Thanks to business crises over the past ten years such as the war on talent and the disruptions caused by COVID-19, the role of HR has changed dramatically and is more important than ever before.
Demonstrating the importance of HR in organizations today, news magazine The Economist recently compared HR’s role during the pandemic to that of a chief financial officer’s during the 2008 financial crisis.
In other words: HR is an essential protagonist in any business’s growth strategy.
Effectory has known the “secret strength” of HR for over two decades. We have a passion for helping businesses and organizations succeed with the power of employee feedback, and have partnered with HR officers and managers in organizations of all sizes around the world.
More than being solely administrators, as some people think, HR can be utilized to drive business growth and help guide long term business strategy.
As Deloitte have said: “what businesses should really consider are HR capabilities that do not just support the business strategy — but enable it.”
HR knows an organization’s people
One source of HR’s power comes from their knowledge of and connection with their organization’s employees. Employees are on the frontline of a business’s operations as well as a company’s connection to the outside world. They have knowledge that can help make an organization resilient and future proof.
Another source of HR’s strength is its role in bringing together important but sometimes distinct elements within an organization. This process is often referred to as HR strategy.
In simple terms, a HR strategy is when HR fosters an environment that creates an upwards spiral of success by aligning an organization’s people, processes, and purpose. The particular nature of such a combination depends on the organization.
But HR can’t start aligning these things until it has a solid understanding of its people.
By listening to employees and leading from their feedback, HR can positively impact:
- The employee lifecycle
- Performance and Productivity
- Engagement rates
- Profit margins
Employee insights can also guide company culture programs, and be part of efforts to build updated organization-wide vision and values guidelines.
The big question is how to ensure that HR is playing a key role in driving the business forward.
HR can drive organizational growth
Gaining feedback from employees – and making action plans from essential insights that others may miss – heightens HR’s effectiveness in dealing with some of today’s major business challenges.
When it comes to human capital, many organizations are struggling to find or retain talent, up- or reskill co-workers, and get a sense of how inclusive they are.
Whether it's at the onboarding stage, tracking performance, or finding out what will help you can retain talent, an employee listening strategy is a great way to get direct and honest insights from employees. With these insights you can tackle issues before it’s too late and know exactly what’s working well for your people.
A listening strategy is a circular approach to building a sustainable and successful business.
Pulse surveys are a great way to check the mood and attitude of employees. This gives managers and HR invaluable insight when it comes to trends affecting the business.
When you have an employee feedback loop that results in action, you improve your employer branding and have employees who are ambassadors for your brand. This makes you an attractive proposition for potential hires and gives you a competitive edge over your competition.
Preparing for employee feedback
There are questions that organizations need to ask themselves before they embark on building an employee listening landscape.
Here’s three questions that we think a company should be asking itself before it starts to plan surveys:
- How will you reach your employees?
- Do you know what questions to ask?
- Does your organization have the in-house experience, willingness and resources to act on feedback?
It doesn’t matter if you can’t answer positively to all these questions. Effectory has 25 years assisting organizations with setting up world-beating feedback programs, and we’re happy to help any business succeed with an excellent employee listening strategy.
How Icelandair used an employee listening strategy to become a World-Class Workplace
What are the secrets of best employers? Icelandair reveals theirs in another one of our HRLab webinars on October 14th. Join for free!Register
In the new normal, HR is in the driving seat of business success
We’ve seen how HR can use feedback to collect essential data and insights that help organizations build resilience for future disruptions.
A listening strategy that produces tangible results leads to greater employee engagement and improved lifecycles. Both are essential for sustainable and effective businesses that are seeking to thrive in the modern world.
Effectory’s tech and touch approach means that organizations of any size can access the engagement and survey expertise embedded in the self-service platform.
You can save time with our platform by reducing the effort needed to conduct and review surveys. And all without reducing any of the impact that a more labor-intensive process would produce.
HR is crucial in an era when human capital is at the heart of business success
Discover the intrinsic relationship between HR and business growth strategy in our new report: “How HR can lead business success with employee feedback.”
In this report we discuss in detail the relevance and importance of an employee listening strategy, and some best practices when it comes to putting one in place.