There is one common thread that exists within all businesses: the responsibility to realize an organization’s potential rests with the people it employs. The greater the contribution of the employees in every job & at every level, the greater the chance the organization will have a competitive edge. In this sense, employees are a company’s most lucrative investment in terms of ROI.
Here are 6 tips to ensuring your organization has the HR competitive edge:
Be flexible in your Recruiting approach. Be sure that you’ve uncovered your candidates’ motivational and monetary needs. Conduct professional reference and background checks.
Establish and consistently utilize a documented plan for onboarding new employees, and ensure that a mechanism is in place for continuous feedback through the Introductory Period.
Train all Supervisors and Managers in the art of leadership, and continue to reinforce the necessity for them to take ownership for Human Capital development.
Ensure that your Compensation System is designed with knowledge of market pricing and with a full understanding of internal parity. Simplicity in explanation is also a virtue.
Having an environment in which every employee feels comfortable prompting a discussion — be it positive or negative — regarding status of the business, performance and/or employee behaviors is crucial if your organization values continuous improvement.
Communication within the organization must flow as freely from the “bottom-upward” as it does from the “top-downward”. Reaffirm, don’t rebuff — employees who believe that their thoughtful & constructive input is welcome are typically more engaged in their work. Further ensure success by assigning responsibility for the management communication channels.
Creating an environment designed to attract and retain quality employees requires focus and commitment. It is not necessarily easy; however, it pays huge dividends.