As the new year rolls into the middle of the first month it is time for the leaders in the HR department to take stock of their processes and come up with new ideas to revamp them.
Considering the past decade, HR leaders have been facing almost the same challenges that have plagued the entire market – talent and employee retention and employee engagement to name a few. Over the years the HR managers have made enough strategies to ensure retention rates increase and but there has been a miss somewhere.
And while there have been lots of talks within HR leaders to create better retention strategies, it seems that the sand always slipped away from their hands. So let’s understand where all HR leaders need to focus to ensure that 2020 spells a resounding success not only for the HR processes but for the organizational success as well.
As already mentioned the HR leaders’ world over have worried about employee retention and employee engagement, it is imperative to understand that both retention and engagement are interrelated. If the employees are positively engaged, they would not leave the organization thus reducing the turnover rates. So the key here is employee engagement.
But then how do you ensure that your employees are always engaged and are not thinking about deserting the organization. Here are a few HR processes that you can work on to ensure that your employees are always engaged and performing better.
Here are some things you can do as an HR leader that would ensure a right and bright start to the new year.
- Refined Performance Management tactics: Performance reviews are important in numerous ways to ensure organizational success. Interestingly, about 45% of HR leaders feel that performance review is not the ultimate measure of an employee’s value. A critical performance review would ensure there is a dialogue between an employee and an employer. This could result in enhanced employee engagement as feedback and recognition motivate an employee to perform better to yield good results.
- Focus on employee engagement: Your next step target should be to toff up employee engagement. One of the best ways you can focus on employee engagement is by employee recognition. It is a low-cost but effective way to increase engagement. Constant feedback and recognition of their work keep employees positively engaged.
- Allot quarterly goals to the teams: Quarterly goals offer a sense of determination to the employees and team-wise goals ensure that all employees are involved in achieving those goals.
- Create and set new regulations: With each new year, there are certain changes in laws related to labor unions, minimum wages, and overtime pay. You need to be steps ahead as an HR leader to ensure that your organization is in compliance with these laws while hiring.
- Self-Examination also plays an important role: As an HR leader you should reflect on your department’s strengths and weaknesses, where did you miss the train and where you hit the bullseye. What can you do better in the new year? All these points are important to ensure that mistakes are not repeated and success is not far away.
- Ponder over turnover rates as well: Do give some thought to turnover rates. Ask questions like who all left the organization in the past year, why did they leave and did they leave for competitors. What could have you done better to retain those employees?
These are some of the points that would help you in the coming year and yes, you need to keep your learning curve also upward so do align your calendar with all the major events and conferences in the field. Unexpected events are commonplace so plan and keep a significant amount for the 2020 budget.
With this little bit of revamping be assured that you would soon be riding the wave of success in the market.