Why is HR essential to the success of your business?

November 26, 2014

Why is HR essential to the success of your business?

As you are building your business and developing your services or your products, you will soon realize you cannot do it all by yourself.

You will need to have a good accountant in order to take care of your balance sheet and make sure you stay on track with your financial planning. You may need a business lawyer to help you with a wide range of issues, from copyright and trademark to tax law. You will also need a human resources expert in order to properly manage and serve the needs of your workforce.

Hiring is expensive.

Hiring new staff is expensive. As a small business owner, it’s difficult to gauge when you really need a new employee—whether full-time or as a part-time contractor.

You need to plan and prepare well in advance of your actual need to hire. If you don’t plan properly you will tend to hire too fast with the result you hired the wrong candidate. And then you will have to do it all over again! Can you really afford wasting time and money on hiring the wrong fit for your business?

What’s the talent you are looking for?

Talent considerations should start upstream with respect to the business strategy.  Once a business strategy is established, talent must be front and center in terms of implementation.

What’s your business strategy? Have you identified your future talent needs? Have you assessed your current talent inventory? Are you aware of your current talent gaps and your strategies to close them?

As you are building your business and developing your services or your products, you will soon realize you cannot do it all by yourself.

You will need to have a good accountant in order to take care of your balance sheet and make sure you stay on track with your financial planning. You may need a business lawyer to help you with a wide range of issues, from copyright and trademark to tax law. You will also need a human resources expert in order to properly manage and serve the needs of your workforce.

What doesn’t get measured doesn’t get done.

Develop metrics in order to sharpen your people plans. A SWOT analysis that is focused on human capital related to business strengths, weaknesses, opportunities and challnges will reveal many things:

  • What are your business strengths?
  • What about your business weaknesses?
  • What business opportunities are laying ahead?
  • How about the threats to your business?

Write the answers down and develop metrics to make sure you meet the deadlines set forth.

Preparing in advance your human resources needs, whether immediate or future, will help you understand what to look for, when is the right time to hire and will provide you with a competitive advantage.

Image credit: by woodleywonderworks, flickr.com.

Author

Aline Ayoub

Aline has made a lifetime career in HR and is the founder of Aline Ayoub HR Consulting; a bilingual company that is helping small businesses recruit and hire the right people through a unique hiring process she has developed. She is an award winning coach and is an active member of Human Resources Professionals Association (HRPA). Visit Aline’s website or follow her on twitter and LinkedIn.