Choose the Right HR Company for Your Small Business
As an entrepreneur, you founded your business because you are passionate about the product or service you...Read More
An HR Strategy is critical to ensure the success of your business plan. It ensures that you have your most important asset – your people – in place to achieve the goals you desire.
Without a robust, up to date HR strategy, you are unlikely to hit your targets and / or be able to sustain them long-term, or experience further growth.
Now is the time for you to review your HR Strategy:
Culture and Values – start with the HR Strategy. Having a defined culture communicated throughout the organisation, and indeed to customers/suppliers/business partners, must be embedded in the HR Strategy.
Succession Planning – with UK unemployment at its lowest since 1975, there are options for talented employees and you need to be prepared for the inevitable staff turnover that will occur. You need to ensure that you have an HR strategy which minimises the disruption to your business plan should there be a change in employees and future-proof your team. You cannot afford for the business to fall over because one person leaves.
Recruitment Planning – do you know whether your current offer is in line with the market and your competitors? Do your job descriptions and person specifications attract the talent that you seek? If someone leaves, do you automatically recruit to that role or do you know where roles need to evolve, be merged or how to best develop job roles to match your strategic plan? Recruitment is best when planned proactively, not reactively. Your HR Strategy can ensure that talent is attracted, and retained.
Investment in Training and Development – spend on training needs to be relevant and targeted to maximise the return. Your HR strategy should support creating a training programme to dovetail into the business plan, and strategic direction the organisation wants to take, based on a training needs analysis.
Business Plan and Strategy – if you review and update your business strategy on an annual basis, then your HR strategy also needs to be reviewed to ensure that they compliment each other.
Employment Law – having a strategy that takes account of changes in employment law and good practice is crucial, and will protect your organisation from risk.
Structure and Responsibilities – as an organisation grows the hierarchy tends to grow organically and tasks can sometimes sit with the wrong person just because they have always done it, or the previous post holder did it. Reviewing your HR strategy can ensure that the right tasks are being undertaken by the right people, with the right skills, at the right time. For example, performance management, disciplinaries and appraisals are key processes to have in place but require training and support policies to ensure they are undertaken correctly and productively.
Having an HR Strategy that fulfils these functions will result in high staff retention and talent development – another great reason to review your HR Strategy now.
We can help support you on reviewing, or even writing an HR Strategy, and with a free one-hour consultation now is the best time to start that review. If you would like to know more about how MAD-HR can support you, we would love to have a chat. You can either arrange a free arrange a free one-hour consultation or call us for a chat about how we can support you on 01473 360160.