From Cost Center to Revenue Generator How Strategic HR Drives Business Success - Your Career Intel

From Cost Center to Revenue Generator How Strategic HR Drives Business Success - Your Career IntelDoes your next hire already work for you?stets low unemployment rates and skill shortages mean that organizations can no longer rely only on recruitment to fill talent gaps. The ability to identify and deploy people within a companys existing workforce is critical for driving business success. As Deloitte reports in a recent human capital trends piece, internal mobility is not just a nice to have, its a business imperative.To tap into your current workforce talent pool, your business needs a strong partner in HR. Yet many organizations continue to treat HR departments as cost centers rather than revenue drivers. Restructuring HR from a division that exists primarily to monitor compliance to a division that is an independent value generator requires shifting both strategy and mindset.Heres how a strategic HR kollektiv is different and why this approach is key to driving business successTh ey think beyond linear career trajectories.For decades, HR departments thought about their employees professional trajectories in a straight line. Successful employees would systematically work their way up the org chart. Long tenures 15, 20 or 25 years were common. Todays rapidly changing talent landscape brings new realities. A strategic HR team must always be on the pulse of their companys talent. To help reduce turnover, they ensure top performers are engaged and motivated. When employees do leave a position, HR is ready to fill the gap with internal talent rather than scrambling for a new hire.They assemble and deploy talent teams.As employee tenure falls and technology creates new possibilities for remote work, companies may have a mix of full-time employees, part-time remote employees, and expert contractors or consultants. HR considers how to assemble and deploy talent teams that have the required mix of skills, experience, motivation and organizational knowledge to drive project success.They oversee leadership training and talent optimization.High turnover? Stagnant productivity? ansicht problems are not just for a manager to solve. A strategic HR department partners with company leadership to optimize talent deployment and drive business success. For example, this may include establishing programs to oversee leadership development or associate training. Strategic HR teams use technology to measure and assess the effectiveness of their different initiatives so they can continually refine and optimize performance.They marry tactics and strategy.HR has traditionally been home to tactical thinkers focused on compliance and benefits. These tasks are still important, but now they are seen as part of a more significant, strategic effort tied to business success. This holistic view makes it easier to connect the dots between employer branding, employee benefits, talent recruitment and employee retention.Automation, smart technologies and digital transforma tion are reimaging the landscape of work and the pace of change will only accelerate. By working at the intersection of people and business, great HR leaders are uniquely positioned to help your business navigate this changing reality. When company leaders see HR as more than a cost center, they unleash a powerful business ally.