HR important? “Surely you jest”, you say. But I kid you not and the good folks at the McKinsey Quarterly support me. Now in the spirit of transparency I do have to admit that the McKinsey people did not say that directly. What they did say was found in a study entitled Why Good Companies Create Bad Regulatory Strategies. The study polled 1400 global executives in a number of companies and asked them what they thought was going to have the greatest impact on their companies in the future. The responded that after customers, regulations and employees were going to have the greatest impact. Did you read that? Regulations and employees! I hope these executives paid attention to their own voices. This is the realm of HR and they need to be paying attention to it.
One of the other things this survey talked about was the importance of scenario planning. The authors state that executives are often unprepared for the impact that regulation may have on their companies. They suggest that companies follow the example of other companies and hold monthly contrarian scenario meetings. HR could certainly do this. Plan monthly sessions to discuss the impact of changes in government regulation, changes in NLRB actions, changes in social settings, changes in healthcare and other human resources related arenas.
Of course to do that kind of planning you have to be well read. And you have to be able to think ‘outside the box’… oh well never mind.
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