Get Smart About Your Human Resources Strategy
The acronym S.M.A.R.T. has been a popular technique for goal actualization in many areas of businesses for decades. The application of SMART HR strategy is becoming increasingly popular as labor markets remain ultra-competitive and workforce efficiencies become a mandatory goal for success. Before we delve into how SMART HR strategy can change the nature of your human resources department, let’s reaffirm our knowledge of the SMART technique.
What does SMART stand for?
- Specific (simple, sensible, significant).
- Measurable (meaningful, motivating).
- Achievable (agreed, attainable).
- Relevant (reasonable, realistic and resourced, results-based).
- Time-bound (time-based, time-limited, time/cost limited, timely, time-sensitive).
But what does SMART actually mean?
The SMART technique can guide you with through effective goal-setting in any aspect of your business. In summary, SMART requires each goal that is put into action to meet the requirements above. It must be specific, measurable, achievable, relevant and have a time limit to be considered a true, legitimate goal.
What areas should SMART HR strategy focus on?
Retention + Recruiting – Today’s work environment grows more and more competitive and recruiting remains a challenge or, alternatively, a competitive edge for companies that have it figured out. Using specific, measurable, achievable, relevant and timely goal-setting, you can truly assess how your recruiting and retention goals are faring in this hyper-competitive labor market.
- Onboarding Efficiencies – Employees that are inefficiently onboarded cost your business money in a multitude of ways. You may find poor customer service as a result of bad onboarding. You may notice that your highly paid, highly qualified HR team spends the bulk of their day working on repetitive tasks that could be automated, or you may be losing new employees at a faster clip due to improper training. By applying SMART HR strategy methodology to your onboarding tasks, you will be able to achieve measurable strides as well as identify where your weaknesses lie.
- Silo Reduction – A common challenge businesses across industries face is cross-departmental collaboration. Often, departments are working in “silos” where no one hand knows what the other hand is up to – creating lost opportunity, wasted resources and, worst of all, bad customer experiences. If reducing the silo effect is a top objective for your business, apply the SMART HR strategy to keep working toward your goals and eventually achieve success.
- Performance Management – One of the most obvious places to implement the SMART HR strategy is in relation to performance management. It’s likely that the management team is already familiar with this methodology on some level so the transition should be smooth. It also creates a pathway to success, not a vague trajectory that is hard to measure and leads to lackluster results for the business and discouragement for the employee.
Every aspect of a business is typically geared toward setting and achieving goals, but often the fast pace and lack of attention to SMART HR strategy can cause good work to fall short of meeting its objectives. Without real, measurable goals, your HR strategy can become a series of efforts that happen but don’t result in any positive momentum. SMART HR strategy brings structure and trackability to replace vague resolutions. With verifiable plans and clear milestones, your HR strategy will support the growth and success of your organization as a whole. Oasis, a Paychex® Company, a leading professional employer organization (PEO), specializes in helping businesses implement SMART HR strategy. Oasis offers expertise in payroll administration, hiring, recruiting and training programs, internal communication strategy, comprehensive benefits packages and much more.
Get started today a free personalized consultation from Oasis.