By Janie Warner
On a recently televised football game, the two teams were very evenly matched. Each play was like a tug-of-war with the possession going back and forth. It wasn’t a high scoring game, but it was played with intense fervor all the way to the last seconds of the game. Neither team was willing to accept defeat and there was no time on the clock for any lagging enthusiasm. What a great game!
You are probably wondering what football has to do with the practice of human resources. Actually, it is more of a lesson for all business leaders. It has been a tough year for every industry. It’s tempting to go limping into the fourth quarter with waning excitement and too little energy to start any projects. Instead, leaders may be looking forward to taking time off and just coasting until January 2 when they’ll will pick up the business football, so to speak, and start again.
But this is not the time to quit! Rather, it’s a great time to start writing your playbook for 2023. You can kick it off by looking at five specific things that will give you the focus, drive, and energy to tackle Q1 2023 with greater purpose than ever before.
Task 1: Review your employee policies. Several things have changed, and more change is coming, given the upcoming mid-term elections and the number of initiatives on the ballot. Are you ready for those? Have you looked at the proposed issues and studied how they may affect the workplace?
Check your other policies as well. If it’s been a while since you did a thorough review, you may find that with all the workplace changes made to the workplace during the pandemic, your policies may not have been changed to reflect these new realities. A couple of examples: If you have several employees working remotely, you should review your safety policies and adapt them for workspaces that are not under the company’s control. You will also want to review your attendance policies if your work hours are more flexible now. Look for consistency as well. If you changed a policy in one area, will that change affect other policies? A review can be a bit tedious, but it is a great way to make sure you have addressed appropriate changes.
Task 2: Review your job descriptions. The workplace has changed and so have the workers and available workers. Are you having trouble recruiting some positions because of the stated requirements? Evaluating jobs and comparing the actual tasks to those written in the job description could be a real eye opener. Making changes so that jobs and job descriptions align could be just the thing you need to attract a richer labor pool. Perhaps you have a position that has required a four-year degree ever since it’s creation. Evaluate if that degree is still required to do the job or if it was just a preference. You may also have job tasks that are now obsolete. Do you still have a requirement for a clerk to “type 55 wpm”? Updating for the new millennium may be in order!
Task 3: Review your compensation plans. Inflation has taken a toll on everyone and every business. Employees are probably wondering how their employer will address the rising costs of living and you need to be ready with a robust response. Start talking about it as soon as possible. Do not let pay increases be a surprise. You will not want to lose employees to companies that are loud and proud of their pay practices and are willing to poach your great employees. If you play your cards right, you could be in a position to poach other company’s employees when they hear about how well you pay and how transparent you are in your compensation strategies.
Task 4: Strategize your recruitment and retention systems. Have been offering sign-on bonuses? What about stay bonuses? Would you rather pay an unknown new employee, a lump sum to hire them? Or paying your known, well-seasoned employees who stuck with you through a global pandemic and prevented your business from closing the doors?
Have you been lax in helping employees with their career pathing? If you are worried about turnover, a great way to keep good employees is by showing them how they can grow in your company. With labor participation still at it’s lowest, keeping good folks is just as important (or maybe more so!) than constantly replacing the ones who are already performing. A good strategy will be your best friend as the new year rolls in.
Task 5: Survey your employees. Want to know what your employees are thinking? Ask them! Whether you’re interested in understanding their level of engagement or looking for what benefits are of greatest interest to employees and their families, surveys are a tried-and-true way to gather needed data. Although the fourth quarter is too late to make changes to most of your insurance plans, it is a terrific time to start your planning and strategy for next year. Perhaps you will find out your employees are overwhelmingly interested in pet insurance. You may not have considered it in the past, but through your survey you have some direction on what you need to explore for the future. You may be surprised to learn what your employees value!
Lastly, it goes without saying that a great benefits’ broker will be one of your best resources for helping to navigate products you are considering. Be sure to include them in your conversations and discussions as you head into a new year.
Get Started Now
Does this list seem too daunting? Pick three – or even just one. The important thing is to use the last quarter to craft a business plan to address your top HR concerns. When you start the new year with a roadmap to navigate another (possibly) bumpy year, you will be glad you took the time to review where you are and where you need to be. And when you know where you are going, it’s much easier to find the right road.
Vice President/HR Practice Leader
McGriff, Inc.