3 HR Strategies You May Have Overlooked

Create employee handbooks ✓
Track employee hours ✓
Draft contracts for new employees ✓
Manage company benefits ✓
Handle employee complaints ✓

The list goes on and on. Across many industries, the role of HR has traditionally focused on endless paperwork and organizational policy development.

However, in today's technologically-enhanced workforce, the traditional role of HR is swiftly shifting. Many organizations have undergone significant changes in light of new employment regulations and more diverse, younger employees who demand modern HR departments. Above all, experts agree that the role of the HR team is now genuinely impacted by the rapidly expanding availability of technology and digital tools.

So the role of today’s HR director, manager or executive must parallel the needs of their ever-changing organization. Successful companies also realize they must become more adaptive, resilient and customer-centered.

Taking a More Strategic Approach to HR Management

The evolution of technology allows HR professionals to take on more strategic roles in today’s HR landscape. Organizations must shift towards strategic human resource management or use the HR department to formulate HR strategies based on the company’s short- and long-term goals.

As a result, the decisions that departments make must reflect goals that the company has set. For example, if the organization plans to expand, HR’s recruitment strategy should focus on creating systems that will allow the company to recruit and hire top talent. Within this new type of environment, the HR team acts as a strategic business partner as well as a change mentor.

Here are three additional HR strategies your organization may be overlooking:

Create a Retention Strategy

Did you know that the costs of employee turnover can range from 30 percent to 150 percent of the employee’s salary? Retaining talented team members can distinguish truly successful companies from not so successful ones. Many employees leave their jobs when they are disengaged. So today’s HR professional must identify what could make people in their company disengaged and figure out ways to remedy these issues.

A strong work-life balance helps create a solid retention strategy. Organizations that promote a positive work-life balance report lower turnover and recruiting costs and increased productivity from satisfied, engaged employees.

Additional successful retention tactics might include giving employees additional time off, supporting working parents via on-site day care or job sharing, and offering flexible schedules to accommodate busy families or supporting continuing education. Employees who have time to spend on maintaining their home life look at work less like just another chore to finish.

Encourage a C-Level HR Support Strategy

If you read anything about organizational change, it typically begins with the need for executive buy-in and support. Changing HR's role is no different. While many of today’s leaders and CEOs do understand the need for HR’s role stand on equal footing as any other business function, others tend to get stuck in a different mindset that is focused on keeping HR behind the scenes.

To shift management’s support of HR from providing transactional processing to offering valuable business insight, experts suggest first creating a business case for change. This method can compel HR to specify why their HR strategies need a more forward-thinking model, and clearly and effectively spell out the major advantages to the company.

Develop an HR Analytics Strategy

If you want to make your HR processes as efficient as possible, implement the right tech tools for your company, especially those tools that focus on analytics like business intelligence, employee feedback or employee recognition and engagement data. The power of analytics allows HR departments to use employee data to help management make more informed decisions about their team members and improve overall performance. Additionally, analytics can provide insight for effectively managing employees to reach company-wide goals more efficiently. With an analytics strategy firmly in place, executives can also better forecast a company’s future staffing needs.

One of the most critical advantages of incorporating an HR analytics strategy is having information ready and available for future leadership needs. Companies can develop everything from recruiting and development plans to succession tactics with data they’ve collected. Often an overlooked area, a succession plan can help minimize disruption by identifying vital roles in a company and employees who possess the skills to assume these positions immediately should someone leave.

HR teams can also track and measure data to continually improve organizational processes with an analytics strategy in place. For example, much of the HR technology available on the market today can help businesses make more informed decisions about what metrics are most critical to the company culture and overall business goals, as well as track them to drive employee engagement.

The Bottom Line

It is important to understand that implementing the latest HR strategies is an ongoing process. HR should plan to regularly review its approach and adjust various elements as the company changes.

Ultimately, to remain competitive, HR professionals today must clearly articulate their key role regarding the actual value they create for their organization. Equally important, senior executives must support and invest in HR as if it were its own business, surpassing the stereotype of HR professionals as simply support staff and unleashing their full potential as company-wide strategic partners.

How strong are your HR strategies? Do you have a retention strategy in place? Get started with Achievers’ infographic on 6 Stats That Speak to Employee Retention.

Are you having trouble engaging your employees? Learn how to address employee disengagement with Achievers' white paper on The True Cost of Employee Disengagement.

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