HRO Today April 2014 - 52

Market Insight
Figure 2
Changes anticipated in talent management
Source: Hackett Group's 2014 Key Issues Study
on an absolute basis, many HR functions will be able to
apply the per full-time employee spending difference
toward enhanced technology. This may help offset loss of
headcount, and increase the pay for the retained, higherskilled
HR staff.
There is some variation in outlook for different companies,
with 48 percent of HR organizations forecasting a budget
increase for 2014, and only 26 percent projecting an increase
in staff. This will be a year of altering the way that money
and staff will be aligned to enable HR to deliver higher-value
services while keeping costs relatively flat.
Top Priorities for HR
HR's strategic agenda for the coming year includes business
partnership, talent management, and continuing to upgrade
the use of technology and information (see Figure 1 on page
49). All of these elements work toward a reinvention of
HR and are consistent with the key issues that Hackett sees
across the business services landscape:
1. Developing and strengthening business partnerships.
Much of HR's effort in 2014 will be devoted to the difficult
task of enhancing the HR/business partnership. This can only
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HRO TODAY MAGAZINE | APRIL 2014
happen when HR leaders and staff begin to think and speak
in terms that the business cares about and understands. At
that point, HR will have the political and intellectual capital
to become a full member of the strategy-setting team,
applying its knowledge of human capital to the business
strategy.
2. Raising the level of talent-management expertise. HR
professionals have long prided themselves on being able to
enhance the value of the human capital within the company
where they work, adding to productivity through training,
performance management, and good employee relations.
Now, the call is to do more and prove the value of talent
management empirically.
Most aspects of talent management will undergo significant
changes over the next year or so. Across the entire company,
plans are in place to make important alterations to
performance management and strategic workforce planning
in particular (see Figure 2). Hackett research has found that
companies are not getting a return commensurate with the
effort being put into performance management. Therefore,
HR is looking for ways to change this process and add value
for both individuals and the business as a whole.

HRO Today April 2014

Table of Contents for the Digital Edition of HRO Today April 2014

HRO Today April 2014 - 1
HRO Today April 2014 - 2
HRO Today April 2014 - 3
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HRO Today April 2014 - 5
HRO Today April 2014 - 6
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