HR Trends That Are Becoming Best Practices and Adding to the Bottom Line

Business team drawing a new project

HR Departments in today’s business world are no longer seen as only an administrative function which focuses mainly on mitigating compliance and employee relations.  They are becoming strategic partners working closely with the management team to align with the company’s business goals.

HR Departments no longer function solely behind the scenes.  Their in-depth knowledge of the workforce has made them important members of the management team.  Their unique insight plays a huge role in strategic business planning that affect the bottom line.  HR leaders have become key business partners because they have the insight into individual employees and the workforce as a whole.  No one else has this unique insight and the ability to keep a current pulse on these areas.  Because HR leaders interact with employees daily they understand employees’ strengths and shortcomings.  Having this knowledge allows HR leaders to give valuable recommendations on programs addressing skills shortages, succession planning, employee performance and satisfaction ratings.

In order to help business managers strategize, HR leaders need to be able to effectively and efficiently assess employees.  This requires them to be proficient in workforce analytics.  HR leaders are utilizing tools such as employee engagement and satisfaction surveys, 360-degree review software and social media to make it easy to track, analyze and share people data.  Collecting and understanding these analytics are important to solving complex “people issues” that could be obstructing the company from  achieving a specific business goal.

Another trend that is becoming best practice is the use of HR software.  HR technology provides automation that has allowed human resources  to work more efficiently in the areas of recruiting, benefit administration, leave administrative, on-boarding and off-boarding employees.  Many payroll providers have added these systems to their platforms making them more affordable and easier to integrate with existing systems.   HR is realizing the benefits of technology and it has now moved from a “nice to have” to a “must have”.  HR technology has allowed HR Leaders more time to spend on business strategy, finding and securing top talent and working with employees more than ever before.

Who is your HR strategic business partner?  Whether you have an HR department or not, can you afford not to have a strategic HR partner advising and gathering information regarding potentially the greatest expense to your bottom line?  Outsourcing strategic HR could be a solution for your company if you lack the internal resources to provide this expertise.  Whether you manage this function internally or outsource it, don’t be left out of today’s competitive market by not keeping a pulse on your people and their contribution to your bottom line.

scholleyScholley Bubenik is president of Premier HR Solutions in Austin Texas.  She has over twenty years of human resource management experience and a master’s degree in Human Resource Leadership from the University of Texas.

Premier HR Solutions provides business owners effective solutions for the people side of their business.  Scholley invites you to contact her for questions or comments at sbubenik@premierhrsolutions.net or visit www.premierhrsolutions.net