The success of a business is mainly dependent on the quality of its employees. The more aligned the people’s skills to the business operations, the better the productivity and the more profitable the business. Thus, today, the HR function is more critical than ever. The onus is on the HR Managers to find the best possible talent and train them in business operations. Meanwhile, they must also be aware of the challenges and risks.
We at Shortlyst have assimilated 5 of the significant risks HR Managers face today. Read on to know what they are.
Talent
As already discussed, hiring the right talent is crucial to the success of the HR Manager. A talent mismatch could be disastrous for the business. HR managers must ensure that the company has the right talent in place and at the correct time to meet its strategic goals. It can be accomplished by having a clear talent management strategy and regularly assessing the organization’s talent needs. A robust hiring roadmap can help solve this issue from the start and ensure that there are no nasty surprises down the line.
Looking to hire? Here is an HR Manager Job Description to help you find the right candidate
Employee relations
Employees need to maintain good relationships and work with each other in a better manner. It ensures that the team works without friction and guarantees better productivity. HR managers must manage employee relations and resolve conflicts in a way that is fair and consistent. This can be approached by training managers on effective conflict resolution and communication skills.
Compliance
HR managers must ensure that their company’s HR policies and practices comply with all relevant laws and regulations, such as those related to discrimination, harassment, and employee privacy. It is also essential that the employees are aligned on this. HR Managers can address this risk by staying informed about changes in laws and regulations and regularly reviewing and updating company policies. Also, they must constantly update the employees about any changes. Regular training and assessment can also ensure his.
Reputation
The company’s reputation is utterly crucial for the business to be profitable. HR managers must protect their company’s reputation by ensuring that all the company practices are ethical and that any negative information about the company is handled appropriately. This can be achieved by having a clear and transparent communication policy and being proactive in addressing potential issues.
Cybersecurity
It is the responsibility of HR Managers to protect the organization, employees, operations, and client data from cyber threats. This can be approached by implementing proper security protocols, regularly updating them, and conducting regular employee training on cybersecurity best practices. You can also have a separate team to ensure your security is watertight.
In addition, to this, there can be multiple other risks that an HR Manager may face:
- Digital transformation: Are your HR functions adaptable to digital transformation?
- Leadership: Are your leaders approachable? Are they creating the right work culture for the employees?
- Compensation: Are your employees being compensated fairly and as per standards?
- L&D: Are you providing enough opportunities for employees to facilitate their learning & development?
How an HR Manager tackles these risks is critical for the organization’s success. Hence, it is vital to ensure that your managers are educated about this and have the knowledge and support to deal with them effectively.
Looking to hire one for your organization? Check out Shortlyst’s AI sourcing tool powered by smart filters that help you narrow down on the right candidate for your organization.
