Business growth relies on the workforce, but retaining the best employees is a daunting challenge. You have to go the extra mile with employee satisfaction to retain them for the long haul. Everything boils down to the expertise of your HR managers because they play a significant role in keeping the employees motivated, engaged, and productive. But you cannot rely only on excellent pay packages to drive retention and loyalty. You need to think outside the box and embrace new-age HR practices to win the HR game. Here are the best ones great HR leaders across Canada rely on.
Know the HR basics
New-age leaders recommend knowing the basics before going ahead with innovative practices. Start with employment laws and regulations because compliance is crucial at all stages, right from recruiting to retirement. After all, HR managers are responsible for ensuring adherence to the law and fair treatment for all employees. Essentially, you must understand main areas such as wages and hours, benefits, medical leave, anti-discrimination, and occupational safety. Moreover, stay abreast of the latest employment law updates to be on the right side of compliance..
Understand the business
Besides being ahead of the basics, HR managers should have an in-depth understanding of the organization’s bottom line. People are the most valuable asset for any business, so recruiting, developing, and retaining practices should be on track. The best way to maintain the connection is by ensuring that HR strategies align with the short and long-term objectives. You must also know the KPIs like profit, margin, and ROI. A holistic view of people and business is good enough to develop innovative solutions to problems.
New-age HR leaders prioritize technology to stay relevant and agile. Keeping pace with the latest technological trends can help your company save time and effort on people management. Moreover, you can easily find affordable HR software in Canada, even for small businesses. Embracing this best practice enables your team to automate repetitive tasks, so they have more time to focus on strategic initiatives and decisions. Consider a solution covering aspects like onboarding, internal communications, information sharing, and more.
Address employee feedback
Forward-thinking HR leaders realize the value of employee feedback and leave nothing to chance. You can gain valuable insights from what employees say about your organization. Feedback clarifies expectations and increases employee confidence in the company. It can help you attract and keep the best and brightest. Moreover, people are happy to spread the word when they feel trusted and valued by the employer.
Another valuable tip from new-age HR pros is to embrace data and analytics for informed decision-making. Data is a precious asset as it offers rich insights you can use for increasing productivity and streamlining work processes. You can track parameters such as quality of hire, absenteeism rates, professional development, and productivity trends from the available numbers. These factors help you find the best fits and keep them motivated.
Modern HR practices have come a long way from traditional ones. Embracing them can strengthen your processes and foster a positive culture for your company. Follow these tips from seasoned leaders to stay ahead of all fronts.