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More than ever before, companies nowadays encounter the challenge of
attracting, developing, and retaining a high-impact workforce in an
efficient and effective manner. In this regard, Human Resources
Management (HRM) assumes a key role in deliberately allocating
resources to workforce development, ensuring that the firm’s
strategy can be implemented accordingly. But like any other
department, HRM needs to decide on how to use scarce resources best
by determining the critical segments of the workforce. Spreading
scarce resources too broadly is no suitable option when focus is
needed to achieve impact and differentiation.
The study “Optimizing Workforce Development in Resource-Constrained Times” explores HR Executives’ perspectives, perceptions, and intentions in their quest for optimizing workforce development. Three vital aspects of workforce development are investigated: First, the perceived impact of select functions on a company’s economical success and risk. Second, the current training and development measures conducted in relation to these functions. And third, career advancement opportunities associated with these functions.
A specific, “corporate” focus has been adopted to investigate these aspects. Specifically, the study explores 14 key corporate functions. Corporate functions have generally increased in number and importance as a result of organizational growth and international expansion. They often play a pivotal boundary-spanning, coordination, and even leadership role, which makes them an important subject for investigation as well as HRM decision-making.
Corporate Customer / Key Account Manager, Corporate R&D Manager, and Corporate Marketing / Product Manager are rated as the most impactful functions regarding firm value creation and future economic success. These functions are also perceived as involving the highest degree of intangible assets. On all of the above dimensions, Corporate Auditor / Controller receives the lowest ratings by the respondents. In contrast, this function is perceived as the most important one regarding the reduction of firm risk.
If they were the only deciders, the respondents would allocate training funds to the corporate functions in the same way as they perceive the corporate functions’ importance with respect to creating firm value, reducing firm risk, impacting future economic success, and holding intangible assets.
Four out of the 14 corporate functions are considered as roles that prepare for a senior leadership position. Out of those four, the Corporate Customer / Key Account Manager is the one which is deemed to be the most suitable function by far.
|type||working report (English)|
workforce, human resources, training, people development, key account manager
|type of report||Study Report|
|date of appearance||2010|
|publisher||Research Institute for International Management|
|citation||Thoma, A. (2010). Optimizing Workforce Development in Resource-Constrained Times: Research Findings & Implications: Study Report: Research Institute for International Management.|