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HR innovation strategies

 Companies perennially struggle with various human resource issues: finding employees willing to work at relatively low rates of compensation, providing growth opportunities for employees, retaining talent, especially in middle management, providing clearly defined roles and tasks to employees, etc. All of these factors can lead to high attrition and increase the cost of acquiring and training new employees. It thus becomes critical to think out-of-the-box and try a variety of innovative strategies, such as the following:

Enhance the credibility of the organization through brand building. It is easier for companies to retain employees if they have established a positive brand. The goal is for employees to feel a sense of pride and recognition by associating themselves with such organizations.

Providing opportunities for personal growth. To attract and retain talented employees, some companies create opportunities for their employees to take courses and participate in conferences, workshops and sponsorships. Further learning improves morale and performance.

Creating a sense of ownership among employees through participation in decision making, Some organizations cultivate a sense of ownership in their employees by giving them freedom to choose a specific project or issue, permitting flexible timings of work, inviting them to participate in decision-making, providing support to employees to start new ventures, and encouraging employees to work in other organizations and get more hands-on experience to develop new skills they can use in subsequent work.

Creating entrepreneurial opportunities within the organization. An innovative practice of some companies is to create entrepreneurial opportunities within the organization. Employees are given the freedom to execute projects as entrepreneurs. This brings out their creativity and enables them to try new things, which, in turn, encourages them to set higher goals. In some cases, the freedom afforded these employees is enough to enable and empower them to work on multiple projects and issues at the same time - something they would not have been able to do in a structured job.

Attracting employees to a serene lifestyle in peaceful and scenic location. Obviously, this is a huge appeal of golf clubs, which are almost invariably located in picturesque settings. Some people find great appeal in working in a setting of scenic beauty; the goal for managers is the cultivate this affinity by build a form of family relationship between staff, golfers, and guests—since all are attracted to the golf lifestyle.

Providing attractive fringe benefits to employees. Some organizations provide various fringe benefits, such as support for employees to pursue studies, flex time, etc. Be creative with options other than those that have fiscal consequences. Ask your staff what they want; their answers may surprise you.

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