There’s much food for thought but we were particularly struck by what the leader of Tesco Bank’s HR function had to say, words which had a very familiar feel:
Therese Procter, Personnel Director, Tesco Bank
For me, HR’s future can be summarised in two words: value and values. In the past, the value created by public and private sector organisations has been measured primarily in financial terms. Following the global economic crisis, however, organisations will be judged not only by the financial value they deliver – but also by the social value they create. Consequently the impact organisations have on the lives of employees and customers, on communities, and on the environment will be studied as closely as their impact on shareholder and taxpayer returns. This, in turn, will bring the values of organisations into far sharper focus, because how and why things are done will now be subject to the same level of stakeholder scrutiny as what gets done. I believe that progressive HR practitioners will play a pivotal leadership role in driving both financial and social value in this new era of values-led organisations.
This very much supports our conviction that HR will play a leading role in the eventual recovery of the more forward thinking organisations.
You can plug into what Ian and other HR strategists, practitioners and thinkers are saying by following this link to the CIPD site.