Five Ways HR Can Help Your Business Prosper

The human resources department was once considered a support function within a business, often tasked with handling mundane responsibilities such as payroll or resolving compliance issues.

It was often overshadowed by the more glamorous departments like marketing and sales, whose efforts directly correlated to revenues, market share, and other critical bottom line metrics. However, today’s savvy organizations have come to realize that human resources provides valuable strategic direction that enhances and grows their businesses. After all, what is central to every organization’s success? Its people. And as the sole function that’s dedicated to an organization’s people, HR can be your secret ingredient in the recipe for business success.

If you haven’t given it much thought before, it’s time to consider a few of the many ways human resources done right can help your company to flourish:

1. People strategy: Human resources can provide executives with valuable analytics, data, and advice to help effectively plan for the company’s future. Succession planning, outsourcing needs, determining the best use of people within the organization, and discovering the most effective management strategies and tactics are just a few of the many areas where HR’s eye can deliver a big impact.
2. Career development and training: If you want your business to grow, your employees need to grow too. By putting an emphasis on career development and training, staff members have an opportunity to increase their skills and experience, thus preparing them to take on more responsibilities. Career and development opportunities also demonstrate to your employees that you’re willing to invest in their careers, resulting in increased productivity and improved morale.
3. Attract and retain top talent: In order to deliver the best products and services, you need to hire the best employees. In today’s competitive business landscape, it’s becoming increasingly difficult to find and keep those excellent workers. HR is responsible for understanding and anticipating your organization’s talent needs, knowing where to find that talent, and determining how to create an appealing offer that won’t blow the budget. In addition, your human resources team holds the key to building an engaging internal culture so that your superstars will want to stick around.
4. Build the performance management foundation: In most companies, HR develops, implements, and monitors the infrastructure of the appraisal process. Solid human resources staff can recommend appropriate performance management processes and communicate them effectively to your entire organization.
5. Implement recognition and rewards programs: Research has shown that companies that excel at employee recognition are more likely to generate strong business results. The turnover rates in companies that consistently offer recognition and perks are also very low. Your HR department plays an important role in devising effective reward strategies and recognition programs to enhance employee job satisfaction.

Let your HR department help you grow your business. Empower them to create a work environment that attracts the best of the best, makes optimal use of their talents, and keeps them happy and motivated.