Optimising how work gets done, addressing skill gaps, ensuring leaders are effective and focusing on people sustainability are the four key trends in addressing challenges facing human resources (HR) professionals.
Regional Head of APAC, CIPD May Leng Kwok said this in her keynote address on ‘Navigating HR in the New World’ at the INITIATE 2023: Human Capital Summit at the Indera Samudra Grand Hall, The Empire Brunei yesterday.
She added, “Talent is scarce and it is important to focus on making the most out of the talents you have so that they stay on and keep the organisation progressing in the right direction. “
She also spoke on the knowledge gaps in HR professionals.
“Firstly, business acumen. Ninety per cent of businesses feel that HR professionals need to have business acumen, but only 42 per cent of business leaders feel that HR professionals have it,” she said. “This is the ability to understand what the organisation wants and align resources to that agenda and drive the key performance index matrix.”
She added, “Secondly, analytics and creating values. Some 96 per cent of HR professionals identify using data and analytics as appropriate development areas. However, only 24 per cent already have these skills in-house.
“Meanwhile, 98 per cent of HR practitioners aspire to build a positive learning culture but only 36 per cent have achieved it.”
She also touched on the reality that the world is facing where a third of the world economy is expected to be in recession this year while 1.1 billion jobs could be transformed by technology over the next decade and 70 per cent of the global jobs and gross domestic product will come from small and medium enterprises.
She said 79 per cent are disengaged employees, resulting in 40 per cent of employees planning to leave their job in the next six months.
Currently, she added, some 64 per cent of employees have stated flexible working is a deal breaker.
The summit features a line-up of 30 speaker sessions and six workshops, anchored by three themes – employee experience and wellness, talent transformation, and championing learning and development.
Meanwhile, in an interview, Progresif Sdn Bhd Chief of Human Resources Mohammad Yazdi bin Haji Yahya said, “The idea (of the summit) is to engage and connect.
“We brought in local and overseas speakers to share the best practices that can be applied to different organisations.
“Therefore it is important to engage with a diverse pool of speakers from various industries.”
He added, “The world of HR experienced huge changes recently brought about by rapid changes in technology and the COVID-19 pandemic.
“Multiple factors are driving changes in HR now. We need to realise that HR in Brunei is not excluded from the changes; we are impacted. We need to take into account the new generation of people joining the workforce. These are some of the key trends that require HR to transform. If we don’t transform, we will be left behind.” – James Kon
