Around the world, companies are investing in significant resources to help improve their workplace culture with mixed results. Corporate wellbeing solutions have evolved beyond focusing on physical fitness in an attempt to reduce health care costs, into more of a holistic approach that helps each employee bring their best selves to work.
Employees want to be treated as people, not just as a means to make a profit. Bringing recognition and wellbeing together creates a healthier and happier workforce.
What can HR do to improve the organizational culture and improve the retention rate? How will a holistic approach help?
Human resource management is defined as a strategic approach towards the effective employment and development of a highly committed and qualified workforce to achieve the company’s objectives. Human Resources management is aimed at recruiting capable, flexible and committed people, managing and rewarding their performance and developing key competencies.
Over time, both the attitude towards the people engaged in the organization and the concepts, which are used to describe these people, have changed. Originally, organizations considered the people employed a labor resource, with a focus on the human ability to perform certain functions and tasks.
With regard to the implementation of the scientific advances and new technologies, the nature of labor has changed: workers needed a higher level of education, different skills and abilities. The willingness of employees to participate in decision-making increased.
“Technology must be implemented as part of a thoughtful, holistic approach to education transformation that includes teacher training, relevant curricula, parental involvement, and programs for children that fill unmet needs for basics like nutrition and health care”
In order to fulfill those expectations, smart production systems are put in place to create the required flexibility and capacity. Simple and monotonous processes are being automated, while other processes become more complex and intertwined. Therefore, qualification strategies for the current workforce are required.
Employees need to become enabled to take on more strategic, coordinating and creative activities. In addition, altering the social values of employees and demographic change towards an accelerated aging of society creates further need for action.
To keep employees for the long run, HR needs to focus on the employee and what the company can do to provide the best experience, tools, and working environment. A holistic approach can be used to address both party’s needs, which allows the organization to be protected while keeping the employees happy.
The treatment of a high potential involves various aspects such as the compensation and benefits framework to remunerate him at competitive market levels, performance management to administer KPIs that are tied to bonuses to spur higher performance. While monetary rewards are taken care of, the talent management aspect ensures that the talent is being put on an accelerated career track and given developmental opportunities.
All these show that the company is serious in the investment in human capital and helps the company in its succession planning. The above are just a part of the talent strategy.
At every level and at every stage of our work experience, relevant knowledge such as tacit, explicit, interactive, thoughts, guidelines and so on must be available to the right people at the right time. Holistic knowledge management should become the lifeline of the workplace. Driving the flow of relevant knowledge makes the work environment energizing, efficient and effective.
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