Developing a human capital strategy in today's changing environment: eight forces shaping HC strategy

Abstract

Purpose

Internal and external forces are part of a changing environment affecting organizational performance. As a result, human capital strategies must adapt. The aim of this article is to identity the forces that have the most impact and should be addressed by the HR team through specific human capital strategies.

Design/methodology/approach

It identifies global shifts and trends that are occurring that must be included in the HC strategy of organizations.

Findings

This article details eight forces that have a tremendous influence on the effectiveness and efficiency of organizations. They are: accountability and expectations, energy and environment, globalization and the global economy, societal changes, shifting demographics, empowerment and engagement, technology and social media, and work/life balance.

Practical implications

If these specific forces are not addressed, organizations will be less effective, efficient and profitable. The challenge is to address these forces in specific human capital strategies so that the proper attention, focus and resources are applied to make the organization successful.

Originality/value

This is original work and research performed through the ROI Institute, Inc., and has not been published previously.

Citation

J. Phillips, J. and P. Phillips, P. (2014), "Developing a human capital strategy in today's changing environment: eight forces shaping HC strategy", Strategic HR Review, Vol. 13 No. 3, pp. 130-134. https://doi.org/10.1108/SHR-01-2014-0002