Human resource departments have the potential to improve your company in many ways, and many of these ways often go underutilized. With so many possible uses for the HR department beyond distributing benefits information, most business owners can get so much more value out of their companies by using their human resources departments to the best of their ability. Even if you're your own HR department, there are ways you can take things to the next level that you never even thought of before.
Track Collegiate Talent
There's no reason to begin scouting out an employee's potential after they've gotten out of school. In many cases, there are bright stars in the graduate and undergraduate programs of schools near and far. These energetic, fresh young minds are the kinds of people you want to be recruiting actively because if you don't, your competitors will.
Allow Employees Autonomy
More autonomy tends to result in more creativity and ultimately more accountability. When your employees are allowed to work more on their own terms, this encourages them to be accountable and really own their work. When management is only occasionally visible and offers a helping hand rather than a waving finger, employee morale tends to improve and productivity tends to rise.
Offer Development Opportunities
Offering professional development programs is a great way to help your employees grow. Skilled employees can improve your business, especially when a good-natured competitive environment tends to spring up. With your employees constantly striving to be the better than where they were before, your company is certain to push past its previous best performance.
Provide Equity Options
People do their best and care their most when they have a stake in things. The best way to give every employee in the organization a stake is to offer equity options. While not every employee will want to become a partial owner, many will work harder and smarter knowing that they're growing their own wealth this way.
Create More Work/Life Balance
Employees all have something they want that will make their life that much better, and often it's within your power to provide these things. The best way to figure out what your employees want is to ask them. Sometimes the answers you'll get will surprise you, such as on-site daycare or a gym with personal trainers.
Other times it'll be things like telecommuting or a results-oriented workplace where they don't work as often during regular business hours. The rewards for being flexible are tremendous.
Incentivize Creative Ideas
Your employees are constantly seeing what's wrong and often have ideas on how to fix it. If you listen to these ideas, your business will likely get better. If you reward the good ideas and strongly reward the best ideas, the ideas will keep coming and your business will keep improving.
The human resources you provide your employees can pay you tremendous dividends. Often the ROI of these additional resources is unbelievable
Chris Hodge has been an entrepreneur since 2007, and made plenty of mistakes with regard to treating people properly. Chris has observed that it is possible to give too little or too much, and that either extreme leads to serious problems.