NEW YORK, NY--(Marketwired - Mar 10, 2015) - The Human Capital Institute (HCI), the global institution for strategic talent management, today announced the release of its latest Talent Pulse, a quarterly research eBook addressing the biggest trends and challenges of talent management. In its newest Talent Pulse report, "Empowering the HR and Business Partnership," the organization explores the importance of creating a successful HR Business Partner model, in order to align HR with the rest of the business, streamline administrative processes, reduce costs and increase efficiency.
Today's companies understand that the people they employ are their biggest differentiator. And with the current business climate characterized by factors including increased competition, globalization and a dynamic economy, the need for knowledgeable HR professionals who can drive strategic initiatives and create an optimal workplace is clear. As such, more organizations are uncovering the power of their HR departments and elevating the roles of their Human Resource Business Partners (HRBPs) -- individuals who work closely with senior leaders to develop strategic HR operations that align with business goals and objectives.
In this cutting-edge research, HCI explores the current HRBP landscape. Topics addressed include how many organizations currently have the model in place, the biggest challenges in adopting the model and the most in-demand skills HRBPs need to drive improvement. Based on survey responses of over 300 HR professionals, interviews with HR leaders who have had success in their organizations with the HRBP model and numerous secondary sources, the report reveals the best practices for developing, empowering and raising the performance of HRBPs in the workplace.
Key findings from the research include:
- A growing trend: Slightly more than half of organizations surveyed (55 percent) report having an HRBP model in place. Of those that do not, 43 percent are considering adopting one within the next five years.
- The biggest obstacles: The greatest challenges organizations face in transforming their HR practices are a lack of information, preference for the traditional, transactional model and the size of the organization; larger companies are more likely to have HRBPs.
- Hiring from the outside: Employers are twice as likely to fill HRBP positions externally, as they often struggle to find the needed skill sets (such as business acumen and consulting expertise) in their current HR employees.
- Room for improvement: Of the companies that have an HRBP model in place, only 63 percent report success. This can be attributed to the majority of organizations adopting the model less than three years ago. The survey showed the biggest challenges facing HRBPs are too much administrative work and poor communication of expectations.
"As the needs of the workplace continue to evolve, and companies must contend with growing external factors, the Human Resources Business Partner model has been proven to help organizations overcome these challenges and ensure their talent strategy is in full alignment with overall business goals," said Carl Rhodes, HCI's chief executive officer. "Our latest Talent Pulse research explores this topic in depth, offering insightful advice to maximize the HRBP program, from getting initial buy-in to ensuring HRBPs have the required skills to transform HR."
HCI will explore the HR business partnership in depth during its upcoming 2015 Human Capital Summit, taking place March 31 through April 2, 2015 in Orlando, Fla. The event, designed to highlight how strategic roles and the business partner model are changing the face of HR, will also feature presentations from the three HR leaders interviewed for the "Empowering the HR and Business Partnership" research: Marie-Claire Barker, global chief talent officer for MEC Global; Meredith Oakes, vice president of Learning and Performance for MVP Health Care; and Joanne Rencher, chief people officer for Girl Scouts of the USA.
HCI has made "Empowering the HR and Business Partnership" available for download at: http://www.hci.org/hr-research/2015-talent-pulse-empowering-hr-and-business-partnership.
About Human Capital Institute (HCI)
Founded in 2004, HCI is the leading global source for cutting-edge insight on how organizations can manage talent in today's dynamic knowledge economy. Through a robust network of expert practitioners, leading corporations, government agencies, global consultants and business schools, HCI is a clearinghouse for HR best practices and new ideas, delivered via in-depth research, comprehensive courses and informative events. HCI provides its community of 195,000 members, spanning all industries and business sectors, with the knowledge they need to transform their human capital strategies. For more information, please visit www.hci.org.
About HCI Research
HCI is a premier thought leader in the new discipline of strategic talent management with an unparalleled reputation for innovation, leadership and excellence, demonstrated through cutting-edge research and analysis. HCI Research draws from the knowledge of a large network of executive practitioners, expert consultants, leading academics and thought leaders, as well as thorough quantitative and qualitative analysis, to produce insightful findings and recommendations that shape strategy and encourage action across the continuum of talent management. To learn more, please visit: http://www.hci.org/content/research.