We are currently looking at a significant HR transformation programme, the outcome of which is working more closely with the HR and Payroll division and also Operations, so we have a commercialised model for People AX which enables us to sell the model more widely. This is will affect the internal HR offering for Equiniti and ensure we are a customer of our own solutions.
Other things which we are working on are around talent succession and embedding our performance management approach. We are also looking at refining our incentive schemes so they are more closely aligned to the strategy and help to underpin overall growth in the business.
A big thing for the HR industry is around embracing technology and big data analytics. For most companies, the biggest cost is people so having comprehensive data to measure return on investment is key to supporting business growth.
What is the focus for the second half of the year?
The second half of the year will involve embedding the performance management process and extending this into talent and succession planning, underpinned by developing our leaders and managers. It has been strategized, but now there will be a major focus on implementation with all the managers across the business.
Can you talk about anything that’s happening in the HR industry as a whole?
A big thing for the HR industry is around embracing technology and big data analytics. For most companies, the biggest cost is people so having comprehensive data to measure return on investment is key to supporting business growth. Also embracing social media and technology, this is really important as we move into a largely digital era.
Is big data analytics something Equiniti is looking to adopt as part of its HR strategy?
It’s one of the key things we are looking at. Equiniti is a technology business so we are looking at how can we better use technology to help us with our HR operation and getting to a point where we can sell our HR services to the wider market.
What other plans are there for Equiniti’s future HR vision?
We are also looking at a flexible benefits review. We recently conducted a survey with our staff to find out what benefits they’d like to see brought into the business for our flex offering next year. It is another major area for any organisation, as you don’t want to overspend on benefits and rewards but you do want to attract and retain talent, and this is a key focus for us. People are at the heart of Equiniti and it’s important we invest in them.
A major element for HR functions is the employee engagement process. We are thinking about how we can best communicate Equiniti’s strategy to our people, and how their roles support that strategy, and this is going to form a fundamental part of our future HR focus.