Evolving profiles in HR strategies in the financial services industry

The relationship between HR and business functions has always been a delicate one, and often, due to reasons of organizational structure, competencies, and business culture, HR is considered an accessory to be "used" without specific strategic planning models, especially in the long run; sometimes there are the intentions of a certain "planning" but in practice (the acted) intentions are not materialized. The issue is noticeably perceived by HR management, which tries to win, often in vain, a position as a strategic partner. Despite the fact that the role of the HR function is now considered crucial in the development of distinctive competencies, the Italian banking context seems not to recognize the involvement of HR in planning related to strategic choices and goal setting. More generally, the HR function suffers from a lack of involvement in activities that preside over projects related to decisions involving OSF (underlying strategic orientation) practices on the part of both the business and Central Management.The outputs of the Workshop held in 2006, highlighted these issues, and the results are considered in this context a starting point and reference point for studying the issues of interaction and integration between HR and other organizational functions.The Workshop aims to analyze the delicate relationship between the HR function and business, highlighting issues concerning alignment. Issues concerning the development of specific HR competencies to play a central role in strategic planning in the context of financial institutions will then be explored.