the company’s position in the marketplace.
The future of HR is undoubtedly data-driven and the digital transformation that has taken place over the years makes it necessary for the HR department to look towards new strategies if an enterprise, as we know and love it, must survive, to the point of thriving. In today’s business world, data is no longer accessed through a myriad of physical files that require sheer determination and wanton focus that slow down the pace of transactions. It is now possible to access and handle data that would have been previously determined too enormous via digital mediums with more automation and less physical exertion.
Gone are the days when Human resource tasks such as human capital analysis were just a jumbo of words and estimated projections for the future. With these new advancements, it is possible to look into a company’s human capital and determine a course of action from the prevalent human capital position. In the wake of the new developments, HR departments can now move on to undertake significant roles in the company slipping out of the shadow of their support roles since the inception of the concept. This is as a result of the fact that the rest of the industry is forced to see the importance of human capital to the future of a company especially in this data-driven world where virtually every aspect of the business is driven by the availability and analysis of data in one form or the other.
How do you Plan your Company’s Future in Response?
The big move has come like a wave for HR departments in companies around the world today, and your company needs to dive into human capital development concerning your company’s projected future.
Moving forward, it has become vital for companies to plan a response to the big move if they want to have any relevance in the future of work. To do this is to review the functions of the HR departments to include the recent influx of digital transformation in the area of human capital and the welfare of employees.
It is also now quite important to review the place of HR departments in the future of work and give it as much importance as the finance departments as the future of work is no longer only about increasing ROI (Returns on Interest) as much as possible, but to also ensure that employees feel as comfortable as possible thereby giving the company an edge over competitors as it becomes easier to invest in employees as growth drivers and integral part of the company structure rather than view them as appendages that are too easy to replace.
The employment market is undergoing a severe change, and any company that doesn’t appropriately respond to this change might find it challenging to thrive in a data-driven HR world. By developing HR function as customer service of sorts, it becomes easier to track employee welfare, work input, and also create and attractive space for potential hires in addition to a proper breathing ground for new hires, with enough space for growth in the long haul.
Why Develop HR function as a Customer Service?
Employees are increasingly beginning to look for pleasant work experiences that give them room for growth. The future of work looks lees concentrated on just accomplishing set tasks, but getting involved in the work process from start to finish and the effect that digital transformation has on an employee’s general acceptance of their work environment and processes.
By treating HR function as customer service, your company will equally be able to focus on addressing the human capital population as consumers and become more consumer-centric in their employee welfare approach. It is vital for HR department companies to develop new services to keep up with their new market positions, services that are about the consumers as much as the employees of the company to thrive.
What is Data’s Role in this New System?
Undoubtedly, data is a significant driver in this new onslaught of HR departments, coupled with digital transformation; HR departments have to create new processes to ensure that they are in tandem with a data-driven HR system.
Services such as an HR dashboard help to provide, manage, and harness the necessary data to ensure that the company is equipped with the appropriate workforce designed for immense success. With the progress that tools such as the HR dashboard have made in the human capital analysis and employee performance, giant strides will inevitably be made in human resources.
With access to the right data, HR departments will also be essential to ensuring that a company is equipped with the proper organizational structure, culture, and processes and poised for better performance and outstanding delivery.
Want to find out more? Discover Nexity’s experience. They chose Toucan Toco to answer their HR problematics.
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ABOUT TOUCAN TOCO
Our Mission: To act as a pedagogy, in order to transform raw and complex data into Dataviz and Interactive Stories. We create a software category: Data Storytelling.
We help companies such as Elior, Nexity, and Vinci to transform their HR tools. We create DataViz applications to help HR departments share data on recruitment, work injury, and absenteeism management and staff planning.
We facilitate the commitment of the whole company in the digital transformation journey. Thanks to a global platform, we facilitate access to HR data for all employees. By managing user permissions, we can deliver the right insights to the right user groups, an employee can have a group vision and a manager can have access to the data of his entity versus the rest of the company.
From 4 to 75 people in 5 years, more than 100 clients, 290 projects among them: Renault, Total, Axa, BPCE, EDF, JCDecaux, Téréos, Psa, Marques Avenue, lvmh, Euler Hermes, Vinci, DCNS, BIC, sncf, seb, Moët Hennessy, La Banque Postale…
Our Small Apps are mobile, easy to use, easy to implement, integrated into existing IT systems and serve the operational excellence of HR, Marketing, Financial, Commercial and General Management businesses.
Adrien, Marketing Manager @Toucantoco, a data visualization solution.