Thinking in terms of structures, culture and technology can help you shape your efforts to capture the full value of your transaction or transformation. By asking yourself the questions below, you can get a feel for how to effectively deploy talent, align your workers’ skills with what’s needed in the future, and equip yourself with new tools, such as machine learning, to improve performance.
Leading companies shape an organization’s structure and hone talent capabilities that deliver on the business strategy, with HR activities offering measurable support. But, too often, in the wake of a transformation or a transaction, organizational structures are no longer clearly defined and are misaligned with new business goals. Maybe — and understandably — a company has been focused more on rethinking customer-facing activities instead of the employee operating environment. But, as one example of a potential pitfall, having workers in new locations requires aligned tax, legal and other functions to address regulatory requirements efficiently. Consider:
Recruiting job candidates takes time, money and effort, and, after a transformation or a transaction, your employees may feel unsettled or unclear about their place in the company, or its overall direction and purpose. It’s always important to plug talent gaps and retrain, upskill and reskill your workers.
And, as your company repositions itself through transformations and transactions and pursues business in new markets, these issues gain greater importance. Keeping your professionals engaged with a clearly defined purpose has a bottom-line impact: business units in the top quartile of employee engagement are 22% more profitable compared with those units in the bottom quartile. Think about:
After a transaction, too many companies labor under misaligned or outdated systems stitched together, and the fallout can be measured in inefficiencies and delays. If they’re not considered holistically, transformations involving new technology can create new problems as you try to solve others. On the flip side, your ability to capitalize on your changes can be hindered if your technology remains substandard — for instance, in terms of recruiting and retention, millennials are the most likely age group to quit their jobs because of outdated tools, with 82% citing this factor1 as one that influences their choice of employer.
Meanwhile, new workforce tools include software that tracks employee movements needed for day-to-day operations in your changed company, data-driven platforms that allow you to operate more on evidence than assumptions, and planning environments that help you see the impact of planned future states. Some crucial areas:
1“Future Workforce Study Global Report,” Penn Schoen Berland with Dell and Intel, 2016.
Considering the questions above can get you to think more holistically about linking business objectives with people strategies. Your employees are your business: how well it connects with customers, turns strategies into reality and sparks innovation. Whether you’re embarking on a transaction or transformation or have already completed one, strengthening each link in your labor value chain demands a holistic approach driven by an optimized organizational design and analytical insights.