HR impacts your business

It takes a different kind of company to invest in people development as much as product development.

                                                       —    S.C. Johnson & Son

Your goals for your company are clear: increased revenue, higher profits, more sales and business continuity. But are you doing all you can to reach these goals?

You could spend more on advertising, infrastructure and product development. But so can your competition, which limits the competitive advantage these efforts provide.

Research shows that an investment in effective HR practices can have a huge impact on your bottom line. Explore the links below to learn how effective HR practices can help you succeed.

 

Increase Productivity

For every unit increase on the HR practice scale...productivity rises 14%.

—   Luc Sels: How HR Practices Affect Small Business Performance

HR Prowess can help you establish HR practices designed to increase your employees' productivity. Good performance management systems link individual performance to company goals. This ensures that individual accomplishments contribute to the company's success.

It's important for employees to know what you expect from them. We'll show you how to use HR best practices, skills assessments and performance management solutions to reward top performers and create accountability. The result will be a team with one goal in mind — success.

Increase Revenue

A relationship with HR Prowess gives you more time to grow your business. But the opportunity to increase revenue doesn't end there — in fact, that's just the beginning.

Professional HR practices backed by great technological resources can boost employees' skill level. A skilled workforce is more productive, which leads to higher revenues. How much higher? It varies, but a University of Berkeley study found that businesses with formal HR practices had a 66% higher return on sales.

HR Prowess provides the resources to help you implement professional HR practices that drive financial success.

Increase Profitability

No company can afford not to use [HR] practices because they lead to vastly superior financial performance.

  —    Pfau and Kay: The Human Capital Edge

How much impact do employees have on your bottom line? Think about this — would it make a difference if everyone on your sales force generated as much business as your top performer? Or if all of your employees were as productive and service-oriented as your best worker?

In today's economy, people are the only real source of competitive advantage. If you develop your employees' skills and improve their motivation, you'll spark creativity and increase service quality. That leads to greater customer satisfaction. And greater customer satisfaction leads to financial success. HR Prowess can help you achieve these goals. 

Increase Business Longevity

Poor hiring decisions account for 30% of all business failures.            

                                    —    US Small Business Administration

High impact HR practices increase business value by improving productivity and increasing profits. But financial success now doesn't guarantee that your business will thrive in the future.

Here are two examples of practices that promote business longevity:

• Create a success cycle: Great recruiting and retention practices create a successful workforce. This attracts other top performers who continue your company's success.

• Reduce risk: Professional administration  reduces exposure to frivolous or unfounded or baseless lawsuits and non-compliance fines or penalties.