Human resources in most industries have long since changed from solely handling onboarding paperwork and developing organizational policies. In 2020, many companies around the world had to abruptly implement changes in the way they run their operations. There are many new local and federal employment regulations as well as best practices surrounding remote work, on diversity and inclusion, and psychological safety, amongst others. In fact, HR’s role has also been affected by the availability of digital tools that significantly change the way they handle their tasks.
Human Resources must be able to adapt to these developments and keep up with all the company changes so that they won’t be left behind. For instance, if the company is expanding, HR should be able to create an effective system to help the company set employment standards and find the best talent in the market.
Yes, you could say that human resources now functions as a strategic partner of the organization. Now that you can see some of the evolution within HR,, here are some people focused HR strategies that may have been overlooked by your organization:
1) Coming Up With a Retention Strategy
According to Forbes, one in three hires leave a company within two years. Considering that employee turnover costs employers about 33% of an employee’s yearly salary, the organization will indeed suffer a significant loss unless HR develops an effective retention strategy that is approved by senior leadership. Ask yourself, “What can human resources do to impact employee retention?”
The HR team must be able to identify what causes employees’ disengagement and address those items immediately. Because of this, the human resources department may have to develop strategies like offering additional time off or flexible schedules. You see, engaged and happy employees are productive employees. Your people will recognize the organization’s efforts to make their job more comfortable and more fulfilling, and they’ll reward the company with loyalty.
2) Pushing for C-level HR Support
If your organization is still stuck in its old ways of keeping the HR team behind the scenes, you must immediately reconsider the way you do things in your company. True, management may resist such a change, but suppose HR had a seat at the executive table. They would allow them to make a case for the changes they have identified that the organization needs related to its people, but it would also show the employees that HR has the support of the company’s executives. This not only sets a positive tone from the top but also shows the employees that the organization is invested in their growth, development and that they are a valued asset in the organization.
3) Incorporating an HR Analytics Strategy
Your HR team can be even more efficient if they have the right tools that allow them to monitor analytics like engagement data, employee feedback, turnover and business intelligence. With analytics, HR will be able to provide management with data-backed insights that will help the latter make informed decisions. Of course, the goal is to improve the overall performance of all the departments in the organization.
With valuable analytics strategies in place, the organization will have all the information they need to come up with effective plans for improvement for various matters, such as recruitment, employee engagement, and succession tactics. In fact, the last matter will significantly lessen the risk of disruption in the company when someone who holds a vital position in the business leaves. Succession planning and/or talent mapping allows HR and management to identify employees who have the knowledge, skills and abilities to assume the role as soon as possible, so the position is not left vacant for long periods.
It is clear that while these HR strategies should be implemented consistently, human resources should also review their approach on a regular basis to see where they could make improvements. With effective strategies in place, your business can retain valuable employees who will continue to help your company grow and expand over time!
Whether or not you have an in-house HR department, your organization will benefit from Involvi’s seasoned consultants’ expertise. Our team in Alberta can provide you with HR services and an HR hotline for support. Connect with our experts today and get a free consultation!