160 - 3 Reasons Why HR is Critical to Your Company's Success
HR usually isn’t lumped into this "right-hand" category, and that's a shame because HR leaders are critical to the success of every organization.
They work to hire the best.
It sounds simple, but hiring is a deeply complex process. In fact, 48 percent of CEOs surveyed by CareerBuilder in 2015 said their companies had lost money due to inefficient recruiting. And that process isn’t getting any easier.
Among recruiters surveyed by Jobvite this year, 95 percent expected recruiting to be as or more challenging in 2017. But that’s where HR departments come in. They’re not trying to hire people as fast and cheaply as possible -- they’re looking for the best people for the job, and that saves money in the long run.
They’re focused on employee engagement.
Employee engagement is seen as one of the biggest workplace problems. Gallup’s 2013 State of the American Workplace survey of more than 350,000 respondents nationwide estimated that disengaged employees cost U.S. businesses between $450 billion and $550 billion each year in lost productivity.
But HR is on the case, leading the charge to make sure employees are engaged. Engagement, in fact, can be boiled down to just a few factors, including employee recognition, feedback, learning and development, plus compensation, benefits and work-life balance.
Their insights improve the business.
HR has a unique view of the company and the people behind it, putting them in the perfect position to help make important business decisions. While the HR department isn’t traditionally thought of as a part of the strategy team, 65 percent of CEOs in the CareerBuilder survey said that, post-recession, HR opinions carry greater weight with senior management. What’s more, 73 percent said their HR leader had provided data that they had incorporated into their business strategy.If things are working as they should, a company's HR department has a deep understanding of talent and how employees work, and tracks the data to back up their suggestions. More than half (57 percent) of CEOs in the CareerBuilder survey said HR executives can show ways to increase efficiencies and cut costs by better using the company’s human capital.
Source: Entrepreneur
All the best!
Patty Block
