MANAGE YOUR PEOPLE EFFECTIVELY
On an annual average, around 80 percent of the total cost of a business is attributed to wages and salaries of its employees. To add to the basket are diversified workforces, industrial relations, statutory compliances and problems of poaching, recruitment mismatches and high turnover rates. And what we get is the tip of the juggernaut iceberg that businesses face in managing its HR function.
Lack of expertise and most often the inability to devote enough time into this vital function make businesses turn to HR consulting and outsourcing solutions to manage some of the important and foundational functions of HR.It is pivotal to success of any organisation that it primarily focuses on its core business while the other supportive and non-core functions be taken care of by consultants. HR consulting isn’t a new phenomenon but with the rising complexities of managing the entire gamut of HR, business organisations often prefer to partner with HR consultants.
Most of the start-ups take off on a cautious note and they can often be characterised with high centralisation of authority, shorter chain of command and smaller span of control. But as the business begins to expand, the need for functional specialisation, departmentalization and formalization starts to emerge. Organisation Design brings together all these elements into an effective mix to lay down the flow of work across the organisation.
Staff Analysis and Succession Planning
One of the core objectives of Human Resource Planning is to ensure that the demand and supply gaps in the workforce are met with. This involves assessment of present manpower status (staff analysis) and identifying future manpower requirements at various positions in the organisational structure. Succession Planning ensures the availability of next generation of managers and leaders to fill the void resulting from resignations, retirements or even transfers and promotions.
Policies and Procedures
Just like every nation follows its constitution, similarly every business needs to lay down its policies and procedures which should reflect the core values of management and eliminate ambiguities. It should also include the SOPs for all HR activities and processes like leave and salary processing, grievance mechanism, performance appraisal etc.
Change is inevitable and demands a response. In order to adapt to the changes in its internal and external environment, businesses need to identify and manage change. And in doing so, they need to prepare its workforce by developing and fostering talents and competencies which are essential for managing change.
Performance and Risk Management System
No business and its operations are free from risks and uncertainties and their occurrences have a direct bearing on the performance of the employees. This has necessitated the embedment of risk management with performance management.
Every company irrespective of its size and operations seeks to increase and maintain high levels of employee productivity. HR is the costliest function of any company. On an average, wages and salaries roughly constitute 80% of the total costs of a company. It becomes...read more
Association with a management consultant can help a business enterprise minimize the risks involved in the implementation of solutionsHiring management consultants is commonly considered as a practice restricted to big domestic companies or MNCs. However, that is not...read more
Organizing is the second critical function of management after planning. Through planning, a business enterprise defines its goals and objectives and lays down the detailed roadmap to achieve these goals and objectives. But that roadmap has to be actualized and...read more