Elevating the HR Function - Part 1 of 2

Organizational capabilities are developed primarily through the development of human resources. Despite the enormous importance of human resources, many organizations treat the HR (Human Resource) Function as just another administrative function with high overhead costs. As a result, the HR Function is often targeted for outsourcing and downsizing; crippling it from its real potential for value-creation within the organization.

Do You Know Your Vital Few?

Assessing business health is no different than assessing your own personal health. It resides in a set of key metrics or vital few. For example, if you want to size up your personal health, you look at vital indicators such as blood pressure, glucose number, cholesterol, and pulse rate. You continue to monitor theses on a regular basis and if something goes outside the normal range, you take corrective action. So the question is why aren’t you doing this for your business?

Keep on Bootstrapping

Regardless of where your company stands in the growth life cycle, you should always consider some form of bootstrapping. Bootstrapping is the use of little or no money by leveraging available resources. Bootstrapping enables you to control cost by getting things done without committing cash. This approach is viewed favorably by current and potential investors since you are setting priorities around maximizing value.