HR Practices: Helping Businesses Evolve Rapidly

What comes first to your mind when you hear Human Resources (HR)? So a business division responsible for finding, screening, onboarding, and training job applicants is Human Resources. Or simply how to prepare for an HR interview?

However, Human resource is a broader concept with several other aspects involved. For example, an HR employee is responsible for not only onboarding but also an employee’s well-being in the company.

The decisions and initiatives taken by the HR department decide if the company is employee centric or not. Additionally, an HR employee is responsible for managing employee benefit programs and maintaining a sound environment in the company. Therefore, HR plays a crucial role in supporting organizations to cope with a dynamic business environment and hire quality employees.

To sum it up, apart from hiring employees, there is a significant impact of HR practices on employee satisfaction. So, what are HR practices exactly?

What are HR Practices?

HR practices mean the strategic operations of human resources that create the base for employee onboarding and management of employees in the company. Best HR practices also involve consistent coordination with senior executives about the business plan.

Predominantly, companies with best HR practices in India are certainly leading in their respective business domain.

HR Best Practices

A few points that mark good HR practices are:

1. Providing job security

As per a survey in 2020, job security is considered the third most important factor by employees. However, it should be viewed as the best HR practice, as employment security is crucial in these unprecedented times.

Having a company which enables employees to provide for their families, even in tough times, drives motivation and gratitude. For obvious other reasons, such HR practices directly impact employee satisfaction in a company.

2. Selective hiring

Employee security is crucial, but so is hiring the right person. So, the second best HR practice is funnelling the right people for the job. Companies strive to hire the best people with the most value for a job.

In addition, having a neatly structured and fair selection marks it as a cherry on the cake. This includes legal requirements, internal diversity goals, and a more diverse workforce.

3. Fair compensations

We all know passion drives people. However, we can’t deny that money is also a driving factor. Hence, fair compensation and benefits make it to the list of good HR practices. Hiring the right person means paying above average. Such employees shall add the most value to a company.

An HR practice also involves retaining such employees. Both these practices serve as an example of how combining two practices can add more value towards the overall development of employee satisfaction and the development of a company as a whole.

4. Providing training in relative skills

A few companies with best HR practices in India are entitled to their tag owing to the employee upskilling factor. A company should highly invest in budget and training time for its employees.

A company must ensure that its employees are updated with the new technologies and software entering the market. Since technology is dynamic in the current scenario, the training factor stands tall. Additionally, if employees are honing skills with a company, they develop a sense of trust in the company. Therefore, such HR practices in employee engagement are crucial in employee retention and overall company growth.

5. Easily accessible information

Sharing data is crucial. Large organizations specifically struggle in this genre. Keeping track of who knows what to get answers quickly is essential.

Primarily, there are two effects of information sharing

a. Open talks about strategy, operations, and finance devise a culture that helps employees feel valued and trusted. It also helps in the active participation of employees. A significant advantage of this factor is it terminates negative, informal chatter.

b. People can share their ideas easily as they are informed and aware of happenings in the business.

Parting Words

HR practices are the best option to circulate information among employees. This is done by creating sub-groups for people from various backgrounds or communities. HR also leads the creation and distribution process of updates and newsletters.

All in all, leveraging a bunch of HR best practices together is resourceful for organizations. The incorporation of two or three of the practices shall result in miraculous results.

According to Scoop Whoop, Google India, RMSI, Marriott Hotels, American Express, SPA Labs India, Intuit Technology, Intel Technology, and Wipro are a few companies with best HR practices in India.

Apart from these companies, a few firms are also striving to be employee-centric using their customized ways. For instance, SRV Media, a Pune-based media firm, offers short leaves to employees. This is a unique concept wherein employees are entitled to take a break of 90 minutes whenever required. However, the limitation of short leaves is two per quarter.

The company also follows other exceptional HR practices like employee engagement, fun activities, leave policies, comp offs, etc. Ensure that you look for all such factors while choosing a company as your employer.