As the end of the year rapidly approaches and the new year looms larger, this is an ideal time to take steps that will allow your business to move smoothly into the upcoming year. Now is an ideal time to complete last year’s tasks, tie up loose ends, set new goals, and launch into the year with success.
Here are 5 steps to take right now to ensure your human resources needs and vision are set up for maximum success come January 1.
Remember, all the information in this blog post is published in good faith and for general information purpose only. I am not an attorney, nor do I provide legal advice. The information provided is my personal opinion and not that of any organization, business, company, agency or other individuals. The author is not liable for any losses or damages related to actions or failure to act related to the content of this article. If you need specific legal advice, consult with an attorney who specializes in your subject matter. Any action you take upon the information you find on this website (www.hrraw.com), is strictly at your own risk.
Penny Horton | December 17, 2019
- Wrap up end-of-year performance reviews.
If year-end performance reviews have not been completed, now is the time to finish them. Equip employees for success in the new year by setting clear expectations and achievable goals.
Ensure that every staff member has received their performance review feedback, including constructive input on the areas where they are performing well and areas where they have opportunities to improve. Set clear goals with each employee about what they would like to accomplish in the new year that will directly impact your company goals.
- Do an annual policy review.
It’s important to regularly assess company policies to be sure the business is fully in compliance with any new laws, such as Oklahoma’s medical marijuana regulations which went into effect in late 2019 and the DOL’s new overtime rule that goes into effect January 1, 2020. Remember to consider any regulations that may have changed at the federal, state and municipality levels, as well as changes that may affect your business’s particular industry, such as new agreements with unions.
Review the employee handbook and human resources policies, and make any necessary adjustments. Update job descriptions and new hire paperwork to reflect these new changes as well. Post new compliance posters (federal, state and local).
- Make sure new goals are ready to launch (after you have reviewed the old ones).
Vision setting is essential for keeping a business on track. It ensures everyone on staff knows what they are doing and why, as well as what success will look like.
First, review the past year’s goals. How well were they achieved? What still remains to be accomplished? Are these goals still relevant, and worth carrying over into the new year? Were you actually able to determine if they were achieved? Do they need to be set aside, or adapted?
Second, set new goals for the upcoming year. This includes not just envisioning the future, but also determining the staffing, budget, and processes needed to get there. Sharing the vision and getting buy-in now will make it more likely that the business will achieve its goals. A free Goal Setting Session Template is available through our website by signing up for our Exclusive Employer Content.
- Identify training dollars you want to spend to develop employees.
You have set goals and a new vision for the business, but how will you achieve them? Often, existing staff will need training in fresh techniques, new software or equipment that the business will be implementing. Now is a good time to consider the costs in time and budget that will be required to accomplish this training.
In addition, consider whether the budget has room to accommodate training opportunities that may come up during the year, such as community college courses in social media or other skills that employees might benefit from taking. By setting a clear training budget now, it will be easier to say yes (or no) to educational opportunities later.
A new year often means annual training will be due again, and if you update your policies, procedures or position expectations, don’t forget to train your staff and leaders on the changes!
- Forecast HR spending and staffing levels.
Planning ahead for human resources needs and budgeting is a smart approach for any business, particularly at the start of the year.
There are many HR expenditures that may go into effect in January, such as merit increases awarded at year-end performance reviews. In addition, bonuses awarded in December frequently get paid after the year-end close. It is wise to assess these amounts and ensure they are properly being paid out and are accounted for in the HR budget.
In addition, January is an ideal time to evaluate the business’s current staffing headcount and forecast what will be needed in the upcoming months. Whether you are anticipating growth, a tightening of the belt or attrition due to retirements or other actions, assess how many full-time and part-time employees you expect to need throughout the year. Don’t forget to consider areas where it may make sense to outsource work to freelancers, contractors, and vendors.
Assess and Plan HR Now to Make the Whole Year Run Smoothly
Planning for your HR needs at the start of the year is a smart move — and you don’t have to go it alone or struggle with finding the time and know-how to do it right. Who’s Your HR? is here to serve all your HR needs, from training and policy writing to consulting on how best to implement HR services and more. Contact us today to set up a FREE consultation.
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