With Valentine's Day and Employee Appreciation Day around the corner on March 2nd, it's a good reminder to check in on your employee engagement. Not only is an engaged culture more fun to work in, creating a culture that embodies happiness and satisfaction just makes cents! (Pun-intended.) Effective human capital practices can and will, lead to positive financial outcomes.
As you guide your leaders and employees through the process of setting their goals for the coming year, it’s important to set a great example. Demonstrate a strong performance mindset by leading with your own plans for the coming year. Ensure all are bound in your company’s overall goals and target the HR pain points that you’ve identified throughout the prior year.
“Strategic HR”. It’s a buzzword in the HR industry that has been around for some time and I anticipate it will be around for a while longer. This concept of strategic HR is floated frequently and it’s quite possible that like many other business owners, you find yourself asking “what is strategic HR and how do I know if my business is ready for it?”
One of the main factors that contributes to the United States being a world super power is in large part due to its economy. While in recent years the US economy has suffered major setbacks and the deterioration of many industries due to offshoring and certain product lines becoming obsolete, the broader economic landscape has been a world leader for well over a century. Economic gains for corporations, and individuals alike, are strongly linked to the financial and overall business performance. In order to realize consistent financial gains and strong business results, employee performance must align to corporate and strategic goals and initiatives. One of the most effective ways to ensure company performance is sustained and primed for growth, is to design and implement a variable pay program that links employee performance to bottom line success.
Globally, the workforce is getting older while also getting younger, creating the perfect conditions for leadership challenges. And that means, no matter where an employee works around the globe today, they probably work for an organization struggling to retain its talent. According to Deloitte’s Human Capital Trends 2016 report, 28% of companies reported weak or very weak leadership pipelines, only 7% believe they are “excellent” at building Millennial leaders and only 13% report they are “excellent” at building global leaders. From the workforce perspective, 63% of Millennials say their leadership skills are not being developed, and in the next year, 66% of employees from this same generation expect to leave their jobs.
Spring has approached, which always seems like the time of year I like to get organized and get rid of unnecessary clutter. It is also the perfect time for HR to do some of their own spring cleaning for better order in the workplace. Typically it gets quite hectic at my client sites towards the end of the year and the beginning of the new year where we may be managing open enrollments, setting budgets for HR, hiring new employees, finalizing payroll, and conducting performance reviews. Come spring, I take advantage of opportunities to ensure HR is up to date with the latest compliance obligations as well as help purge files to create less clutter. Here are 10 tasks I tackle in the spring to get the HR Department better organized and off to a fresh start.