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5 Key Factors in EU Businesses

5 Key Factors in EU Businesses

Organizations across all industries are undergoing innovation to redesign existing business models and bring in new methods to conduct business.

However, within Europe 82% of Nordic organizations recognize digital transformation as a business priority while only 57% have begun to journey down that path.

The shift to digital business models requires fundamental change to primary core processes. Organizations in Europe are aware of these challenges, specifically those related to organizational leadership, the ecosystem, operating models, and workforce and information management.

HR professionals in the EU will certainly be facing a new set of challenges during this massive transformation journey.

While Nordic countries score high in terms of employee happiness and work flexibility, there is still a wide range of challenges to be aware of.

Here are 5 key elements that HR professionals needs to consider when it comes to talent in Europe:

#1 HR is a differentiating component in this transformation. According to IDC, 84% of organizations are digitally transforming or planning to undertake the journey. Over 80% of these organizations believe that HR is a very critical factor in this exercise.

#2 During digital transformation, cultural change is a priority that HR should have at the top of its list. They can implement cultural change through training, measurement, and incentive systems.

#3 Having a better onboarding experience will allow HR to contribute to retaining the best talent within the organization.

#4 Organizations should invest in the right tools and technologies for its HR department to have a comprehensive Human Capital Management system which can induce enhanced performance

#5 Organizations across Europe are making strong investments to help employees work in a flexible way. Organizations are implementing collaboration tools and touch-enabled devices for an improved experience.

Developing talent in the middle of change is no easy skill and planning for the future can be difficult. But with a keen sense of awareness about HR capital management in Europe, ensuring a more strategic process is in place can be the first step to unleashing the best talent.

To help you discover the best ways to work with talent and HR departments in Europe, click the link below for more information.

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