The unexpected ways that good HR staff will save your business money

The unexpected ways that good HR staff will save your business money

When an organisation boasts a skilled and experienced HR department, it reaps many benefits. However these are often things that are easily taken for granted. So when it comes to pressures of cost saving, HR initiatives may take a hit. We’re here to tell you that it’s time to recognise that good HR staff will actually save your business money! Invest in your people and you’ll see the difference in the overall performance of your business. These benefits may be unexpected, but they’re very real.

Staff Turnover

One of the biggest and most unpredictable costs that a business may face is an increase in staff turnover. Losing staff costs money. There’s the recruitment process to pay for, training to undergo, and the loss of productivity while the role is advertised, filled, and then bedded in. Good HR staff will actively work to reduce staff turnover, retaining those very valuable members of your workforce. People are often tempted elsewhere as a result of dissatisfaction, but having invested in the best HR team, this scenario would be prevented at the source. 

Productive Performance

With good HR staff implementing a forward thinking strategy, you can increase the productivity of your entire workforce. Your HR team has the tools to ensure that your entire workforce is able to, and driven to, work to the very best of their ability. Personal development, constructive training and collaborative cultures are all key factors covered by HR teams. They are also all contributors to improved performance. Importantly, if these aspects are neglected you will soon see the opposite effects with a high staff turnover and cultural phenomena such as quiet quitting. 

Onboarding Activities

To encourage your employees to work in a coordinated way that benefits the business, it’s important to make sure that new staff are operating with your corporate values. This is achieved through what’s commonly known as an onboarding process. Your HR team will be instrumental not only in implementing, but in planning these processes. More and more often, senior leadership teams rely on the skills and experience of HR directors and managers to involve new starters in the values of the business from the outset.

Establishing Culture 

Before long, onboarding in an organisation evolves into an ongoing working culture. It is here, too, where good HR teams can reduce costs for a business. Employment is a two way relationship, and it’s your HR teams who are at the face of these interactions. Proactive HR ensures that both staff and the business are being heard. That the needs of both parties are being met and achieving results. For employees, this may manifest in systems to prevent burnout, promote balance, and improve development. And for the business, working culture should be directed to productivity, creativity and growth. When your talented HR team balance these aspects, you’ll subsequently see much more streamlined costs across the organisation.  

Employer Brand

All of these aspects of working life, from an interview to workplace wellbeing to feeling an integral part of the workforce help to build an employer brand. Having a strong employer brand isn’t about sparkly logos and cool promotional films. It’s bout real life word of mouth promoting that you are a good employer. Why should this matter? Because it makes you desirable for excellent and talented staff in all departments. You’ll be able to attract the best and most creative thinkers who will make a difference when it comes to your growth and success.

Reviewing HR Systems and benefits

HR departments should be as dynamic as any other area of your organisation. It’s a field which is continually changing, with new technologies, concepts and strategies. When you employ a good HR director, HR manager or HR advisor, they will say abreast of all of these changes. Most importantly, they won’t be afraid of implementing changes which might be challenging but yield real cost savings, such as redundant benefits for example. 

Relevant Training

How many people joke about workplace training being irrelevant and a waste of everyone’s time? Although it’s a bit of a trope, there’s a very serious undercurrent here. If training processes are out of date, unnecessary, and irrelevant then there are cost implications. Firstly, in the time that your workforce is taking to complete the training that they are not finding useful. Secondly in the feelings of despondency and lack of connection that this fosters. Dynamic HR professionals will know this and understand the importance of strategic and targeted training. 

Employment Law

Of course, your HR Director, HR Manager or HR Advisor have a wealth of knowledge about employment law. They know what you as an employer must do in order to comply with regulations on employment and throughout a person’s career. This experience and knowledge can help to avoid unnecessary costs and stressful disputes. By ensuring that all systems, contracts, and processes are streamlined and legally correct, problems further down the line should be prevented. And this knowledge is ongoing; it changes so it’s important that you’re continually reviewing that you’re up to date. Proactive, skilled HR professionals know this and refresh their own knowledge and training accordingly. Key aspects that your HR team will oversee are:

  • Up to date employment contracts
  • Grievance policy
  • Disciplinary process
  • Employee rights
  • Overseas visas
  • Diversity Initiatives

Strategic Growth

With the increase in HR technology and automated systems has come a shift into strategy for HR leaders. This has meant that HR teams are more important than ever when it comes to implementing business growth strategies. Their knowledge of employment regulations and processes for attracting and retaining the best people are crucial in forming these strategies.   

HR processes, initiatives, and personnel have the capability to save a business considerable costs over the year. The ability of HR teams to do this, though, very much depends on having the right individuals on board. The key is in understanding that this match is different for each organisation. At HR Talent, we specialise in matching the most skilled and experienced HR professionals with organisations in which they fit. With values in alignment, we help businesses to make HR appointments which have a huge impact on the bottom line!

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