Experts charge private, public sectors to seek investment in human development

Society for Human Resource Management (SHRM) has challenged organisations in the private and public sectors to see strategic investment in human capital as the right thing to do in a precision of recession, as currently being faced by Nigeria.

SHRM, which is the world’s largest association, devoted to human resource management, representing more than 250,000 members in over 140 countries, made the call during the 7th Future-Ready Human Resource Conference organised by SHRM, Nigeria in Lagos recently.

Speaking at the event, SHRM President for Middle East and Africa (MEA), Mr. Brad Boyson, during his presentation entitled: ‘Business and Human Capital Challenges Now and in the Future’, said “around the world, when economic times are difficult, the first activity organisations cut is actually training or investing in people.”

He, however, said that business history has shown that the organisation that goes against the trend to take the opportunity when other organisations are not investing in people, are always the ones ahead of the industry

“So, the significance of an event such as this holding in Nigeria at this time is that, as HR people, we need to be the advocates for growing the organisations in the area of talent in difficult times.”

Explaining the future-readiness of HR professionals, Boyson said: “At SHRM, we believe that the foundation to be an HR professional is to hold that professional qualifications because with that, you are proving to your global peers that you understand the necessary knowledge of HR and that you understand the best practices of HR. Not everyone that works in HR department or unit of an organisation is an HR person.

He stressed the need for HR professionals’ collaboration with HR professionals towards formulating and implementing economic policies bordering on developing the nation’s human capital.to be proactive in adapting to the changing landscape of current and future-based HR practices where technology is playing a key role not only on the organisations but also on the existing and prospective talent.

President, SHRM, Nigeria, Mr. Oliver Nnona, emphasised the need for a practical approach to be adopted in setting up a HR analytics function, saying this will depend on the current structural capacity and leadership within the organisation.