A few weeks back I was part of a team that facilitated a session for the national HR team of one of South Africa's private banks. It was a session that focussed on how the HR team could support and enable an audacious goal set by the company's leaders. Fairly early on in the session someone piped up and said, "We need to become business partners to the business to help the company achieve this goal!" All-and-sundry nodded in reverent appreciation for a true and noble statement. It was of course a truism that is beginning to apply more and more to HR teams globally.
We moved on in the discussion.
A little later on in the day the team leader was discussing the core competencies the HR team will require in becoming the team that will help the company achieve the aforesaid audacious goal. She listed "basic financial literacy" as one of these competencies.
The words were barely out of her mouth before I realised that I had nearly fallen off my chair. Basic financial literacy? This was a bank. Is it not a requirement that anyone coming in have some basic understanding of the core business of the company?
I was not the only one who nearly found them self on the floor. The team looked at their leader with disgust, jaws dropped and eyebrows were raised. The leader held her ground saying, "I want you guys to be able to read basic financial statements." Again, utter silence from the team.
"Why the hell would you want us to do that? We're HR, not accountants!" someone said. read more »

