7 Ways HR Contributes to Your 2024 Business Strategy

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Reach company goals and build a better workplace by understanding 7 ways HR contributes to your 2024 business strategy.

Formulating a business strategy is crucial, but making it work is a whole different challenge. Without solid implementation plans, you might just end up where you started after wasting time and resources. 

That’s where your Human Resources (HR) team comes in. It knows your organization inside out. Their unique understanding of the workforce, company culture, and business operations makes them essential in bringing your strategy to life. 

Sadly, most organizations view HR as merely a support function, missing out on the wealth of strategic contributions it can offer. In this article, I will explore seven ways HR contributes to your business strategy, driving growth and success. 

Ways HR Contributes to Your Business Strategy

While it may not be evident, HR serves a crucial role in shaping and executing your business strategy. Here are some ways HR contributes to your business strategy in 2024.

1. Aligns Organization’s Values and Vision to Business Strategy

Misalignment between your strategy and your organization’s vision and values can cause a disconnect that can affect your business goals.

Luckily, HR acts as a bridge between your business strategy and organizational values, preventing confusion. Here’s how HR ensures this alignment.

• Cultural integration:– Since HR professionals understand and cultivate the organizational culture, they integrate these elements into the strategic planning process.
• Stakeholder alignment: HR collaborates with key stakeholders to gain insights into their expectations. This way, they can ensure their plans reflect the organization’s shared values and vision.

2. Attracts and Retains Top Talent

HR is responsible for attracting and hiring a dedicated and talented team that aligns with the organization’s strategic goals. 

But that is not all. 

According to the BLS, the average number of years employees stay in an organization is 4.1 years. So, besides recruiting, HR implements strategies to ensure your organization retains the best talent.

An HR virtual assistant can help streamline these processes, offering efficient solutions for talent acquisition, onboarding, and ongoing employee engagement.

Here are some ways HR contributes to your business strategy through innovative hiring and retention strategies.

• Strategic recruitment: HR creates targeted recruitment campaigns and utilizes professional networks to attract the right talent. For instance, HR can build a personal brand on LinkedIn to increase your organization’s credibility.

Here is a business with a compelling LinkedIn profile. 

Image via LinkedIn

Image via LinkedIn

• Employer branding: Building a strong employer brand helps attract top talent. HR attracts talented candidates and encourages retention by showcasing the company’s culture, values, and opportunities for growth on social media channels.
• Invest on tools: Investing on tools such as logiciel call center help improve productivity of your team.

3. Promotes Employee Engagement and Productivity

Organizational changes can cause employee fatigue and affect productivity. HR helps manage this transition by prioritizing employee needs and addressing their concerns. 

A workforce that feels supported and valued is more likely to contribute positively to your organization’s strategic objectives. In fact, a 2022 Gartner report shows that 53% of HR professionals prioritize change management.

Gallup’s State of the Global Workplace 2023 Report shows that engagement reached 23% worldwide in 2022.

Image via Gallup

HR contributes to designing and implementing programs that promote a healthy work-life balance and enhance employee engagement and productivity. You can read  Attrock expert guide to know how to increase employee productivity in your organization.

Here are several ways HR contributes to your business by boosting employee engagement and productivity.

• Flexible work arrangements: HR policies that support flexible work arrangements contribute to employee satisfaction and productivity.
• Involving employees in decision-making: Involving employees in decision-making processes empowers them and fosters a sense of ownership in the company’s success.
• Recognition and rewards programs: Recognizing achievements boosts morale and reinforces a positive work culture, motivating employees to contribute their best to the company.

4. Facilitates Employee Development and Training

A Statista study shows that leadership and management was the most important aspect of development training in 2022. 

Image via Statista

However, another survey highlights that lack of time was hindering workplace training from reaching its full potential.

HR professionals collaborate with top management to understand the company’s strategic goals. They align the workforce with these goals by identifying critical skills, competencies, and roles necessary for success.

HR then develops and implements training programs to prepare employees for their evolving roles within the business strategy.

This ensures the workforce can quickly adapt to the organization’s business strategy and evolving operations.

Here are several ways HR contributes to your 2024 business strategy through employee development and training.

• Technology adoption training: HR ensures employees are proficient in the latest tools and technologies through targeted training initiatives.
• Cross-functional training: HR facilitates cross-functional training to help employees gain insights into different aspects of the organization. 

5. Plans Leadership and Succession

Your organization needs reliable and skilled leadership to actualize your business strategy. 

HR identifies and develops leaders within the organization who can champion the business strategy. Here are a few aspects that HR prioritizes when choosing leaders.

• Leadership training programs: HR implements organization training and development programs to hone the essential skills required for effective leadership.
• Succession planning: HR eliminates leadership vacuums by identifying and grooming potential successors for key leadership positions.

6. Promotes Diversity, Equity and Inclusion 

According to Pew Research Center, around 56% of workers say that increasing Diversity, Equity and Inclusion is a good thing.

Image via Pew Research Center

HR is at the forefront of driving diversity, equity, and inclusion. By fostering a diverse and inclusive workplace, HR contributes to social responsibility and enhances innovation and creativity.

These initiatives align with the broader business strategy, reflecting a commitment to building a workplace that embraces inclusive leadership.

Here are several ways HR contributes to your business strategy by promoting diversity, equity, and inclusion.

• Diverse talent development: HR provides equal opportunities for career development and advancement for employees from all backgrounds.
• Inclusive policies and practices: HR reviews and updates policies to ensure they are inclusive and considerate of diverse needs.

7. Capitalizes on Strategic Workforce Planning

HR professionals ensure the organization has the right talent in the ideal roles at the right time. 

Companies can address skill gaps and foster a more resilient workforce by aligning their HR practices with the overall business strategy. 

Let’s look at various ways HR contributes to your 2024 business strategy through strategic workforce planning. 

• Talent alignment: HR professionals work closely with business leaders to understand the company’s strategic objectives. They identify the essential skills and competencies required to achieve these objectives.
• Anticipating staffing needs: HR analyzes trends in the industry and within the organization to predict shifts in workforce needs. By using LinkedIn analytics, HR gains valuable insights into emerging skills and expertise in the job market. 

Final Thoughts 

HR has evolved beyond its traditional administrative functions to become a strategic partner that drives organizational success. There are 7 ways HR contributes to your 2024 business strategy, including ensuring the right people are in place and fostering a positive work environment. 

As businesses face future challenges and opportunities, partnering with HR will be crucial for achieving and sustaining long-term growth.