Business and Human Capital Challenges: Research …

1 Business and Human Capital challenges Today and in the FutureA Research Report by the society for Human resource ManagementTable of ContentsIntroduction 1 Executive Summary 4 Business and Human Capital challenges 9 Human Capital challenges 10 challenges Involving the HR Function 11 Financial challenges

2 14 Perspectives: Talent management and Engagement 17 Sustaining Employee Engagement and Job Satisfaction (by Karen Paul) 17 Modernizing the Employee-Employer Relationship (by John Jersin) 19 Tapping into the Global Talent Market (by Lynn Shotwell and Andrew Yewdell)

3 21 Flexibility Central to an Effective Workplace (by Ellen Galinsky) 23 Meeting the challenges : HR Strategies, Competencies, Tactics and Tools 27 Tactics to Attract and Retain Talent 28 Organizational Design 28 Strategic HR.

4 Actions Organizations Are Taking 31 Critical HR Competencies, Knowledge and Resources 33 Perspectives: Business and HR Strategy 41HR Competencies: The Foundation Upon Which to Build Today s and Tomorrow s Business Leader (by Kari Strobel) 41 Certify This!

5 The Role of Competency-Based Certification in HR (by Alex Alonso) 44 Beyond Data Analytics to Dialogue, Action and Results (by Theresa M Welbourne) 46 Developing the Next Generation of Leaders: Trends and Truths About the Future of Leadership Development (by Ian Ziskin) 48 Aligning HR Tech to Strategy (by Sue Meisinger)

6 51 Non-HR C-suite Executives Views of the HR Function 53 How Non-HR Senior Executives View HR and Strategy 54 Human Capital challenges According to Non-HR C-suite Executives 56 challenges Involving the HR Function According to Non-HR C-suite Executives 59 Financial challenges According to Non-HR C-suite Executives 62 Perspectives: Business Environment 71Is HR Weakest in the Areas Most Likely to Impact Corporate Success?

7 (by Steve Director) 71 What Is HR s Role in Managing Change? (by Deb Cohen) 74 The Regulatory Environment (by Elizabeth Owens Bille) 74 Don t Fear Prudent HR Risks (by Wayne Cascio) 76 Got Skills?

8 Closing the Gap on Opportunity and Prosperity (by Eva Sage Gavin) 78 Conclusion 82 Methodology 83 Appendix

9 91 Endnotes 99 Additional SHRM Resources 103 Acknowledgments 105 Introduction2 Business leaders across functional areas and a wide range of industries can agree that their organization s success will be determined by attracting, retaining and optimally managing a quality workforce But although working on these Human Capital success factors is now an essential part of every Business leader s role.

10 For Human resource management professionals it is their role The challenges HR professionals face each day as they carry out their responsibilities give them a good insight into the broader Business and Human Capital challenges their organizations face now and in the future The 21st century workforce is complex Although the impact of the Great Recession is still being felt in the U S labor market long-term unemployment rates are still high and wages have yet to see significant increases employers also report that filling many key jobs is grow-ing increasingly difficult The need for educated, skilled and technically savvy employees continues to ramp up and is no doubt driving these recruiting difficulties and highlighting the importance of Human Capital issues By asking HR professionals and non-HR C-suite executives about the most critical Business challenges , especially as they relate to Human Capital issues, we can uncover important insights into how the workforce is changing and how organizations will deal with these changes in order to succeed The society for Human resource management (SHRM)