Momentum - Business to Business Online Magazine MOMENTUM March 2018 | Page 17

Are Your HR Practices In Desperate Need Of An Overhaul? By: Nicole Bellow, DBA, MBA, SPHR, SHRM-SCP Smarter HR Solutions [email protected] Like us, you probably started your own business because you’re passionate about bringing your product or service into the world and providing a much-needed solution for your customers and clients. People management though, may not necessarily be what you signed up for. Call it a necessary evil if you like, but the fact remains that if you want to grow a thriving business, an adequate HR system is needed. Set practices, procedures, and policies are must haves to ensure that you’re hitting the mark and developing the right kind of team to guarantee your future success. If you take your finger off the pulse or let the grass grow under your feet, you could find yourself with problems that have been deeply embedded into your company’s culture, and these can be extremely difficult and expensive to fix. Wondering whether this might apply to you? Recognizing that you might not be firing on all cylinders is the first step towards fixing any issues and turning things round. Here, we ask some searching questions about where you currently are, so you can start to establish where you might need to make changes. Are you suffering from high turnover rates? Recruiting good staff can be expensive. Providing the skills and developmental support needed to excel in their roles can prove to be costly as well. In an ideal world, this is an investment rather than a cost, but if your staff are deciding to leave often, this can be a huge problem. You’re likely to notice the impact of rapid turnover on the bottom line, and the damage that it may have on your brand. If too many people are leaving, the word will get around, and people will start to ask why. This could lead to you struggling to attract top talent in the future. Are you unsure about whether you’re really meeting your legal obligations? All business owners know that they need to be compliant with relevant employment legislation. When push comes to shove though, are you confident that you’re meeting your obligations? If you’re not, the concern that something could go wrong is likely to constantly be at the back of your mind. If you found yourself in a situation in which you weren’t fulfilling your requirements, it could prove to be devastating. Often, all it takes to ensure that you in good standing, is some advice from a professional. The peace of mind that this can bring can be well worth it. Are you struggling to meet your principal business goals? HR is no longer about handing out cups of tea and sympathy. Robust HR practices will always be in line with wider company objectives, and they’ll actively help your business to get to where you want it to be. Take a second to think about what HR looks like in your business, and whether it’s really fulfilling its potential. Do your practices improve productivity? Do they encourage your staff to be the best that they can be, and reward them accordingly? Do they play a significant role in facilitating business growth? If not, you may be missing out. Though the points we’ve discussed here are really just the tip of the iceberg, they’ll hopefully give you plenty to think about. If you’re falling behind, the main thing to remember is that action is the only thing that will help you to remedy any issues or problems that you may face. MOMENTUM / March 2018 16