Human resources (HR) is a crucial department for any business, responsible for managing the company’s most valuable asset: its people. HR’s responsibilities are diverse, ranging from talent management to compliance and workplace safety. This article will explore the top five HR functions and discuss what an HR team needs to be successful.
1. Talent Management: Building and Developing Your Company’s Workforce
Talent management is a critical HR function that focuses on recruiting, hiring, developing, engaging, and retaining employees. This team requires a combination of hard skills, such as data management and attention to detail, and soft skills to effectively manage the hiring process from start to finish. Key responsibilities of talent management include:
- Collaborating with internal hiring managers to identify gaps, create hiring timelines, and set compensation package budgets.
- Writing job descriptions that accurately reflect the role and its requirements.
- Managing the entire hiring process, from sourcing candidates to conducting interviews and making job offers.
- Developing and implementing employee development programs to improve skills and enhance employee engagement.
2. Compensation and Benefits Administration: Attracting and Retaining Top Talent
Compensation and benefits administration is another essential HR function that focuses on attracting and retaining top talent by offering competitive compensation packages and benefits. This team requires a strong understanding of market trends, legal requirements, and best practices to ensure that the company’s compensation and benefits offerings are competitive and compliant. Key responsibilities of compensation and benefits administration include:
- Developing and implementing compensation strategies that align with the company’s business goals and budget.
- Designing and administering benefits programs that meet the needs of employees and comply with legal requirements.
- Managing the annual compensation review process, including salary increases and bonuses.
- Ensuring compliance with legal requirements related to compensation and benefits, such as equal pay laws and Affordable Care Act (ACA) regulations.
3. HR Compliance: Ensuring Legal and Regulatory Compliance
HR compliance is a critical function that focuses on ensuring that the company complies with all relevant laws and regulations related to employment, benefits, and workplace safety. This team requires a deep understanding of legal requirements and best practices to ensure that the company’s HR policies and practices are compliant and effective. Key responsibilities of HR compliance include:
- Developing and updating the employee handbook to ensure compliance with legal requirements and best practices.
- Conducting regular audits of HR policies and practices to identify areas of non-compliance and develop action plans to address them.
- Providing training and guidance to managers and employees on HR policies and practices to ensure compliance.
- Managing employee relations issues, such as discrimination and harassment complaints, to ensure compliance with legal requirements and best practices.
4. Employee Relations: Building Positive Employee Relationships
Employee relations is a critical HR function that focuses on building positive employee relationships and fostering a positive workplace culture. This team requires strong interpersonal skills and a deep understanding of employee needs and concerns to effectively manage employee relations issues and promote a positive workplace culture. Key responsibilities of employee relations include:
- Developing and implementing employee engagement strategies that promote a positive workplace culture and improve employee satisfaction.
- Managing employee relations issues, such as performance management and disciplinary actions, to ensure compliance with legal requirements and best practices.
- Providing guidance and support to managers and employees on HR policies and practices to ensure compliance and promote positive employee relationships.
- Conducting regular employee surveys to gather feedback on workplace culture and employee satisfaction and develop action plans to address areas of concern.
5. Workplace Safety: Ensuring a Safe and Healthy Workplace
Workplace safety is a critical HR function that focuses on ensuring a safe and healthy workplace for all employees. This team requires a deep understanding of workplace safety regulations and best practices to ensure that the company’s workplace safety policies and practices are effective and compliant. Key responsibilities of workplace safety include:
- Developing and implementing workplace safety policies and procedures that comply with legal requirements and best practices.
- Conducting regular workplace safety audits to identify areas of non-compliance and develop action plans to address them.
- Providing training and guidance to managers and employees on workplace safety policies and practices to ensure compliance.
- Managing workplace safety incidents, such as accidents and injuries, to ensure compliance with legal requirements and best practices.
Streamlining HR with Paycor’s HR Software
Effective HR management requires a lot of cross-over between these five main functions. Even for a skilled team, managing all these moving parts can be challenging. That’s where Paycor’s suite of HR software comes in. Paycor’s tools empower leaders to support every stage of the employee life cycle, from hire to retire, streamlining HR processes and enabling HR teams to focus on what they do best: managing the company’s most valuable asset: its people.