Outside the walls of the human resources department, there’s been talk of splitting the HR function in two. According to the Harvard Business Review, companies would then be left with their compensation and benefits team on one side, and a team devoted to managing and developing talent on the other. The reasoning behind this idea is that the traditional HR function lacks the perspective and insight to “relate HR to real-world business needs.”
While this split is not likely to be widely accepted any time soon, it does beg an interesting question, one recently addressed in SHRM’s weekly #NextChat forum: Who exactly should HR report to?
There’s no question that employee recruitment, engagement and retention initiatives can be a massive driver of organizational innovation often spearheaded by the CEO. But should these priorities take precedent over the compensation management and administrative responsibilities overseen by the CFO?
Learn what the #NextChat community had to say by going inside their discussion.
What About the CMO?
With all the talk about HR finding ways to impact real-world business results and improve people capabilities across the organization, maybe companies should look in a different direction entirely. How about at the department responsible for driving people to take actions that add to the bottom line?
Read our white paper to learn why some organizations are starting to integrate HR with marketing.
Our award-winning candidate experience platform is making the leap from being innovative to being game-changing. CandidateRewards is evolving its feature set to make the recruiting process for candidates and talent acquisition specialists smoother, faster and more personalized.
The new evolution of CandidateRewards platform gives prospective employees a personalized web portal for accessing the information that drives decision making throughout the recruiting process. Key elements like employer value proposition, career path projections, work-life balance and total compensation are quantified on custom-branded dashboards so candidates get any and all questions answered without jumping through the hoops of a generic company portal or waiting for documents to arrive via snail mail.
The platform delivers a host of benefits to HR departments as well. In addition to cutting the costs of replicating print offer letters, the platform streamlines recruitment and onboarding for talent acquisition specialists, allowing them to set up a candidate’s personalized portal in less than two minutes and even giving them real-time data on which candidates are most engaged throughout the process. This visibility leads to less busywork for recruiters and more time for direct outreach to high-value candidates.
Benefits of the Upgraded CandidateRewards:
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Learn more about the features of our upgraded CandidateRewards platform, and be one of our first prospects to take the platform for a spin when it launches – request a live demo now.
It’s an age-old question amongst managers and HR teams: “Why do good employees quit?” Unfortunately, many organizations get so wrapped up in rooting out the source of discontent in their workplace that they spend less time actually addressing retention issues. In reality, some of the smallest shifts in company culture, employee motivation tactics and compensation can have the greatest impact on talent retention.
Here are four powerful HR retention strategies that often get forgotten, overlooked or downright unconsidered:
Promote from Within
Many companies have a tendency to immediately look outside their own walls when it’s time to fill upper-management roles. However, this tactic can send shockwaves of negativity and dissatisfaction throughout the workplace, driving ambitious employees to feel unvalued and unwanted.
Hold “Stay” Interviews
The “exit” interview is a standby in the workplace. But what may be even more valuable for companies are “stay” interviews, where business leaders can pick the brain of longer-tenured employees in order to learn more about why they have stuck it out with the organization.
Invest in Employee Development
If employees feel they’re getting better at their job, becoming more knowledgeable and learning new skills, they’ll be more likely to stay with an employer. That’s why it’s important for companies to foster an environment of learning inside their workplace. How? Training classes, skill workshops and tuition reimbursement programs are great places to start!
Offer “Small Perks”
Sometimes the littlest benefits can make all the difference when an employee weighs whether to stay at their current job. Perks like “casual Fridays”, “donut Mondays”, free dry-cleaning pickup, and discounted gym memberships may not seem like much, but they may be the benefits that stand out the most on an employee’s total compensation statement.
For more overlooked HR retention strategies, check out this article from the Wall Street Journal, then read our blog “Creating an Innovative Company Culture in 5 Easy Steps” to learn how to leverage retention tactics into building an employee-centric workplace.