Press Release - The Future of HR


Published on

Press release for launch of Fast Future foresight study on the Future of HR - commissioned by Hyland Software.

Published in: Technology, Business
  • Be the first to comment

  • Be the first to like this

No Downloads
Total views
On SlideShare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide

Press Release - The Future of HR

  1. 1. Email title – <br />Press Release – Launch of ‘The Future of HR’ – a New Foresight Study from Fast Future<br />The Future of HR – Aligned, Connected and Responsive<br />90 percent say the journey from transactional to strategic is the biggest challenge<br />New study highlights foresight, strategic alignment, personalized services, managing complexity, innovation and flexibility as key priorities for tomorrow’s HR Function<br />London 6th October 2011. Fast Future Research today announced the launch of a new foresight study on the Future of HR in medium to large enterprises. The research was commissioned by Hyland Software, a leading specialist in transactional electronic content management (ECM) and can be downloaded here. The report entitled The Future of HR – Transformational Thinking for a New Era in Business explores the priorities, opportunities and challenges facing HR as it defines its role in tomorrow’s organization.<br />The study identifies the critical drivers of change for business and the HR function through a combination of extensive desk research, expert interviews with leading thinkers from organizations like Starbucks, Manpower and Enterprise Rent-A-Car and a global survey to. The report then goes on to define seven critical enablers of HR transformation.<br />The global survey received 226 responses from 42 countries, with 32 percent of respondents working in HR and the 68 percent working in other functions across the organisation. Key survey findings were that, over the next decade:<br /><ul><li>Key Challenge – 90 percent of respondents agreed that ‘The biggest challenge for HR in most organizations will be to bridge the gap from a transactional function to a strategic business partner’.
  2. 2. Strategy - The highest ranked future strategic priority for HR was ‘Aligning HR and talent strategies with business strategy’ (73%)
  3. 3. Partnership -‘Becoming a strategic partner, coach and mentor and developing HR as a source of competitive advantage’ was identified as the most critical role for HR over the next decade (62%)
  4. 4. Flexibility – There was clear recognition of the need for HR to innovate and adapt to new ways of working with overwhelming support for the idea that ‘Over the next decade, HR will increasingly be asked to support and administer ‘work swarms' where temporary and ad hoc groups form to complete a task - with members drawn from multiple organizations.’ (81%)
  5. 5. Leadership - The highest ranked leadership priority for HR was developing leaders capable of ‘Managing, motivating and integrating a multi-generational workforce’ (58%), followed by the need to ‘Build management and leadership capability to manage an increasingly global and diverse workforce’ (57%).
  6. 6. Employees - ‘Maximizing individual talent, competence, commitment, and contribution’ was rated the top employee support priority (56%)
  7. 7. Social Media - There was strong agreement that ‘Over the next decade, firms will pay increasing attention to a candidate's social media ‘influence rankings' when recruiting’ (70%)
  8. 8. Technology - The key priority from an HR technology perspective was ‘Enabling the workforce to stay operationally and culturally connected in remote locations’ (52%)
  9. 9. Efficiency – There was widespread agreement that ‘Over the next decade, concerns over cost control, efficiency, compliance, data protection and records management will drive automation and rapid adoption of document and workflow management solutions.’ (90%). </li></ul>“This new research clearly shows that while there are – and will continue to be - many global HR issues that are crucial to the boardroom agenda, HR departments must consider the practical steps needed to build deeper strategic insight, drive closer business alignment and adapt to changing business needs. Yet the speed with which such activities are initiated means that HR must also look at its own effectiveness in terms of service delivery, speed of response, process execution, workflow automation and cost control.” said Mark Greatorex, director, Hyland Software.<br />The report goes on to highlight seven critical enablers of the transformation to a truly strategic service function:<br /><ul><li>Developing Business Awareness and Foresight
  10. 10. Nurturing Talent
  11. 11. Coping with Uncertainty and Complexity
  12. 12. Embracing Multi-Faceted Diversity
  13. 13. Enabling Self-Service and Personalization
  14. 14. Driving Cost Control and Efficiency
  15. 15. Embedding Flexibility and Innovation</li></ul>“We are entering a very turbulent phase for the world economy and global businesses. The importance of attracting and developing the right talent across the organization has never been more critical. HR needs to acknowledge the strategic opportunity and transform itself to survive, thrive and add value in an increasingly complex and fast changing business environment.” said Rohit Talwar, CEO of Fast Future and co-author of the report.<br /><ul><li>Ends –</li></ul>A full copy of the research white paper ‘The Future of HR - Transformational Thinking for a New Era in Business’ can be downloaded here<br />For further information on the study contact:<br />Rohit Talwar<br />CEO – Fast Future Research<br />Tel +44 (0)7973 405145<br /><br />For more information about Hyland Software and its OnBase electronic and process document management solution, go to<br />About Fast Future Research<br />Fast Future is a global foresight research and consulting firm that works with clients around the world to help them understand, anticipate and respond to the trends, forces and ideas that could shape the competitive landscape over the next 5-20 years. Fast Future undertakes in-depth research studies and strategic consulting studies for clients in global corporations, government and the nonprofit sector around the world. Fast Future’s work draws on a range of proven foresight, strategy and creative processes to help clients develop deep insight into a changing world. These insights are used to help clients define innovative strategies and practical actions to implement them. Clients include 3M, Astra Zeneca, E&Y, GSK, Hyland, IBM, Intel, KPMG, Nokia, Novartis, O2, Orange, PwC, SAP, Sara Lee, twofour54 and the OECD. Fast Future also works with a range of city and national level government entities around the world.<br />About the Hyland Software solution, OnBase:<br />One of the world's largest independent electronic and process document management software vendors, Hyland Software is the developer of OnBase. An award-winning suite of document and process management solutions, OnBase has a proven record of solving problems resulting from time consuming, costly and error plagued manual tasks. Available on-premises or as software as a service (SaaS), OnBase installs quickly, cost effectively and is designed to grow with organisations. Today, people at more than 10,000 organisations in 67 countries have the time to do the things that really add value thanks to OnBase. For these and other successes in its 20 year history, Hyland Software is a Leader in the Gartner Magic Quadrant for Enterprise Content Management, 2010. For more about how document management software is helping organisations to solve their operational problems, go to<br />