As you finalize your business objectives and growth plans for the next year, it’s important not to overlook the crucial step of defining your HR strategy. Making it a priority will enable you to act proactively and align your talent management activities with your business goals.
You don’t need a large HR team to develop and implement an effective talent strategy, but you do need a well-crafted plan. Here are five ways to get started:
1. Identify the Best Role for Each Employee
Aligning the right employees with the right positions is essential year-round, but it’s particularly critical as you look forward to the new year. By proactively assessing employee performance, skills, and unique talents, you may find opportunities to expand certain roles, consider lateral moves, or even create new positions that better align with your growth strategy. Research from McKinsey found that organizations taking this kind of systematic approach to talent alignment outperform their competitors 2-to-1.
2. Develop a Hiring Game Plan
When planning for future growth that demands new skills or additional staff, year-end is an ideal time to create a robust recruitment plan. The plan should outline new roles, replacements, and how you’ll attract the necessary talent.
You can start by taking an inventory of any skill gaps you need to fill. Then, collaborate with your recruitment partners and hiring managers to establish clear hiring goals and deadlines. Keep in mind that January and February are typically the busiest recruitment months, so starting the year with a solid plan can help you compete for talent more effectively.
3. Offer New Hires a Comprehensive Onboarding
Great onboarding entails more than filling out new hire paperwork and making office introductions. New hires will be much better positioned to begin their roles successfully and continue on that trajectory when onboarding also includes expectation setting, training, and opportunities to engage with senior leaders.
One study revealed that a positive onboarding experience can make employees 18 times more committed to their work. These committed employees often put forth their best effort and are also more likely to stay.
4. Determine Key Areas for Employee Development
Though they may differ in their development needs, employees at all levels can benefit from training that equips them with the skills necessary for future success. Whether you bring in an outside training facilitator, send employees to seminars and conferences, or introduce online learning, ensuring training is lined up and ready for employees to get started is critical.
Reskilling and upskilling your workforce is particularly beneficial as it brings new expertise to your organization without the need for extensive external hiring. And, if your recruiting budget is tight or you’re struggling with hard-to-fill positions, training can be a highly effective alternative.
Many organizations are taking this route, and in one survey, 70% of hiring managers even said they’d rather reskill their current staff than hire new employees.
5. Evaluate Your Existing HR Infrastructure
In addition to reviewing employee pay and health insurance renewals for the upcoming year, it’s also a great idea to assess the vendors and partners that help you implement these and other talent management programs.
Reviewing service-level agreements and evaluating how well these providers meet your expectations can help you determine if you’re aligned with the right partners or it’s time for a change. This review should include your:
- Health insurance broker and benefit administrators
- Payroll provider
- Professional employer organization (PEO) partner
- Recruitment agencies
- Training providers
A Unified HR and Business Strategy for Sustainable Growth
Putting the right employees in the right roles and providing them with the onboarding, development, and resources they need to succeed helps position your organization for sustainable growth. Taking these actions also goes beyond covering the HR basics—it helps you bridge talent gaps and assemble a team ready to propel your business forward.
For expert assistance in aligning your HR strategy with your business goals, Aspen HR is here to help! Our white-glove PEO services can support your growth and streamline your hiring, onboarding, payroll, and workforce management activities. Speak to a member of our team to learn more.
