Human Resources Policy
Motivated, qualified employees are the most valuable asset a business can possess. Ensuring the company has intelligent, up-to-date human resources policies is therefore one of the most important tasks facing top-level management. Instead of responding to downturns with mass layoffs, managers should introduce strategic HR activities that help the company’s best performers to develop further while increasing their loyalty to the company. As society ages, high-quality employees will become a much sought after commodity, and those enterprises that offer their next-generation workers too few opportunities to rise to the top are sure to lose them. Inevitably, such companies will be forced to hire them back later at a premium -- if they are to be had at all.
In addition, financial incentives are not sufficient for recruiting young managers, since their career plans today tend not to follow traditional paths. They expect more than just bonuses and a company car; what they want are job offers that provide for flexible working conditions and that allow them to balance professional careers with private needs, regardless of gender. Another key consideration when employees today choose a job is the possibility for personal development. At the same time, companies are becoming more interested in the subject of knowledge transfer, i.e. ensuring that younger employees learn from more experienced workers before they retire, so that critical in-house knowledge remains accessible. Another concern is how is to achieve this without allowing the innovative ideas that entry-level workers bring with them to get lost in the daily routine.
Finally, in the future, companies will be increasingly concerned with employing a “holistic” workforce. No longer will the concept of “workplace diversity” be limited to ensuring that sufficient numbers of women and employees of color are included on the payroll; a key issue will be maintaining a focus on employees as people, including their many lifestyles. Companies will no longer be called upon to merely tolerate diverse lifestyles, but to recognize their benefits as well, while meeting the challenge of integrating them into the organization. Businesses would therefore be well advised to take a strategic approach to these issues now, as a way of ensuring their organizations remain competitive in the future.