The days of thinking about human resources (HR) as merely a supportive, administrative function – say, passively managing employee documentation, overseeing timekeeping and administering payroll – are long over. Increasingly, leaders are recognizing the broader value of HR as a strategic partner and the critical importance of HR in overall business success.

If we think of people as the foundation and most vital asset of any company, then it’s clear that HR can significantly impact nearly every aspect of a business.

So, why does HR matter?

In today’s workplace, what all does HR encompass? What is the purpose of HR?

• It’s everything having to do with your team members, including your people strategy and management of the employment experience – from guiding the workplace culture to attracting and retaining the best talent, developing talent, enhancing employee wellbeing and inspiring morale, engagement and productivity. All these activities govern how satisfied employees are and influence the quality of their work output and retention.
• It’s the structure of your organization, the engine that keeps everything running smoothly every day. This includes policies, procedures, programs, systems and compliance.
• It’s strategizing and preparation for the future, using people analytics to uncover insights and opportunities, helping to anticipate potential challenges ahead, and determining how your organization may need to adapt to remain competitive and avoid risks.

Certainly, no organization today can thrive without a robust HR strategy, especially as businesses grow in size, geographical reach and complexity. This point is beyond debate.

When implemented well, HR is the key that unlocks success. On the other hand, if HR is not implemented well, the consequences can be disastrous.

As it turns out, it’s not enough to simply have an HR function. How you HR matters greatly to the long-term outlook of your organization.

What we’ll introduce in this discussion:

• What makes your approach to HR robust and effective?
• How do you know when your organization is doing HR well? What does success look like?
• What are some practical ways to get started right now in improving your HR practices?

The strategic role of HR in business success

A robust, effective and successful HR strategy is one that is:

• Relevant to and aligned with the organization’s current needs.
• All-encompassing.
• Fully integrated into each aspect of business operations and decision making, rather than being viewed as its own separate department.
• Given a seat at the leadership table and the buy-in of executive leadership.
• An enabler of an employee population is that it is not just engaged but fulfilled in their workplace.

When HR is executed well, businesses reach their goals and achieve desired business outcomes. There exists a direct connection between effective HR practices and these outcomes.

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