HR Strategies that Reduce Cost and Improve Productivity

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Strategic Human Resource management is a collective effort taken on everything right from recruitment, on-boarding and everyday management. On top of these responsibilities, enthusiastic HR leaders today have to put extra efforts in making sure the work environment is positive and employees and the senior management is happy.

To achieve this, managers often turn to technology, mainly HR management systems to reduce cost and improve productivity. For a successful plan to work, the management needs to focus on the future and strategize accordingly. Here are few ways HR strategies and plans can help reduce cost and improve employee productivity.

Automate Processes

Technology has not only helped HR managers to get work done quickly, it has also helped in reducing the operational cost of the company significantly. Giving an employee a cloud-based online portal can help streamline work and tasks thus getting rid of unnecessary things and delay. A common yet useful feature like the Time and Attendance HR software helps HR as well as the employee work better and no misunderstanding. Taking the decision to digitize things such as new employee on boarding process, payroll and invoice management is also a great step towards cutting costs.

Conduct Employee Surveys

Perhaps a bit old school, but the most complicated issues are solved after knowing the true reality of things that are happening in the company. Today, employees are not motivated by money, they want a good work-life balance to help them sleep peacefully at night. Surveying the employees can result in knowing how to improve their productivity. Some of the questions that can be asked to help get the right answers are:

1. Are you satisfied with your work/job responsibilities?

2. Do you have any technological hurdles preventing you from giving your best?

3. Are you happy with the work environment in the office?

Training and Guidance

When it comes to reducing costs, improving performance of the employees can be the biggest contributor. Employees need to feel that they are provided with constant improvement in the skills and work. Thus, appointing a manager or a supervisor who is not up-to-date with newest methods and technology can affect the employees under him/her. The domino effect can thus affect the performance of everyone involved. Solving this problem with proper training and guidance can help reduce cost significantly.

2 minutes take: These strategies cover most of the beginner level concerns that can help solve issues at different level in the company’s hierarchy related to cost reduction and productivity. Implementing these can help turn the negative points to the company’s advantage!