Aligning Talent and Business:
Business strategies rely a lot on the contribution of various departments. HR professionals play an effective role in shaping business strategies and aligning them with the workforce.
According to The State of Talent Optimisation Report (2020),
“Companies that align talent with business strategy, outperform others by 16%, retain 30% more top performers, and see 34% higher employee performance.”
Presently, businesses are evolving faster than ever. Companies are struggling hard to make changes in their business plans to keep pace with the constant shifts in this technologically driven world.
Such changes, however, have a long-lasting impact on the employees. The HR team assists the employees and help them to cope up with the consequent alterations.
How can HR professionals help?
Acquisition of Talent:
For surviving in today’s cut-throat competition, business houses are adopting and implementing the best practices in talent acquisition and management. The HR team should assist the management in identifying and selecting the right candidate through objective, unbiased, and methodical recruitment drives.
Formulation of Goals:
Employees should be encouraged to have realistic goals, aligned to their specific departments and broadly, to the company’s business strategy. With every employee achieving his or her goal, the company would move one step closer towards accomplishing its business plan.
Devise a Proper Strategy:
The members of the HR team should communicate with the employees about the changes in the company’s business strategy. They should be able to align the employees’ performances to business requirements and also award the employees who can achieve their predefined goals successfully.
HR Managers should evaluate the skill gaps of all the employees across the company. Then, effective strategies are to be formulated to conduct comprehensive and wholesome training that can address those deficiencies and create a better workforce.
Employees have to be provided with regular feedback about their performances. They also require proper and sufficient guidance to unlock their truest potentials. Regular workshops and training would help them obtain the required skills and knowledge.
Having a proper talent development plan would enable companies to develop critical skills in their employees. This also helps to keep a check on the training costs as the primary focus lies in developing the essential skills of the workers.
According to Bersin by Deloitte, businesses that maintain cordial relationships with their entire workforce, have positive impacts on the employees’ growth and ‘realize 13 percent stronger business results.’
Learning and Development:
The employees must be explained how their tasks are connected to the realization of the company’s goals. Employees should be encouraged to prepare themselves for their upcoming roles in the future. This implies that the company has framed a future business strategy and wants all its employees to contribute to it.
HR professionals bring talent and business together. It is important to ensure that the resources spent on sourcing, developing, and retaining talent has a purpose and is not directionless. The essence of human resources management skills lies in aligning workers with business strategy for maximizing success.