The Human Resources Department of a company is one of the most substantial factors that contribute to either the downfall or the success of a company. Managing employees is quite different from steering a business towards triumph. Even the most veteran business owner acknowledges that a department dedicated to HR processes alone is vital to any company
An experienced HR manager can quickly identify any inefficiencies of the company while consistently be able to bring in talented employees into your organization. Three factors that suggest that a company has a successful HR department are its High Employee Retention Rate, Employee Satisfaction and the prevalence of strong company culture. Studies find that engaged and motivated workers show 21% better profitability which is a massive boost to your productivity levels.
One mistake that you can make is not providing enough attention and resources to your HR department. According to a study, US companies lose over $550 billion annually because the employees are disengaged and unmotivated. If you truly want your company to succeed, then you need to accept the fact that taking care of your employees is a necessity. After all, 75% of employees are more determined to stay inside a company if they feel that the higher-ups listen and more importantly addresses their concerns.
According to Work Institute, the top reasons for employees leaving their jobs is the lack of career opportunities (22%), the company’s inability to support work-life balance (12%), a higher-up’s unethical behaviour (11%), low wages and benefits (9%), and reduced well-being (9%). These are factors that your HR department must immediately address and resolve.
Here I have listed some of the best ways on how to upgrade your HR department.
Rigorous Hiring Process
It is essential that you be meticulous with the employees that you decide to hire. It may get tempting to get that fresh grad with the lowest asking salary among its counterparts or the old guy with 20 years of experience already, but this should not be the case. Make an effort to comb through all of your candidates and determine whether they would fit within your organization and if they can work well with others.
When you tighten the hiring process, the chances of bagging a talented employee increases. On the other hand, determine what kind of guy you need. Do you need someone who can manage themselves and others while performing their work correctly or can your company accommodate a fresh grad with no work experience but is willing to be trained and learn?
At the same time, take some time to verify that all the written information in a candidate’s CV is factually accurate to avoid the complication of having a fraud inside your organization.
Consider Hiring Overseas
Expand the talent pool within your group by hiring overseas employees. These staff will add a different dimension to the company’s culture and perspective. Foreign staff bring unique skills and knowledge that can be used to improve the company’s operations. The cherry on top is that having a foreign employee on board is perfect if the organization is planning to expand into their home country. For example, if you plan to set up shop in China, hiring a recruitment agency in China to find you a skilled employee is the first step to gaining a huge advantage.
Train Your Employees
According to multiple HR studies, investing in the professional growth of an employee is crucial to an individual’s decision of whether to stay and go. Investing in the improvement of your workforce through classes, training and regular seminars will go a long way especially as it brings the output quality up.
For instance, the future of data science jobs is quite bright, and this is why companies invest hundreds and thousands of dollars training their employees to be familiar with data science.
Guarantee Internal Mobility
Make sure that when you hire someone, whether they be a fresh grad or an experienced senior-level employee, they have an internal career path laid down for them. A newcomer must be able to visualize themselves in a senior position inside the company a few years in the future. It gives the idea that if they work hard enough, they will get rewarded. One of the contributing factors that push employees to leave their current jobs is the feeling of being stuck in a dead-end. A regular performance review and the opportunity to be promoted to a higher rank will do the trick.
Provide Employees With A Work-Life Balance
Even the most hard-working and motivated employee can burn out over time. This unfortunate reality is why companies must provide their staff with a work-life balance where they finish all their deliverables while still having the time and energy to rest and have an active social life. This significantly uplifts their mood, which translates to higher productivity and better motivation.