The role of HR in the post-pandemic world has expanded, and it is now a priority for HR to compress costs and improve profitability—strategically. This period of swift transformation has caused businesses to bring HR to the forefront
A survey revealed that 34% of HR leaders planned to optimize their HR function budget in 2021.
The focus of organizations today is on optimizing investments to improve employee experience throughout their life-cycle within an organization, along with employee benefits and employee well-being. There is also a need to prepare businesses for the future of work. Leaders are expected to invest time, effort, and money into building partnerships that can influence the learning agility of the organization and its employees. Aligning employees’ personal goals with business goals has become important to revive the working economy.
And many of them are looking for help to begin right.
With the dawn of 2022, as the world prepares to rebound and re-grow, a sustainable cost optimization road map is of immense value. Here are my top 3 tips for leaders to make HR more effective by ensuring intelligent cost optimization across the hire-to-retire employee lifecycle.
1.Begin with making smarter talent-based hiring decisions
Deploy a two-pronged approach for this.
a. Integrate remote interviews and temporary labor with your hiring agenda