The HR Pulse Survey 2020 from KPMG comes at a time when the dynamics of the workplace is changing forcing HR heads across the globe to help minimize disruption and business impact.
COVID-19 has shaken the core paradigms of work and pushed organizations around the world to navigate an unprecedented time full of uncertainty and change. To understand how HR organizations around the world are responding to the crisis, KPMG conducted the 2020 HR pulse survey which captured the perspectives of almost 1,300 HR executives globally. The survey provides insights into how HR executives around the world are managing the continued uncertainties and re-thinking in the areas of workforce-shaping, purpose-driven culture, employee experience, data & analytics, enabling technology, and the HR organization of the future.
Some key highlights of the findings from the survey are as follows:
- 95 percent of CHROs feel that HR has played a leading role in their organization’s response to the impacts of COVID-19
- 62 percent of respondents say a skills shortage is preventing their organization from keeping up with the pace of change
- 60 percent CHROs feel that their HR function needs to completely reinvent and transform itself.
- 54 percent of respondents ranked investing in new learning and development platforms and virtual working technologies among top technology investment priorities
- 39 percent of respondents reveal that their organizations will continue to work remotely.
- 38 percent of HR respondents are helping leaders in their organizations develop new management and leadership skills to support remote working
Vishalli Dongrie, partner & head – people and change, KPMG, India says, “To help organizations manoeuver an economic downturn, HR had to wear its strategic hat and partner in business decision-making, keeping people at the core and pivoting on evolving financial imperatives.”
After having successfully led the workforce through the crisis, it is time for HR to focus on the long run and to establish itself as a preeminent value driver for business. HR functions need to bring lasting business value by getting the most from people and technology. A business requires the support of a transformed HR function to drive a culture of innovation and enables newer ways of collaboration.
The pandemic has amplified many of the challenges already facing the organizations and has also exposed the need for workforce reskilling, maintaining positive employee experiences, and accelerating digital transformation. While HR has taken the center stage in guiding the organization towards managing the crisis effectively, there is a need for HR to reinvent itself to be able to add lasting business value by building the workforce needed to compete in a digital future.