More than half (59pc) of Irish companies are not using benchmarking metrics of any kind to assess the value their people bring to the organisation, but 19pc say they plan to in the future, a survey released by PricewaterhouseCoopers (PWC) has revealed.
The HR Cost or Investment survey carried out in February/March of this year aims to identify the changing role of the human resources (HR) function within Irish organisations.
The survey reveals that the most important HR priority by far over the next 12 months, indicated by 57pc of the respondents, is the reorganisation of business processes to better meet customer needs and reduce costs.
This was followed by ensuring the availability of appropriate talent and skills (38pc) and transforming the existing HR function (33pc).
“The survey confirms that the role of HR is changing significantly, with many HR professionals expecting to help drive the business transformation agenda in the future,” said Ciara Fallon, People & Change senior manager, PwC.
“However, for HR to play a really strategic role in servicing business needs and deliver long-term sustainability and value, it must work in partnership with the business and ensure that the people assets and infrastructure within the organisation are fully leveraged.
“The survey results further highlight that engagement by the business in the people agenda remains a key HR challenge. This is not entirely surprising given the current business conditions and competing priorities, but now is precisely the time when this partnership is needed more than ever to drive recovery and future growth.”
Mark Carter, HR services partner, PwC added: “The survey findings for Ireland are consistent with the PwC 2011 Global CEO Survey finding that an overwhelming majority (83pc) of global CEOs are planning to make ‘some’ or a ‘major’ change to their strategies for managing talent.”