The goal of every HR department is to hire the best candidates. Candidates that are invested in your organization and go above and beyond to get the job done. Candidates that ensure customer satisfaction and, ultimately, increase profitability.
So how do you, the HR professional, build an actionable strategy around that goal? To help get you started, we identified 8 ways HR can have a positive impact on an organization’s bottom line:
- Innovate: If your HR department isn’t taking advantage of technology and using it in innovative ways, it’s falling behind the competition.
- Align your HR strategy with your business strategy: Constantly ask how departmental goals align with those of your business.
- Know your business: How does your company turn a profit?
- Hire and engage the right talent: What’s the revenue impact of your hiring process and how is employee engagement impacting your organization’s profitability?
- Investing in good leaders and profitability go hand-in-hand: When you look at great leaders and their attributes, it’s easy to see the connection between true leadership and increased profits. What should your leaders do?
- Engage in competitive learning: You’re responsible for developing training for your organization. But it is important to determine if your training adds value to your organization in a way that translates into profitability.
- Construct a positive experience: A positive experience yields higher profitability. Ask yourself: What experiences are you creating for your employees and customers? How can you help shape the experience customers have with your organization?
- Execute with excellence: Think about your favorite product or service. What makes you loyal to that product? Why do you choose that service over others over and over? Determine how you can make that same connection with internal customers. What can be refined in my people, processes and systems to increase our level of excellence?