HR has a critical role to play in helping employers adapt to the rapidly
changing business environment, claimed Lloyds TSB chairman Maarten van den
Bergh at a seminar last week.
Van den Bergh said that increasing globalisation, the decline in the stock
market and the growth of Europe as an economic entity had irrevocably changed
the UK business climate. He explained it has created a younger generation of
self-confident, ambitious staff that are demanding challenging multi-company
careers on high remuneration.
"HR can be a catalyst for change in enabling organisations to recruit,
motivate and retain the best of this generation," he said. It will also
play a central role in developing the leadership needed to run a dynamic modern
business, he added.
Firms increasingly need a broad base of talent, he said. "If your
company is going for revenue growth, you need different people from those that
are trying to create cost efficiencies," he said.
At the Michael Page Human Resources Seminar, he warned against a consensus
style of management. "If the board thinks the same, it will be bad news
for the company. You need people who have imagination and vision for growth,
and different, analytical skills for cost cutting. Diversity is an important
Effective training, mentoring and career review strategies are essential.
"A major challenge for HR is keeping staff motivated. You have to invest
in them in order not to lose them," he said.