YOUR EMPLOYEES ARE YOUR BIGGEST ASSET
THERE'S MORE TO IT THAN MEETING PAYROLL
Organizations need analytical data for all aspects of their business and strategic HR initiatives underway guaranteeing the best possible return for their investment.
Mature professionals realize the lack of robust HR is a telltale sign of inexperienced or lackadaisical management. It goes a long way to have a business thatâs professionally branded in a multitude of ways, one thatâs legally compliant with the countless worksite laws, and one that utilizes effective management tools and programs.
Per Wikipedia, The professional discipline and business function that oversees an organization's human resources is called human resource management (HRM, or simply HR).â Human Resources refer to the body of individuals that make up a workforce; terminology varies as some refer to their workforce as Human Capital.
The fact of the matter is employees are an asset! The word asset is positive and refers to something or someone that's of use, valuable and contributes to success. Employees are a valuable asset to be cultivated and protected.
Bersin, by Deloitte, delivers research-based people strategies designed to help leaders and their organizations in their efforts to deliver exceptional business performance. They're one of the most highly noted and sought after analysts to Fortune 100 companies. Bersin's research shows mature companies spent 34 percent more on training and other talent initiatives, than companies at the lowest maturity level. Companies are investing more in their human capital, which is nothing but good news for today's workforce. All businesses from 2 employees to 20,000 should invest in their human capital.
WHERE'S THE VALUE IN HR?
Talent management strategy takes HR to a higher level of analyzing human capital and utilizing the appropriate strategic initiatives to propel growth and maintain positive cash flow. Business owners must know their workforce costs, employment laws, and have hired or outsourced HR professionals to put things in place for their business; such as, detailed employee handbooks, employee training coursework and other productive forms, procedures, and loss prevention tools to manage their workforce. It's a necessity to have a certified pro in HR to guide you through the hiring, disciplinary, and termination process. If you don't have hundreds of employees it really doesn't make economic sense to have a high-dollar pro like this on your payroll, so outsourcing is definitely the way to go.
There's more to it than just meeting payroll. Every workplace must provide a safe environment. Our local white collar offices employing a few have the short list, but they must still be mindful of safety. If friction between workers mount or other employee related issues present a danger they could be held liable for negligence should harm come to an employee. Simple things around the office need to be addressed, such as; keeping pathways free of debris that could cause trips and falls, directions on how to use the fire extinguisher, and back-friendly way to lift the box of copy paper.
Blue and grey collar companies negligent in providing appropriate and frequent safety training and personal protective equipment are more typically your smaller mom and pop shops, as larger entities have more of a bulls-eye on them and more likely to be investigated by OSHA. Plus, they know better!
Every business must look closely at their safety measurements to control loss. While most business owners greatly care about the safety of their employees and are concerned about any loss they aren't professionally educated in loss management, such as: employee litigation, tricky workers compensation claims, drug abuse, unemployment claims, and the list goes on. Loss control and human resource management initiatives must be budgeted for in every organization. Professionally build it from within or outsource it.
Many of those mom and pop shops are disappearing; they're being gobbled up by industry moguls offering the full spectrum of services capitalizing on contracted opportunities. The ones left need to pony up and do their homework, as they're running at a disadvantage - lacking appropriate human capital management, employee cost projections, and asset protection. They donât know how to effectively manage certain HR administrative duties and lack basic business acumen (training, regulatory compliance, professional handbooks and manuals) to effectively grow their business and keep costs predictable. You won't understand what you don't know until you invest time in your own development do you personally have the time for this or should you outsource it to professionals?
Strategic Business Solutions
It's all about continued business growth... Get a solid handle on where your offering is weak or where the weak links are within your company.
Your time needs to be dedicated to honing your marketing skills and looking for new avenues to find income. In today's market, it's imperative that you spend the major part of your daily activity driving core functions.
Thank you for reading my blog. Your comments are appreciated.