Summary of How to Make HR a Competitive Advantage in Your Business | Samuel Tanios | #39

In the video titled "How to Make HR a Competitive Advantage in Your Business," Dave Lorenzo interviews Samuel Tanios, CEO of Human Elements Consulting, discussing the importance of HR in business. The conversation highlights the evolving role of HR beyond traditional functions like payroll, emphasizing its strategic importance in managing human capital as a key asset for organizations.

Main Financial Strategies and Business Trends Presented:

• HR as a Strategic Asset: HR should be viewed as a critical component of business strategy, akin to sales and marketing. The focus should be on maximizing the return on investment (ROI) from employees.
• Understanding Employment Branding: Businesses must recognize the importance of their employment brand and how it aligns with their overall branding. This includes monitoring reviews on platforms like Glassdoor.
• Continuous Recruitment: Companies should adopt a mindset of "always be recruiting," treating potential employees with the same care as customers.
• Leveraging Employee Referrals: Encouraging current employees to refer candidates can be an effective strategy for attracting qualified talent.
• Investing in Training and Development: Organizations should prioritize the continuous development of their employees, tracking certifications and skills to foster internal growth and retention.
• Adapting to Remote Work: The shift to remote work has expanded talent pools but also introduced complexities in management and compliance across different jurisdictions.
• Utilizing HR Technology and Analytics: The integration of analytics in HR processes can help businesses measure productivity and success, providing a competitive edge.

Methodology and Step-by-Step Guide:

• Building an Employment Brand:
  • Assess what working for the company looks like.
  • Address any negative reviews proactively.
• Recruiting Process:
  • Treat candidates with respect and prepare thoroughly for interviews.
  • Use current employees as advocates for recruitment.
• Onboarding Process:
  • Automate onboarding to ensure compliance and consistency.
  • Maintain a structured approach to onboarding to set new hires up for success.
• Training and Development:
  • Create a catalog of training opportunities and track certifications.
  • Regularly invest in employee development to enhance skills.

Presenters/Sources:

• Dave Lorenzo (Host)
• Samuel Tanios (CEO of Human Elements Consulting)

Notable Quotes

— 04:50 — « HR is not a quick fix. It is not something that you can just change in an instant; it's a freight train that needs to come to a full stop to turn it around. »

— 04:52 — « Learn how to interview and employ a potential employee. If you think you know how to do it and you've never been trained, I guarantee you are making a classic mistake after mistake after mistake. »

— 04:54 — « Know your numbers, know your metrics, know how much your employees cost you, total compensation, how much value they add to you, how much each investment you make in them brings back to you. »

— 48:18 — « You have to spend as much time and as much effort setting up the employee side of your business as you do the customer side of your business. »

Category

Business and Finance

Video