Three-part HR plan revealed in Boston Consulting study
A new report by Boston Consulting Group (BCG) and the World Federation of People Management Associations (WFPMA) entitled Creating People Advantage 2021: The Future of People Management Priorities identifies digitization, talent, and the future of work as the immediate priorities for HR executives especially in the UAE.
The report ranks 32 people management topics on two levels: the future importance of each topic, and companies’ current capabilities for addressing each one. By assessing these in tandem, the authors of the report were subsequently able to highlight three areas where the need for innovative action is essential:
Digitization, including the implementation and continuous use of new technologies such as people analytics, cloud-based applications, AI, and robotics;
Talent, comprising strategic workforce planning, leadership development, upskilling and reskilling, and working with an ecosystem of employees, contractors, and other types of labour. Crucially, UAE respondents ranked future importance of talent ecosystem management much higher in comparison to the global average; and
The future of work, including more agile HR, the incorporation of “smart” work, and change management.
Another key finding in the report is the need to create personalized experiences for employees. Many UAE survey respondents reaffirmed their belief that focusing on employee needs and expectations is a key success factor in the intensifying competition for talent, underscoring the importance of an employee-centric approach with a strong emphasis on the following:
Implementing digital tools that offer a seamless, personalized experience and ensure daily tasks are made easier.
Clear concepts for how best to organize remote work, actively incorporating and addressing the needs and aspirations of employees.
Business leaders demonstrating genuine appreciation for employees and actively engaging with them through, for example, personalized ‘thank you’ messaging in light of work-related achievements.
While BCG and WFPMA have collaborated on similar studies since 2008, this latest analysis represents the most comprehensive between the two parties to date. The authors surveyed 106 UAE respondents – 64 percent of which currently hold HR positions – with 57 holding managerial or senior managerial positions at leading companies and startups nationwide. While the majority of respondents are based in energy and the public sectors, the total number of industries represented via the respondents was nine, including business services, consumer, technology, health, finance, media, and non-profit.