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.
Benefits
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.
Productivity
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.
Talent Management
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.
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