Human Resources
Human Resources
One of the most important assets in an organization is its employees. Employees manage most aspects of the organization, ranging from producing goods and services, and customer interaction to managing processes and even exploring the leading edges of which the employer can compete in the market. Therefore, the function of managing employees is known as Human Resources. A strong and well-operated human resource function enables the employer to recruit and retain the best talents in the market whilst maintaining the high productivity of the employees. Our team could assist with managing human resource function over a broad array of different aspects, some of which are outlined as follow.
Employee Planning
Corporate strategies must be adequately supported by employees with the right skills and experiences. Without this primary element of support, the corporate strategy will not be materialized. In the planning process of corporate strategies, the strategies need to be broken down into different sets of requirements, and each requirement is supported by a different type of position. The type of positions needed to meet these requirements will undergo an assessment to determine whether these positions can be trained and filled with existing employees or do the position need to be recruited from the market. Unfortunately, we noted despite the importance of having a proper employee planning process in ensuring relevant corporate strategies are well-supported, most organizations either overlooked this process or executive decision-makers are often being given the wrong information about the needed skillsets to support the strategies, resulting in making wrong hiring decisions. Our team has assisted companies in this respect via providing advice on a broad array of activities, ranging from breaking down corporate strategies into specific requirements, and addressing specific issues of corporate strategies to merging human resources activities to support the corporate strategy. Each activity in addressing specific issues of the corporate strategy involves a series of human resource function exercises including corporate culture, job rotation, temporary workers engagement, talent management, assessment of organization structure, job requirements analysis, and many more. In addition, with an in-depth analysis of the corporate strategies and the long-term hiring needs, our team shall assist with identifying and recommending the timing of which additional personnel is needed in certain aspects of the corporate strategies.
Human Resources Budgeting
It is an undeniable fact that one of the key elements of the budget is employee compensation. The employee compensation budget is usually not separate as it is fully integrated into the various business unit and/or departmental budgets. Doing so will allow the departmental heads or business unit leaders to easily identify their respective budgets and be held accountable for keeping the operational costs within the budgeted sum. Our team could assist the company with dealing with various technical aspects in establishing a complete and more realistic budget, as well as interlink performance bonuses with budget performance in the course of aligning personnel monetary interest with performance targets. Furthermore, with the increasing trend of not using a budget in recent years, we shall recommend alternative methods in determining compensation and bonus payment.
Employee Acquisition
The employee acquisition process typically comprises recruitment and candidate evaluation and selection. Traditionally, recruiting is identified as a process of advertisement placement and/or via recruiting agency and hope to acquire the best talent in the labor market. However, according to our definition, it is a lot more than just a recruitment advertisement. Firstly, there are a broad array of alternatives available to attract a specific group of talents which is often overlooked by many organizations. Secondly, a recruitment advertisement is more than just an advertisement to attract personnel but sends critical messages to not just the marketplace but also the internal personnel of the organization. Our team could assist with advising companies on various considerations to be taken into account in the recruitment process, ranging from identifying specific corporate needs to broadcasting to the right group of candidates via a spot on broadcasting channels. We further assist with proposing various recruitment tools, advising the consideration of internal hiring, broadcasting tools, internships, and temporary staffing alternatives.
In respect of application evaluation and selection, our team could assist management in adopting the most suitable method to analyze resumes, candidate screening and interviewing, and the use of testing to filter the candidate pool down to the few most suited candidate that fit the profiles.
Employee Assimilation, Employee Training, Improvement, Work Environment, Succession Planning
Once the employees are onboard, properly merging the capabilities of the employees with the organization’s needs as well as ensuring their skillsets are constantly improved to meet the everchanging business needs involve a series of process which primarily include assimilating the employees properly into the organization, equip employees with the positive working environment, providing employee training and counseling programs to ensure their capabilities are fitted into the needs of the organization at the earliest time and the potentials of the employees are realized and maintained at a maximum rate. In addition, there is a need for a succession planning system to cater specifically to monitoring key employees.
Our team has accumulated extensive experience in working closely with the human resource function of a company in establishing a well-designed employee assimilation process for recruits to ensure recruits be familiar with how the organization functions as soon as possible. As part of our value-added service, our team could assist in identifying a variety of options for creating a positive and full-of-energy work environment in ensuring a work environment that is sufficiently permissive and comfortable for employees to constantly perform at their bests. Career development and employee training are the primary factors that lead to employee departures. Our range of services includes advising on the proper concept of career development counseling, types of training, fine-tuning the relevant pieces of training, and other related aspects. Furthermore, in most organizations, each key position within the organization has at least one designated backup personnel to minimize any potential operation disruption as a result of key employee departures. There are several succession planning concepts and activities which need to be taken into account that our team could assist with sharing.
Employee Evaluation
The performance of employees will be assessed mainly to use them as feedback on their performance and to rate their efficiency and effectiveness. The result may potentially be a promotion or required additional training, or in some worst scenario cases, employment termination of constantly underperformed employees. Our team has assisted with various projects surrounding performance evaluation and ways to improve upon it. Furthermore, when it comes to employment termination which mainly comprises involuntary termination, our team could assist with advising the essential procedures involved in the process and the risks associated with employee layoffs and firings. On the contrary, when dealing with voluntary terminations, our team shall assist the company with the methods of taking advantage of voluntary terminations via certain activities such as phased retirements, exit interviews, alumni networks, and other possible methods.
Employee Costs and Cost Reduction
Employee compensation and relevant benefit costs may potentially be the largest expenditures in most organizations. Naturally, measures should be taken to curb the costs at a reasonable level whilst maintaining the market competitiveness of the compensation package. Managing employee costs involves engagements in many aspects including a thorough understanding of existing payment systems, type of benefits available, matching to the market average, feedback from existing and departed employees, and more. More importantly, organizations need to recognize the need to balance their employee compensation against paying below the market rate which results in the risk of losing key employees and accompanying profits. Our team could work closely with the Human Resources department of the organization in addressing the issues of the setting of compensation levels, commission systems, additional payments, the minimum wage, bonus plans, and other related aspects. In addition, the employee benefits package is often viewed as the key tool for an organization to recruit and retain not only the top talents but also to maintain a relatively low employee turnover rate as a whole. Knowing that employee compensation and employee benefits represent one of the largest expenditures in most organizations, our team while assisting organizations with establishing a competitive compensation and benefits package, shall factor into our services the element of mitigating these costs. There are a wide variety of cost reduction techniques in this regard, and these techniques are generally categorized into different phases of human resources function, comprising employment recruitment, temporary cost reduction techniques specifically catered for financially troubled organizations or during an economic downturn, and more permanent solutions. For more details of our service scope in the aspect of cost reduction, please refer to Cost Control & Reduction.
Analysis
Attributable to the sizable expenditure amount of employee compensation and benefits, there are several key metrics that our team could assist with recommending to monitor the different aspects of human resources. These metrics typically are specifically designed to monitor the performance of employees, productivity, and the cost of employees. In addition, our team could further assist with exploring metrics that measure hiring efficiency, the income-generating capability of the team or individual employees, and other issues.
Administration
Our observations indicate the requirements to retain documents related to human resources have increased gradually over the years mainly attributable to the increased volumes of legislation seeking certain documents to be kept as evidence. In other words, since the human resources department is tasked with recording all employment-related transactions, an increase in document retention requirements also implied the increased workloads of documentation administrations. Depending on the government of the respective country or province, these documents are generally required to be maintained for several years. Furthermore, for internal reviewing purposes, management often relies on data from human resources records in making a variety of well-informed human resource decisions, such as promotion, termination of employment, converting a temporary position into a more permanent position, and many more. Our team delivers value-added service by assisting the company in the aspect of records management, specifically assisting with assessing the duration of maintaining the different types of records, the security towards protecting these documents from unauthorized access, and the destruction of these records.
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