Most likely, you have engaged in some sort of strategic planning session as we approach 2018. When looking at the year ahead, ensuring your HR goals align with the overall business strategy is critical. After all, your people are what propel your business forward. One approach to consider is comparing the current state of your HR function against best practices and industry benchmarks. Where do you want to be? How does your organization stack up against others? The answers to these questions can be a fantastic way to provide real value to your organization. Here are a few suggestions to get your started:
Identify & Align
The first step is to identify what parts of your HR function need improvement. Common areas for review include recruitment, performance management, and employee training and development – as they all can significantly impact the success of an organization. Challenges in filling open positions, managing struggling employees, and ensuring your workforce has the skills needed for tomorrow can impact the bottom line quite a bit. These areas are not HR issues, they are business issues. Make sure they align.
Assess, Benchmark & Compare
Once you know what needs improved, your next step is to review best practices and benchmarks for those areas. For example, if you chose to focus on recruitment, you would review recruitment process best practices, identify current trends in candidate sourcing, and review benchmark data for recruitment metrics such as time-to-fill, quality-of-hire, and retention rates. This information can provide insight into where your organization currently falls on the spectrum.
Develop & Implement
Using best practices, benchmark data, and knowledge about your own unique environment, you now have the tools to draft your HR goals. Where are you now? Where do you want to be at the end of 2018? Keep in mind that it is the combination of various data points that matter – not one in isolation or treated as an absolute standard. Each company is unique, so make sure to take your culture, industry, and environment into account.
As the saying goes, “you don’t know where you’re going, until you know where you have been”. When formulating your HR goals for 2018, take a moment to review where you are now and then decide where you want to be. Performing this type of analysis can yield great results for you, your employees, and your organization. What’s stopping you?
Need assistance with developing your 2018 HR goals? Contact us or give us a call at 703-587-5615. We partner with our clients to identify areas for improvement and then create action plans for success. We’d love to do the same for you.