With 2018 almost here, it represents as good a time as any to critically examine your current HRM practices and plan for the 12 months ahead. But how exactly does a business undertake such evaluation? Whilst ultimately best practice techniques may vary from business to business, or industry to industry, the framework below provides a fundamental blueprint for how your business should be approaching its evaluation of human resource management heading into the new year.
Assess Current HRM Strategy
Hopefully, your business already set KPI’s and other measures of performance in place, in order to evaluate your current efforts. However, due to the nature of human resources, consideration should also be given to qualitative indicators of performance. See what has been working, and what has not.
Forecast HRM Requirements
Every business has different needs. Integrate your HRM requirements for the following year with the broader strategic objectives of your organisation – will you need more employees, a training program to upskill current employees, a talent retention strategy?
Taking the assessment of your current HRM strategy, and aligning it with your forecasted requirements will more than likely present gaps between current operations and organisational needs over the coming year. But rather than see this as a problem, view the opportunities that can arise from strategic adaptations.
Develop HRM Strategies
With your objective defined through a gap analysis, get to work strategising how to best fill these gaps with effective and efficient HRM practices and processes. Integrate these strategies with your overarching business strategy, and seek out sources of sustainable competitive advantage.