The Role of HR in Identifying High-Potentials for Corporate Entrepreneurship
Role of HR Department in Corporate Entrepreneurship
Remember we talked about “How to identify intrapreneurs within your organisation” not too long ago? Have you been able to identify anyone in your business unit, department or organization who is intrapreneurial and is a high-potential? If not, why not?
Your human resources department was by definition responsible for hiring, firing, payroll, benefits administration and compliance with tax laws. That was HR 1.0. But then came HR 2.0. which included skills development, talent retention, becoming a centre of expertise and so on. Did you know that we are now on the verge of HR 3.0? Read more.
HR integration in today’s businesses
In the recent years since entrepreneurship has become the new hype, many corporations have also started to instigate entrepreneurial spirit within their corporations as they see the need to be entrepreneurial in the ever competitive business environment. To do so, the obvious place to start, is through the human resources department. Unlike 10 years ago, the functions of HR today are becoming more integrated with one another, more agile, mostly because the millennials are dominating the workforce and demand more from HR.
We have also learned that many HR managers across industries are all chasing these similar objectives and facing similar challenges to unleash and discover the innovation power from within their organisation.
Research conducted by The Conference Board has found these six key people-related activities that human resources must effectively do to add value to a company. Two of the most critical and important points are: 1) increasing the innovation, creativity and flexibility necessary to enhance competitiveness; 2) developing competencies that enhance individual and organizational performance.
Roadmap for HR to implement entrepreneurship
To help HR managers achieve these goals, AfCE plays an important role to help you take the first steps in identifying high-potentials and the brightest talents within your organisation by implementing strategic HR management skills:
Step 1: Defining your talent development vision
Step 4: Identifying and handpicking the high potentials to advocate your company business ideas and goals
Step 5: Allocating a time frame for the selected high-potentials to experiment and explore their ideas…
(for the complete roadmap, please visit AFCE Program)
Remember, essentially, we want you to be able to cultivate talent and high-potentials within your organization to drive future growth internally. These talents will be your future leaders helping to drive innovation across your business!
The Academy for Corporate Entrepreneurship structures programs to assist your Corporate Entrepreneurs through these steps. Use this free Intrapreneurship Program Design Tool to help you get started with designing your own Intrapreneurship Program.