Sunday, May 25, 2014

HR "ill prepared" for global changes?

HR departments are deemed to be ill-prepared to face the rigours of the changing global environment.

According to a survey from PwC, despite 44% of CEOs feeling that the global economy will grow over the coming year, an overwhelming majority had little faith in HR to deal with the changes.

In fact, only 34% claimed that HR was “well-prepared” to take advantage of transformational patterns.

A shocking nine per cent said HR was not ready at all.

The report recommends that HR outfits formulate “sophisticated analytics to spot talent trends and skills gaps, and provide the insight that will help organisations adapt their talent strategy, training and reward framework to maximise the opportunities available.”

Jon Andrews, HR consulting leader at PwC feels that HR can “prove its worth” by utilising HR data analytics and strategising for changes in demand and supply.