Businesses must rethink HR strategies as new technologies emerge: Zaqy Mohamad

Summary

Senior Minister of State for Manpower, Zaki Mohammed, emphasizes the need for businesses to rethink their human resource strategies due to the disruption caused by emerging technologies like AI. He stresses that HR must transition from a supporting role to a leadership position in order to effectively address challenges in hiring and retaining talent. Furthermore, he highlights the importance of digitalization and technology in HR practices. In partnership with nine industry players, Human Capital Singapore has launched a new training series focused on retaining talent and utilizing data-driven insights for future workforce planning.

Takeaways

• 😀 HR must evolve to a leadership role in businesses, not just a supporting function, to address challenges posed by emerging technologies.
• 😀 The disruption caused by technologies like artificial intelligence demands that businesses rethink their human resource strategies.
• 😀 Retaining talent will become increasingly challenging due to the rapid technological disruptions in the workplace.
• 😀 HR personnel need to be included at the leadership table to make a significant impact in the business landscape.
• 😀 Digitalization is crucial in transforming HR practices to adapt to current and future challenges.
• 😀 Data-driven insights are essential for HR teams to effectively plan for talent retention and other workforce challenges.
• 😀 HR training providers, like Human Capital Singapore, are working with industry players to address HR challenges through training.
• 😀 The collaboration between HR training providers and industry players aims to help businesses navigate technological disruptions.
• 😀 A new training series launched will focus on how businesses can retain talent amidst technological disruptions.
• 😀 Using technology in HR practices is vital for making informed decisions and staying competitive in an evolving business environment.

Q & A

Why does Zaki Mohammed believe businesses must rethink their human resource strategies?

Zaki Mohammed believes that businesses need to rethink their human resource strategies due to the disruptions caused by emerging technologies, like artificial intelligence. These technologies are reshaping workplaces, and businesses must adapt to stay competitive.

What challenge does Zaki Mohammed highlight for businesses in the context of hiring and retaining talent?

Zaki Mohammed points out that hiring and retaining talent will become increasingly challenging as technological disruptions change the landscape of the workforce. Businesses will need to find new ways to attract and keep skilled workers.

What does Zaki Mohammed suggest about the role of HR personnel in the future?

Zaki Mohammed suggests that HR personnel should no longer play a supportive role. Instead, HR needs to be involved at the leadership level to make a significant impact on business strategy, especially in the face of technological changes.

Why is it important for HR to be at the leadership table, according to Zaki Mohammed?

It is important for HR to be at the leadership table because, in the age of technological disruptions, HR needs to contribute to decision-making and strategy development. This will allow HR to play a more active role in shaping the future of the organization.

What is the significance of digitalization in HR practices as discussed by Zaki Mohammed?

Zaki Mohammed emphasizes the importance of digitalization and the use of technology in HR practices. He suggests that HR must adopt digital tools and data-driven approaches to adapt to technological changes and stay ahead in talent management.

What new initiative was launched by Human Capital Singapore, and who are the partners involved?

Human Capital Singapore signed a memorandum of understanding (MOU) with nine industry players to launch a new training series. The initiative focuses on issues like retaining talent during technological disruptions and leveraging data-driven insights to address future challenges.

What are the key topics that the new HR training series will cover?

The new HR training series will cover key topics such as retaining talent during technological disruptions and using data-driven insights to plan for future challenges in human resource management.

What role does HR training play in adapting to technological disruptions, according to Zaki Mohammed?

HR training plays a crucial role in equipping HR professionals with the skills and knowledge needed to navigate technological disruptions. It helps them adopt new approaches for talent management and ensures that HR can effectively support the organization through change.

Why does Zaki Mohammed emphasize the use of data-driven insights in HR planning?

Zaki Mohammed stresses the importance of using data-driven insights because they allow HR professionals to make more informed decisions about talent management and anticipate future challenges. This approach helps HR stay proactive rather than reactive.

How does Zaki Mohammed envision HR adapting to the future of work?

Zaki Mohammed envisions HR adapting to the future of work by embracing technology, digitalization, and data-driven strategies. He believes that HR will need to evolve from a supportive function to a leadership role, influencing business decisions in the context of technological change.