5 HR CHALLENGES IMPACTING BUSINESS PERFORMANCE

Business and human resources challenges are no longer isolated. Managing a hybrid workforce, attracting, developing and retaining talent, and focusing on employee well-being are all tied to real business outcomes. What is the role played by HR technology solutions in addressing these?

The workforce landscape is shifting rapidly with hybrid work models necessitating business transformation. As per the Gartner HR Priorities Survey, 95% of HR leaders expect that at least some of their employees will work remotely after the pandemic. In this context, the challenge remains to improve employee experiences and boost productivity while driving down costs for the organization.

For small business owners without access to a dedicated human resources department, the focus on revenue growth and market expansion can distract from HR transformation efforts, impacting the business as the company and workforce continue to grow.

1. REGULATORY COMPLIANCE

With changing employment laws, local regulations and increasing HR complexities, aligning workplace policies is critical to any company’s future. From hiring practices to the way employees are treated, non-compliance can lead to lawsuits and penalties, apart from affecting morale and motivation of the workforce. Startup founders wear many hats and may not always find the time to understand the requirements for HR compliance.

2. LEADERSHIP DEVELOPMENT

With changing employment laws, local regulations and increasing HR complexities, aligning workplace policies is critical to any company’s future. From hiring practices to the way employees are treated, non-compliance can lead to lawsuits and penalties, apart from affecting morale and motivation of the workforce. Startup founders wear many hats and may not always find the time to understand the requirements for HR compliance.

3. WORKFORCE TRAINING

Training and development programs can directly impact productivity and business metrics. Unavailability of training personnel and the reluctance to spend time are two factors that drive lower adoption. Although online training resources are now widespread, small businesses are often reluctant to invest in comprehensive learning management systems (LMS) as they look for immediate returns

4. TALENT ACQUISITION

Finding candidates who are the right fit can involve significant time and effort in screening profiles and interviewing prospective employees. While advanced technology solutions have automated some of these processes, it is vital to arrive at the right balance between efficiency and maintaining the human connection. Connecting with prospects through video is one such approach.

5. TALENT RETENTION

Keeping employees engaged and making them feel valued in a virtual workplace environment can be challenging. Business owners need to develop a holistic employee engagement program that takes into account among other things employee-friendly policies, mental health and well-being, collaborative solutions, interactive sessions, and events on a social wall.

According to the State of the Workplace Study by SHRM, HR professionals predict limited resources and resistance to change as the greatest barriers to achieving 2022 priorities. Leveraging technological innovation to drive process efficiency while building a more human employer-worker relationship through personalized experiences remains the key to an engaged workforce. This has measurable impact on business profitability and can be a force multiplier in helping HR leaders and business owners traverse the challenges that lie ahead