Critical Steps Asia's HR Professionals Must Take

According to a recent perspective by SilkRoad, a global provider of cloud-based social talent management software, organisations throughout Asia Pacific fail to view their HR function as a strategic business partner or understand the importance of their talent management strategy.

The State of Talent Management 2014 - The Asia Pacific Perspective shares invaluable insights and talent management best practices from industry experts and HR practitioners in key markets across the region, including:

• David Guazzarotto, CEO of Future Knowledge
• Mark Kidd, Managing director of Matrixione
• Darryl Parrant, managing director of Align HR Group
• Pamela Dua, Regional Group Director for Human Resources at Pico Art International Pte Ltd
• Hans Montenegro, Director of HR Operations with Convergys
• Richard Parker, General Manager of HR and Shared Services with New Zealand's largest TV network, TVNZ
• Simon Prior, Head of Leadership & Learning for Asia Pacific with Dentsu Aegis Network

The perspective provides advice on how to implement integrated HR technology; gain accurate data to improve organisational transparency; convert data-driven insights into strategy and secure a seat at the table by creating a strategic vision. 

SilkRoad Senior Vice President and Director for Asia Pacific, James Hewitt, said, "A recent industry survey revealed approximately 49% companies in the region lack a formal written HR strategy, which goes some way to explaining why the function continues to struggle to be viewed as a strategic partner to the business. In order to earn a seat at the table, it is critical that HR develop a robust HR and talent management strategy in order to help achieve business objectives, build the bottom line and deliver sustainable growth."

One of the leading industry experts providing commentary in SilkRoad's perspective, David Guazzarotto, CEO of Future Knowledge, agreed, "Talent management should be a key driver of organizational success, not a footnote or an afterthought: it should be viewed as one of the most important business strategies to get right. It's time for HR professionals to upgrade their skills and to take their place at the executive table."

The perspective outlines the following seven key steps that HR need to embrace in order to earn a seat at the executive table:

Learn about the business: It's vital that HR leaders learn the business at all levels. Understanding the business strategy is the first step towards contributing to the organisation in a meaningful and positive way. Learn how to read a P&L sheet, be strategic with human capital and mitigate against risk. Compliance and good corporate governance skills are also a must.

Develop a robust HR technology infrastructure: Technology is critical in shaping the role of HR, automating key processes and protocols, freeing up time spent on manual labour to focus on more strategic activities. A seamless HR ecosystem means an HR leader with time to look at the big picture.

Ramp up your talent acquisition program: Attracting top talent is critical to organisational success, and increasingly difficult due to the shortage of talent and high attrition rates. Social media is an excellent source of candidates, offering access to both active and passive jobseekers. Technology streamlines the sourcing process, while E-recruitment tools offer assessment tasks that can help develop shortlists. Combined, both tools save time that can be spent on more strategic activities.

Embed performance management: Performance management is often a tactical, annual function that is often viewed negatively throughout the organisation. An embedded approach is required to support goals and employees must understand corporate objectives and how each team member contributes to the bottom line. Technology automates the process, provides better tools to engage staff and encourages regular and ongoing interaction while driving development of future capabilities.

Introduce meaningful learning programs: Companies vary in their approach to L&D - many still favour formal face-to-face learning, while others are exploring social media learning tools. Results depend on roles, industries and markets but a combined approach delivers success.

Engage employees throughout the lifecycle: Employee engagement is critical in Asia Pacific, with the region registering the highest attrition rates ever this year. One-off programs are not enough - engagement should begin with recruitment and on boarding, where the first six months are critical, and continue throughout the lifecycle to make employees feel valued.

Ensure regulatory compliance: Compliance regulations are evolving at a rapid pace, with new regulations introduced in all Asian markets and companies also liable under global legislation. Robust compliance programs are vital, to raise awareness, train employees and ensure proper reporting. Technology can mitigate the risk by systemising compliance processes and automating reporting requirements.