A strategic overview of Human Resources: the Latin American challenge
Human capital is one of the most valuable assets a company can have. An organization’s good results and its ability to innovate largely depend on the knowledge, skill and creativity of its employees.
According to a 2018 survey by Deloitte on Human Resources management in Latin America, people are “an essential asset to achieve an organization’s goals”, but one must invest in those people in order to obtain results.
In this respect, the efficiency of Human Resources management does not depend solely on selecting and retaining the right people. One must also know how to get the most out of them, fostering their talent.
A strategic overview of HR in Latin America, according to Deloitte.
The study points out that, for many years, Latin American companies have seen Human Resources management as a merely administrative task that focuses on complying with applicable work policies. In contrast, the report states that multinational corporations operating in the continent have a strategic appreciation for Human Resources.
At a time when innovation is a priority, the importance of taking full advantage of the commitment and talent of employees is undisputable. Deloitte highlights that Human Resources management in Latin America requires innovative methodologies that increase engagement among employees, who thereby make the organization’s challenges their own.
According to the report, the HR sector in Latin America is currently engaged in the process of rethinking its function and contribution to corporate success.
Technology and initiatives that rely on technology appear as great allies, with actions like active listening programs that focus on employees, or programs that promote intrapreneurship. “The digital transition in organizations has practically become a necessity: business models have changed and adapting to this new digital world is almost an obligation”, according to Deloitte’s report.
Ideas and commitment for collective innovation
ideas4all Innovation is a company that specializes in innovation, offering large corporations software and methodology that drive communities where the organization’s employees share and co-create ideas to innovate [discover and download the company’s success stories in different sectors]. Behind all this is a process by which the organization itself detects the best proposals and their authors to implement projects with tangible results, and involve the best internal talent in the organization’s transformation. The company currently works with large multinational companies like Banco Santander, Repsolor Zurich Insurance, who have launched corporate innovation programs that seek to offer the best possible customer service by considering their own employees. This commitment to listening to internal talent, apart from providing client-oriented innovation, has also resulted in very positive short-term effects inside the company, such as a 34-point increase in employee eNPS.
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