For years, HR was largely relegated to routine administrative tasks and recruiting activities, but there are countless ways HR can contribute to business success and the achievement of strategic objectives.
We are gradually witnessing a significant increase in the importance of Human Resources Management in business growth. HR strategies for business growth focus on recruiting and retaining the right talent, but they can also involve active participation in key business decisions by providing a different perspective to the business.
The role of HR professionals extends to people management, shaping management policies geared toward staff well-being, and ensuring they have the resources to do their jobs well. This can ensure that HR contributes to business growth in multiple effective ways.
From this context, how can Human Resources contribute to the business?
Human resources professionals who have the opportunity to experiment and reorganize other priorities in their area are better positioned to help the company grow. It's up to them to take the pulse of the organization and give employees what they need.
RECRUITMENT AND RETENTION STRATEGY
HR strategies for growing companies begin with recruitment, development, and retention. HR is not limited to simply posting job openings and hiring effectively; it must also ensure employee productivity is maintained, maintain a balanced organizational structure with respect to the necessary staff, and eliminate any obstacles that could hinder the business.
HR professionals are responsible for designing simple recruitment processes and improving the company's external image to ensure it remains a place job seekers want to work.
From a recruitment and retention strategy perspective, there are ways HR can contribute to business growth:
- Research what the competition is doing, as well as relevant HR trends and policies.
- Provide competitive benefits and opportunities for employees.
- Design appropriate ways to recruit and attract potential candidates.
- Leverage social media to recruit candidates and build a positive external image for the company.
- Explore job boards and fairs to recruit talent.
- Eliminate outdated hiring practices.
- Analyze selection processes to improve the hiring experience.
- Using technology and human resource management services to streamline the hiring process
IMPROVE EMPLOYEE ENGAGEMENT
A verbal and social thank you can do wonders. Public recognition and promotion are among the types of procedures that a company can offer and human resources teams should encourage to improve employee engagement. Other options:
- Enable collaboration across teams and departments
- Promote communication and organize channels for it.
- Provide avenues for employees to express their opinions and feedback.
- Team building activities.
- Conduct periodic surveys on employee workload, workplace culture, job satisfaction, etc., especially after new policies and changes are introduced.
- Conduct periodic performance reviews and feedback sessions.
- Recognize employees who have improved their performance.
Human Resources Analysis and Data-Driven Decision-Making
Data, people analytics, and dashboards are metrics that go beyond sales and the bottom line. Companies must create mechanisms to predict future workforce needs. HR strategies to contribute to business success include:
- Analyze skills gaps to understand where the workforce is falling short.
- Define KPIs well to help with career plans.
- Analyze indicators on selection processes, labor costs, and recruitment plans to optimize recruitment strategies.
- Using past data (secondary data) to plan and predict the future.
- Analyze staff needs and establish their interests, preferences, work priorities, etc. (satisfaction and work environment studies).
- Study turnover rates to implement preventive measures.
- Data collection for effective decision-making.
- Analyze employee departures and use them to improve the company.
PROFESSIONAL DEVELOPMENT TO ACHIEVE BUSINESS OBJECTIVES
It's very common for an employee to grow in their career when changing companies. HR must prioritize employee growth if they want to contribute to the business.
- SWOT analysis to assess employees' strengths and weaknesses.
- Identify high-potential employees and develop them into positions of greater responsibility.
- Create development programs on leadership, decision-making, time or change management, etc.
- Develop promotion and/or succession plans to ensure key positions are filled on an ongoing basis.
- Establish mentoring programs that create an internal support network.
- Promote interdepartmental and functional mobility.
- Ensure that employees have the skills and knowledge necessary to effectively leverage new technologies.
The way personnel are managed can contribute to a greater or lesser extent to business growth. To achieve this, strategies must be explored to make HR's contribution to the organization's success much more relevant and considered strategic.
If you want to know more about Human Resources, people development and talent management, visit our blog