The balance of power has shifted in the job market, and HR needs to adapt. Previously focused on cost-cutting, HR's role has transitioned to advocating for employee well-being and development in order to retain talent. This includes highlighting the true cost of turnover, addressing employee stress through clear communication and restructuring approaches, rebuilding internal labor markets through training and development, and strengthening Diversity, Equity, and Inclusion efforts. By championing employees, HR can become a strategic partner in attracting and retaining top talent in this competitive job market.
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The war for talent is real, and retaining top employees is more critical than ever. But how can companies ensure they're creating an environment where employees feel heard and valued? This Harvard Business Review article dives into the evolving role of HR, and how advocating for employees and creating a culture that fosters belonging and development can drive success. Read the full article here: https://hubs.li/Q02HgP3y0 #HRTrends #EmployeeEngagement
HR’s New Role
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Sharing this interesting article from Harvard Business Review on the evolution of the HR function, from cost-cutting in the 1980s to prioritizing employee well-being and retention in a tight labor market. It explains the need for HR to advocate for better compensation, training, and development policies, while addressing employee stress and promoting diversity, equity, and inclusion to enhance organizational flexibility and loyalty. 👉 ''If leaders realized that the true cost of turnover is often a multiple of an employee’s annual salary, they would immediately demand changes.''
HR’s New Role
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This article is a game-changer! It brilliantly captures the seismic shift in HR from penny-pinching to people-centric practices. It's like a wake-up call for the business world, urging us to prioritize our most valuable asset: our employees! With its engaging insights and actionable advice, this article has me fired up to lead the charge for positive change in HR. Let's make workplaces places where people thrive! #GameChanger #EmployeeFirst #InspiringInsights #HRRevolution #LeadingTheChange Share your thoughts in the comments section!
HR’s New Role
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Is HR returning to its roots? According to a recent article from the Harvard Business Review, the answer is a resounding yes. To effectively tackle the challenges of hiring and retaining top talent, HR departments must refocus on prioritizing employee care. Read more about this essential shift! #EmployeeExperience #HR #HRBestPractices
HR’s New Role
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Major Accounts UpMarket District Manager HR Transformation Expert | HCM Consultant | Driving Business Success through Innovative Solutions
Just read an insightful article in Harvard Business Review by Peter Capelli & Ranya Nehmeh on HR's evolving role. It emphasizes how HR can illustrate the true costs of employee turnover, pushing for more strategic talent investments. Neiman Marcus's case study, where detailed turnover costs justified enhanced paid leave policies, highlights the significant impact of informed HR strategies. This is a must-read if you're looking to gain a strategic advantage for your organization and looking to drive success!
HR’s New Role
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HR The Opportunities HBR has a great article (link below) showcasing the roadmap of opportunities for HR. The cost of turnover, the retention, career development, the impact of employee stress and so much. The focus is clearly on how HR can lead the way for organizations to understand the costs and benefits that they may be missing by not engaging and collaborating with their talented HR colleagues. https://lnkd.in/gE3ACxqT
HR’s New Role
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Check out this fascinating article on the evolution of the HR function! Economic pressures have forced HR to shift its focus from employee advocacy and internal talent development to cost-cutting. However, with tight labor markets and rising workplace stress, HR is now being urged to prioritize employee well-being and retention. This means emphasizing better treatment, pay, and development opportunities to ensure organizational success. Read more here: https://lnkd.in/gtqf-8pP
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Excerpts: A final area where HR can take the lead is diversity, equity, and inclusion. The “equity and inclusion” components, which get less attention, are where HR advocacy for employee interests is especially needed. Improving equity involves making the treatment of employees and the distribution of opportunities fairer, offering opportunities on a clear and meritocratic basis, reducing favoritism, and tying rewards to actual performance in a straightforward way—all changes that reduce perceived injustices, which can create enormous stress for employees. Increasing inclusion comes down to creating an atmosphere of tolerance and helping employees with their individual challenges. A work environment in which employees feel safe being who they are encourages people to speak up and inspires a sense of pride and belonging. Those positive feelings translate into hard work and increased employee loyalty. Employers who get DEI right are far more able to attract talent because it widens the pool they can access, particularly among younger people. #diversityequityandinclusion #roleofHR #HR #sustainability
HR’s New Role
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To meet the fundamental challenge of hiring and retaining good people, HR's focus is returning to taking care of employees. Read more in HBR:
HR’s New Role
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To meet the fundamental challenge of hiring and retaining good people, HR's focus is returning to taking care of employees. Read more in HBR:
HR’s New Role
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