Any business owner who has been around the block a few times knows the importance of using the end of the year as a chance to return to their people policies, consider the achievements and challenges of the past 12 months, and do some careful planning for the future. Keeping on top of your human resources can be tricky, but it’s also essential if you want to run a successful company.
Before getting stuck into any finer details, it’s wise to take a step back and think about the big issues that need your attention. Here, we’re going to provide you with the inspiration you need to make your planning as effective as possible.
Anticipate any key legislative changes
Not a year goes by without a new piece of legislation coming in that will have an impact on your business. Of course, these are often for the greater good, and will help you to build a stronger workforce. But if you’re not prepared, they can catch you off-guard and cause you significant problems.
Make sure this doesn’t happen by taking the time to anticipate any legislation that will be coming into force, and working out what you need to do to ensure that you’re compliant. In 2016, necessary considerations are likely to include the introduction of the living wage, compulsory gender pay reporting, and the rise of the income tax personal allowance.
Consider external forces that are out of your control
Often, a lot of thought is given to planning for internal factors, such as sales that you might be running, employee holidays, and so on. You need to make sure though that you’re also thinking about external forces that may have a significant impact on your business.
Are there any big events coming up in your area, and what will they mean for your operations? Are there any other businesses that are likely to be setting up shop, and what are the implications? Could your top talent be tempted to look elsewhere? You can rarely stop these things from happening, but you can make sure that you’re as prepared as possible.
Ask yourself whether you’re really considering strategic goals
We’re past the days of HR being all about tea and sympathy. Savvy business owners know that the function needs a seat at the table, and that it can play a significant role in meeting strategic goals. Despite this though, many leaders still aren’t using policies and practices to truly drive their organisation forward. To say that this is a wasted opportunity would be a huge understatement.
How are you nurturing your teams so they can fulfill their potential? How are your performance management processes encouraging individuals to excel? Is everyone up to date and onboard with the future direction of your business, and do they understand the part that they will play? It’s easy to get caught up with all the everyday, operational concerns. And these are of course important. But if you want to move forward, you need to ensure that you’re taking the time to think strategically.
Finding enough hours in the day to plan your 2016 can be a challenge in itself. It’s a non-negotiable though if you’re serious about smashing your goals. The good news is that you don’t have to do all of this on your own. We have many years of experience, and we can help. Get in touch today for an initial chat about how we may be able to work together.