The year 2016 had its own set of emerging challenges. Human resources professionals had to deal with a wide range of responsibilities right from recruiting to retention. The year 2017 will be no different!
As a human resource practitioner, a role that requires you to constantly interact with your people as well as take charge of their training and development initiatives, here are some of the top HR related challenges that you may have to face:
- Employee retention and curbing attrition
With growing economy, retention issues will rise with rising opportunities in the job market and there are possibilities of employees seeking new jobs. The employee turnover and attrition level will burden the recruitment department. Though it is not always possible to retain good employees, HR can try focusing on incorporating retention programs, better worker security measures, and creating an atmosphere of love and respect in the workplace.
- Training and development programs
It is a known fact that good employees leave their jobs due to lack of training and development programs. Though we understand that the expenses of training is increasing over the years and will further increase, so will the number of employees, it is essential to make these organized and conduct in a timely, effective and resourceful manner.
- Safeguarding compensation and incentive and perks for employees
Apart from monetary incentives, health insurance, paid vacation time, casual dress codes and birthday celebrations, flexible working hours is important. There will be immense pressure on the HR team to ensure compensation, to avoid company’s workers to be tempted by better opportunities elsewhere. Improving employee retention by promoting top performers, giving raises, bonuses in the most effective way has become mandatory.
- Compliance issues
There is a possibility of changes in labor laws, rules in this year. HR has to be in sync with these changes as they are usually busy in other functions such as training and development of the employees. All legislative changes should be understood and must be implemented accordingly.
- Understanding emotional intelligence
To be well respected, you have to be human first and then a leader. The HR staff has to think about their employees at all levels. You need to help your employees to fight against their work related anxieties and uncertainty about retirement, education assistance to the employees. We have to reinvent the ways we think of employees by encouraging and developing the new generation of innovative leaders.
- Investing in leadership programs
Some are born leaders and some by made leaders by continuous developing and fostering talents. You should invest in good leadership workshops and programs within your organization. This helps in exposing your employees to emerge as successful leaders. Even though such programs might seem expensive in the short term, your employees will know the worth and both the business and the individual will benefit in the long run.
- Dealing with terminations or layoffs of employees
Dealing with terminations can be a herculean task. There are a lot of legal matters to be considered and can be stressful especially for HR workers. You should conduct effective exit interviews with a sincere feedback, so that the terminated employee can understand and identify the mistakes and improve in the future
- Rising competition amongst the available talent pool and hiring the right candidate
There is immense competition in the world today especially amongst the available talent pool. You need to be an expert at finding and safeguarding the best hires, even when the job market is not in your favor. Innovative ways in locating talent as well as effectively promote your company to potential employees is necessary to get the right people to join your organization.
- The impact of economy
The impact of the growing economy may have an impact on some organizations to increase their budgets and might feel the strain if they are not prepared to review it. It may influence a lot of HR decisions and strategies and increased globalization might lead to economic uncertainty.
These HR related challenges might make you apprehensive. However if you keep up with the pace of transformation and understand the various trends in the workforce, it may be difficult at first but not impossible to achieve.
Which other major challenge do you anticipate this year?
Share with us in the comments.