For the past several months you’ve heard the buzzword “The Great Resignation” floating around in nearly every publication. It’s a direct result of employees having had enough and moving on to greener pastures, even if that means not having another job lined up. What’s not being discussed enough is the overhaul human resources strategies, processes and teams are in. Companies are shifting their approach to one that addresses current challenges while making a direct impact on a company’s growth: strategic human resource management.
Mildly different from traditional human resources, strategic human resource management has a wider reach throughout the organization as it links HR with goals of the company, not just labor relations, solving employee problems and keeping staff generally happy. Many modern businesses recognize the importance of HR, but especially so in today’s climate, as many struggle with how to stop the exit of their top talent.
To move into a well-defined strategic approach, organizations should align with business units and their managers top-down and become more proactive versus reactive. An example of this is instead of waiting for a department manager to notify the HR teams of an open position, the HR team, having already been adept to the business strategy and goals, will proactively recruit and hire.
Other strategic processes include:
· Assessing current talent. Before proactively hiring and making plans to bring on the best talent for an organization, HR teams should look at what talent is currently at the company. Self-evaluations, past performance data and an inventory of skills help to outline what is really needed at a company.
· Forecast HR needs. After taking an inventory, it’s important to assess supply and demand for employees with the desired skillset in or outside the company. With the previous assessment of talent, employers should be able to determine what needs can be fulfilled by staff and where they lack. HR teams will then be able to develop a plan to link demand and supply and train/hire.
· Talent Strategies. After the initial process of inventory and forecasting, adding talent should become a fairly easy process. But the strategic human resource management aspect makes it a little more complicated having to account for things like- talent development, training, strategic employee benefits, performance management and relations – aspects that sometimes traditional HR teams aren’t involved in.
· Evaluation. After a strategic human resource management process has been in place for a while, the success and continuation of the program depends on an adequate evaluation. Has the plan helped the company achieve its goals in production, profit, employee retention and satisfaction? By evaluating the process, the company can ensure that this strategic effort is working and if not, there’s opportunity to realign.
The value of a strategic human resource management process is exponential. HR teams are the foundation in which talent is developed and how a company can continue to grow. At the heart of every company is employees – brought in to help scale in one way or the other, so instilling a process that ensures their talent strategically helps the company achieve goals while increasing job satisfaction, better work culture, efficiency, and boosts to productivity seems like a north star to success.
Ready to make Quit Genius part of your human resource management strategy? Get in touch with us today!
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