The HR Resurgence in 2023
Published on 05 Jun 2023
We live in a time when AI not only makes news but also writes them. Things are about to change a lot in the business world. A tectonic change is happening; causing problems we could never have imagined. Since last year, the news has been mostly about AI, bitcoin, online work, and the gig economy. Just a few years ago, many of these trends were still in their early stages or not even heard of. Today, they are used in many areas of work and life. These problems and changes made it possible for the HR function, which had been lost or ignored for a long time, to make a comeback.
In this whitepaper, you will learn all about the HR resurgence in 2023, how HR processes are getting better, and, most importantly, how a new and improved HR role can help your company soar.
HR is getting better and breaking down walls:
- It's no longer just a department that hires and manages people.
- It's no longer just doing routine chores over and over again.
- It's no longer a section that companies only care about when they want to hire many people.
- HRM has risen from the ashes like a phoenix to take back its place at the business table.
Getting out of the chains of the past
As a function, HRM is finally breaking free of the limits that have held it back for a long time and going beyond them. Now Let's explore a few of them:
1. HR is a support role whose only job is to handle paperwork.
HR was once thought of as a support role. Senior leaders didn't know HR workers could greatly affect the business because they only did administrative work. As it became clear that workers are the most important part of a successful organization, HR was seen as a key role that directly contributed to the growth and success of the organization.
2. Human Resources is only about handling workers
Personnel management is one of the HR function's main jobs, but it also does many other things that help employees have a good time at work. HR experts today are expected to be good at strategy planning, planning for the next generation of leaders, developing leaders, and making business operations run more smoothly.
3. HR needs to have the power to make decisions.
Modern HR has the power to make decisions. It makes most of its choices based on data and analytics. Data and analytics are the main ways HR makes decisions today, whether hiring the best people, getting employees more involved, or judging their success. Thomas H. Davenport, a well-known scholar who wrote for the Harvard Business Review, brought up a study that proves this point. Here are a few key advantages
- 51% of people who answered the HR survey said they could do prediction and perspective analysis.
- 94% of the people who answered said they were confident in their ability to predict the possibility of top-level talent leaving alone.
4. Human Resources is a cost center, not a profit center.
Companies are more aware than ever that the experience of their employees could make or break their future than they were in the past. When it comes to EX, HR is the center of attention. HR is an income center that keeps workers from leaving by developing the right hiring strategy, lowering turnover, ensuring rules are followed, and keeping an eye on how employees see their work and the company culture.
How human resources are coming back
The "Great Resignation," which happened in 2020 and 2021, had never happened before. Many people quit their jobs, mostly to protest bad work conditions, low pay, and too much work pressure. The pandemic turned out to be a turning point that gave people the guts to act.
This was when businesses started to understand that HR, a part of the employee experience usually given less attention, needs more attention. CXOs realized that HR couldn't be pushed to the side anymore and needed to be a part of key projects.
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