Human Resource Consulting Group 2 | Team 8. Agenda What is HR consulting? Global HR consulting...
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Transcript of Human Resource Consulting Group 2 | Team 8. Agenda What is HR consulting? Global HR consulting...
Human Resource Consulting
Group 2 | Team 8
Agenda
• What is HR consulting?
• Global HR consulting companies
• Different HR functions outsourced by a company
• Services across HR value chain
• Strategic HR consulting
• Future of HR consulting
What is HR Consulting?
HR consulting is a branch of management consulting that
focuses on the process of effectively utilizing personnel to
obtain the goals of an organization.
HR Consulting
Human Capital
Health & Benefits
M&A
Communication
Retirement
Outsourcing
Evolution of HR
Top global HR consultancy firms
Company Name Revenue No. of full-time HR consultants
Mercer $2.4 billion 9000
Deloitte $1.587 billion 8091
Watson Wyatt $1.39 billion 6300
Aon Consulting $1.28 billion 6500
PwC $1.1 billion 5350
Towers Perrin $1.027 billion 2090
Hewitt Associates $ 861.8 million 1700
Hay Group $ 389 million 1650
Segal Co. $ 180.2 million 800
HR functions outsourced by a company
• Compensation & Benefits• Payroll• Recruiting and Workforce planning• Learning / Development• Performance Effectiveness• Workforce Administration• Workforce Relations
HR value chain
Human Resource Planning
Human Resource
Acquisition
Compensation & Benefit Planning
Training, Education & Department
Workforce Management
Performance Management
Separation Management
1. Recruiting/Sourcing Strategy
• Mapping Business Strategy to HR Strategy
• Recruitment Planning and Roadmap
-Talent Demand & Supply Modeling and Analysis
• Company Brand As Perceived by Prospective Hires
• Cost Optimization For Sourcing
2. Compensation & Benefits
• Compensation and Benefits Benchmarking Study
• Compensation Structuring/Re-structuring
• Benefit or Variable Pay-Plan Designing, Structuring and Re-structuring
• Compensation and Benefits Scenario Modeling
- To analyze impact of pay variation on cost structure
3. Training/Education/Development
• Skills Map and Gap Analysis
• Benchmarking Studies
- Training and Development Benchmarking
• Learning Management System Design
• Career Development Program Designing
Employability Skills Map
Source: University of Kent
Gap analysis
Steps involved in Gap analysis
Formation of databaseIdentify gaps, training needs
Conduct an inventory of existing skills
Interviews, Focus groups meetings
Develop job profiles and Identify critical skills required
Review current position descriptions for future needs
Data Collection and Analysis
Employee competencies, critical skills
Identify the needed skills
Mission, business goals, procedures and processes in place
4. Workforce Management
• Strategic Workforce Planning
- Talent Supply Modeling – Demand Vs. Supply
• Global Grading System
- Global Job Evaluation Mapping – Levelling jobs across functions,
business units and countries
• Succession Planning
• Retention Planning
- Also includes Attrition Cost Modeler and Employee Engagement
Study
• Employee Satisfaction Study
5. Performance Management
• Cascading Alignment/Design
- Alignment of Personal and Business Goals
• Performance Measurement System
• KRA Design
Microsoft Office Word 97 - 2003 Document
6. Separation Management
• Separation Management System Design
• Exit Diagnostics
– Root Cause Analysis (Also includes Root Cause Modeler)
Strategic Human Resource Management
Strategic HRM addresses broad organizational issues relating to organizational effectiveness and performance, changes in structure and culture, matching resources to future requirements, the development of distinctive capabilities, knowledge management and the management of change
Need for Strategic HR Consulting
• People have become source of competitive advantage
• Integration of HR considerations with other physical, financial, and technological resources
• Smoothening change management process
• Succession planning
• Employee engagement for productivity increase
Steps in strategic HR Consulting
Follow-up and evaluation
Project implementation
Preparing action plans
Change management processes
Assessment of potential barriers to implementation
Communication of intentions and their rationale
Formulating strategy and spelling out its aims, cost and benefits
Rigorous Initial Analysis viz. SWOT and PESTEL
Future of HR Consulting
• Rising importance of Human Resource Management
• Increasing Complexity in Human Resource Management
• Research and development in HR Practices by Consulting firms
• High demand of HR consulting services
Thank You