The Year of HR
While 2023 might officially be the year of the rabbit, we at Neo Consulting Group think it might unofficially be the year of Human Resources (HR). This once-overlooked, back-office function has now been pushed to the forefront of business conversations, due in part to a global pandemic, remote work challenges, and concerns over social justice. From recruiting and training employees to developing and implementing policies and procedures, HR touches every aspect of an organization.
One of the primary functions of HR is to attract and retain top talent. As the business landscape becomes increasingly competitive, finding and keeping top performers is essential. According to a study by the Society for Human Resource Management (SHRM), companies with effective HR practices have lower turnover rates and higher employee engagement levels. By investing in HR, businesses can build a strong team that is capable of driving growth and innovation.
The main differentiator for companies is now a cohesive and visible company culture, the guidepost by which organizational decisions are made. Two ways that companies can invest in driving culture are through developing employee resource groups (ERGs) and Culture committees. These groups serve as “ears on the ground” to hear how employees are thinking about and responding to the organization or social issues. Coupled with a direct line of communication to leadership, this is a valuable feedback loop that helps drive change, advancement, and overall performance.
"Culture is the foundation of all we do at Airbnb. It starts with our core values: champion the mission, be a host, embrace the adventure, and be a serial entrepreneur. These values, combined with a strong set of HR policies and procedures, guide everything we do."
- Joe Gebbia, Co-founder of Airbnb
Finally, HR plays a critical role in driving organizational change. From implementing new technology to restructuring the organization, HR is responsible for managing the people side of change. By working closely with leadership and employees, HR can help ensure that changes are implemented smoothly and employees are engaged and motivated.
From attracting and retaining top talent to managing compliance and legal risks, HR touches every aspect of an organization. By investing in HR, businesses can build a strong team, promote a positive work environment, mitigate legal risks, and drive organizational change.
Contact us today to discuss how Neo Consulting Group can help transform your HR cost center into an engine to power success!