Business Acumen For Hr

If you prioritize business acumen as a core competency and can define what exactly that means to your organization this trait will continue to be cultivated within employees.

Business acumen for hr. According to consultancy uk korn ferry reports that chros may be lacking in a specific area of human resource skills as they re seeking new positions or promotions in fact business acumen is the most lacking skill when looking for top level hr talent that one critical skill outpaces all others with 41 percent of chros citing business acumen as their most desired skill. This amounts to a kind of hr business acumen that you apply to ensure team members brought into the company exhibit the skills that can make them successful. Hrbps can maintain a seat at the table by using business acumen.

You probably have a list of behaviors and characteristics that you require your employees to demonstrate. But what exactly is business acumen. By changing perceptions hr increases the chance that they will be asked to contribute to the company s big decisions and long term plans.

Business acumen 101 today s objectives reviewing why knowing our business is important understanding the past present and future and hr s obstacles in being valued by executive management learning what is business acumen how is it used in the shrm certification process what are key metrics business lingo and expectations of our key hr. The society for human resource management shrm finds that business acumen trails only leadership and ethics as an essential executive quality. I propose a simple evaluation for business acumen.

Establish business acumen as a core competency. Having business acumen allows hr professionals to change senior management s perceptions by demonstrating that they are a fellow businessperson who understands the business its environment and challenges. Digital acumen and business language knowledge.

But honestly it can be challenging to develop business acumen. Imagine that an interview is taking place for an executive level or board of directors position and that that. The implementation of an effective business acumen plan and hr elevates these concerns.

It s probably not a surprise to anyone but business acumen is one of the behavioral competencies in the society for human resource management shrm competency model. In august 2019 josh bersin wrote an article in human resource executive titled 8 skills hr business partners need for success among the eight skills described his article listed two critically important individual competencies.