Working Models in the Workplace

Finance operating models are designed to dictate how the finance function delivers value back to the business. Finance operating models address three fundamental principles to enable finance teams to succeed: capacity, capability and collaboration. By making these three areas a priority, finance teams are set up in the best possible way to drive strategic value in a business.

It is also crucial that an organisation’s finance operating model is supported by functionality within the organisation’s accounting solution. Without this, the hard work which is put into the values and structure of a finance operating model won’t be as effective and the effort will be wasted as the processes in your technology do not match your strategic goals.

Make sure the team you have in place has clear and defined roles with objectives which link back to overarching business strategy and working models. Your structure should mirror your finance operating model, ensuring that collaboration, capacity and capability are mapped out in your structure. By doing this, your team will be set up in the best possible way to support initiatives and future growth.

To help achieve this, employees need to have a clear view of their goals and feel accountable towards the wider objectives of the team and the business. Having a clear understanding of how their individual goals help to achieve bigger goals set up in your finance operating model will mean this becomes business as usual and will aid success.

Strategic onboarding refers to how new starters are inducted when they join an organisation. With the vast majority of onboarding programmes now completely virtual, businesses have been forced to consider alternative strategies and what the future of onboarding may look like. Find out more about the different types of strategic onboarding and the future of onboarding.

In order to create a successful workforce planning model, businesses need to be able to understand the following:

• Current and future workforce equipment / hardware requirements so that employees can fulfil their roles.

• Skills resource gaps against current and future needs

Businesses can only effectively create a workforce planning model when they have the appropriate technology solutions in place. Organisations should look to combine time and attendance software, employee management software, performance management and payroll software together in one unified platform to effectively manage their people.

A flexible workforce model is a strategy which enables employees to work hours which suit them – and this may not always be a traditional 9-5. It also allows employees to be flexible about where they work, which may be at home, another remote location or in the office. Many businesses are now looking to adopt a flexible workforce model to improve employee happiness and retention as well as increasing overall productivity in their organisation. If employees can be more flexible around how, where and when they work, businesses are likely to get the best output from them.

HR working models are designed is to help companies manage their workforce successfully.

They also exist to ensure that employees have processes in place which aid productivity, wellbeing and their overall engagement and satisfaction working for the organisation. Working models provide structure and clear focus for employees.

There are a variety of HR models that businesses can adopt:

• The Standard Causal Model of HRM

• The 8-box model by Paul Boselie

• The HR value chain

• The Harvard Framework for HR

The HR team structure is also really important to shaping the business model. Many HR teams put roles in place that support their working model, such as: HR Shared Services, HR Business Partners and Centres of Expertise. This helps to drive operational efficiency and excellence as your business structure is formed around supporting your workforce in a clear and defined way. By implementing HR models, many HR teams see enhanced employee engagement and retention.

A digital business model is where digital transformation is at the heart of a business’s strategy. Digital transformation is when a business reviews the integration of digital methods and systems in business, in order to replace inefficient analogue and manual versions. Generally, businesses are looking to adopt a Cloud digital business strategy as this is more secure and flexible than on-premise alternatives. Find out more about digital transformation.

A digital maturity model is a framework that enables you to understand how digitally mature your business is. Following a digital maturity model will enable your business to understand how far along your digital transformation path you are and what the next steps should be to achieving your desired outcome. There are a range of different models which exist, pioneered by the likes of Google and Deloitte, however the majority of digital maturity models are centred around the following pillars:

•Operations

•Organisation Culture

•Organisation Strategy

•Technology Adoption

•Customer Demographic

When looking at your digital maturity model these are the five most important things to keep front of mind. Ensure you are meeting the requirements of each of these areas to bring about success.