1. Human Resource Consulting Group 2 | Team 8

2. Agenda What is HR consulting? Global HR consulting companies Different HR functions outsourced by a company Services across HR value chain Strategic HR consulting Future of HR consulting

3. What is HR Consulting? HR consulting is a branch of management consulting that focuses on the process of effectively utilizing personnel to obtain the goals of an organization. HR Consulting Human Capital Health & Benefits M&ACommunicationRetirement Outsourcing

4. Evolution of HR

5. Top global HR consultancy firms Company NameRevenueNo. of full-time HR consultants Mercer$2.4 billion9000 Deloitte$1.587 billion8091 Watson Wyatt$1.39 billion6300 Aon Consulting$1.28 billion6500 PwC$1.1 billion5350 Towers Perrin$1.027 billion2090 Hewitt Associates$ 861.8 million1700 Hay Group$ 389 million1650 Segal Co.$ 180.2 million800

6. HR functions outsourced by a company Compensation & Benefits Payroll Recruiting and Workforce planning Learning / Development Performance Effectiveness Workforce Administration Workforce Relations

7. HR value chain Human Resource Planning Human Resource Acquisition Compensation & Benefit Planning Training, Education & Department Workforce Management Performance Management Separation Management

8. 1. Recruiting/Sourcing Strategy Mapping Business Strategy to HR Strategy Recruitment Planning and Roadmap -Talent Demand & Supply Modeling and Analysis Company Brand As Perceived by Prospective Hires Cost Optimization For Sourcing

9. 2. Compensation & Benefits Compensation and Benefits Benchmarking Study Compensation Structuring/Re-structuring Benefit or Variable Pay-Plan Designing, Structuring and Re- structuring Compensation and Benefits Scenario Modeling - To analyze impact of pay variation on cost structure

10. 3. Training/Education/Development Skills Map and Gap Analysis Benchmarking Studies - Training and Development Benchmarking Learning Management System Design Career Development Program Designing

11. Employability Skills Map Source: University of Kent

12. Gap analysis

13. Steps involved in Gap analysis Formation of database Identify gaps, training needs Conduct an inventory of existing skills Interviews, Focus groups meetings Develop job profiles and Identify critical skills required Review current position descriptions for future needs Data Collection and Analysis Employee competencies, critical skills Identify the needed skills Mission, business goals, procedures and processes in place

14. 4. Workforce Management Strategic Workforce Planning - Talent Supply Modeling – Demand Vs. Supply Global Grading System - Global Job Evaluation Mapping – Levelling jobs across functions, business units and countries Succession Planning Retention Planning - Also includes Attrition Cost Modeler and Employee Engagement Study Employee Satisfaction Study

15. 5. Performance Management Cascading Alignment/Design - Alignment of Personal and Business Goals Performance Measurement System KRA Design

16. 6. Separation Management Separation Management System Design Exit Diagnostics – Root Cause Analysis (Also includes Root Cause Modeler)

17. Strategic Human Resource Management Strategic HRM addresses broad organizational issues relating to organizational effectiveness and performance, changes in structure and culture, matching resources to future requirements, the development of distinctive capabilities, knowledge management and the management of change

18. Need for Strategic HR Consulting People have become source of competitive advantage Integration of HR considerations with other physical, financial, and technological resources Smoothening change management process Succession planning Employee engagement for productivity increase People have become source of competitive advantage Integration of HR considerations with other physical, financial, and technological resources Smoothening change management process Succession planning Employee engagement for productivity increase

19. Steps in strategic HR Consulting Follow-up and evaluation Project implementation Preparing action plans Change management processes Assessment of potential barriers to implementation Communication of intentions and their rationale Formulating strategy and spelling out its aims, cost and benefits Rigorous Initial Analysis viz. SWOT and PESTEL

20. Future of HR Consulting Rising importance of Human Resource Management Increasing Complexity in Human Resource Management Research and development in HR Practices by Consulting firms High demand of HR consulting services Rising importance of Human Resource Management Increasing Complexity in Human Resource Management Research and development in HR Practices by Consulting firms High demand of HR consulting services

21. Thank You