Organizations realize the importance of employees and they are taking steps to enhance their experience and improve the overall organizational efficiency.
FREMONT, CA: Human resource is an indispensable part of a modern-day organization, regardless of their size. One of their primary responsibilities is known as human capital management (HCM) which is the effective acquisition, employment, and development of a company’s employees through strategic and tactical practices. According to Gartner, HCM is a set of practices concerning people resource management, particularly in the segments of workforce acquisition, management, and optimization. Every organization can implement HCM, but it is the most beneficial for companies with ‘knowledge workers’ or in other words, where people are the most critical asset of the business. Employee-related costs, including compensation and benefits, encompass a significant part of the budget in most companies. This indicates that HR has become a more strategic department in fulfilling the organization’s overall goals. Thus, here are a few ways to improve HCM.
1. Managing Each Employee
A personalized approach to the day-to-day management of employees is fundamental. HR leaders and experts witnessed the significance of taking the staff’s personalities and preferences into account while managing and communicating with them. The organization needs to learn the emotional capacity of the employees to cater to their needs. For instance, a sensitive employee needs a more personal relationship as compared to a practical and thought-based worker.
2. Keeping Employees Engaged
Few companies focus on talent management and in the process, they forget about existing employees. However, smart HR professionals know the vitality of employee engagement which goes beyond the recruiting and onboarding process. The president and CEO of RiseSmart, Sanjay Sathe, said the entire employee life cycle dictates the employee satisfaction and engagement. The organization's recognition, review, and learning processes should engage the employees, and their offboarding process must match their onboarding process. Experts also believe that instead of thinking about top performers, the organization must think of everyone as talent.
3. Investing in the Right Technology
Claire Bissot, HR consulting manager and a certified senior professional of human resources (SPHR) at business services provider CBIZ states, “To make the HCM process efficient and helpful, it is critical to implement the right tech tools. Claire also believes that HR professionals must utilize technology to automate processes so that they can streamline repetitive tasks and get to know the employees better. By understanding employees, HR professionals can understand the insights they have gained to improve the organization.
4. Transparent Communication
Organizations must deal with changes and transitions affecting their employees. To do so, effective communication with the entire organization is essential – not only during transitional periods but at all times. HR leaders believe that transparent communication on a day-to-day basis is critical to show people the current situation in the organization and its relevance. Negative and threatening situations such as layoffs and budget cuts must be framed positively and constructively. During transitional times, it is the job of the HR leaders to provide hope for the future instead of developing situations that create resentment.
Over time, employees and their needs have evolved. HR leaders and senior management must work in synergy to understand existing employees and recruit new talent.