Cloud HR: Transforming your business this New Year
Many of us will have set new year’s resolutions in our personal lives; so why not apply the same resolve to work? With the new year ahead now is the perfect time to get your business ready to do even better. Examine your financial performance, reflect on future goals and work hard to motivate your team to drive the business forward.
Whilst 2020 has been one of economic downturn and challenges for many businesses, gear up to forge ahead in 2021 and take stock of performance to ultimately prevail in the new year.
Reflect and set goals for 2021
If there was ever a good time to review your business goals, it is at the beginning of the year. Here at TalenTeam we firmly believe that making the effort to review your business and identify goals for the year ahead is the key to success.
If you already have a cloud HR solution in place such as SAP SuccessFactors, now would be a perfect time to analyse feedback from employees to better understand satisfaction levels across all aspects of the business. Take time to review your onboarding and recruitment process, is your sourcing process and application management meeting your business goals? Can you improve your learning and development system? Are you getting the most out of your employees with performance measurement, succession and development plans?
Measure the things that matter the most to the business and look to increase their effectiveness in 2021. Leverage data and HR analytics to make important business decisions quickly and easily.
Speak to your team
Goal setting leads us on to one of the most important and under-utilised aspects of business management and success – speaking to your team. Your business cannot succeed without a hard-working and motivated workforce. Taking the time to speak to individual employees on a regular basis, preferably inline with a performance review, will ensure employees feel valued and listened too.
Share your business goals with employees and let them know how their performance and engagement can help the business grow. The more candid you can be with the team about the areas they can improve on and how the business will support them, the better the results are likely to be.
Examine your financial performance
Whether you have a head for numbers or not, analysing your business’ financial performance is a necessary evil. Cash flow along with profit-and-loss statements will help you to reflect on how the business has managed funds inline with goals. It’s essential you scrutinise your financial reports against old and new goals to help identify areas in need of optimisation and high-growth opportunities.
Harnessing Cloud HR
Poor HR management can be costly in every way but get it right and you could see significant improvements in every area of the organisation, from your top management to your bottom line. With the SAP SuccessFactors suite, you can take control of all your HR processes in 2021 to get the most out of your employees from the minute a vacant role arises to nurturing top talent.
For more information on optimising your existing solution, check out our Health Checks or for a free demo on how SuccessFactors can work for your business, get in touch today.