At ProspHR Solutions, we provide exceptional HR consultancy that enables your business to optimise its people resources for maximum productivity. Essential for those businesses going through a growth phase, a people strategy will not only support you in attracting the right candidates, it will also help you utilise those individuals within your business in the right way. The result will be delivered through increased productivity, energy, motivation and engagement.
In this article, we explore the benefits in more detail.
1. Attracting the people your business needs to grow.
One of the biggest challenges any growing business will face today is the increased competition for talent in the marketplace. Reaching the point where additional resources or new skills are needed is often too late. Your business needs to have a clear vision of the skills it will need to recruit over the next 2-3 years in order to stay ahead of the game.
A people strategy that predicts the skill gaps that will appear as the company grows, presents an opportunity for the company to ‘grow their own’ skills through training and personal development of their teams. This removes the pain, and potential cost, of recruiting externally.
2. Retaining key talent for the years to come.
People are likely to be your most expensive and valuable fixed assets. It’s essential that you invest in them. Not only will this grow the skills and knowledge needed by the company in the future but it’s a key component to help retain them. Recruitment is a drain on time and finances, and the loss of talented, highly-valued team members will hit morale too.
A people strategy that has a focus on personal development, recognising achievements and building the right culture aligned with the company values, will help you to build loyal and motivated teams. It will take more than a higher salary for your competitors to tempt away your best team members.
3. Unlocking productivity and boosting performance.
A phase of growth will often impact productivity, which could slow it down. A people strategy can help to combat inefficiencies and even help to accelerate performance if well planned. By matching employees to the right roles, they are more likely to be productive and motivated, fully understanding how their work contributes to the company’s goals and long-term growth aspirations. There is a boost to individual, team and company performance as well as development in the company culture.
Companies can also become better equipped to respond to market changes, helping them keep ahead of the competition.
Why every SME needs a people strategy to grow their business.
Investing in a comprehensive people strategy is a key component to sustainable growth, not simply a nice-to-have. In our decades of experience, we see companies that don’t equate good people management with good financial sense. In reality, the two go hand in hand and the ones who prioritise their people strategy often achieve bigger growth, quicker.
If your company is in growth mode without a people strategy, book a Prosperity Call today. Enable ProspHR Solutions to help you unlock the true potential in your people and maximise the capability of your teams. Contact us today at helpmybusinessthrive@prosphrsolutions.com or call on 0345 548 2124.
