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4 HR Best Practices to Manage a Thriving Workforce in 2024

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Highlights

  • HR best practices guide HR teams as they navigate workplace challenges and come up with the best strategies to attract and retain talent.
  • Providing enticing employee benefits and keeping up with compliance requirements are two key areas to focus on this year.
  • OneSource is a Professional Employer Organization (PEO) helping businesses of all sizes handle payroll, compliance, benefits, and other HR tasks. Contact us to get started!

As we venture into a fresh year, businesses are preparing for growth. Ensuring that you have the best talent on board and keeping your employees motivated is crucial for success. But how can you make it happen? The secret lies in developing effective HR best practices.

With the right set of HR best practices, your HR team can gain clarity on how to make daily processes more efficient, define strategies to improve employee satisfaction, and maintain compliance.

To help you out, we’ve outlined the 4 essential HR best practices that you should keep an eye on this year.

Let’s dive in!

Attract Talent That Truly Connects with Your Company Culture

Finding the right people to join your team is crucial for any HR department. This not only means hiring skilled individuals, but also finding those who align with your company’s values and culture.

“Employees with a strong connection to their organization’s culture show higher levels of engagement.”
— Gallup

Job seekers are now looking for positive work environments that match their work style and ethics. So, how can you ensure your recruitment process is effectively attracting the talent you need? Here are a few tips:

  • Showcase your company culture in job ads. Let potential candidates know what your company stands for and what it values. Highlight your collaborative work environment, commitment to work-life balance, and opportunities for career growth.
  • Assess cultural fit through insightful questions. During the interview process, ask candidates to describe their ideal work environment, whether they like working independently or prefer team collaboration. By asking these questions, you can gain a deeper understanding of how well they align with your company’s culture and values.
  • Leverage social media for recruiting. Give your company website a fresh look and actively engage on social media platforms. Keep in mind that prospective candidates often research companies online before applying, so make sure to create a positive and memorable impression.

Extend an Enticing Benefits Package

Your employee benefits can seal the deal when it comes to candidates accepting a job offer.

“53% of employees would consider a job offer that offers improved benefits despite a lower salary.”
— AFLAC

Recent trends in employee benefits show that people are increasingly valuing companies that promote well-being and a healthier work-life balance.

If you want to secure skilled talent this year (and keep your existing employees happy), consider the following:

  • Understand your employee’s preferences and priorities. To craft an employee benefits package that resonates with your workforce, it’s key to understand their unique needs, preferences, and lifestyles. Surveys and discussions can provide insight into what your workforce values.
  • Provide family-focused benefits. Consider offering convenient on-site childcare facilities or nursing services to support your employees and their families.
  • Consider employees’ financial well-being. From providing assistance with retirement planning to offering student loan repayment programs and valuable financial education resources, you can help ease the burden of financial stress and empower your employees to achieve financial stability.
Learn Why Outsourcing Payroll Is One of the HR Best Practices for This Year

Keep up with Compliance Requirements to Protect Your Business

Keeping up with complex employment laws and regulations is crucial for any HR department.

Compliance requirements can vary across industries and encompass areas such as anti-corruption, IT security, and data protection. For small HR teams, staying on top of ever-changing legislation can be a daunting task. However, it is essential to do so in order to avoid costly fines and penalties.

Here are some strategies to approach compliance this year:

  • Provide regular training to your HR team. Empower your HR teams with the necessary knowledge and skills to navigate complex legal frameworks by hosting regular compliance training sessions. Not only should you provide in-house training, but also consider attending webinars, conferences, and local events to stay up-to-date.
  • Use HR software with built-in compliance features. Simplify your compliance efforts with an HR software solution that offers automated compliance checks and updates, reducing the manual effort required to stay compliant and minimizing the risk of oversights.
  • Keep policies and procedures updated. It’s crucial to keep your organization in the loop with the latest changes in labor laws. Take the time to regularly review and revise your employee handbook, ensuring that it accurately reflects the current legal landscape.

Save Resources and Costs by Outsourcing Your Payroll

Managing payroll can be a time-consuming task for small and medium-sized businesses (SMBs). From calculating wages to deducting benefits and applying taxes, it requires a lot of effort from your HR team.

However, there is a solution that can be a game-changer for your business. Outsourcing payroll can not only lighten the workload of your small team but also minimize the risk of errors — and the associated costs!

1 out of 3 companies pay tax-filing penalties each year 

Here’s how to ensure your payroll is handled efficiently and accurately this year:

  • Partner with a PEO. A PEO helps you alleviate the burden of administrative tasks while ensuring your business remains fully compliant.
  • Automate your process with payroll software. By doing so, you can reduce the chances of errors and ensure compliance with tax regulations.
  • Embrace automated solutions to track time and attendance. Keep detailed records of employees’ work hours with an error-free time-tracking system. Ensure a smooth operation by choosing software that seamlessly integrates with your payroll and HR software.

As workplace dynamics change, it is vital to reevaluate your HR best practices to ensure they meet employee expectations and align with your business goals.

Running a business and being an employer can be quite a challenge, as there are numerous responsibilities to juggle. For small or mid-sized businesses operating on a smaller scale and tighter budgets, embracing technology to automate day-to-day operations or collaborating with a strategic partner to manage essential HR tasks can have a very positive impact.

One Source is a PEO that helps businesses handle multiple HR functions, including payroll processing, benefits administration, and compliance.

Contact us to discover how we can make your daily HR tasks a breeze, while staying ahead with HR best practices.

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