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COO of Orpheus Cyber, Judge of Cyber Security Awards and American Cyber Awards, industry speaker.
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Since I started working in HR, the business community’s view of HR has changed for the better. A larger role as a business partner means that the department is less seen as a “department of no” (that accolade now seems to be held by security). While it’s exciting for me to see this change, I feel companies can still get more value when it comes to business growth from HR teams that are underutilized in many places. .
Growth periods, especially after funding rounds, often result in significant increases in employment. HR is often responsible for these hiring processes, but time and time again I’ve seen other aspects of HR get sidelined. Headcount growth can be very difficult when a company needs to replace employees at the same time it adds new employees. This also makes hiring, onboarding, training and team building difficult. In such cases, HR professionals may be tasked with multi-faceted goals of retention as much as hiring. Here are three ways HR can go beyond basic functions and enable business growth.
Retention for business growth
There are several reasons why retention enables growth. The costs of replacing employees are huge, especially when considering onboarding and lost knowledge. Companies that can retain their employees will find onboarding and upskilling faster. It is also important to take this into account during periods of significant growth. This is because hiring replacements puts additional pressure on the hiring team.
However, new hires and growth periods can make some existing employees feel intimidated. When the company doubles in size he becomes a different company. People who enjoyed working there when the business was small may not enjoy it as much as it grows. may feel that the value of These things can often be avoided with strong communication. HR can create great value by working with management on this.
Retention affects many areas of HR. Compensation is an important area. Ensuring that existing employees continue to be compensated in line with market conditions is just as important as hiring new ones. Strong communication and business engagement are also important. Make sure your employees understand their role in the company and how they can continue to grow. And leadership is perhaps most important. It is often said that people leave the manager, not the company, and this is a key area where HR enables business growth.
Leadership skills for business growth
If HR can create and develop a strong leadership team, it can make a big contribution to business success. Supporting and developing your existing leadership team is critical to retention and hiring, as well as achieving business goals. Existing leadership teams are often overlooked for personal development, even though they are critical to the business and every individual needs ongoing personal development.
Leadership development is important even for those who have not yet become people leaders in growing businesses. First, it allows companies to recruit talent based on potential and develop talent in parallel with their business. This can be an important way HR can help grow your business by growing your workforce. And this contributes to retention by showing people that they have a career path in the company and, importantly, that the business supports them in that development.
Hiring for business growth
When many growing companies think of HR, hiring is what comes to mind. But not all jobs are created equal. Cost and speed are key elements of a strong hiring process and are tangible, so they are often targeted by hiring teams.
The logic may seem obvious: better hiring processes lead to better hires, and better people lead to better business outcomes. Yet, if you don’t get the most out of your HR team, it’s often overlooked. It’s important to make strong processes part of your hiring strategy and get leadership buy-in in delivering these processes. This includes many things from interview training to candidate preparation and even goodies. But the most important thing is feedback. You can set your company apart by ensuring that candidates are provided with in-depth feedback at every stage of the process. If HR can make every member of the business understand the importance of this, the company will pay off for brand and business growth.
final thoughts
Each of these areas can be developed further, but requires a skilled HR representative who understands business goals. By focusing beyond basic functions, HR professionals can add significant value to the wider business and become an integral part of how the business achieves its goals.
The Forbes Human Resources Council is an invitation-only organization for HR executives in all industries. am i eligible?
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