Time flies. After a year, a new selection of the best HR Management articles comes. I know I am lazy, but I had other projects to work on. However, I am back, and my HRM Handbook will continue to grow slowly again.
We are going through difficult times. In January, nobody expected this year to be so difficult for modern Western civilization. We expected the year 2020 to be another good one. The growth was predicted, not a huge one, but it was still growth.
However, Nature had a hidden surprise. Someone would call it a Black Swan. This surprise has a massive impact on Human Resources Functions around the Globe, as well. Our priorities are forgotten because we have other urgent stuff to be solved.
Nowadays, you can read thousands of articles covering all details about the coronavirus. You can read many recommendations on how to get your people back to the office. You can read suggestions on how to keep in touch with employees who work remotely.
I promise I will avoid the coronavirus in the selection of the best HR management articles. I believe that we have to focus on the world after the coronavirus when our organizations begin to return to a New Normal.
The 21 metrics you need for Strategic Workforce Development
For the modern HR organization, there is more than just turnover and headcount. It knows how to monitor and report critical KPIs that influence and steer the business strategy’s implementation. It understands how essential measures are calculated. It publishes the latest figures regularly, and it tells them as a continually developing story.
HR Analytics is a rapidly growing HR functional area that underpins a sustainable comptitive advantage. It is not just about implementing the competitive HR strategy; it navigates HR Business Partners in finding and naming gaps and growth opportunities in the organization design.
Also, Human Resources has to understand its target audiences. Each HR project and initiative must measure the development of critical success ingredients. No leader will continue investing in any expensive development initiative without any proof of returns.
A competitive Human Resources function will ensure funds to cover the organization’s development requirements; on the other hand; it has to deliver results. It has to measure how the organization evolves, and these 21 metrics are a good start.
What is a company mission statement and how can it define your culture?
We love to work for the organization that has the purpose. It clearly explains to customers, employees, stakeholders, and other external audiences, why it exists, and how it improves the lives of customers.
A company mission statement is an action-based statement that declares the purpose of an organization. Simply, it tells customers, employees, and other communities around the organization, and why they should collaborate with it, how its products and services make lives more comfortable.
It always covers three big W-questions: what, who, and why. So, in short, it explains what you deliver to your customers, following who benefits from products and why you do what you do. It sounds easy, but composing a great mission statement takes months. The leadership team has to come up with a short sentence that is appealing, trustworthy, truthful, and easy to understand and explain.
If You Don’t Give Raises This Year
A regular yearly pay rise will not probably happen this year. The economic downturn does not favor any cost increases that do not deliver immediate value-added. Having no pay rise is emotional to everyone; you expect to receive at least something. Getting nothing is not fair, there is inflation, and everything is so expensive. Also, everyone was working hard and should enjoy a small extra in the pocket.
As always, the coin has two sides. The business has to keep costs down. However, employees should be recognized somehow. They are valuable, even at the moment, when the organization suffers. Employees are not immune; they feel the pain in an awkward moment of the business as well.
You should not cancel the regular pay rise without any replacement. Before you announce no pay rises this year, you should have your cheaper Plan B ready in your pocket.
You can replace it with a success-based bonus, offer extra free time for all employees, or invest a little money into development programs. The range of opportunities is extensive; you have to find out what your employees like most.
The difference between leadership and management
Why the article about the difference between leadership and management? We all know what the leader does. However, we forget all primary leadership responsibilities quite often. At some moments, we talk about leadership while expecting a close micro-management of a broken team.
We see real-life examples of disasters when the manager starts to act as a leader. We know examples of destroyed teams when the leader began to micro-manage direct reports just because she was not sure that they understand what they are expected to do and deliver.
This article is just a small refresh of our HR know-how. We should also talk about the management of the team when we observe a weak performance and work habits at the workplace. It is not a leadership role; it is just pure management.