The Future Workplace is Changing and So Should You

We at Cambridge Global Advisory (CGA) have seen the workplace transform over the last 100 years. A confluence of global megatrends in the midst of the second machine revolution are creating disruption for companies in ways never before seen. The question CGA have to ask our organizations is that, is your current HR organization equipped to support the business in meeting these challenges? Are you looking at factors such as globalization, employee engagement, regulatory compliance, mergers and acquisitions, outsourcing, competition, new technologies and automation, cost pressure, and most importantly – growth?

Six trends that are driving HR transformation are:

1. 4th Generation Technology Revolution: We are entering the fourth industrial revolution. Rapid system innovation and integration are blurring the lines between the technical and real worlds. Organizations look to anticipate the next wave of jobs, digitally connect with the workforce and prepare managers to take the lead. We are entering the fourth industrial revolution. Rapid system innovation and integration will occur in a matter of years. This mass introduction of 3-D printing, neurotechnology and artificial intelligence will blur the lines between the technical and real worlds. We will work next to robots. Technology will be infused into almost every aspect of our professional and personal lives.

2. CHRO and CFO: Increasingly, back-office function looking to create efficiency, standardization and scale are collaborating on organizational and technology redesign. The synergies in the chief financial officer (CFO) and chief human resources officer (CHRO) partnership are particularly notable. Increasingly, back-office functions looking to create efficiency, standardization and scale are collaborating on organizational and technology redesign. Fully integrated systems and multifunction shared service centers are on the rise. For the foreseeable future, HR leaders will be asked to collaborate with their business partners and keep current on the emerging generation of operating models. The synergies in the chief executive officer (CEO) and chief people officer (CPO) partnership are particularly notable. Both roles have been elevated to have a closer relationship with the CEO in recent years.

3. Custom operating models: Self-service, automation and the need for strategic advisors are driving an evolution in operating models. As routine transactions are streamlined, an opportunity to rethink our current understanding emerges. The evolution of operating models will be driven by self-service, automation and the need for strategic advisors. As routine transactions are streamlined, an opportunity to rethink our current understanding of the shared service center surfaces. Staff are free to perform strategic operations work such as improving technology solutions and using data analytics to address service deficiencies. Function leaders are blurring the lines between service centers and centers of excellence as they look for strategic insights based in operational data and knowledge. The evolution of operating models will be driven by self-service, automation and the need for strategic advisors. As routine transactions are streamlined, an opportunity to rethink our current understanding of the shared service center surfaces. Staff are free to perform strategic operations work such as improving technology solutions and using data analytics to address service deficiencies. Function leaders are blurring the lines between service centers and centers of excellence as they look for strategic insights based in operational data and knowledge.

4. Linked to Company’s Bottom-Line: HR is quantifying the financial impact of programs to attract and retain the right talent, making the business case for investing in building HR capabilities. This also provides organizations with a better sense of how talent — and by proxy HR — drive the bottom line. Analytics is a critical factor in a CHRO’s ability to elevate the function as a strategic partner. Through predictive analytics, we can quantify the financial impact of programs to attract and retain the right talent, making the business case for investing in building HR capabilities. Organizations get a better sense of how talent — and by proxy HR — drive the bottom line.

5. Proficient HR: Organizations often restructure their HR function without redefining the capabilities required of HR professionals to execute more sophisticated operating models. To transform HR from an administrative to a strategic function, professionals require increased education, training and leadership development. Organizations often work to restructure their HR function without redefining the capabilities required by HR professionals to execute more strategic, sophisticated operating models. On the whole, HR organizations tend to lack the confidence needed to address complex subject areas, such as business change, analytics and globalization. In order to transform HR from an administrative to a strategic function, HR professionals require increased education, training and leadership development.

6. Talent Pool: Organizations are struggling to adapt to unprecedented change in the labor force, particularly attracting and retaining the right talent. HR’s ability to connect with top executives starts with explaining the implications of the changing labor supply on the organization’s future talent needs. Organizations are struggling to adapt to unprecedented change in the labor force, particularly attracting and retaining the right talent. Business owners feel the pressure to compete for talent and demand strategic and agile talent management. HR’s ability to connect with top executives starts with explaining the implications of the changing labor supply on the organization’s future talent needs.

While many trends and drivers impacting HR are similar, we understand that our clients have unique challenges related to their people, processes and technology. The CGA methodology is based on five categories: Identify, Diagnose, Design, Deliver and Sustain. Based on the breadth and potential scope for HR transformation, activities and deliverables have been categorized into work streams based on commonality in effort, data, resource requirements and delivery methods. The matrixed structure of this methodology supports immediate client needs (through business sprints) while laying the foundation to drive long-term sustainable changes in the HR organization. CGA’s methodology can be used in part or in whole depending on the client’s needs.

For more information, please contact our team at info@cambridgeglobaladvisory.com.

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