Becoming an Effective HR Business Partner | HR Exchange

HR Effectiveness

The importance of the HR Business Partner (HRBP) role continues to rise in many organizations. This perception is largely due to HRBPs increasingly tying HR strategy and actions to business strategy and driving value to their organizations. And while it might be misconstrued as HR 101, this article highlights four actions that HRBPs can take as they continue to focus on the “Business” component of the HRBP role. 1) Spend most of your time and effort in understanding the company and/or division’s business-related matters, and how HR might facilitate them, rather than focusing heavily on HR programs and services. 2) Enhance your practical knowledge or acumen in the financial, operating, and strategic aspects of the business, such as sales and revenue, R&D and Product Development, and Manufacturing, 3) Understand the specific financial, operating, and strategic business objectives for the company in the upcoming fiscal year that top management is committed to achieving for the Board of Directors and shareholders. 4) Identify and implement innovative HR projects that are directly related to the achievement of a specific business objective and that result in increasing sales, improving cash flow, reducing costs, improving productivity, enhancing customer care, fostering new product development and market introduction, and so on. With advances in people analytics, I am excited about how the HR function, not just HRBPs, can enable business performance through HR and talent strategy. For HR professionals looking to develop greater capability in this area, you should read the book Financial Analysis for HR Managers. You can also read my article, Linking Talent Strategy with Business Strategy.

Leave a Reply

Your email address will not be published.

[class^="wpforms-"]
[class^="wpforms-"]