Our chaotic world requires continually adding new capabilities on top of our existing ones. And even though you may have little time and even less budget. Talent leaders need to find a way to identify and add the new capabilities that your changing environment requires. So, this article lists the top 10 strategic actions that HR currently omits but that talent management leaders should consider adding.

Strategic HR Additions – That Are Designed To Cover Our Current Omissions

It’s hard to argue against the fact that competitive pressures and a record speed of change are forcing HR to continually upgrade its capabilities. And that means constantly anticipating “next steps” and then adding the HR capabilities that allow you to better handle the emerging worlds of both HR and business. So, in that light, here is a list of the often omitted strategic capabilities and actions that modern HR functions may need to add. Actions that appear early in the list have the greatest potential business impact.

• Report the estimated dollar impacts of HR – few seem to realize it. But my research has found that by far the best way to increase HR’s budget and gain the attention of your corporate executives is to report the estimated dollar value of the business impacts generated by each of the primary HR sub-functions (i.e., recruiting, retention, internal movement, and development). You can ensure that the dollar estimate is more credible if you develop it jointly with both your CFO’s and your COO’s office. For example, stating that we have a 12% turnover rate likely won’t generate much executive concern. This pales in comparison to the response you will get when you state that every percentage-point increase in top-performer turnover costs the company $7.2 million. You can learn more about quantifying the dollar value of great HR here.

• Add a process for identifying bad managers – unfortunately, research reveals that an astonishing 82% of managers don’t have the talent required for the job. Because a team’s manager is often the highest influence factor in team performance, nearly 7 in 10 employees would quit if they had a bad manager. It’s a costly mistake for a corporation to automatically assume that all managers are effective and to lack a formal process for identifying, fixing, or removing bad managers. You can learn more about developing a bad manager identification process here.

• Developing a process for assigning new work to either humans or to technology is needed – in today’s world of ever-expanding technology. As much as 50% of all new work can now be done by technology (i.e., AI, software, and robotics) instead of people. So HR must be part of a new process that objectively determines whether new work should be done by employees or technology. Learn more about how to make better people versus technology decisions here.

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