You Need Human Capital Resources
As entrepreneurs convert their business venture into a startup organization, it’s important to strategically embed human resources as your team grows. As a vital component to the business, it’s often overlooked until a team grows too large to manage your human capital and your culture. If you cannot hire a human resources professional, begin planning for the right systems and tools for managing your team on a small budget.
Human Resources (HR) departments can’t be overlooked when taking into consideration how advancement in technology has shifted how business is conducted today. Process automation for HR teams has led to improved communication, performance evaluations and compliance management. HR systems have reduced in complexity allowing rapid process iteration significantly impacting core business models across industries.
Although internal email networks existed as early as the 1970s for early adopters, it wasn’t until the 1990s when the internet became more accessible to organizations. As the access increased, email communications were rapidly implemented as a way to quickly exchange internal information. Managing communications only became more complex with email and exchanging information in real-time without overcrowding an inbox was a necessity identified in several businesses leading to the implementation of instant chat platforms. Connecting employees with leadership, peers and HR professionals through chat applications like HipChat, Slack and internal chat systems has changed the way information is transferred. As a result, operational effectiveness has improved with the ability to monitor and control communications on internal networks.
Developing onboarding packages every time a new employee is integrated into a company is not a concern for HR departments with a platform that automates these activities. Policies, procedures and training protocols can be handled through an all-in-one software that is designed based on the organizational model. Engaging a software to take care of the flow of information required to onboard an employee reduces human error and allows for documentation to be organized throughout the employee’s engagement with a company. Furthermore, HR can automate notifications when policies change and additional training is required. Employees are able to login to a system and track employment contracts, health insurance policies, safety regulations and required training at anytime. In addition, HR leaders can rely on these systems to remain in compliance with current laws and regulations related to talent management and development.
Technology-focused work environments require automated systems when establishing role accountability and evaluating performance. An individual’s contributions needs to be tracked in terms of how it affects the business goals and vision. Traditionally performance evaluations occurred through the use of pre-developed assessments and in-person meetings with a lot of manual collection of documents and data. Depending on the role, HR professionals now have the ability to access results in a customer relationship management (CRM) or project management software. These readily available results can be displayed in terms of sales results, task completion, project success rates with a detailed breakdown of timelines, group contribution and individual contribution. Understanding who contributed and how an individual contributed is no longer a guessing game. Having this information allows for HR professionals to evolve their processes to focus on coaching and developing talent. This also provides the means for reallocating talent to another role or knowing when an individual is no longer a fit for an organization to maintain a high-performance environment.
Traditional workforce management has shifted into utilizing various softwares and systems that interconnect to produce automated workflow solutions for human resources departments. Not only can HR teams focus their efforts on acquiring, evaluating and developing talent, data can help drive better decision making through the implementation of human resources management technologies.
Want to learn more? Stay tuned for our upcoming eBook, online tools to manage your virtual organization.