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Blank bill format pdf for Human Resources

These days, HR is no longer a  mere administrative department,   but an innovative and strategic hub that plays  a vital role in ensuring business success. This is demonstrated by how HR has  impacted businesses during the pandemic.   ing to Sages People's Research,  87% of C-suite executives credit their   HR departments with having accelerated change  throughout their organizations during COVID-19. However, the same research  also reveals that only 52%   of the C-suite believes that HR’s  new strategic position will last. So how can you keep the momentum going  for your HR department? Among many things,   you’ll need to implement HR best  practices that will boost efficiency   and lead to increased business performance. In this Learning Bite, we’ll talk  about 7 human resources best practices   that are crucial to effective  human resource management. Before that, remember to subscribe to our channel,  hit the notification button, and like this video! *MUSIC* Hi there, I’m Neelie Verlinden and welcome  to another episode of Learning Bites. Today, we’ll talk about 7 HR best practices. First  thing first, what exactly are HR best practices? Essentially, they are a set of Human  Resources Management processes and   actions that work universally - so it  doesn't matter which industry you’re in. Jeffrey Pfeffer has written two books on this  topic: Competitive Advantage Through People and   The Human Equation: Building Profits by Putting  People First. In these books, he proposes that   a set of HR best practices can increase a  company's profit. Let's take a closer look. Providing security to employees Life is unpredictable and work can be a  very important stable factor. In fact,   in 2020, a survey found that job security is  the third most important factor for employees,   second only to salary and location. Job security is essential and underpins  almost everything HR does. In practice,   there will be two contracts between the employee  and the employer: a formal contract (labor for   money) and an informal contract (you put in  some extra effort, we take good care of you). But employment security doesn't just benefit  employees.For organizations, it ensures good   retention, thus lowering the cost of turnover  that the organization will have to endure. Selective hiring An organization’s greatest asset  is its people. Hiring employees who   add value is one of the most  important responsibilities of HR. Research shows that the difference  in performance between an average   performer and a high performer can  be as high as 400%! It's clear:   Bringing in the right people is crucial  for building a competitive advantage. In today’s digital world, there are a lot  of different recruitment tools we can use   to make the right selection. Think of personality  assessments, work test and reference checks The goal of these pre-employment assessments is  to uncover three key candidate characteristics: Ability. Does the candidate have the right  technical and soft skills to do the job?   And are they smart enough to do the job well? Trainability. Can we train this candidate to   improve their skills? Do they have the  aptitude to learn and keep developing?  Commitment. Will this candidate commit to  their work and the organization? And will   we be able to retain them once they  are up to speed and fully productive? Self-managed and effective teams High-performance teams are crucial   for any organization when it comes  to achieving success. Creating   and teams like this is one  of HR's key responsibilities. ing to an article published in the Harvard  Business Review, the best problem-solving teams   are characterized by two traits: cognitive  diversity and psychological safety.   Thanks to the cognitive diversity, the teams are  able to generate more and different ideas. And   thanks to the psychological safety, they feel  comfortable sharing these ideas with the team. Effective HRM includes directly  supporting teamwork by getting   involved in how teams are organized. This  can be done in several ways, including: Measuring team performance Rewarding team excellence  Advising management on techniques  and tools to facilitate teamwork HR also needs to encourage different teams  to work together within the organization.   A team is usually part of a larger entity,   such as another team or department. These  larger entities also need to work together.   Facilitating this collaboration helps to  build an efficient and effective organization. Fair and performance-based compensation If you hire the right people, you want to provide  above-average compensation. These are the people   that will add the most value to your company, so  you’ll want to retain them and pay them fairly. Your compensation package can take the form  of financial pay and employee benefits.   You should keep up with market trends across  your field and adjacent fields to understand   the average rate of pay and where your  company ranks in the compensation offer. And competitive pay is more important than  ever: ing to a survey from Manpower Group,   69% employers are reporting difficulty filling  vacancies. Offering fair and performance-based   compensation will help you build a good employer  brand and give you an edge in the war for talent. Training in relevant skills After recruiting the best people, you need to  ensure that they remain the frontrunners in the   field. This has become even more relevant today  thanks to the exponential growth of technology.   Not to mention, the COVID-19 pandemic  has also highlighted the need   for more training in soft skills like  adaptability and learning agility. L&D is your key to develop an organization   in which the rate of learning  matches the pace of change. When it comes to training format,  you have several options: in-person   instructor-led training, online lessons,  or on-the-job training. Keep in mind that   training is something that should  happen continuously, with constant   updates and improvement, rather  than remaining a one-off exercise. Creating flexible work opportunities The pandemic has changed employees’ expectations  when it comes to work - in particular,   the where and the how. Bloomberg reveals that 39%   of workers would consider quitting if their  employers weren’t flexible about remote work.   At the same time, there are also many employees  that would much prefer returning to the office. This new situation requires companies to have  policies in place to facilitate both kinds of   work while also ensuring effective  collaboration and good performance.   The Adecco Group recommends employers to: Address inequalities to allow a greater section of   your workforce more flexibility by redesign jobs Invest in IT infrastructure to make remote work   a safe option by investing in cybersecurity Reskill and upskill by identifying the digital   skills gap of your workforce and arrange training  to help your employees navigate remote working  Promote management based on the principles  of empathy, agility, and creativity Making information easily accessible Information sharing is essential. Open  communication about strategy, financials,   and operations creates a culture of trust.  It truly involves employees in the business.   Furthermore, if you want your  people to share their ideas,   they need to have an informed understanding  of what’s going on in the business. HR activities that can contribute to  communication across the workforce include:  Creating sub-groups for people  from diverse backgrounds  Producing internal newsletters and updates  Facilitating information sharing  sessions between different departments There you have it - 7 HR best practices  that touch upon different areas of HR,   from talent acquisition to  learning and development. Do you have other best practices that you’d like  to share? Let us know in the comments and don’t   forget to like the video and  subscribe to our channel. Bye for now!