Like professional athletes, businesses need to be agile to reach the top of their game. They need strength, speed, and stamina, but it’s agility that allows them to react effectively to unexpected events. And it’s often the difference between winning and losing.
In any modern business of any size, agility underpins innovation and growth. Thankfully, almost all of us recognise the need for agility: 94% of business and HR leaders report that agility and collaboration are vital to their company’s success (Deloitte, 2017).
But that doesn’t mean we’re fostering agility within the HR team, where it’s most vital. Innovation requires effective collaboration, and true collaboration requires an agile approach to human capital management (HCM). Why? Because an understanding at every moment is critical to agile workforce management and crucial to giving your employees the best opportunity to show their potential. Thanks to the latest HCM tools, powered by AI, machine learning, and powerful analytics, that’s now possible.
Indian credit card provider SBI Card is a good example of the above. Having decided to integrate multiple HR systems through HCM Cloud, their HR team can be more agile with staffing, training, and workforce management – as well as enjoying clearer insights and better employee engagement.
Talent data can quickly show which employees have particular skills and experience. But this can then integrate with data on productivity, performance, and even their current availability. HR teams and project managers can intelligently select teams that not only bring together a mix of capabilities – from across the business – but they can do so without disrupting other work. Thus you might be able to hire the most talented person, rather than the “obvious” one.
If freelance support or new hires are required, on-boarding processes can be streamlined, with manual, time-consuming tasks automated. Or event start before new joiners’ first day. And if internal resources need to be reallocated, talent pools can be assessed and decisions made in minutes, thanks to a unified view of people across the business.
Taking a longer term view, these technologies can even provide the freedom and agility to open up new ways of structuring an organisation. A matrixed approach has been tricky to achieve, with teams formed across functions and locations, and multiple managers for each employee. But predictive analytics and modelling can help to project any potential issues, so they don’t get in the way of collaboration – nor innovation – in the short or long term.
To better understand how HR leaders view innovation, we conducted research across EMEA and APAC, speaking with businesses in every industry. Read more on The Innovation Agenda here.