What is value based HR Management?
It is a set of functions quite away from routine administrative activities, which contribute in developing capabilities to compete and take business on a high graph. It includes increasing attraction rate of the organisation, developing and retaining the talent, acting with speed and agility, creating learning environment, providing strategic clarity and facilitating innovation with empowerment. The demand on HR Management to become value based and strategic is increasing day-by-day. To remove the label of ineffective, incompetent, cost addition and value sapping, HR Managers have to create value and move beyond routine functions of statutory compliances and record keeping to strategic partnership in business.
Here are the following steps to provide value based HR management : 1. Creating a learning environment
To create value, HR professional has to foster a learning environment in the organisation and learning now has to happen at the convenience of the employee and also if they need new skills to perform a particular task. It has to be continuous activity. The skills which may be required tomorrow, has to be a developed today. The HR professionals role is to create rich, multi dimensional learning environment in which employee can find the right resources and also to develop internal trainers to take on the task to develop their human resources. The organisations and HR professionals who perceive and treat the training as a sheer wastage of time and money and only a HR tool of pleasure, are mistaken and they are bound to pay price for this misconception. It is not just knowledge that is important, it is acquiring that well in time. Quick assimilation of knowledge and transferring the same to others is need of the hour.
2. Increasing attraction rate
The scene is changed. It is not talent in que before the organisation for job but vice-versa. HR professional has to sell his organisation to attract the talent by exhibiting their values, vision and mission, employee related practices and convincing them to join the organisation. It is true that compensation packages lure the recruits to great extent but recent studies have started showing that career advancement and monetary gains has been replaced by work/life balance. Talented people are no more prepared to sacrifice their family happiness for work and money. What attracts now a talent is getting a right work environment with flexible people centric policies and his personnel development. By linking recruitment, motivation & development initiatives into an overall strategic plan, HR professionals may be able to ensure that organisation has the right people with the right skills to meet business objectives. HR professionals have to send a message down the line that organisation value nothing but talent and they are seen as integral part of organisation success.
3. Retaining talent
The biggest challenge for HR professionals today is to retain their talent. From the very first day you have to internalise the person joining your organisation, create a sense of belonging because most of the talent join the organisation with high expectations and with heavy impact of previous organisation culture. The most common reasons of attrition are well known like job dissatisfaction, organisation climate and value system, internal politics, bad boss, absence of reward systems etc. HR professionals have to add value by engaging people in organisation vision and make them feel that their position in the organisation is relevant.
4. Mastering technology
Now a days it is necessary for HR professionals to master in technology and use intranet, computers, and internet to meet employees demand of reducing the time spent on routine tasks and creating a transparent invironment. By technological use HR can focus their knowledge and energy on strategic initiatives and create solutions to business problems. Technology reduce time and cost for HR to deliver on the promise of speed. If HR systems and processes are streamlined by technological use and employees needs are met on line, then this provides a visible demonstration to the whole organisation that HR management is capable of responding quickly to business needs.
5. Developing leadership
It is for the HR to identify and prepare those buddy leaders in order to ensure the future success of the organisation, who in turn should define the organisation approach to HR issues and set the tone for its strategy. Its very simple to make tall statements like believing in the value of people but unless the head of the organisation has passion about linking people and how they perform to achieve business goals and strategy, the gap can not be filled up. It is a leader who has to consistently drive the effort failing which in long term it won’t work. To add value HR has to provide the adequate tools and environment to future leaders they need to communicate business strategy and command support from outsiders as well.