Cmpetencies fr Mid-Career HR Prfessinals PPT Sessin 6: Business Acumen Instructr Ntes Slide 1 - Cmpetencies fr Mid-Career HR Prfessinals This sessin n Business Acumen is a cntinuatin f a series fllwing fur early-career-level sessins and ne previus mid-career-level sessin n Cnsultatin. This precedes three senir and executive career-level sessins. Materials fr This Sessin: Reading Assignments The articles Wrker Cnfidence Prpels Deluge f Quits. https://www.shrm.rg/resurcesandtls/hrtpics/talent-acquisitin/pages/wrker-cnfidence-quits.aspx Business Acumen: Building a Better HR. https://www.shrm.rg/hr-tday/news/hrmagazine/pages/0116-cmpetencies-business-acumen-cappelli.aspx The reprt Jb Openings and Labr Turnver Survey Highlights December 2015. http://www.bls.gv/jlt/jlt_labstatgraphs_dec2015.pdf Slide 2 - Due This Sessin Review what is due tday. Ask students if they have any questins abut the cntent cvered in the Sessin 5. Slide 3 - Curse Intrductin and Business Acumen Cmpetency Tell students that by nw they have cvered fur early-career-level cmpetencies and ne ther mid-career-level cmpetency. 2016 Sciety fr Human Resurce Management. All rights reserved. Page 1
Students shuld be very familiar with the next slide (an verview f the SHRM Cmpetency Mdel). Hwever, require students wh missed the early-career mdule t review the five prir cmpetencies as external self-study. Ask students t share their impressins f the way the first five cmpetencies fit tgether. Ask them what appears t still be missing. Ask students befre cvering tday s cntent, What d yu think Business Acumen means? (Revisit this during the wrap-up at the cnclusin f the sessin.) Tell them their perspective will evlve even further by the time they finish this mdule. Slide 4 - Sessin 6: Lessns Review the lessns cvered in tday s sessin. Nte: SHRM subject-matter experts carefully chse the cntent and activities fr the tw sessins. We als fully appreciate that instructrs enjy bringing their wn perspectives and cntent t the curse. Yu are free t add in mre mini-cases, articles r any ther cntent yu see fit t drive the learning utcmes. Please ensure that any additinal materials have prper citatins and d nt infringe n cpyright laws. Depending n hw many ptinal activities yu add, yu may need t expand hw much time is devted t tday s lessn. Slide 5 - Learning Objectives Review the learning bjectives. Be sure t emphasize that the curse is intended t give students pprtunities t apply the cncepts they are studying, and t see what these cncepts lk like when practiced in the field f HR. Ask students, What d yu hpe t get ut f this final mid-career sessin? Slide 6 - Curse Purpse Review the curse purpse n the slide. Pint ut that this final sessin f the mid-career curse is a cntinuatin f SHRM's Cmpetency Mdel. Stress that althugh the mdel includes nine cmpetencies, we have already fcused n five cmpetencies and are nw lking at the mst essential cmpetency fr mid level HR practitiners Business Acumen. Remind students that a senir and executive mdule will cme sn. 2016 Sciety fr Human Resurce Management. All rights reserved. Page 2
Mentin that the curse is geared tward graduate- and undergraduate-level students, because it is just an verview f the mid-level cmpetencies. Yu may chse t als mentin that the sessin we are abut t cver was designed with an intent t be included in larger university prgrams (such as BBA prgrams). Slide 7 - Overview f SHRM s Cmpetency Mdel Ask students, By a shw f hands, hw many f yu cmpleted the early-career mdule n the first fur cmpetencies f HR and the first mid-career mdule? The next slide will be an verview f the mdel fr students wh have nt cmpleted the early-career mdule and the first lessn f this mdule. Require students t review the five prir cmpetencies as external self-study. Ask the rest f the students t share sme f the things they learned in the early-career mdule and in Sessin 5 and hw their perspective f the field f HR has changed. Ask students befre cvering tday s cntent, What d yu think Business Acumen means? (Revisit this during the wrap-up at the cnclusin f the sessin.) Tell them their perspective will evlve even further by the time they finish mdule. Slide 8 SHRM Cmpetency Mdel Review the SHRM Cmpetency Mdel (we will present the definitins, descriptins and mre infrmatin in ther slides). See if the students are clear abut the distinctins between the nine HR Cmpetencies. Pint ut again that frm this pint frward in the class, we will be fcusing n the last cmpetency relevant t mid-level HR prfessinals (Business Acumen). Remind them that this cmpetency is cnsidered a nntechnical, r behaviral, cmpetency. Remind them that technical cmpetencies represent what yu knw, whereas behaviral cmpetencies represent hw yu cnvert yur knwledge int bservable behavirs. Success is nt just abut what yu knw, but als abut hw yu use the knwledge yu pssess. Slide 9 Levels f Experience Students have seen this graphic multiple times: It depicts the career f HR prfessinals as they gain mre experience. When explaining the graphic, tell students that the graphics with the number in them represent years f experience (e.g., Mid 3-7 dentes three t seven years f experience.) Als pint ut that mst peple in HR begin their career as a specialist in sme functin (e.g., a cmpensatin specialist), and as they gain experience they learn abut ther specialties. 2016 Sciety fr Human Resurce Management. All rights reserved. Page 3
Ultimately, they may advance thrugh their specialty, but typically executive-level HR prfessinals have t be knwledgeable abut all HR functins. Slide 10 - Curse Structure Tw sessins are utlined n this slide students have cmpleted the Cnsultatin cmpetency sessin. The mid-career level curse is tw 75- minute sessins. Time is limited, s we will fcus the cntent n high-level descriptins f the cmpetencies, and we will present a few practical exercises t help students understand what these cmpetencies lk like in practice. The curse includes prereading, which students shuld have cmpleted fr Sessin 2. Slide 11 - Imprtance f the Cmpetency Understanding hw the many thusands f SHRM members rated the imprtance f each cmpetency will prvide needed perspective t the students. Seeing the ratings is a useful career management tl, because it will help students understand what they need t master and the benefits f ding s, r the drawbacks f nt ding s. Slide 12 - Imprtance Rating Scale Taken frm p. 138 f the bk Defining HR Success: 9 Critical Cmpetencies fr HR Prfessinals. Review the slide. Slide 13 - Required Upn Entry (RUE) The Required Upn Entry rating is als based n feedback frm the surveyed SHRM members and tells students what they need t have mastered (mstly) by which stage f their career, again prviding a radmap fr career advancement, a guide fr future studies and perspective. Slide 14 - RUE Rating Scale Taken frm p. 138 f the bk Defining HR Success: 9 Critical Cmpetencies fr HR Prfessinals. Stress as nted n the slide: Yu must already have this cmpetency when yu arrive at the respective level. Slide 15 - Ratings Taken frm p. 165 f the bk Defining HR Success: 9 Critical Cmpetencies fr HR Prfessinals. Give students a few mments t bserve the table. Ask them fr their bservatins. If needed, pint ut the steady prgressin f the Imprtance and RUE scres frm early t mid level and frm mid level t senir and executive levels. 2016 Sciety fr Human Resurce Management. All rights reserved. Page 4
Ask, What d these findings mean? These findings indicate that HR prfessinals will need t begin develping this cmpetency in the earliest stages in their careers, s they will be ready when they reach mid level. The findings als indicate that they cannt neglect the develpment f this general behaviral cmpetency in the belief that fcusing n develping their HR skills wuld be mre imprtant. Business acumen is a skill they must develp t be successful at prgressively mre senir levels. Ask, What happens if HR prfessinals are nt prficient in this cmpetency? Ptential answer: HR prfessinals seen as lacking in Business Acumen, r as appearing nt t have it in a jb interview, may nt be prmted r hired int the rles they want. Tell students: The SHRM Cmpetency Mdel can be a helpful radmap fr yur career and future studies, because yu nw knw what yu need and when yu need it. Cnsider: These scres are mderate at the mid-career level (right in the middle f the RUE range at 51%), but they cntinue t increase with the higher career levels. Slide 16 - Definitin and Cmpnents f the Business Acumen Cmpetency Begin by asking students what they think f when they hear the wrds business acumen? Sme typical respnses may include: Knwing yur industry in and ut. Being an expert in the numbers f yur business (e.g., incme, revenues, prfit margins). Understanding yur market, hw yu sell and hw yur prduct r service is priced. Knwing bjectives and strategic gals, and understanding the internal and external challenges and strengths. These may be reasnable cnclusins based slely n the wrds business acumen, but the cmpetency is much mre. Ask students t describe a persn they have wrked with wh demnstrated strng business acumen (the persn des nt have t wrk in HR). Have them describe the specific tasks that persn did that led the students t believe the persn had gd business sense, industry awareness, r brad/agile thinking. Hw did the persn share this business acumen with thers during situatins bth standard and difficult? Hw did this persn apply the knwledge he r she had? What kinds f benefits resulted frm the persn applying his r her knwledge? 2016 Sciety fr Human Resurce Management. All rights reserved. Page 5
Slide 17 - Business Acumen Definitin Review the definitin prvided. Elabrate n this infrmatin if yu sense ding s is required fr understanding. Slide 18 - Business Acumen Descriptin Review the descriptin prvided. Elabrate n this infrmatin if yu sense ding s is required fr understanding. When reviewing the descriptin, remind students that business acumen applies equally even if yu are nt wrking fr a business. The gal f an rganizatin can be making a prfit, serving a cmmunity r gverning a ppulace, and yu still need gd business acumen t be effective in yur HR rle. Slide 19 - Business Acumen Examples Remind students that they will have a duty t develp the next generatin f HR prfessinals. Business acumen is like a muscle; it gets strnger with use. After the students lk ver the examples prvided, ask them if they can think f ther examples f hw business acumen manifests itself in the wrkplace. Encurage them t think back t the article in their prereading ( Business Acumen: Building a Better HR ) fr ideas. D nt spend a lt f time n the examples, since yu are abut t review the subcmpetencies and the behavirs. Nw that students have seen the frmal definitin, descriptin and examples f the Business Acumen cmpetency, ask them t share an example f smene they knew wh lacked this cmpetency and hw it adversely affected their ffice, department, stre, etc. Slide 20 - Business Acumen Subcmpetencies Remind students that a subcmpetency is related t the general cmpetency and may be subsumed by the general cmpetency. Chse a few f the subcmpetencies n the slide that yu think are particularly imprtant t successfully using Business Acumen, and prvide yur perspective n why these are s imprtant. Fr example: Fr knwledge f labr markets, refer t the prereading assignments. Ask, Hw can rganizatins best prepare fr and respnd t changing labr markets? Ask, What shuld HR prfessinals d t keep abreast f labr market develpments, and hw can they use the knwledge gained t benefit their rganizatin? 2016 Sciety fr Human Resurce Management. All rights reserved. Page 6
Fr business knwledge, yu might talk abut the imprtance f fllwing industry and cmpetitr news as well as scial media feeds. Fr knwledge f gvernment and regulatry guidelines, yu can talk abut the imprtance f mnitring natinal, state and lcal plitical develpments that wuld affect yur field. Fr strategic agility, yu can ask why it is imprtant t be adaptable, and what the risk is f changing curse t ften. Slide 21 - Business Acumen Behavirs Discuss these Business Acumen behavirs with the students. Ask them t pick a few f the behavirs that they feel are critical t successfully implement the subcmpetencies frm the prir slide. Fr example: Fr strategic agility, they might pint ut that uses rganizatinal metrics t make decisins (#7) and demnstrates a capacity fr understanding the business peratins and functins within the rganizatin (#2) are tw key behavirs that allw yu t be successful. As an alternative (if time allws), yu culd turn this int a quick activity. Befre class, print ut the list f behavirs, and cut the paper int strips with ne behavir n each strip. Place the strips int a bwl. There are nine behavirs, s ask fr nine vlunteers. Have each draw a behavir frm the bwl. Have each vlunteer read his r her behavir ut lud and then match it t ne f the subcmpetencies (it wuld help if yu flip back t the subcmpetency slide fr this part f the activity). Once students pair the behavir they chse with a subcmpetency, ask the rest f the class if that behavir culd als supprt ther subcmpetencies. Cntinue until all nine students have matched their behavirs t at least ne subcmpetency. An accelerated versin f this is t just have fur r five students pick a behavir frm the bwl, nt cvering all the behavirs. Slide 22 - Ways t Develp Business Acumen Skills Have the students review the ideas n the slide fr develping Business Acumen skills. Encurage them t prvide additinal ideas fr hw t develp skills t master this cmpetency. In discussing sme f the ptins n the slide, tell students: Yu will understand yur cmpany s strengths, weaknesses, pprtunities and threats (SWOT). Yu will gain a deep wrking knwledge f yur rganizatin s strategic plan. Yu will be able t identify the biggest challenges in the plan, and hw HR can help vercme them. Pint ut that the SHRM Cmpetency Mdel emphasizes the need fr HR prfessinals t be perpetual, lifelng learners. Graduating with their degree is nly the beginning f their educatin, nt the end. 2016 Sciety fr Human Resurce Management. All rights reserved. Page 7
Slide 23 - Applicatin f the Business Acumen Cmpetency As we said earlier, business acumen is like a muscle, and it gets strnger as yu use it. Nw it is time t exercise. Slide 24 - Activity Refer t the dcument Applying the Business Acumen Cmpetency. Hand ut cpies t each student. Students shuld have cmpleted the prereading: Wrker Cnfidence Prpels Deluge f Quits and Jb Openings and Labr Turnver Survey Highlights December 2015. If students are nt already assigned t small grups (apprximately fur t six each), assign them nw. Yu culd use ne f bth f the scenaris: 3H r ICIC. If assigning bth, ideally have at least tw grups try each ptin s yu can cmpare and cntrast student input during the debrief. If assigning bth, after the grups discuss their scenari and recmmendatins, ask the grups that did nt have the just-reviewed assignment t prvide input. Ask thse grups what infrmatin they wuld have wanted t knw, and what they wuld have dne differently. Circulate unbtrusively, and make bservatins t cmment n during the wrap-up D nt get invlved in the cnversatin. Let it happen. Everyne will share after. Things yu might bserve are: Optin 1: 3H (Htel Headquarters Hazard) Sme students may nt see this situatin as a hazard r cause fr much cncern. If s, ask them t lk at the different factrs listed n the wrksheet with the hpe that segmenting the prblem will bring greater awareness f the whle. Ptential respnses frm students abut what the situatin may affect: Talent acquisitin and retentin effrts: HQ staff will nw have ther industry HQ emplyment pprtunities available t them that d nt require relcatin t pursue. Hw may this change effect turnver at the htel? What can be dne? Hwever, the htel will als have a new pl fr talent t recruit frm fr vacant r new psitins. Hw can yur emplyees nw becme brand ambassadrs? Ttal rewards fferings: Emplyees will be cmparing what they get and what the ther guy gets benchmarking t ensure that yur htel s fferings are cmpetitive will becme mre imprtant than ever. Learning and develpment initiatives: Offering career grwth pprtunities imprves yur ability t attract and retain staff. Crprate risk cncerns: Shuld yu wrry abut infrmatin abut yur initiatives getting int the hands f the ther htel befre yu are ready t g public? 2016 Sciety fr Human Resurce Management. All rights reserved. Page 8
Optin 2: ICIC (Ice Cream In Crisis) Staffing: Shuld yur cmpany hire mre quality assurance peple and lk at the credentials f yur current QA staff? Reward and recgnitin prgrams r cmpensatin practices: Hw can yur cmpany attract and retain the right peple t prevent this frm happening at its facility? Hw shuld the cmpany reward emplyees wh, thrugh internal QA practices, find safety issues that prevent custmer illnesses, lst revenue and damage t the cmpany s standing in the market? Culture: Hw can the rganizatin develp and maintain a culture f safety? Learning and develpment: What training shuld emplyees receive? Hw shuld yur cmpany deliver the training? Will training be prvided internally r externally? Slide 25 Activity: Debrief Discuss yur bservatins. Ask the students hw they wuld feel dealing with these scenaris in the real wrld. Mentin the actual events that inspired these activities. These events are examples f the kinds f challenges HR prfessinals face every day. See the dcument Applying the Business Acumen Cmpetency fr cmplete guidance n this activity. Slide 26 - Rapid Recap Recap the key pints abut the Business Acumen cmpetency as utlined n the slide. Ask, Nw that we ve learned mre abut Business Acumen, what d yu think it means? Ask, Hw has yur perspective changed? Ask, What have yu gained a new appreciatin fr? Ask, Did anything cause yu t be skeptical? Slide 27 - Rapid Recap (cntinued) Ask, What d yu think f the Imprtance and RUE ratings fr Business Acumen nw that knw mre abut the cmpetency and have cmpleted the activity? The value and usefulness f business acumen may be limited in the early-career stages, but the seeds f a larger perspective are planted in the early stages. Learning the skills and knwledge assciated with a practitiner HR rle may be critical in the early- and mid-career phases, but being able t gradually fit that knwledge and wrk int the big picture is what carries a practitiner alng the path t senir- and executive-level rles. Slide 28 - Benefits, Challenges and Risks Review the benefits, challenges and risks utlined n the slide. 2016 Sciety fr Human Resurce Management. All rights reserved. Page 9
As yu cver these, address each in the cntext f the individual, the HR department and the rganizatin as a whle. Students shuld attempt t lk at each cmpetency using these three perspectives as best they can at this pint in their educatin/career. Ding this exercise helps students cnsider the fllwing: Their HR career radmap. Hw they wuld lead and develp an HR department/team. Hw they wuld cntribute t an rganizatin as a true business partner. Slide 29 - Weaknesses Review the impact that weakness in this cmpetency can have, as utlined n the slide. Slide 30 - Due Next Sessin Remind students f the assignments due fr the next sessin n Critical Evaluatin. Ask if they have any remaining questins frm tday s sessin. 2016 Sciety fr Human Resurce Management. All rights reserved. Page 10