Strategic HR for Business Success
The year will quickly come to a close, and many small business owners and executives like you are reflecting on the performance of the current year and already planning for next year and beyond. With the recent myriad of employment law changes, businesses have been taking a much closer look towards the management and structure of their existing workforce. As you assess new best practices to help advance the goals and success of your company, consider how strategic HR plays a key role.
What is strategic HR? Strategic HR is simply about focusing on the performance of each employee and the organization with direct measures to determine the success of your company's business strategy.
Where does your business stand in terms of strategic HR? You can get a better idea by answering the following types of questions:
- Do you need different knowledge, skills, and/or abilities from your workforce in order for the business to grow?
- Do you clearly convey the expectations and the business value of each person's role in the company's direction?
- Have you adjusted your talent acquisition approach as necessary?
- Do your performance management and employee development efforts actually improve performance and help you prepare for future opportunities?
- Are you adapting to updated technology to automate inefficient processes?
- Do you evaluate the relevance of long-standing practices?
- Are you tracking the right metrics?
- Does your company further minimize risk by remaining compliant with employment laws?
The more no's or don't know's you answer, the greater efforts your company needs to improve.
How can you apply strategic HR to your small business environment? Strategic HR is not just for big corporations. Small businesses can also put this concept into motion. Some action items include:
- Identify current state and future state and develop a plan that supports company values and aligns with short and long term business goals.
- Create a succession plan in case the business leadership and/or ownership changes.
- Find out how your top competitors get and keep their talent. Then do it your way.
- Develop a clear and accountable feedback process to support employees in their professional development (i.e. skills training, workshop seminars, coaching, etc.).
With strategic HR in mind, your goal is to ensure that the talents of all your employees line up with the company's business objectives. Accomplish this, and you're well on track to much greater success.
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