How to Set HR Goals for 2023
14 Actions to Take in 2023 for Employers and Human Resources
Want to perfect your charcuterie board building skills? Perhaps drinking more water daily or taking less selfies are on your New Year’s resolution list? Just as individuals resolve to change and improve, businesses need to create resolutions. These can be company wide or broken down by functional business areas. Performentor consultants provide fractional HR services to scaling businesses and nonprofits and have shared resolutions they have made for 2023 in support of their clients.
These resolutions are beneficial for all growing organizations to review and implement for 2023.
HR Compliance-Related Matters
- Review employee turnover metrics and reset targets. A favorite is to challenge the Leadership Team, Managers and HR/Recruiters to set a goal for the new year.
- Conduct an HR Audit customized to make sure all employee files are updated and that no information is missing.
- Monitor employee annual sign-offs and yearly employee training which can either be required or considered a best practice. Common trainings include safety, sexual harassment, non-discrimination, compliance and ethics, and specific job-related. Many companies require employees to sign off yearly on policy and procedure-related documents, ie Employee Handbook.
- Follow up on any outstanding tuition reimbursements and ongoing employee certifications that the company requires to ensure compliance.
- Review/create a workforce plan to understand the hiring needs of the company, not including turnover. This allows for HR to identify possible internal hires. Out of all hires, target 35% to be hired internally – including promotions or lateral moves. This encourages employee development, employee engagement, and preserves company culture.
- Remind employees to update profiles in Google/Office/HRIS systems.
- Review, update and create policies and practices related to hybrid and remote workplaces. Does your handbook reflect any changes made over the last few years?
Setting HR Strategic Initiatives
- Create/update the HR/People Strategy Roadmap and share with leadership to identify key areas of influence that HR can have on the business. We aim to keep this document aligned with core business initiatives.
- Revisit recruitment strategy for effectiveness and review metrics such as Applicant to Interview ratio and the Interview to Hire ratio. This provides insight into the recruitment team’s performance and what may need to be changed.
- Help build workplace environments that foster employee growth and total well-being.
- Assist with infusing DEI efforts into all facets of their people practices.
Productivity, Performance, and Planning
- Conduct an HR process review to gain feedback and measure effectiveness. An example would be the Recruiter-Hiring Manager Intake meeting. Is this an effective use of time or should the Hiring Manager complete a Google form in advance?
- Calculate the Total Cost of Workforce (TCOW). This is the sum of the total amount of money an organization spends on its workforce. It includes all compensation, benefits, and HR operations expenses such as recruiting and development. This is a more detailed and accurate approach vs. the 20% many organizations simply add overall.
- Review the calendar for any odd events. Are there holidays that fall on the weekend or in the middle of the week? Are there any events that might impact the business (such as less shopping days between Thanksgiving and Christmas or holidays that cluster)?
According to a Forbes article, of the 41% of Americans who make New Year’s resolutions, only 9% were successful in keeping them. Remember that all resolutions should be specific, measurable, achievable, relevant, and time-bound (SMART) goals. To learn more about our take on SMART goals with a twist of STOOPID.
What resolutions will your organization make for 2023? If these resolutions involve HR or people-related initiatives, fill out the form below or give us a call at Performentor to set up a consultation to assist in implementing and keeping them!