Employees are the most valuable asset of a business.
Employees in the 21st century see themselves as valuable economic assets, and they are more likely to perform in-depth research on job opportunities and choose the most attractive positions. Employees' new access to information through online job-posting websites and other outlets has driven companies to adopt innovative human resources strategies to attract, retain and develop their workforce.
Recruiting
Recruiting evolves along with advances in communications technology, and businesses must stay ahead of the game to consistently locate and secure high-level talent. Social media provide a new frontier in HR recruiting, allowing employers to contact potential employees in more personal ways than previously. Using social media for recruiting can also help employers screen employees more accurately. An applicant might dress sharp and speak knowledgeably in an interview, for example, but if the majority of his Facebook pictures depict alcohol binges, an employer might think twice before making a hiring decision. Competitive internships are another innovative strategy that can help to identify strong talent in the workforce. Bringing several people on board to compete for a high-salary position can help to ensure that you choose the best candidate for the position.
Employee Development
Investing in the professional and personal development of your employees can increase employee loyalty, productivity and efficiency, all of which can translate into a healthier bottom line for the company. The 360-degree feedback method is an innovative approach to employee evaluations, using feedback from a range of employees in addition to direct supervisors to provide a complete picture of employees' work performance and interpersonal competencies. Innovative companies learn to create custom improvement and advancement plans for employees with high potential and to tie compensation incentives into achievements in training programs and other personal development initiatives.
Employee Concerns
Employers can no longer afford to treat their employees as if they are "a dime a dozen," hiring and firing employees frequently. Companies' goals of cost control and competitiveness in operations make employee retention more important than ever. Innovative companies learn to handle negative employee issues in creative ways, creating win-win situations for both employees and the company. One innovative method to address performance issues is to tailor specific jobs to suit specific employees. Consistently poor performance in one job is not necessarily an indication of poor work ethic or skills; struggling employees might function much better in different roles or if their current roles are slightly altered.
Legal Concerns
Human resources professionals deal with a wide range of legal issues concerning current employees, previous employees and even applicants. Cases of discrimination or unfair pay practices, to name a few, are a reality for modern employers. Smart companies learn to protect themselves from legal liability in innovative ways. One innovative way to reduce legal risks is to hold regular, company-wide meetings to review company rules and policies, giving all employees a chance to make suggestions and voice concerns about compensation policies, policies for paid vacation and any other concerns. If an issue arises as a result of a documented breach of company code, employers can protect themselves by proving that the employee was present at review meetings and had the opportunity to voice a concern about the policy.
Tags: companies learn, employees more, Innovative companies, Innovative companies learn, personal development, protect themselves