Human Financial Capital

  1. Does the HR function and it’s leaders demonstrate the competencies outlined in the SHRM Bask business cluster? Specifically address the key concepts and skills outlined for leaders in Business Acumen, Consultation and Analytical Aptitude. Cite specific examples, programs, projects or initiatives that indicate proficiency. Alternatively, provide insight into the gaps in proficiency that exist.
  2. Write a reflection on the current state of HR’s relationship with the C-Suite leaders (CEO, CFO, COO, CAO) and whether or not HR is considered to be a key player at the decision-making table with regard to the development of corporate strategy. Does HR presently participate in the strategic planning process and from your knowledge what efforts has the function made to align HR programs and initiatives with business strategy?
  3. Discuss the last project or program that HR proposed to the organization for proposed implementation. How did HR support its argument to implement and was quantitative business analysis used to present the proposal to organizational leaders? What decision did the organization make on the program?

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Sample Answer

 

 

 

Business Acumen

Business acumen is the ability to understand and apply business principles to solve problems and make decisions. HR leaders who demonstrate business acumen are able to:

  • Link HR strategies and initiatives to the overall business strategy
  • Understand and interpret financial data
  • Identify and assess business risks
  • Make sound business decisions

Specific examples of programs, projects, or initiatives that indicate proficiency in business acumen:

  • Developing and implementing HR strategies that support the company’s business goals
  • Using data and analytics to inform HR decisions
  • Creating and managing HR budgets

Full Answer Section

 

 

Consultation

Consultation is the ability to work with others to identify and solve problems. HR leaders who demonstrate consultation skills are able to:

  • Build and maintain relationships with stakeholders
  • Actively listen to and understand the needs of stakeholders
  • Collaborate with stakeholders to develop and implement solutions
  • Provide effective feedback and coaching

Specific examples of programs, projects, or initiatives that indicate proficiency in consultation:

  • Facilitating meetings and workshops with stakeholders
  • Conducting surveys and interviews to gather feedback
  • Developing and implementing communication plans
  • Providing coaching and development to HR staff

Analytical Aptitude

Analytical aptitude is the ability to collect, analyze, and interpret data to make informed decisions. HR leaders who demonstrate analytical skills are able to:

  • Use data to identify trends and patterns
  • Conduct research to inform HR decisions
  • Develop and implement metrics to track HR progress
  • Evaluate the effectiveness of HR programs and initiatives

Specific examples of programs, projects, or initiatives that indicate proficiency in analytical aptitude:

  • Conducting data analysis to identify areas for improvement in HR processes and programs
  • Developing and implementing metrics to track the impact of HR initiatives on business outcomes
  • Evaluating the ROI of HR programs and initiatives
  • Conducting research to identify best practices in HR

Gaps in Proficiency

While HR leaders are increasingly demonstrating proficiency in the competencies outlined in the SHRM BASK business cluster, there are still some areas where there is room for improvement. For example, some HR leaders may need to develop their skills in data analysis and financial management. Additionally, some HR leaders may need to become more involved in the strategic planning process and in aligning HR programs and initiatives with business strategy.

HR’s Relationship with the C-Suite

HR’s relationship with the C-Suite has evolved over time. In the past, HR was often seen as a support function. However, in recent years, HR has become more strategic and has played a more important role in the decision-making process.

Today, many HR leaders have a strong relationship with the C-Suite. They are seen as trusted advisors who can provide valuable insights and recommendations on a variety of business issues.

Is HR Considered a Key Player at the Decision-Making Table?

Whether or not HR is considered a key player at the decision-making table depends on the organization. In some organizations, HR is actively involved in the strategic planning process and in making key business decisions. In other organizations, HR is still seen as a support function and is not involved in the decision-making process to the same extent.

Does HR Presently Participate in the Strategic Planning Process?

In many organizations, HR does participate in the strategic planning process. HR leaders can provide valuable insights into the workforce and how HR programs and initiatives can support the organization’s business goals.

Efforts HR Has Made to Align HR Programs and Initiatives with Business Strategy

HR leaders have made a number of efforts to align HR programs and initiatives with business strategy. For example, many HR leaders have developed HR dashboards that track the impact of HR programs and initiatives on business outcomes. Additionally, many HR leaders have partnered with business leaders to develop and implement HR strategies that support the company’s business goals.

Conclusion

The HR function is increasingly demonstrating the competencies outlined in the SHRM BASK business cluster. HR leaders are playing a more strategic role in organizations and are becoming more involved in the decision-making process. However, there is still room for improvement in some areas, such as data analysis and financial management. Additionally, HR leaders need to continue to partner with business leaders to ensure that HR programs and initiatives are aligned with business strategy.

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