We are entering the last quarter of the 2015 fiscal year, and it’s time to start solidifying and planning for your 2016 Human Resources expenditures. There are a wealth of ways you can do this, and it’s vital to strategize your approach to HR budgeting and management properly so that you keep moving forward and deliver the right return on your investment. Here are a few tips and strategies for spending your 2016 HR budget.
Well over 90 percent of the most successful companies out there utilize behavioral interviewing to its maximum potential, according to Recruiter.com. This sort of interviewing encourages applicants to use concrete, real-world examples of their skills, successes and strengths. It helps to ensure you are getting the best candidates and a realistic picture of your applicant pool.
Spend some money on training your supervisors to use behavioral interviewing tactics. Your productivity and quality of workers will improve dramatically.
Increased Performance Reviews
The era of the annual performance review is dead. These tools, once considered a standard, are now increasingly viewed as a non-optimal means of keeping in touch with your workers’ strengths and areas for improvement. Replace the annual review with quarterly reviews or even monthly status update meetings.
Spend some budget money on revamping the process to focus more on employee strengths, less on criticism and more on proper communication strategies. This will increase efficiency and improve staff morale by reducing stress and uncertainty in the workplace.
Training Middle Management
Middle management all-too-often is a holding position where its executives seek to justify their existence. They don’t have clear guidelines or responsibilities and lack the training they need to truly be effective as supervisors. They are undervalued and underutilized. Spending your 2016 HR budget partly training middle managers improves their effectiveness and helps them find a place as an integral part of your business operations chain.
Diversity is a hot button issue in today’s society and culture. Not just a workplace issue, it affects everything in our lives. Take a hard look at your company and see how you can improve effectiveness, morale, efficiency and company culture by improving your policies regarding diversity. Companies that have a truly diverse workforce tend to have greater success overall, so spending a little can mean a lot of return.
Outsource Your HR Services
Are you handling HR activities on your own? Or, is your human resources department struggling? Why not bring in an expert and experienced HR outsourcing service to handle some or all of your areas of difficulty? Whether you use the service as a consultant, to take over part of your human resources responsibility or to take over your entire HR chain, this can be an ideal way to get the most out of spending your 2016 HR budget.
If you are looking for a business- and results-centric approach to HR that focuses on efficiency and outcomes success, QuadWest Human Resources is your ideal solution. Take a look at some of the HR Outsourcing services we offer, and contact us to get started today!