The function of HR is going through a rapid change. As with all industries and internal business functions, the advent of technology has boosted abilities and allowed for the once intangible to become tangible through the capture and analysis of data. In the past 20 years, its function has gone
Having just some uncertain ideas and a logo of your company is not enough to say that it is a brand strategy. To succeed one should have a written plan in details to gain results and understand what should be taken. 3 questions each brand should ask itself before planning
BDC 319 : Aug 2024
The function of HR is going through a rapid change. As with all industries and internal business functions, the advent of technology has boosted abilities and allowed for the once intangible to become tangible through the capture and analysis of data. In the past 20 years, its function has gone from submitting absenteeism reports to reporting on turnover and other employee numbers, to today delivering tangible business outcomes. While HR professionals have long cared about business strategy, the challenge has always been the ability to forecast, to prove with some degree of certainty what their actions would deliver for the business – what retention really meant. With the inability to predict outcomes, HR historically battled a disconnect when requesting budgets, knowing that their actions would have positive impacts, but not always being able to say exactly what that meant for the bottom line. The shift has begun; HR Managers or Directors are now becoming HR Business Partners, a sign that the function of HR is transitioning towards something more strategic, aligning with the goals of the business and driving outcomes that can be measured in a way business leaders understand and therefore demonstrating ROI. What is strategic HR? Strategic HR includes all of the typical HR components, including hiring, discipline, and payroll, but through the use of technology, HR can now also work with the business to boost retention, improve the quality of the work experience, and maximise the mutual benefit of employment for both the employee and the employer. HR departments today collect massive amounts of people data which can fulfil business goals and be presented to management in a more impactful way. Utilising business intelligence tools, HR teams can now forecast the ROI of their initiatives to prescribe the most effective course of action, whether for attracting new employees, retaining existing employees, or running initiatives internally to boost morale and drive sales. If the business wants to lower internal costs, HR teams can implement goals that back this up by employing increasingly effective strategies to retain more talent, thus lowering recruitment costs. Informed insight means informed decisions With the state of this technology as it is today, a proper HR analytics tool requires no major overhaul for a business. These tools simply pair with the best of breed systems an organisation already has and then creates a warehouse of data. No painful starting point. No need to be a data scientist. It is ‘drag and drop’ level easy with the massive upside of giving HR professionals unprecedented insight into the minds of their employees and thus the heart of their organisation. Workforce analytics tools help businesses to make better decisions, find hot spots, identify managers that are failing or excelling, identify employees to try and replicate, define programs that boost morale, and quickly quash initiatives, policies or other internal situations that are harming the happiness of the people. What can be uncovered with these tools is innumerable, but the simplest and most powerful outcome is preventing the loss of employees by leveraging employee data to make smart retention plans. After all, the largest unnecessary expense for a business is to lose good employees. If a company spends, on average, $100 per employee on retention, it makes sense that they would want to know who is actually most likely to quit, and who is most worth focussing the investment and time on retaining. This critical information helps to create and sharpen retention and engagement plans and forecast what costs could be saved as a result. Modern HR is backed up to the business HR teams now have the ability to be right there to back up business goals, attracting and retaining the best talent and consulting with the business on the best initiatives for employee satisfaction, even down to which policies could be replaced to retain more employees. Additionally, people analytics strategies allow HR departments to align measurable goals with business goals, provide actionable analytics to the right roles, suggest actions to improve the future, measure the impact of these actions, and report outcomes to the business. The benefit for the business is obvious; clear, predictive analytics to show the measurable business outcomes that can come from HR initiatives. For HR professionals, these tools not only allow them to work with more efficiency, but it also brings them into a new era where HR can stand as a strategic business partner, with tangible evidence to back up what they have known all along: happy people drive business forward. Brad Winsor, VP Workforce Analytics, SplashBI
Having just some uncertain ideas and a logo of your company is not enough to say that it is a brand strategy. To succeed one should have a written plan in details to gain results and understand what should be taken. 3 questions each brand should ask itself before planning any activity: Who are your clients? What is the message of your brand? How do you understand “success” in long-term perspective for your brand? Answering these questions, this initial step, will help you to define your goals, needs of your clients, methods of talking to them and the tools you will use to estimate your success. There is no one and only definition of brand strategy but generally it covers the following aspects: meaning of your brand; its promises; type of personality your brand broadcasts. So, to boost your revenue and promote your brand try online advertising network as example https://polus.media/ These moments are hardly trackable, but, nevertheless, very important. It becomes more evident when we start talking about brand’s mood. If we talk about big companies it is an often case to invite two different teams to develop each side of the brand, we don’t know why, but they do not often meet together and we may have contradicting results at the end. In some sense, one can say that brand strategy is relying on your intuition. We could add that it should be based on some data as well. Slogan of Rolex describes the situation most of all: it doesn’t tell time, it tells history. There is some history, brand developing in the video. Think what you can show in terms of: then and now. To discuss this example more, you may notice that there is a certain message from this brand. This part is very important to call correct motivation from your customers. Only after understanding the strategy of your brand you can make any marketing activities. However, we recommend waiting for a while and study your target audience. Here we mean to catch who your audience actually is. To draw a portrait of your customer you should include such factors like demography, marital status, type of work, where they go shopping, where they get news, which skills are necessary for work etc. After coming to conclusion you should think where these people mess around. We mean using online and offline areas. Sometimes, different location implies different means of communication. Of course, there is nothing better than to check what your competitors do. And here it is important not to copy them, but to show that you are different and why it is beneficial for your customers. Reasons why some brands may fail No seeing for long-term perspectives; Lack of work on brad’s uniqueness and its message; Lack of understanding the perfect clients; Incoherence in creativity; Obsolete methods or calls to such markets. All the things we discussed are so simple, but mystically so difficult. Anyway, the best thing you can do before working on your brand is thinking and analyzing and only after it some actions can be taken.
