Many companies across a variety of industries look to human resource professionals as managers of people, or human capital, as well as the ones in charge of employee benefits administration. How well these teams of employees perform in the business model is one way to gauge the effectiveness of human resource department strategies and tactics.
The Vancouver Sun reported human resources departments must not only develop strategies for the most effective use of internal resources, but also work to get the most out of every employee hired. Human resources must use employee data, performance reviews and strategic thinking to keep staff motivated and working at optimal levels of productivity to get the highest return on investment with every hire. Without optimizing use of human capital, companies will miss out on opportunities for growth and advancement that can be achieved with altered business practices for higher employee satisfaction.
In an interview with the source, Dave Granger, vice president of human resources at a beer store, explained business leaders are faced with difficult choices in light of the current economic climate. Decision makers must make choices on how to achieve long-term success without negatively impacting employees. To make these decisions wisely, leaders must collaborate with human resources departments for valuable insight and advice.
"Changes to compensation, benefits, pensions and workforce reductions are just some of the choices many human resources executives have been forced to contemplate," Granger said.
