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Expert Advice for High-Growth Businesses

5 Lessons for HR Leaders from Modern Business Experience

Guest Author
This is a syndicated post, view the original post here

By Krista Sterner, Event Marketing Director 

At Modern Business Experience 2019, HR leaders from organizations around the world gathered to discuss ways they’re navigating shifting employee expectations, emerging business models, new technologies, and so much more.

For three days, attendees heard from hundreds of experts, practitioners, and thought leaders about the trends and market realities they must prioritize in order to reimagine the employee experience, support business agility, and foster a culture of innovation. In addition to several inspirational keynotes designed to help all core business functions rally around a common goal, the HR-specific tracks offered tailored insights and takeaways that attendees could easily apply and share with their teams.

Some of the top takeaways from this year’s event paint a clear picture for today’s HR leaders: In order to add true value to your organization, you must be equipped with the tools and insights needed to adapt to new disruptive forces.

1. Disruption isn’t just a business issue; it’s a global issue.
Disruption was the thread connecting all the sessions at Modern Business Experience, particularly within the powerful keynotes. Willis Sparks of Eurasia Group said it best, referencing the state of global politics and its impact on the business climate: “Disruption is the order of the day.” His overview of major political shifts over the past 10 years illustrated just how quickly even the most established institutions can be turned upside down. While this session painted a broad picture of how organizations and their functional areas can feel the heat from disruption, the HR track content spotlighted how new competitive dynamics, consumer behaviors, and workforce preferences are changing the way companies hire, train, and engage with employees.

 

2. The cloud is shaping how businesses respond.
As organizations strive to navigate disruptive forces, adapt to consumer needs and preferences, and exceed competitors of all sizes, technology is a rightful weapon of choice. During a talk on the final day of Modern Business Experience, Oracle CEO Mark Hurd explained why organizations are moving to the cloud in droves. Cloud technology reduces costs and labor while improving efficiencies and supports organizations in their broader innovation initiatives, including adoption of artificial intelligence (AI), Internet of Things (IoT), and more. He added that the cloud is not a technology, but rather “a way of thinking of architectures and business models.” 

The benefits for HR specifically are significant. The cloud empowers teams to not only embrace cutting-edge technologies to improve efficiencies and collaboration, but to help strengthen data security and compliance.

3. Culture is making transformation a reality.
Digital transformation was another common theme at the event. Many speakers offered practical guidance and tactical advice for making transformation a reality, not only in terms of business processes, but also how they manage employee experiences and evolve their corporate culture. Charlene Li, Senior Fellow at Altimeter, emphasized the importance of employing a disruptive mindset and cultivating a culture that supports risk-taking, going as far to note that “culture eats strategy for breakfast.”

4. Best-in-class organizations have customers at the center.
During her presentation, Li also noted how the constant evolution of the customer is driving competitive dynamics. She stated that to be successful, organizations must not only know who their customer is today, but who they will be tomorrow. Then, they must have strategy and technology in place to meet customer needs, even for employees not in a customer-facing role. In the case of HR, leadership must hire people who not only represent the brand’s values and missions, but also represent the customer’s values. Their skills, behaviors, and viewpoints must align completely with where the company is today and where it will go in the future. To ensure this, HR leaders must implement more sophisticated hiring, onboarding, and engagement methods.

 

5. HR leaders are helping dictate their businesses’ future.
In the HR track, numerous brands across industry segments shared their cloud migration stories. Among them were Caesars Entertainment, Penn National Insurance, and Veterinary Health Group, who realized success by moving to Oracle HCM Cloud and Oracle ERP Cloud. Although organizations have different reasons for moving to the cloud, their desire to deliver on business promises today and in the future is the same. By moving two functional areas to the cloud in tandem, all companies were able to improve cross-functional collaboration and efficiencies, two critical ingredients for excelling in the digital era.  


Get ready for 2020!
Modern Business Experience was a whirlwind event that brought together the brightest and most innovative minds in business today. We’re still reveling in the great content and conversations and we’re already preparing for 2020. Want to see what we have up our sleeves? Sign up to receive exclusive updates and see how we’re planning to make the conference even better for HR attendees next year.

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