These days, technology spreads faster than fire in the jungle. Technology expertise being the first and foremost competency factor; it is crucial for HR practitioners to have good knowledge about HRM and related technology. They may not be using the technology every day, but having the expertise is essential. So, a superficial understanding about the software programs and knowing various tactics can facilitate HR at every step of their journey, starting from practitioners to professionals.
Strategic Thinking & Implementation
This aspect deals with setting objectives that support mission of the organization, making long term decisions and ascertaining implementation tactics for achieving goals. HR professionals deal with lot of issues every day that may need immediate attention, so long term thinking can always prove productive in such a scenario. And as Stephen Covey suggests, when laying the foundation, always make sure things go in a way that responses become quick and not reactive in future.
To make a strategic plan work successfully, it is important to have the right action steps and accountabilities in place. In addition, HR professionals should also have good plans for implementing their strategies and for this, they need to be competent enough.
While some people think that Business Acumen is all about taking right decisions, it is actually a deep understanding of the fact that how HR decisions affect other departments of the organization. For example, decisions taken by HR for selecting candidates affects the level and amount of training in which managers should invest, thus affecting the overall budget.
Now this, budget may also incorporate opportunity cost for the new employees. This means one HR decision has an undulating affect on the entire organization. So, it is crucial for HR professionals to stay abreast with latest updates in the market, competition and industry-wide changes.