{"id":1114,"date":"2021-02-20T08:25:34","date_gmt":"2021-02-20T16:25:34","guid":{"rendered":"http:\/\/themanwhosoldtheweb.com\/blog\/?p=1114"},"modified":"2021-02-20T08:25:36","modified_gmt":"2021-02-20T16:25:36","slug":"strategic-human-resources-evolution-of-competition","status":"publish","type":"post","link":"http:\/\/themanwhosoldtheweb.com\/blog\/2021\/02\/strategic-human-resources-evolution-of-competition\/","title":{"rendered":"Strategic Human Resources: Evolution of Competition"},"content":{"rendered":"\n
\"8578269280?profile=RESIZE_400x\"<\/figure><\/div>\n\n\n\n

Today\u2019s information-based, knowledge intensive, and service-driven economy has forced organizations to make substantial changes to the way they compete.\u00a0 Changing perspective and responsibility of top management amidst rapid\u00a0Business<\/a>\u00a0and\u00a0Digital Transformation<\/a>\u00a0and the shifting role of HR from being an auxiliary function to that of a driver are some of the dynamics of the evolved competition.<\/p>\n\n\n\n

This evolution of Competition has been reached by passing through 3 phases:<\/p>\n\n\n\n

  1. Competition for Products & Markets<\/strong><\/li>
  2. Competition for Resources & Competencies<\/strong><\/li>
  3. Competition for Talent & Dreams<\/strong><\/li><\/ol>\n\n\n\n
    \"\"<\/a><\/figure><\/div>\n\n\n\n

    Throughout the evolutionary phases of competition, the focus of Growth Strategy<\/a>, the tools used, and the key strategic resources have been shifting.  The strategic objective of front-running organizations is on continuous evolution and Transformation, and motivated Human Capital is their key resource.  This realization is now at the forefront of Strategy Development<\/a> as competition for scarce Talented Human Resources becomes more intense.  However, modern-day managers are still using old tools to deal with an emerging reality.<\/p>\n\n\n\n

    Dexterity in leadership and management is a prerequisite for leaders now.  Research suggests that the 3 important changes that the CEOs must make in terms of their strategic perspective are in:<\/p>\n\n\n\n

    1. Strategic Resources<\/strong><\/li>
    2. Value Creation<\/strong><\/a> and Distribution<\/strong><\/li>
    3. Role of Senior Leadership<\/a><\/strong><\/li><\/ol>\n\n\n\n

      More on this topic in our editable PowerPoint presentation on Strategic Human Resources<\/a>.<\/p>\n\n\n\n

      With the fast-changing focus in Strategy, Human Resource Managers are finding themselves leading the strategic charge.  However, a large majority is ill prepared for the role.  With Human Capital becoming key strategic resource and basis of Competitive Advantage<\/a>, HR must adopt 3 core processes to evolve into the strategic HR function that has become their new realm:<\/p>\n\n\n\n

      1. Building<\/strong><\/li>
      2. Linking<\/strong><\/li>
      3. Bonding<\/strong><\/li><\/ol>\n\n\n\n

        Let us delve into the first 2 core processes to strategic HR function in a little more detail.<\/p>\n\n\n\n

        1. Building<\/strong><\/h3>\n\n\n\n

        The first core process of Building is all about creating human resource systems, processes, and culture to counter the deep-rooted bias towards financial assets and recognize the value of Human Capital.  For instance, Microsoft annually scans the entire pool of 25,000 U.S. computer science graduates for the best 500 to be given offers, of which 400 \u2013 top 2% of that year\u2019s graduates \u2013 accept.  This only fills 20% of the positions.  For the rest, Microsoft maintains industry linkages with 300 recruiting experts who scour the industry for the best and the brightest individuals, often wooing them for years.<\/p>\n\n\n\n

        2. Linking<\/strong><\/h3>\n\n\n\n

        Developing Knowledge Sharing Networks is core to leveraging Human Capital.  Converting individual expertise into embedded intellectual capital is what linking is all about.  For example, British Petroleum in the 1990s introduced the Knowledge Management and Organizational Learning program.  The main feature of the program was the \u201cPeer Assist\u201d where frontline workers in one location would help solve a problem for workers in another location without the usual hierarchy intervening.  Peer Assist was augmented by the \u201cPeer Groups\u201d of business units\u2014i.e. business units engaged in the same assisting activities as frontline individuals.  This way managers of decentralized operations compare experiences and share ideas.  Once this Information Sharing Network took root it was supported by setting up information-sharing infrastructure \u2013 e.g., video conferencing, chat rooms, video clip encoders etc.<\/p>\n\n\n\n

        Interested in learning more about the details of the 3 Core Processes required to evolve your HR into a strategic HR function and Key Actions needed to implement these?\u00a0 You\u00a0can download\u00a0an editable PowerPoint presentation on\u00a0Strategic Human Resources<\/strong>\u00a0here<\/a>\u00a0on the\u00a0Flevy documents marketplace<\/a>.<\/p>\n\n\n\n

        Want to Achieve Excellence in Human Resource Management (HRM)?<\/h3>\n\n\n\n

        Gain the knowledge and develop the expertise to become an expert in Human Resource Management (HRM). Our frameworks are based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. Click here for full details.<\/a><\/p>\n\n\n\n

        The purpose of Human Resources (HR) is to ensure our organization achieves success through our people. Without the right people in place\u2014at all levels of the organization\u2014we will never be able to execute our Strategy effectively.<\/p>\n\n\n\n

        This begs the question: Does your organization view HR as a support function or a strategic one? Research shows leading organizations leverage HR as a strategic function, one that both supports and drives the organization’s Strategy. In fact, having strong HRM capabilities is a source of Competitive Advantage.<\/p>\n\n\n\n

        This has never been more true than right now in the Digital Age, as organizations must compete for specialized talent to drive forward their Digital Transformation Strategies. Beyond just hiring and selection, HR also plays the critical role in retaining talent\u2014by keeping people engaged, motivated, and happy.<\/p>\n\n\n\n

        Learn about our Human Resource Management (HRM) Best Practice Frameworks<\/strong> here.<\/a><\/p>\n\n\n\n

        Do You Find Value in This Framework?<\/h3>\n\n\n\n

        You can download in-depth presentations on this and hundreds of similar business frameworks from the FlevyPro Library<\/a>.  FlevyPro<\/a> is trusted and utilized by 1000s of management consultants and corporate executives. Here\u2019s what some have to say:<\/p>\n\n\n\n

        \u201cMy FlevyPro subscription provides me with the most popular frameworks and decks in demand in today\u2019s market. They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions. I strongly recommend FlevyPro to any consultant serious about success.\u201d<\/p>

        \u2013 Bill Branson, Founder at Strategic Business Architects<\/p><\/blockquote>\n\n\n\n

        \u201cAs a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power. For us, it is an invaluable resource to increase our impact and value.\u201d<\/p>

        \u2013 David Coloma, Consulting Area Manager at Cynertia Consulting<\/p><\/blockquote>\n\n\n\n

        \u201cFlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients. In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over! The quality of the decks available allows me to punch way above my weight \u2013 it\u2019s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.\u201d<\/p>

        \u2013 Roderick Cameron, Founding Partner at SGFE Ltd<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

        Today\u2019s information-based, knowledge intensive, and service-driven economy has forced organizations to make substantial changes to the way they compete.\u00a0 Changing perspective and responsibility of top management amidst rapid\u00a0Business\u00a0and\u00a0Digital Transformation\u00a0and the shifting role of HR from being an auxiliary function to that of a driver are some of the dynamics of the evolved competition. This evolution […]<\/p>\n","protected":false},"author":3,"featured_media":1120,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[277,403,311,864,861,866,293,867,863,737,862,868,865,859,860,430,755],"class_list":["post-1114","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-business-transformation","tag-competition","tag-digital-transformation","tag-dreams","tag-evolution-of-competition","tag-financial-capital","tag-growth","tag-growth-strategy","tag-hr-function","tag-human-capital","tag-human-resources","tag-intellectual-capital","tag-organizational-capability","tag-strategic-human-capital","tag-strategic-human-resources","tag-strategy-development","tag-talent"],"_links":{"self":[{"href":"http:\/\/themanwhosoldtheweb.com\/blog\/wp-json\/wp\/v2\/posts\/1114","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/themanwhosoldtheweb.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/themanwhosoldtheweb.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/themanwhosoldtheweb.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/themanwhosoldtheweb.com\/blog\/wp-json\/wp\/v2\/comments?post=1114"}],"version-history":[{"count":5,"href":"http:\/\/themanwhosoldtheweb.com\/blog\/wp-json\/wp\/v2\/posts\/1114\/revisions"}],"predecessor-version":[{"id":1119,"href":"http:\/\/themanwhosoldtheweb.com\/blog\/wp-json\/wp\/v2\/posts\/1114\/revisions\/1119"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/themanwhosoldtheweb.com\/blog\/wp-json\/wp\/v2\/media\/1120"}],"wp:attachment":[{"href":"http:\/\/themanwhosoldtheweb.com\/blog\/wp-json\/wp\/v2\/media?parent=1114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/themanwhosoldtheweb.com\/blog\/wp-json\/wp\/v2\/categories?post=1114"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/themanwhosoldtheweb.com\/blog\/wp-json\/wp\/v2\/tags?post=1114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}