For the Human Resource professional challenges include evaluating the health and welfare plans, establishing productivity metrics and measurements to ensure that employees are meeting job expectations and attracting talent in an environment where finding the most qualified candidates with the right skill set is becoming more difficult. How each business deals with its specific human resources issues depends on how effective the HR team is. No matter what approach a business takes, addressing these issues is an ongoing process.
Virtually all companies offering some benefits to employees, either to appear competitive or to comply with local, state or federal regulations including the Affordable Care Act (ACA). Human Resources will need to determine how their company is impacted and what they need to do to respond legally. Offering maternity/new-born care, pediatric care, rehabilitative care and preventative care are key components of each plan that need to be available. Measurement is also critical and as some low-income employees may be better-off by going through the state or federal exchanges to obtain credits and subsidies. HR departments working with their brokers and benefit specialists will need to create benefit policies and packages that are compliant in order to meet the needs of a diverse workforce.
A primary goal of a HR department is to consult with the leaders of the organization and department managers to organize the work flow so that managers and their subordinates can be as productive as possible. Using typical metrics such as cost per FTE, revenue per FTE and examining overtime as a percent of labor cost allows HR professionals to think critically. Examining the number of people per shift, team assignments and the need to bring on additional staff is a very important role for HR to play. This role can be very challenging as it encourages the HR department to play a strategic role and plan for the future.
With a very tight job market, talent management will be even more challenging as the old methods of attending job fairs, listing positions on career management websites and college recruiting are not the only way to generate interest. New methods of attracting the right candidates may include expanding the company’s presence on the social media sites and matching managers with similar outside interests and potential candidates. These alternative recruiting options can create a bond between the company and new hires. Furthermore, candidates want to see a balance between employment and life experiences. A reasonable work - life balance is a key driver for new employees entering the work force. Companies will need to respond to these new ways of attracting talent and retaining key members of the team.