Change has always been an inevitable part of life. In today’s workplace, change is highly-needed to keep the organisation abreast of the latest marketplace trends and survive the fierce business competition. The problem lies in the fact that transitioning through change is not an easy task to accomplish. As the process typically involves adapting to new styles of working, should fundamental business practices be touched upon to cite need for amendments?
Be it mergers and acquisitions, layoffs, downsizing, change is proven to be a great challenge for both employers and employees. Change in itself can be a scary thing. That being said, leaders are responsible to help employees cope with economic volatility and transition smoothly through periods of change. It is highly imperative for leaders to implement a smooth and seamless business transformation process, that will realign the workforce and business practices in sync with new strategies and objectives.
Regardless of the kind of change your organisation is planning to implement or going through, there remains some vital business practices that should not be played with, amended or even removed. Given the importance of these practices, you can only revise or update the points to make it current. Below are some of the most essential business practices that should not be amended:
See: Change Management and Talent Retention: Surviving Through M&A
Your recruitment effort is not complete yet on successfully fetching the best candidates to fill positions in an organisation. To build an effective team, you have to help the new hires fit in the new workplace culture and contribute actively to the company’s growth.
Onboarding programs play a pivotal role in ensuring that your new employees will be productive, happy, and engaged workers. More than just orientation, onboarding programs provide employers an opportunity to provide in-depth explanation about the company’s culture and way of conducts for new employees.
Keeping employees happy and healthy is amongst the top priority for most leaders. Hence companies today are offering various wellness initiatives as well as fostering healthy lifestyle at the workplace. The health benefits package might range from financial incentives such as rewards or insurance coverage, to free gym membership and healthy lunch voucher.
Not only physical health, more and more employees are paying attention to mental and emotional wellness too. Wellness initiative is vital practice for your company. When implemented right, wellness programs help lower absenteeism rate, reduce sickness-related costs, and boost productivity, while improving employee morale altogether.
Repeated absenteeism and lack of proper planning of employee leave policy is detrimental to productivity and overall business’ efficiency. Unexpected behaviour such as unauthorised absenteeism can be costly for organisations. When employers do not address such issues immediately, it could lead to more serious problems such as poor customer service, missing deadlines, delayed projects, and even cancellation of orders.
Therefore, every organisation should have good leave management policy, such that both employer and the employees can manage their leaves better. By monitoring employee’s absence, leaders can measure how this impacts and costs the business.
Top performers are keen for to scale up their skills and knowledge. The best method to retain talent and engage employees is by involving them in continuous training and mentoring programs. You should show that your company cares about employee advancement, by investing in providing necessary tools to help them develop both personal and professional growth.
There are copious reasons why you should never forget to emphasise on training and mentoring programs as your core business practice. These programs help support your organisation’s succession plan, reduce voluntary turnover rate, create higher job satisfaction, while improving talent retention rates.
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