Other parts of this series:
- At FS firms, HR has a big role in enterprise agility… it may be up for grabs!
- For effective FS workplace and workforce transformation, HR must transform too!
- How FS can harness digital HR to drive enterprise agility
- Digital HR for FS – a 5-point approach
- Six operating models for digital HR at FS firms
Each of the six operating models Accenture has identified is designed to suit different FS business strategies, cultures and types of workforces.
- Just-in-Time HR Model. This model replaces centers of excellence (COEs) and business partners with a small cross-functional workforce-effectiveness group. The model borrows from agile approaches and is especially suited for volatile businesses and diverse workforces.
- Professional Services Model. COEs and business-partner roles are replaced with an internal HR consulting group that creates talent practices and advises various parts of the business. It’s good for fast-changing businesses with globally integrated business models and a great deal of project work.
- Talent Segmented Model. Instead of having business partners assigned to business units, “talent segment representatives” can be more flexibly assigned to talent groupings. This model is ideal for organisations that compete on talent with highly diverse workforces that are seeking to boost workforce productivity and engagement without sacrificing control.
- Crowdsourced Model. Borrowing from concepts of crowdsourcing, “co-created” products and services, and open source innovation, this model reconceives HR in light of new digital advances that empower employees to define their own talent practices. This model is especially appropriate for smaller, volatile organisations that compete on talent with more democratic cultures.
- Lean HR Model. This model divides HR into three parts: shared services, a tiny corporate function with deep specialists and a small number of both centralised and localised planning and analysis experts. Here, HR departments are eliminated by pulling them apart, with pieces either being outsourced, automated by machines or placed in various parts of the business where they fit most naturally.
- Federated/Decentralised Model. For businesses with fairly autonomous business units that need to rapidly respond to the needs of local units, this model decentralises business partners and COEs into business units. This model is beneficial for organisations focused on speed and intimacy rather than on the efficiencies that can be achieved through scale.
I hope you have found this series informative and useful. My team and I are currently working with a number of FS HR organisations that are wrestling with the challenge of reimagining their roles for a digital era, setting digital HR strategies, and gearing the organisation for digital.
I welcome your comments and insights and would be happy to discuss your organisation’s HR transformation.
For more insight on HR for FS in a digital era, click through to: