The Role of HR in Business Development

The Role of HR in Business Development

Human resource professionals are responsible for bridging the communication gap and coordinating with different employees. A company that doesn’t have a human resource department may face challenges in retaining employees.  

Human resource professionals are responsible for conducting different activities and planning employee engagement. These strategies help in maintaining a solid relationship with the employees. Gone are the days when HR’s task was limited to hiring and onboarding new candidates. The role of HR professionals is evolving, and they are contributing majorly to the overall business development of an organization.  

They play a vital role and shape the way businesses operate today. Let’s discuss the key areas where these professionals contribute that can lead to the success of your organization.  

1. HR Compliance  

Different parts of the world have different laws and rules for different industries. It is necessary for an organization to adhere to all the laws and regulations of that specific location. HR professionals must stay updated with all the laws and latest changes in the industry. It is the duty of the HR department to look after all the tasks and ensure the operations are in compliance with the law.  

Compliance management and following all the laws can help your organization avoid fines and lawsuits. It will ensure that there are no loopholes and you can concentrate on your business effectively.  

2. Reduce employee turnover rate  

Acquiring and retaining an employee can be a challenging task for an organization. The cost of finding a replacement is high and will even consume unnecessary time. The turnover rate of the employees can be reduced with different employee engagement activities.  

In one of the surveys conducted by Bamboo HR, 23% of employees even said they might have continued with their job if they received clear instructions about their roles and duties. Here, HR professionals play a significant role in maintaining that connection and coordinating with the new employees.  

Employee turnover is not only going to impact the work, it may also impact the overall quality and hurt the team. HRs can help prevent this situation by building a strong foundation with the employees, thereby helping with the success of the organization.  

3. Responsible for training and development of the employees 

Even big companies like Deloitte feel that training current employees is better than hiring new candidates. It is because the current employees already have a knack and understand the responsibilities of the position well. Investing in their education and training is likely to contribute to the growth of the organization.  

The HR department is responsible for conducting different training and development programs for the organizations. These decisions should be based on performance reviews and feedback from the employees.  

There is no harm in directly asking the employees about the areas and topics they would want to cover in the training. Most HR professionals these days take feedback and implement their strategies accordingly. The right training and development will help boost the productivity of the employees, ultimately contributing to overall business development.  

4. Building a sustainable company culture  

Solid company culture is key to retaining existing employees and attracting new candidates. Many candidates want to work in a specific firm because they are satisfied with their company culture. It will lead to a healthy environment and will keep the employees motivated.  

HR professionals play a significant role in defining the overall culture of an organization. HRs should have a clear understanding in mind and communicate with the employees. Fostering a healthy workspace environment will enhance the productivity of the employees and will lead to the success of an organization.  

One should integrate the core values of the company and keep the organization’s culture in alignment with the values. The HR professionals even make sure that everyone is well-versed with the mission and vision of the organization. They are responsible for creating the foundation and building a culture that lasts. It is one of the ways they are helping in the overall growth of the business.  

5. Support your company’s growth  

HR’s efforts can help in supporting the growth of an organization. HR professionals have a deeper understanding of the employee’s behavior and can provide you with valuable insights. They likely understand the key issues that the employees are facing. You can even trust a human resource professional to help you identify the right candidate for a new role. 

Most human resource teams and professionals are using digital HR software and tools these days. These tools make it much easier and provide them with detailed reports. The valuable insights and data can be utilized to make informed decisions for the growth of an organization.  

6. Cut down different operational costs  

By retaining the employees and taking other initiatives, HR professionals can help in saving on different operational costs. They are even reducing the time that may be spent following the compliances and laws. The HR professionals make things easier for the organization and provide employees with a better environment to work in. One of the examples of how HR specialists can help the company to reduce it’s costs is by outsourcing back-office customer support as its experts manage not only to provide effective back office support services but also improve the business growth, keep the business data secure and remove the financial burden. Thus, only one choice of a dedicated HR professional can solve many issues.

In addition to this, HR professionals plan out different activities which may help in the overall development of the organization.  

HRs should be well-versed with the goals and vision of an organization  

Before taking any step or implementing any strategy, HR professionals should have an understanding of the goals and vision of the organization. Based on the vision and goals, they should set and plan out activities.  

The Human resource professionals should also proactively take feedback from the employees. It creates a positive impact when employees are involved in the decision-making process. Therefore, before implementing any strategy, HRs should consider taking anonymous feedback from the employees. It will provide a deep understanding of the viewpoints of the employees and what are the aspects they are inclined towards.  

The above-mentioned are some of the ways through which HR professionals support overall business development. They play a vital role and are an integral part of an organization.  

The companies should even consider spending on the growth of these human professionals and provide them with the latest tools.