In today's business environment, margin and growth pressures are requiring businesses to operate efficiently, build new capabilities, and create a culture to drive growth. We find there are 3 key challenges that organizations are faced with:
Assess, select, and reward talent that will improve customer retention, share of wallet and new customer acquisition.
Create a digital workforce, deliver a “consumer" level experience to employees, and develop an agile workforce and operating model.
Create a risk culture, reward appropriate level of risk taking, and assess and select employees that match the organization’s specific profile.
Growth, in particular, is top of mind for most leaders and includes both organic growth and growth through acquisitions. In three separate studies conducted by Aon Hewitt last year alone, we found that the top two business outcomes organizations are driving are “profitable growth" and “revenue growth" (in that order). In our experience, a majority of the changes that drive growth most often stem from the areas of human capital, organizational effectiveness, and compensation and incentive redesign – all areas that are immediately within the influence of a CHRO and his/her HR department.
of executives say chosing growth levers is harder now than it was a decade ago1
difference in NPS score for high growth organizations vs. average organizations2
of the Fortune 1000 firms have disappeared in the last 10 years 3
Too often though, we find that an organization's human capital investment is not linked to business strategy, despite people being their largest expense as well as their biggest asset. Lists of HR programs are mistakenly assumed to constitute a strategy, and more often than not, programs are frequently set in motion without a clear connection to what will drive business results. Against this context it is imperative for organizations to have a strong alignment between their business and human capital strategies, and Aon Hewitt's Human Capital Strategy methodology helps organizations do this by focusing on the specific levers they can use to impact business performance.
Our approach uses people analytics to fuel an organization's talent strategy and maximize business performance. By using data as a starting point, we enable organizations to establish a clear link between their human capital strategy and business strategy with the goal of making business and HR priorities transparent and actionable.
The methodology we follow provides organizations with a clear framework for developing a talent strategy that drives business outcomes.
Unpack the Strategy & Identify the Gaps
We identify the capabilities & skills required to achieve your business goals. By unpacking your strategy with questions/insights, comparing them to external best practices, & identifying the gaps through people analytics, we provide a streamlined narrative to connect the business goals to your strategic HR initiatives.
Define the Human Capital Strategy
By linking your HC strategy to business strategy, we ensure that your talent mix reflects required capabilities & skills. We shape your HC strategy by developing your plans in Workforce & Org Design, Acquisition & Development, Total Rewards, Leadership, & Culture; giving you clear areas of focus.
Identify Program Priorities
We help build HR programs that support the strategy, identify programs to start, stop, continue, or modify and in doing so, define the ROI of a three year plan. You will receive a prioritized list of HR programs, a three year roadmap, and funding allocation.
Identify Alignment and Readiness Needs
We assess organizational readiness and create change roadmaps that lead to change implementation and achieving strategic success measures. We do this by assessing alignment and readiness of both your HR function and overall business.
Workforce and Organization Design
Talent Acquisition and Development