15 August 2023
How HR can lead in building business resilience
In these volatile times – post-pandemic, post-Brexit and during a cost-of-living crisis not seen in a generation – the role of HR has never been more important. Additionally, the ‘Great Resignation’ and lengthy job vacancy lists make for significant challenges for HR professionals.
There are two broad areas where HR can help drive change, improve efficiencies, and build business resilience. Firstly, ensure HR is seen as a strategically important business function contributing at strategic levels. Secondly, implement time and cost-saving measures by adopting new technologies and automating processes.
HR leaders need to explore systems and processes that support these objectives. A good software solution will help facilitate the required change.
HR must attract and retain talent in the current, highly competitive market. Simplifying and automating complex processes and improving metrics around engagement, attendance and absenteeism delivers a competitive advantage. Additionally, streamlined onboarding processes save resources and improve engagement, reducing admin tasks and freeing up resources to add value in other areas. Also, establishing metrics for valuing human capital, measuring (and driving) managerial capability and accountability provides invaluable insights.
Implementing new systems and processes cements HR’s strategic position as a trusted source to inform decision-making. Detailed, authoritative analytics, insights and alerts help identify trends that can quickly be addressed. Employee skills can be tracked and updated – helping develop career paths while addressing changing business needs.
The cost-of-living crisis has affected employee wellbeing. Aside from duty of care responsibilities, businesses must recognise that employees worried about finances will likely be less engaged, less productive. Empowering and motivating employees through their complete employment journey is vital to wellbeing, retention, and overall business stability.
MHR’s One Portfolio is designed to support HR leaders as they navigate these challenges. It includes software products, iTrent and People First, which provide customisable, automated solutions for HR, payroll and finance. They feature employee-centred design and self-service models. A wealth of analytics data can be extracted, providing valuable insights, and identifying trends.
By implementing an enhanced HR system, leaders can help to build business resilience and provide more solid foundations during these testing, unpredictable times.