Why strategic HR is crucial and how to get started

Rusty LindquistVP of HCM Strategy & IP BambooHR @rustylindquist rusty@bamboohr.com Angela Watson Enterprise Account Executive eFileCabinet awatson@efilecabinet.com linkedin.com/in/angela

Rusty Lindquist

VP of HCM Strategy & IP

BambooHR

@rustylindquist rusty@bamboohr.com

Angela Watson

Enterprise Account Executive

eFileCabinet

awatson@efilecabinet.com linkedin.com/in/angela-watson-5354903a

It’s time to blow up HR and build something new Rethinking HR

Why we love to hate HR What will it take to fix HR It’s time to split HR

HR faces a crisis of credibility in the boardroom

HR is our “favorite corporate punching bag”

"HR today sits smack-dab in the middle of the most compelling competitive battleground

in business, where companies deploy and fight over that most valuable of resources—

workforce talent."

-Matthew D Breitfelder HBR: “Why did we ever go into HR”

Understand HR’s True Worth

as a strategic investment

1

Historical Precedence

Millennials will comprise 75% of the global workforce by 2025

1yr

200%

90-Within the next 10 years, 43% of the US workforce will be eligible for retirement

• Workforce competency and skills gap

• Increased competition

• Globalization

• Culture

• Competition for talent

• Stresses on work-life balance

• Etc.

–Bersin by Deloitte

–Ram CharanBest-selling Author, World-renowned Business Advisor

HR spends less than 15% of its time as a strategic business partner, and spends most of its time

dealing with the implementation and administration

of HR policies and practices

But when HR is involved, organizations function better, and are much more successful

–Forbes, Edward E Lawler III

“HR Should Own Organizational Effectiveness”

Nearly one half of respondents rated

their HR department as

‘ not ready ’ to reskill itself to meet

today’s business needs.

and

Only 8% of HR leaders have confidence in their HR teams

skills and abilities to

– Gartner Research

Of Needs

Basic Operations

(HRIS, Records, Talent Acquisition, Compliance Tracking, Etc.)

Strategic Operations

(Culture, Performance, Engagement, Satisfaction, Employment Brand, Advising Talent Management, Succession Planning, Learning &

Development…)

General Operations

(Payroll)

Eliminate the Unnecessary

shed all the dead weight

2

We tend to be carried forward in life by the inertia of our past.

Not doing enough Doing too much

Expected Result

Actual Result

What Matters Most

Not doing enough Doing too much

What To Say No ToSweet Spot

We tend to use busyness

Organize the Informational

lay a foundation for insight

3

Cognitive Overhead

Insight Latency

Productivity Drag

Challenges You Face

• Unmanaged Silos of Data

• Sharing & Storing Sensitive Documents

• Inefficient & Manual Document Access

• Managing Audits, Retention, Due Dates

• Meeting Compliance & Policy Requirements

Store Search Share

$120 billion annually

spent on printed forms

Of businesses fail if they

suffer catastrophic loss

30-40% of time

Documents lost

every 12 seconds

Each lost document

What Is The Impact?

“What we expect to see is document management will be just like e-mail, where it’s going to be an essential capability that your

knowledge workers are going to require.”

-Gartner Research

What Is The Impact?

Signal to Noise Ratio

Should be

Centralized

Should be Accessible

Should be Reportable

Partnership

Automate the Operational

set yourself free to do great work

4

H Strategic

Operational

59% of firms with less than 1,000 employees plan to invest in human resources technology this year.

- TSCIU and HR Executive Magazine

v

59%

Simplicity beats functionality

-Bersin by Deloitte

Increase Business Value

of your current HR activities

5

Measure & Report

it’s internal marketing

6

Solve Meaningful Problems

think of HR like an internal business unit

7

Which key activities do

partners perform?

Revenue Streams? What bundles of products and

services are we offering to each Customer Segment?

Which customer needs are we satisfying?

How are they integrated with the rest of our business model?

Through which Channels do our Customer Segments want

How are we integrating them with customer routines?

What Key Resources do our Value Propositions require?

Our Distribution Channels?

Customer Relationships?

Revenue Streams?

What are the most important costs

inherent in our business model?

For what value are our customers really willing to pay?

For what do they currently pay?

Align With Strategy

Eliminate the unnecessary

shed all the dead weight

Organize your information

to lay a foundation for insight

Automate the operational

set yourself free to do great work

Maximize business value

align activities to strategic outcomes

Solve meaningful problems

learn to think, act, and win like a business

Measure and report

the value and impact of your work

ESCAPE ELEVATE

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Rusty Lindquist

VP of HCM Strategy & IP

BambooHR

@rustylindquist rusty@bamboohr.com

Angela Watson

Enterprise Account Executive

eFileCabinet

awatson@efilecabinet.com linkedin.com/in/angela-watson-5354903a

Questions ?