By Melissa Front
When you think of business strategy and drivers for success, do you think of Human Resources? Well, if you haven’t been, now is the time to do so! HR plays a strategic role in an organization’s success. According to Insperity, “when HR is executed well, businesses reach their goals and achieve desired business outcomes.” The connection is real as are the consequences of limiting HR’s role.
HR is so much more than mitigating risk and ensuring compliance. Here are five ways that having HR as a strategic partner will help contribute to an organization’s growth and success.
Drives Talent Acquisition as a Strategic Advantage
Recruiting the right talent is key. When a company hires the best candidate for a role, they’ll bring more than their knowledge and skills to the position. They’ll help build a strong culture, be interested in the overall direction, and will contribute to the success of the company. When organizations and employees share similar goals, company performance improves, and employees are happier.
Uses Data-Driven Decision Making with People Analytics
One of the best ways to keep your business on target is through data-driven decision making. Data is a powerful tool and should be used to drive business decisions, including recruiting talent. You can read an in-depth blog about data-driven recruiting here. Companies will benefit from using this data in several ways and will ultimately improve overall efficiency & productivity, especially with the recruiting process. By using data to make hiring decisions, you will reduce hiring costs, recruit higher quality candidates, and reduce the dependency on emotions and instinct when making hiring decisions. Some examples of data to track include measuring the quality of the hire, time to hire, source to hire, and cost per hire. Companies need to decide what data points make the most sense for their business and determine how they’re going to incorporate the data into their recruiting strategy.
Builds a Consistent Employee Experience
Championing the employee experience is paramount. Hiring a great employee is only part of the equation. Keeping the employee engaged and showing employees their value is another. A positive workplace culture enhances the employee’s experience and fosters collaboration and creativity. Employees will stay longer when they’re involved, feel valued, and enjoy working with their colleagues.
Provides Employee Growth and Development
HR can design programs that nurture talent at all levels, from entry-level employees to senior leadership. By investing in training, mentoring, and leadership development, HR ensures employees grow with the organization. Developing your employees improves retention and proactively plans for the future. Providing ongoing training and career planning for your employees will demonstrate your commitment to them and set you apart from your competitors. Employees will learn new skills and take steps towards achieving their career goals, which will ultimately build a stronger team and benefit the company overall.
Creates and Maintains Succession Plans
A robust succession plan ensures continuity in your business strategy. Succession planning also reduces risks and ensures smooth transitions in critical roles. It starts with the Leadership Team. The Leadership Team needs to make succession planning a priority and develop a formal plan. Companies should have conversations with their employees and create a personalized development plan together. It is critical to check-in with your employees regularly and monitor their progress so you can adjust the plan as needed, taking into account any gaps or shifts in interests. Check out our three-part series on succession planning (Part 1, Part 2, and Part 3). Remember to use data metrics to gauge the impact of your training and development programs. By developing your employees, you’ll be grooming future leaders and be poised to handle future challenges and pivots.
The cost of not having an HR operation that’s aligned with overall business goals is enormous. From decreased productivity to a higher turnover rate, it doesn’t make good business sense. Why waste your effort and resources when you can invest in your employees, nurture your team, and play an integral part of building a successful company. According to Forbes, “by aligning HR initiatives with the business strategy, organizations can ensure that they have the right people, with the right skills, in the right roles, to achieve their goals.” Employees can help an organization achieve their goals because they know what to focus on and will have fun along the way. Spending time aligning your HR strategy will reap invaluable benefits to everyone going forward. Are you ready to invest in your team and grow your company?
At TalentRemedy, we help companies like yours find and retain top talent, no matter the industry. We especially love partnering with HR teams to help them hit their goals. If you’re looking for tailored hiring solutions that work, let’s talk! Reach out to us at info@talentremedy.com or 703-362-0175 to explore how we can support your recruiting goals.