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GOVERNING THE CORPORATION WITH HR GOVERNANCE

PRESENTED BY:  

Adefemi Akinbani, MBA

Management Consultant           

HR Governance

An overview

Governance in general has to do with the idea of leadership, and how control is being exercised over body and the systems and procedures employed for such control. Here you exercise authority on behalf of a person or people. When we talk of the governing of men, corporate governance or HR governance, we are referring to the acts such as: the practices and procedures that are put in place to help institutions, organisation alike, achieve goals ethically, and in the best interest of all stakeholders.

 

HR governance is one of the organisational practices that are very much new to the corporate world, researchers, business experts and professionals. And the practice is synonymous with corporate governance but in actual practice, the two are not the same. While corporate governance issue touches on supervision of executive actions, the transparency and accountability in governance of companies within a regulatory framework, and for other purposes among others, however, the good thing is that the two practices, among other practices work for the benefit of a company especially in realising organisational goals.

It should be noted that corporate governance cuts across all organisational parts, HR governance issues are specific and limited to HR activities

Putting HR Governance in a context

HR Governance is more or less a systemic approach to management that enables the HR function to achieve strategic and operational objectives and performance

 

The seemingly complexity of HR governance does not easily give one the benefit of giving it just one definition but , HR governance could be defined as the act of leading HR function and managing related asset to:

·         Align the HR functions priorities with those of the business,

·         Assist HR executive decision making

·         Optimise performance of the organisation’s human capital assets

·         Mitigate enterprise HR risk

·         Define stakeholders and their expectations; and

·         Fulfil (certain) responsibilities

                                 

The Fundamentals:  A close look at HR functions

·         Hiring ·         Policies ·         Practices ·         Compensation and benefits ·         Organisational developments ·         Labour relations

Hiring: Recruiting and hiring good employees  is one of the most critical of all the areas.  HR is responsible for overseeing the company. HR should think the process because, hiring the right people is the ultimate in staffing practices i.e. identifying staffing needs;  developing  staffing  strategies  that are keyed to company’s  short- term operational needs and long term strategic needs; overseeing the recruiting process and its many components; providing needed guidance necessary to help functional managers make the best possible hiring decisions , among others.

Policies: Policies are guidelines defining how values, principles and strategies of an organisation is conceptualised, formed, developed, implemented and monitored for compliance. One of the major functions of HR is to coordinate activities concerning all the processes leading to formation, development, and implementation and monitoring .

Thank you.