The HR function is currently under great pressure due to the impact caused by COVID-19. With actions and quick decisions needed to be taken immediately as well as adapting to the new way work, it’s been a challenging time for most to say the least.
The complexity in the HR team have increased also, managing health and safety in the workplace, adapting to a digital environment, reducing the wage bill, maintaining a competitive advantage are just some of the challenges faced by HR.
Interestingly, according to the Fosway Group HR Realities research 2020, the current situation has enabled HR leaders to be more involved in shaping strategic organizational decisions. Here are some key points why.
Repositioning the HR function
Often HR were seen as a back-office function in many companies. However, with the ever-changing regulations and requirements, HR have become a key strategic partner. In particular those who had already adopted a digital workplace, HR teams are able to support senior management in decision making, thus saving costs and improving the productivity of the company, even in uncertain contexts.
HR Digital Transformation boost
Companies no longer have a choice: they need a single source of truth. What does this mean? That it is no longer worth having multiple information systems and files on paper. It is imperative to have a single platform such as Talentia HCM, that contains a single source of all employee related data, easily accessible and in real-time. Within such a platform, HR can rely on accurate, up-to-date information, available whenever they need to make key business decisions.
Fosway reported “Fosway research shows HR functions that were further along with digital transformation, and had already adopted modern Cloud HR systems, found it significantly easier to respond to the crisis.”
Responding to rapid change
During such a time of unknown, being agile, dynamic and quick responding are key factors with regards to responding to the crisis. In fact, Fosway confirms this idea in the report. The HR area must set how to react to certain situations in advance. Studying the size of the workforce, the capacity of the company to provide more talent to the structure or to set rotation policies are some examples. With an overview of the situation it is easier to control those points of the organizational chart.
Moreover, it is not only a matter of reacting in time, it is also a matter of efficient communication. For example, when faced with new regulations and processes in the workplace due to an outbreak of Coronavirus among employees. In this scenario, if we do not have a tool that provide us continuous and fluid communication with the staff, it is very difficult to inform in an efficient and timely way the adoption of new policies or processes. And, in such cases, there is no time to lose and you need a single source of truth. Any error and extra-minutes can have a very high cost in the health of people, in the team performance, and of course, in the company’s profits.