HR Managers as Entrepreneur - UNDERSTANDING YOUR BUSINESS FOR STRATEGIC HR DECISIONS.pdf

Book

1. HR MANAGERS AS ENTREPRENEUR:
Understanding Your Business for
strategic HR decisions
…we deliver value through people
Delivered By:
Dr. Umar F. Mohammed, FCIPM
GM Human Resources & Admin
Tropical General Investment (TGI) Group
July 2024

2. Agenda
•Building a culture of innovation
within the HR department
•Q & A
•Importance of Strategic HR Business Partnership
•Aligning HR Strategies with Business Strategy
•key business metrics and their impact on HR
•The entrepreneurial mindset in HR
•Examples of entrepreneurial HR initiatives
•Practical steps for HR managers to measure the impact of HR
strategies on business performance

3. Importance of strategic HR business
partnership
Strategic HR business partnership means HR professionals working
closely with business leaders and managers to make sure HR strategies
match the organization's goals. This is important in today's fast-changing
business world because it helps in making better decisions, increasing
employee involvement, reducing risks and costs, and encouraging
innovation and change.

4. Aligning HR strategies with business
strategy
Aligning HR strategies with business strategy is crucial for HR to
effectively contribute to organizational success. Key steps to achieve
alignment include comprehending business goals, talent planning,
acquisition, and retention, cultivating HR goals in line with business
objectives, focusing on employee engagement and culture, and
implementing metrics and evaluation.

5. Key business metrics and their impact on HR
Understanding key business metrics is crucial for HR to align its strategies
with business objectives effectively. Here are some key business metrics
and their impact on HR:
•Revenue Progression
•Profit Borders
•Customer Gratification
•Employee Turnover Rate
•Time to Market
•Productivity Metrics
•Operational Efficiency
•Market Share
•Innovation Rate
•Compliance and Risk Mitigation

6. “Entrepreneurial Mindset are
like natural resources; they’re
often buried deep. You have to
go looking for them; they’re not
just lying around on the
surface.”– Ken Robinson

7. Examples of Entrepreneurial HR Initiatives
Some examples of entrepreneurial HR initiatives that demonstrate
innovation, agility, and strategic impact:
•Reverse Coaching: Provides mentorship and skill development
•Personalized Learning: Technology-driven on-the-go training.
•Employee Recognition: Boosts morale and engagement.
•Hybrid Workplace Design: Accommodates in-person and remote
employees.
•Collaborative Work Platforms: Enhances communication and project
management.

8. Practical steps for HR managers to measure the
impact of HR strategies on business performance
Practical steps that HR managers can take to measure the impact of HR
strategies on business performance include, but are not limited to, the
following:
•Turnover Rate
•Time-to-Hire
•DEI Metrics
•Retention Rate
•Cost-per-Hire
•Engagement Rating
•Training Completion

9. “Embrace innovation within HR:
Align leadership, foster
curiosity, collaborate across
functions, experiment
fearlessly, and celebrate
progress!”

10. Thank You!