11 February 2022
Throughout the Covid-19 pandemic, Employers have had to sink or swim through some of the most challenging social and economic times. The function and importance of having clearly defined HR goals for business has never been more critical.
The tables have turned, and the focus has shifted towards a more Employee driven market with the prevalence of increased expectancy from their Employer to meet their needs. Effectively Employees are holding all the cards. Setting your HR goals will help shape how your business will thrive throughout these challenging periods and in turn increase Employee retention.
Here at Now Actually, we have formulated some of the key focus areas for 2022 that Employers should plan and implement contingency measures for.
Employers with a singular focus on benefits are no longer at the forefront of employment, especially when trying to retain their employees. Companies who have developed a solid Employee Value Proposition with a focus on a myriad of benefits are not only exceeding expectations, but they are also excelling in relation to their profitability.
An Employee Value Proposition is a framework that defines the benefits and rewards an Employer will offer in return for Employee loyalty and commitment. It encompasses compensation and benefits, flexibility/work life balance, career progression, job design, and company values/culture.
The pandemic has cut Employer recruitment budgets and halted the immigration of skilled migrants, resulting in a volatile employment market. Employers will now need to turn their attention to their internal talent pool to gauge their skill sets and career aspirations in line with company objectives. Workforce planning makes for more efficient use of Employee skills by planning ahead, allowing Employers to be better positioned in an unpredictable landscape.
Internal hires and promotions allow Employers to save on recruitment costs and support Employees who show potential to develop their careers. Any future external economic impacts are less likely to cause disruption, therefore workforce planning and internal mobility allows the Employer to cope with any unforeseen or rapid changes.
Remote and hybrid work models have posed a challenge for Employers to maintain happy and engaged Employees in their workforce. What would once be attractive to Employees (such as a coffee machine at work or Friday night drinks) no longer has the same appeal. The lack of social interaction has caused disconnect and isolation in some instances and Employers must become creative in formulating some sort of engagement strategy.
Employees who share a sense of purpose with the company’s goals and how their role influences this are generally more engaged and perform at a higher level. In this virtual landscape, regular 360-degree feedback from Employee’s allows the Employer to gain an insight into what they want from the company. Employee led contributions to decision making enhances their experiences and highlights their value/stake within the company.
Undertaking regular virtual meetings with the team or at a company level, Employee lifecycle surveys and topical Employee Engagement Surveys may remedy many of the engagement issues Employers have recently faced.
Need assistance with any of these HR goals? Contact Now Actually for expert advice and guidance.
