Start the year on a high note with worthwhile HR initiatives
Here is an overview of the human resources initiatives you can adopt to start the year off on the right foot.
Employee performance: Prioritize consistency
Annual reviews, also called performance appraisals, allow you to turn the page on the past year and prepare for the upcoming one. They are an integral part of performance management, an ongoing process that is carried out over the year.
With the beginning of a new year it is important to determine and plan your performance goals; your expectations, objectives, and priorities. These should be communicated to your employees during the annual assessment interview, and a performance plan can be set to help staff meet these expectations. It is preferable to opt for regular feedback—this will help you drive your team’s development, facilitate the process and foster achieving targeted objectives.
Employee performance should be managed on an ongoing basis, as not doing so can create problems. Oftentimes, supervisors mistakenly conduct annual assessment interviews only when they are requested by management or when specific cases arise.
Finally, you need to set up activities that will support performance recognition, develop an individual’s potential or make the required adjustments to achieve performance.
Provide employees with an enticing total compensation package
There are many ways to compensate employees for their contribution. The first step is to analyze the market competitiveness of your salaries. Next, consider providing training and professional development opportunities to employees so that they are motivated to stay with you in the long run. Many other social benefits are available today, such as access to telemedicine or covering public transportation costs. Finally, consider the physical work environment; make sure it is ergonomic, bright, safe, and stimulating.
Anticipate workforce requirements: Think critically about promotions, transfers and succession
Start out by examining the characteristics of your current workforce, both quantitatively and qualitatively; including employee departures and their consequences, as well as critical or necessary skills. Summarizing this information will help to determine training requirements, at-risk positions, etc.
The second step involves undertaking a cyclical analysis of the labour market. Analyze the economic, demographic, technological and political factors that could influence your organization’s activities over the next three to five years. This will help you identify the opportunities and threats, such as labour scarcity, immigration of workers, or major technological changes.
Finally, compare your organization’s workforce to its external market and develop the appropriate corresponding strategies you want to pursue. These strategies can include succession planning, attracting new talent, retaining high-performing employees, or transferring knowledge. They can be carried out separately or combined, limited only by the creativity of those who are implementing them. Keep in mind that the strategies be consistent with the organization’s mission, vision and values.
Now you’re ready to approach the new year in top shape.
Best wishes and best of luck!