Although compliance is fundamental to your business, HR functions do not stop there. Companies benefit immensely from establishing the fundamentals of their businesses and relating them to the overall culture, such as mission, vision, and values. You can drive all types of business initiatives by supporting your company’s most important resource- your employees. Here are some areas to consider:
1. Compliance- It is important to stay current on the ever-changing compliancy standards at the state and federal level. Well-organized employee files are also important, so that a company has an accurate and complete record of each employee’s tenure with the organization.
2. Performance management- A company should establish expectations with employees, so they can offer guidance for each employee’s growth.
3. Dealing with the unexpected- Although a client may have well-established procedures, there are always unexpected circumstances that will arise. Recently, several large well-known companies stumbled in their HR function as result of unchecked cultures. If a company has a strong culture and the guiding principles of a mission and vision, employees have a framework for ethical behavior.
Focus on HR initiatives is crucial, especially as employers are dealing with competing priorities, a competitive labor market, compliance, and an increase in audits. Although smaller businesses may be constrained by limited staffing, it is still important to establish the HR functions, so that managers can follow HR procedures without detracting from their functional areas.