The Economy and HR

As I continue doing research for the new HR development program I’m launching in January, I see a greater and greater need for strengthening key HR skills. As Helstein Moerk, EVP of HR for Nokia said in his interview with HR Magazine (August 2008), ” Understanding the business and the numbers gives you a lot of credibility. These things may not have been important years ago, but these days they are critical skills”. And, with the changing economic times, in addition to becoming more savvy in business, there will be a greater emphasis placed on strategic thinking and even more on change leadership.

In reading The Necessary Revolution, by Peter Senge, I am increasingly convinced, that it is the companies who think about the full impact (present and future) of the decisions they make that are the ones that will survive through this economic crisis. But, this isn’t just a mindset shift on how companies operate, it is a monolithic paradigm shift of how we fundamentally operate at a global level – economically, socially, environmentally and industrially.

What then is the impact on HR?  As the day to day HR tasks continue to be outsourced, it will be the HR professionals that can stand side by side with their leaders and come up with a workforce strategy that will be viable in light of this shift that will get the edge and weather the storm.  We are beyond the days of transactional HR, we are at key tipping point where strategic thinking is no longer a nice to have, but a must have; and the HR professionals that can be strategic will keep their jobs and be the ones recruited for the new emerging HR jobs. So ask yourself, Do I have what it takes? If not, how do I develop the skills that I need to help my company be successful through this time.

Explore posts in the same categories: Human Resources, Uncategorized

Tags: Helstein Moerk, HR, hr jobs, HR Magazine, Human Resources, Nokia, Peter Senge, strategic partner

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