Personalized HR: Is Your Company (and Employees) Missing Out?

Oct 05, 2017
| Michael Altiero
Personalized HR for Companies and Employees

Human resources is a constantly changing business function. From new laws and regulations, to the rise of a younger workforce and the ever-changing expectations of employees, HR has a lot to keep up with. This is one of the prevailing reasons why many companies are looking to outsource parts of their HR.

One of the fastest growing trends in human resources – which companies have had to adapt to – is the increasing importance of personalized HR. As the world in which we live in has become more customizable, employees have come to expect some degree of personalization and customization when it comes to various aspects of their professional lives.

Companies who are ahead of the curve have already made the switch with their HR practices to address personalization. This is especially true for benefits, employee engagement, and L&D. And these are the same companies who are routinely listed among the best employers to work for by companies such as Glassdoor.

Let’s take a look at a few areas within HR that have been most affected by personalization.
 

1) Learning and Development

Today’s employees have much different expectations than in previous years. One area that has really grown in importance to both current and potential employees is learning and development. And one thing really does hold true for L&D: a one size fits all approach doesn’t work well for personal development.

This is why more and more organizations have been moving to personalized L&D and training programs for their employees. Businesses who approach training and development with a personalized touch can tailor their programs by an employee’s department, skill-set, and interests. This leads to higher participation, and a greater likelihood of employee development.

Personalization and customization doesn’t just apply to L&D after an employee starts at a new company. Today, it can begin on a new hire’s first day with their onboarding program. A recent Oracle survey found that only 41% new employees believe their company’s onboarding system set them up for success.

Offering an onboarding program and experience that is unique to each new hire is critical for businesses today. Not only will it help set your new workers up for success in their roles, but it will also benefit the business as a whole (and decrease the likelihood of employee turnover!).
 

2) Employee Benefits

It comes as no surprise to HR managers and business leaders that employee benefits are important. They make up a significant part of an employee’s compensation plan, and could determine whether or not a potential hire accepts a position. However, much like learning and development, benefits aren’t the same to every employee.

The benefits that employees value most have been gradually changing over the last two decades. To match these changes, some companies have begun to offer customizable benefits to suit the individual needs of their workforce. This is incredibly valuable to current and potential employees, as they have started to expect at least some personalization with their benefit offerings.

The thing to keep in mind is that personalized benefits don’t just mean healthcare and insurance. While these are very important, there are other benefits that employees want to customize to some degree. Some examples include:
 
  • Life Insurance
  • Dental and Vision Insurance
  • Legal Assistance Programs
  • Employee Assistance Programs (EAPs)
  • Savings Plans

Allowing some flexibility and personalization with your benefit offerings could go a long way to attracting top talent and keeping current employees happy and productive. Which leads us to the next advantage of personalized HR…
 

3) Employee Engagement and Happiness

All companies should make increasing employee engagement and happiness a top priority. Not only does it lead to lower turnover, but engaged employees are also more productive and have higher performance. As we have already discussed in this article, offering personalized HR solutions to your workforce can be the perfect way to increase engagement and happiness.

It’s also worth mentioning that personalized HR can be a great selling point for your recruiting and employer branding efforts. We have written before how engaged employees are the backbone of a great employer brand, so offering customizable HR solutions can have more than one positive impact on your business.

Additionally, tailored and personalized L&D programs can help to build employee engagement. Improving employee engagement and experiences while at work are two of the biggest reasons why companies are taking the steps to offer personalized HR solutions today.
 

Personalized HR is Here. Are You Prepared?

As we move closer to the end of 2017, more and more companies are moving to a personalized HR model. While you may think that only larger organizations can take advantage, that isn’t the case. Small businesses can also offer customizable L&D and benefit programs, especially through strategic partnerships. Don’t get left behind as 2018 approaches.

Want to learn more about PEOs? Check out our eBook, How Well Do You Know PEO? This eBook provides an overview of the PEO industry as well as helpful information for brokers and employers!
 
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