We all are now in a work culture where not only the authoritative, but also the sub-ordinates and other staff in a company are looked after. An HR is believed to make right picks for appropriate posts, cultivate the organizational atmosphere into a healthy one and maintain and direct every living resource of the company.
The significance of HR in the growth of business can be understood if the right people are placed at right positions for the profitability of the company.
Let’s see how an HR can become the key force in major corporate maturation:
Human Resource earlier used to be a service organization but now, it's strategic. It can use data analytics to ask and answer strategic questions about the future of that organization — outsourcing, cost management, succession planning, performance management, etc. With such widespread in its role in the organization, HR is now believed to break its conventional forms to become even dynamic.
While an HR knows where the business is directing, it can serve as an asset while recruiting and training its employees. Having a good anticipation about the future growths, the HR can start investing on its employees beforehand to get a fruitful outcome from them, whenever the time comes which is contrary to the less believed-now approach of most companies wherein they used to hire and train their employees according to the current desires of the situation.
There might be a case where your company would not be looking for an expansion but there is a fair possibility that some other company in your market has some plans to spread. This calls to unleash the task force called HR who now needs to make sure that the other company does not succeed with its plan. Now, your HR team will bring focus toward improved employment branding, succession planning, compensation structures, and leadership and skill enhancement in your employees to retain the best in them.
A study conducted by Ilias P. Vlachos, 2009 concluded these HRM strategies that should be emphasized upon as they are proven to be positively associated with a company’s growth:
- To work extensively on your human capital; as a strategic priority is going to be a good time investment for you as it has been linked with firm growth, a positive correlation implicitly. It can understood as selecting, developing and rewarding the best people as well as sharing crucial information with them to make informed decisions which they are authorized to take.
- Selective hiring was strongly correlated to perceived market share growth
- Decentralization and effective team working was significant factor of firm growth.
- Training and development of every employee as well as the employer was related to all firm growth measures but it showed higher correlation to overall firm performance improvement which is a significant part of enhanced outputs.
While all HR professionals are known to be ‘people’s person’, there might be a lot of things that they might be lacking in their approach and hence become better than they already are. Read on to find what these things are:
- Be an Inspiration: you are perceived as designated leader by most of your organization’s staff and it’s not somehow farther from the truth. You are one who induces energy, motivation, training and other emotional and moral necessities in them so be one for yourself first.
- Be more outside than inside: HR is usually perceived as a principle and people would give second thoughts before coming up to you. If you’ll go outside your office and make your presence in other departments of your office, you’ll be able to acquire more first -hand information about the whereabouts and other affairs.
- Have a vision: set a goal for yourself and why you want it, something preferably not given to you by your organization. This way, you’d work more constructively to achieve your personal desires and give a good outcome to your company simultaneously.