There has been a lot of discussion recently about the changing nature of the Human Resource Business Partner (HRBP) role. As someone who spends their time talking to both senior HR candidates and the organisations hiring them, there is no doubt that the HRBP has evolved significantly from the Ulrich-inspired model that has dominated from the 1990’s. Many of the clients I partner with expect an HRBP to take on far more of an in-depth role than might have been expected previously, acting as employee relations escalation points, policy advisors, or translators between managers and COE.
Hiring managers increasingly want an HRBP to have:
This means that the strongest candidates in the market are already operating less like traditional HRBPs and more like business consultants with deep people expertise.
One of the biggest frustrations I see in the market is that HRBP has become an almost meaningless label, which is assigned to a wide range of HR professionals.
A Senior HRBP in one organisation may genuinely sit alongside a Managing Director shaping strategy, while an HRBP in another organisation is effectively handling casework, recruitment approvals, policy queries and day-to-day transactional work. Therefore, the label may not always reflect the value being delivered.
However, it is not true to say that the HRBP role is disappearing entirely; instead, it is polarising. Looking at the vacancies that clients are creating and the candidates who command premium salaries, I see two distinct outcomes. Lower-value HRBP work is being automated, centralised or moved into shared services. At the same time, high-value HRBP work is becoming more strategic and more important.
The market is not saying that it does not need HRBPs; it is saying that it does not need HRBPs who only provide HR support.
Our clients operate in highly competitive talent markets where attracting, developing and retaining exceptional individuals can have a direct impact on firm performance. Consequently, demand continues to grow for HR leaders who can partner credibly with senior investment professionals and influence decisions relating to talent, leadership and organisational capability.
What has diminished is the demand for HR professionals whose contribution is primarily administrative or process driven.
One weakness in many “future of HR” arguments is the assumption that leaders will work directly with specialists, analytics teams, reward experts, talent teams and technology platforms.
In reality, senior business leaders are busy. They often need a trusted individual who can:
Within investment firms, this translation role is arguably even more important. HR leaders often sit between business leaders, investment professionals, functional experts and executive committees. They are required to balance commercial priorities, performance expectations, succession planning, talent development and reward in environments where the cost of hiring mistakes can be significant.
The strongest HRBPs are therefore not translators of HR policy. They are translators of business strategy into talent outcomes.
If I think about the strongest HR leaders currently in the market, very few are trying to move away from business partnering. Instead, they are positioning themselves as:
The common thread is not the title, it is their ability to influence business outcomes. In fact, many HR Directors and Chief People Officers built their careers through business partnering roles. That career pathway remains highly relevant.
When investment firms engage recruiters at this level, they rarely say: “Find me an HRBP.”
More commonly, they ask:
“Find me someone who can advise senior stakeholders.”
“Find me someone who can help us assess and develop leadership talent.”
“Find me someone who can build succession depth.”
“Find me someone who understands performance-driven cultures.”
“Find me someone who can influence senior investment professionals.”
Interestingly, many of these individuals still carry HRBP or People Partner titles. The role may be labelled HRBP, but the capability being purchased is strategic influence, judgement and commercial partnership.
It is true that the traditional HRBP model is under strain and that many organisations need to rethink how HR creates value. However, from a recruitment perspective, particularly within investment management and Private Equity, this looks like evolution rather than extinction.
The administrative, process-heavy version of the HRBP role is undoubtedly in decline. However, the strategic HRBP, someone who can influence senior stakeholders, shape talent strategy, strengthen leadership capability and align people decisions with business objectives, has arguably never been more valuable.
Within leading investment firms, where talent is the primary source of competitive advantage, that evolution is already well underway.
Looking to hire a strategic HR leader who can influence your senior stakeholders? Get in touch with Bailey to discuss your search.
