Human resource management though not a new concept in the realm of corporate functioning, but it certainly is a vital factor for sustainable corporate objectives. The need to be aware of its growing significance as a business owner, HR manager or supervisor is all the more important for targeted professional pursuits because it can proactively boost your business.
As a natural reaction, we all want our businesses to strive and flourish with desirable revenues, but unfortunately many people apparently tend to focus on this bright side only and end up with either temporary success, disastrous results or disappointments. Ever thought of how and who actually helps facilitate you in making your dreams come true? Off course foremost, it’s you because you will be the one envisioning the mission, drafting the business concept paper, investing and setting up the infrastructural structure to meet the needs, but after that, it’s basically your business workforce (employees) which will be the active factor giving shape to your pursued business model in reality.
Your Business is nothing on its Own Remember That! Managing a business can never be done single-handedly, unless a minor manageable project off course. You require workforce for the multiple varying work requirements to get your business running and progressing. This is where you get to saddle into the most significant position of being the team leader to direct and supervise the network of manpower under your authority to attain desired results. The collective and collaborated effort is what will swing in success.
Balanced Set of Business Rules – As per the requisites deemed necessary for successful a business trade, a proactive investment of time in finalizing your rules of business is highly crucial before kick starting any business because eventually it all funnels down to a well-planned out and efficient human resource management system of strategies and doctrines that can and will help mold your business into an ideal sustainable platform. Your rules of business will determine and affect the level of employee job satisfaction, job commitment and organizational upshots.
So, draft up a balanced set of rules that strive not only to ensure effective policy implementation, results and productivity but also cover employee job satisfaction through protected rights and benefits too.
Expectation & Return of the Same – The basic struggle starts with attracting employees to come join your business journey and so, if you are expecting to them to work with dedication and boost organizational efficiency, in return and as a rule and demand of contemporary human resource management policy, make sure you have incorporated and extended just an equally satisfying salary package along with employee incentives to win them over. Business functioning is in fact a two-way operative that gives most desirable results when both the employer and the employee benefit from the same. From the perspective of human resource management, when retention measures, competitive packages and incentives are extended and surety against grievances is guaranteed etc, the end result functions as a magnet to retain the desirability of people to join and contribute to the business.
Employee Diversity – This is one of the best human resource management strategies that guarantees improved and increased business profitability. Judiciously recruit people from diverse exposures, fields of experience, localities, because for the success of any business project a healthy knowledge sharing platform pays off highly fruitfully. It gives possible rise to a desirable pool of actions, strategies in the light of the diverse experience and exposure that people have. This comes in real handy for risk implications in business. So, let your hired team be a combination of talent so that not only you pitch in the best for your organization but also pave a way for employee development through knowledge gain.
Hiring decisions matter – Being in them managerial and hiring position, you shoulder a great responsibility. Your decision actually molds and determines the way your business will look and progress. At the time of hiring, select people that have the tinge to make a difference and amp up your productions.
It may not necessarily be the experience that they have but the envisioned initiatives that they bear in mind which may be innovatively appealing. Also, keep in mind to discourage the trend of saying ‘NO’ to no experience. You never know who may just surprise you. However, for selecting the right people, the panel must also be right in analyzing the right qualities of people coming to seek employment.
Lend an ear – At times lending an ear to an employee pays off so well in terms winning over the loyalty of your staff and encouraging them to participate more efficiently. Whether it is a grievance or a suggestion, you never know it may just provide you with either an insight into lapse in your business which if curbed can help address what is undermining workforce efficiency or may spark a new idea that can effectively boost the functioning.
Effective Employee Voice Mechanism – Justice delayed is justice denied. A common hurdle witnessed in organizational setups is that people in the lower hierarchical structure cannot actually reach out to the higher authorities to have their grievance heard either due to delay or deliberate discouragement from the initiating officers who may not pursue the case forward. As per the manifesto of human resource management, this area of business is highly crucial for organizational sustainability and yet one of the highly vulnerable areas where employees are at risk of either being won over or thrown off board to employees depending upon the success of this communicating factor. Ensure a direct mechanism of communication which allows you to directly deal with the troubled in your business. It’s your business and your display of responsibility can increase the task significance of your employees to remain loyal.
Employee Disrespect – Regardless of designation, work type etc remember this golden rule that you do not have the right to be disrespectful towards anyone. If you are paying them, you are availing their services in return so the deal stands in equilibrium. Disregarding someone at work compromises their self-respect which is at all not acceptable. It can give rise to multiple business impediments such as employee work deviance, rebellion or even loss of staff who would rather resign and work elsewhere where their self-respect stays intact. Either way it is you who incurs the major loss as a business owner.
Task significance – Talking in terms of some of the most effective human resource management strategies targeting loyal and sustainable workforce, a great measure is to ensure that you provide a conducive working environment that encourages the sense of belongingness of an employee through which he realizes his importance as a member of the team. This sense of belongingness to the environment will arouse his/her intrinsic urge to work and contribute. Anything meaningless will never have the drive to deliver.
So, planning to start up a business today? Though the above stated basic human resource management tips may seem something you already know, but as far as knowing the impact of these apparently simple rules can be way beyond expectation. So, thinking of starting up a business today, be sure to incorporate these elementary tactics bound to help you mint money.