Firms value staff above IT, but HR remains low priority.
| Author | Townley, Gemma |
| Position | Information technology - Human resources - Brief Article |
Despite strong agreement that attracting quality people is vital for future success, businesses are continuing to put human resource strategy low down on their priorities, writes Gemma Townley
IT and e-business are far less important to the future of business than finding and retaining quality people. Research by the City Research Group for CIMA found that business leaders are much more concerned about their employees than their systems.
But HR issues were low down the list of priorities in business planning, suggesting that companies do not align their human resources strategy with attracting and keeping good people. This could be a matter of money -- 65 per cent of respondents offer "challenging opportunities" and the even more nebulous "intangible benefits" as reasons why people would want to work for their companies, while around 50 per cent offer share options and/or profit share.
"Directors obviously believe that the best way to retain high quality staff is not by throwing money at their employees, but by giving them the chance to stretch themselves in the existing work environment," explained Mike Jeans, CIMA president.
And businesses are not just looking for staff with technical ability. Leadership, vision, communication skills and swift responses were considered far more important than IT skills or even an understanding of the business or market sector.
Profitability is still the number one issue that businesses need to address to ensure success, but long-term strategic position and being innovative were valued more highly than human resources and customer focus. This suggests that companies are under pressure to reinvent themselves and to lead where they believe their customers want to go, rather than wait for feedback.
"Tomorrow's business leaders will need to master a portfolio of skills, encompassing traditional `soft skills' such as communication, but without neglecting sound business judgment and strategic vision," warned John Chester, chief executive of CIMA.
Other findings included:
* European executives work fewer hours and still run successful businesses, according to a global study of business leaders by CIMA. Some 83 per cent of top directors in France and 61 per cent in Germany work 50 hours a week or less. This compares with just 35 per cent in the US and 34 per...
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