Article | April 22, 2020
Human resource best practices has drastically changed in the last decade and it has been observed that somehow they affect the organizations in many ways. As a result of this, nowadays, creating programs that improve the quality of work environment, organizing activities to nurture talent anddevelop future leadersmotivating employees, etc. are the things that help align HR goals with the company’s vision. If you manage to make your sales guys happy, it results in a 37% increased sale. The same is the case with other departments. It is found that engaged and happy employees become 20% more productive in their respective work.
If your organization is dedicated to following HR best practices, you will be able to see higher employee retention andhappier employees who contribute to the best of their abilities.This blog will take you through HR best practices in 2020 where you will get to know which activities you can apply in your organization, why are they important and how it will affect the workplace in this and the coming years. Let’s go over them one by one.
Table of Contents:
- Providing Employee Security
- Hiring Right Candidate for the Right Position
- Improving Engagement Through Feedback
- Offering Flexible Workspace
- Compensation and Benefits
Providing Employee Security
It is an undeniable fact that secure employees can give the best work results. When we speak about HR best practices, it is the prominent factor that tops the list. Where there are many changes in the lives of employees, a stable job or workplace is something they look up to and when it comes to career goals of, it is achieved by them in the long term.
When employees feel constantly worried about their jobs, they can’t perform which affects their results. So as an employer it is your responsibility to make them feel secure providing everything which is necessary so that they can relax and settle into doing their best work. It is a proven fact that job security is the best motivator for employees around the world when they can see the direct correlation between work productivity and their future with the company.
The other side of employee security is retaining employees that can significantly affect your bottom line and increase productivity. It is not just about good employees leaving your organization because of employee security reasons but also being able to maintain them to boost the company’s reputation as an employer as there are always some organizations that are willing to hire good employees. For instance suppose some X number of employees stick together with your organization for a long time, they are more likely to work on dynamic projects. They are the ones who create a stronger bond and bolster a strong sense of corporate culture.
Hiring Right Candidate for the Right Position
You obviously can’t hire people just for the sake of filling the positions because it seriously affects the organization in long terms. Here comes the selective hiring approach. What is it exactly? Hiring people who are not just fit for the role but also exceptional and can add value is something that every employer would want to invest time in. Performance analysis gives eye-opening data about hiring the right candidates. According to research, the difference between an average performer and a high performer can be as high as 400% and the data proves to be true for various industries, geography, and job types.
So it is supremely important to bring the right people in the organization to build a competitive advantage.
With the technological advancement, hiring professionals are availed with faster hiring software and tools that save your time. Further, to filter out candidates, the selection criteria that decide the characteristics of a candidate can be divided into 3 sections as ability, trainability, and commitment. Depending on these capabilities, it becomes easier for you to make hiring decisions.
Improving Engagement Through Feedback
Employee feedback is beneficial for both i.e. employees and the company. For employees, it is beneficial for career development and for employers and the company it results in much better and improved productivity. So it is important to note that every person involved in the feedback process is well aware of what needs to pay more attention and that fills the gaps for overall success. To support why employee feedback is necessary, there are some stats.
-69% of employees say they would work harder if they feel their efforts are valued and recognized.
-In a study of 65, 672 employees, Gallup (An American analytics and advisory company) found those employees who received strength feedback had a 14.9% lower turnover rate than those who did not receive any feedback.
Growth seems impossible without crucial feedback that is delivered regularly. It impacts financial growth, leadership growth, employee engagement, and the cultural growth of the company.
Offering Flexible Workspace
Nowadays workplaces have become more than cubicles where employees just come in, make them comfortable and focus on work with freedom in mind. If you are wondering about how office designs can motivate employees to increase work productivity then it will be good to know for you that many companies are investing to support flexible workspaces. Even if the existing design of your office is professional, you may be lagging in getting the most out of available space and when you think of employee comfort and workflow. To start with, simply you can allow them to tailor and custom their desks inspiring flexible work environment.
Another aspect that comes under this category apart from physical space to work is giving your employees access to work from home. In the end, employees are people with different preferences and to value their preferences is surely going to result in better productivity making more profit in the business. So it’s always an option to think about how and when they work which is going to save money, time, resources, enhance productivity, creativity, creating happier and healthier teams.
So, here is an opportunity to make it a win-win situation for business owners and employees to cherish in 2020.
Learn more: Critical factors that affect employee productivity
Compensation and Benefits
After hiring the right people what HRs need to focus on is retaining them balancing their and the company’s growth. These are the people who will be adding value and achieving goals of the company so you need to pay them fairly and inspire to make them stay. Apart from this, you can give them performance-based rewards appreciating their contributions at every step of the journey. Activities like this create a sense of ownership for employees and they get motivated to maximize their results, commitment to the company’s long-term visions and you will be able to retain high potentials.
Article | April 22, 2020
As an employer managing HR tasks or someone working as an HR professional, it’s likely that your duties can often be quite a challenge. There are many everyday tasks you must fulfil, from inputting new starter information to dealing with holiday requests and entering performance data. No doubt you’re often time poor and that’s where self-service HR tools can come in, helping to streamline your everyday processes. In this article, we look at how self-service tools can help with everyday tasks, from arranging interviews to requesting shift changes, so you can focus on tasks that add more value to the business.
Article | April 22, 2020
In Executive Search now, we have a perfect storm. There is a shortage of labour, a shortage of skills, and a shortage of talent. On top of that we have a global pandemic. A pandemic that is affecting employment now, but it is employment that will bounce back when we get through this.
However, the current situation presents a new challenge for businesses considering how to build their A Team when this startes to recede. We have seen businesses caught up in "now" - and rightly so. We have also seen businesses, still concerned about now, but making plans for the future. It is the agile and the ready that will emerge fastest.
Over a decade ago the Productivity Commission published a report called The Implications of a Ageing Australia. At that time they identified that by 2021 Australia would have zero net new entrants to the workforce. This is not a forecast, it was a demographic certainty as an understanding of the retirement rate is reliable and birth rate from 2003 is simply a matter of fact.
So, it is demographics that produce the labour shortage. This is at a time when there has been substantial growth in high-paid high skilled roles and also growth in low skilled low-paid roles. Across the OECD, it is the roles in the middle, the so-called middle management roles that have been decimated.
In looking for senior executives to join an organisation as this crisis recedes boards and hiring managers need to be considering how they can best access the required skill set. They also need to be considering the additional dimensions that define talent. Across most high-value roles, on top of the requisite skills for the job, the ability to think and act strategically, the capacity to embrace change and even drive it, and people skills, specifically the ability to inspire and motivate others are what separates the merely well-qualified from the leaders of the future. We also believe a new form of holistic leadership will emerge, systemic leadership. It had already begun, but in 6 months time, the new breeed of leaders will have a different view of the world. Leaders who can see their decisions influenced more by compassion, caring for us all and for the society we live in.
It will be easy for organisations to sit on their hands when looking at the talent that they will require going forward. However, the current global pandemic will, one way or another, come to an end. With real talent in such short supply, it will be the brave and bold organisations who fulfil the talent requirements right now that will have the capacity to pull their businesses through into a new growth curve in the near future.
These are troubling times, but the reality is that organisations large and small need to re-think leadership.
Article | April 22, 2020
Editor’s note: This article was first published on 17 April 2020 and is being updated regularly. The Coronavirus Job Retention Scheme (CJRS) was the lifeline that many employers had been hoping for when it was announced in March 2020. Since that time, the government has evolved the scheme and introduced additional rules. Most recently, these changes have focused on reintegrating a workforce within the business, and winding down the scheme in October 2020. From March through to the end of July 2020, the scheme means staff can be temporarily given a leave of absence while the government pays 80% of their salaries (plus employer National Insurance, and the minimum mandatory employer pension contribution).