Outsourcing is a strategy that has been delivering results for those that have implemented it. This approach has reduced costs, increased revenues, and has enabled foreign-owned companies to tap into a wider talent pool regardless of their location. The organizations that managed to recruit the most talented employees are those that implement HR best practices. This has enabled them to not only attract, but also retain skilled people.
If you’re planning to outsource to countries like the Philippines, you need to employ HR best practices. Doing so provides you with an advantage over your competitors who are trying to get the services of the same talent pool.
Recognition and Rewards
One of the HR best practices that many companies implement is recognizing and rewarding their employees. This approach shows that you appreciate and acknowledge the contributions of employees to the success of your organization. This keeps them engaged and motivated to not only deliver baseline performance but also go the extra mile. Recognized and appreciated employees are unlikely to leave your company. This lowers your turnover rate and creates a perception that your organization is a great place to work in. Positive employee reviews enable you to attract top talent and give you an edge over your competitors. Establish performance metrics so that employees earn the recognition and rewards you give them. Monitor their numbers so that they consistently perform at the standards you want.
Offer a Competitive Compensation Package
Outsourcing provides your company with several advantages; however, this strategy won’t work if you don’t hire top talent to deliver the results you want. To achieve this objective, provide your would-be employees with a competitive compensation package they can’t refuse. Learn more about the market rate for available positions in your organization. You’d want to have an idea of what your competitors are offering so you can improve yours and hire the right people. Sometimes the increase shouldn’t be just about numbers, it’s also about adding other incentives to hire new employees or convince existing ones to stay. You can offer profit sharing, additional vacation days, and/or discounts on company products and services. Base your compensation package depending on the credentials of a potential or current employee. Train hiring managers to communicate your company’s compensation package effectively.
Foster a Culture of Knowledge Sharing
Knowledge sharing is a process that empowers your workforce. This creates a culture of skills and information sharing within teams. This approach increases the camaraderie and teamwork in the workplace. It keeps employees engaged and involved in their tasks. This mutual support among your employees enables them to improve and hone their skills. It reduces or (in some cases) eliminates the need for support training. It also encourages self-learning that enables each employee to become an expert in their field. Create and implement a knowledge sharing process that your employees can follow. This makes it easier for them to share information and expertise with their colleagues. It also enables your management team to monitor their progress and accomplishments.
Be a Compliant Employer
Compliance is of utmost importance to companies. If they don’t comply with labor policies and laws, they might face legal problems and incur penalties. Make sure your organization complies with local laws and regulations. Consider hiring an in-house lawyer or outsourcing some of your legal tasks to a service provider. Your legal team can review your human resource policies before you implement them. This ensures that each policy you create follows regulations. They can also update your management team and employees about their labor rights.
Regular Training Programs
One of the HR best practices you can implement is to upskill your employees through training programs. Your employees want to know if management is invested in their growth in the organization. Provide them with the tools and certifications they need to do their jobs well. Look for programs that match their skills and provide them with the time and resources they need to complete it. These training programs can be in-house or through specific skills academies, seminars, or conferences. The certifications and new skills your employees acquire provide you with a competitive advantage. They will also be able to concoct creative solutions and strategies for the problems your company encounters.
The Importance of Transparency
Transparency is a deal breaker for some employees. They might not agree with the strategies and policies of your organization, but they would like to know before you implement them. This provides them with enough time to adjust or seek more information about the changes you’d like to make. Openness is also important when you want to discuss company milestones and achievements and failures that your organization has encountered. Being transparent creates a culture of trust and honesty in your company.
Flexible Schedule
The pandemic has opened different possibilities on how employees do their work and perform up to the standards of their employers. Many companies have returned to full operations, but others have maintained a flexible schedule for their employees. This is a strategy you can implement for your own company. Flexibility is a non-money related advantage you can provide your current or possible employees. They have lives, relationships, hobbies, and passions outside their job descriptions. They want to have time to pursue this while meeting the standards and performance indicators you established.
Keep Your Team Engaged
The HR best practices you implement should include keeping your employees engaged and motivated. An employee that’s about to leave will show signs of disengagement. Some of these include they no longer participate in company activities (if they are active before), they do the bare minimum to get by, they are frequently tardy or absent, and they don’t communicate during meetings or one-on-one sessions. Listen to your employees to keep their motivation and engagement high. Request for feedback to do better, seek their opinions and ideas for problems and opportunities that your company encounters, promote or give raises to those that deserve it, and offer a competitive compensation package.
These HR best practices allow you to build a local team that delivers the results you want. Outsourcing is a proven strategy that enables your company to grow and boost profits. If ever you need assistance in establishing a business identity in the Philippines, we at Manila Bookkeepers can be your partner. Our team of experts can assist you throughout the process. Learn more about our services through www.ManilaBookkeepers.com.
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