BUSINESS

How HR Business Partners (HRBP) is Helping Businesses Adjust to the New Normal?

Almost every industry has taken a financial jolt due to the Covid-19 pandemic. Some businesses are on the verge of closing their business dealings, and some have shut them down completely. Every business, irrespective of its size, is facing the effect of financial burden.

Veem, a payment network with a global presence, conducted a survey in the USA on small companies. The survey revealed that 81% of the companies are expecting the effects of a pandemic on their business in the coming 12-16 months. The survey also unveiled that 90% of these companies are bracing for a fiscal slowdown.

Additionally, 87% of smaller business houses are preparing for the possible economic slowdown. Most of the respondents have applied for loans, and they are curtailing the operational costs.

The current Covid crisis compelled the companies to have their staff work from home. But here comes the role of your HR team, and are they prepared for this new normal work routine. If not, we still have options for HR Business Partners who have come to the rescue of many businesses during this crisis situation. 

Understanding the Human Resource Business Partner (HRBP)

Since its inception in the 1990s, the model of Human Resource Business Partner (HRBP) has transformed several times. It adds value to the business by incorporating human resources in every aspect of business operations and strategic planning. HRBP provides a chance to small business organizations by administering competitive advantages without incurring additional costs.

Integration of an HRBP with an organization starts with a question: What are the objectives of the organization? To get the answer, the HRBP must understand the motive and challenges influencing them.

After understanding and analyzing these challenges, the HRBP provides suitable solutions. They do this by finding out the correct data, putting them together, and checking the presumptions. Their expertise in acquiring talent, retaining employees, compliance with the federal laws, and application of technology helps the organization in strategic decision making.

Here are some of the benefits of incorporating an HR Business Partner with an organization:

  • HRBP are experts in the related field, and their experience and expertise benefit an organization. HRBP enhances professional expertise that an organization does not have. A business can specialize in certain services but does not specialize in every field. Having an HRBP will yield the advantage of proficient supervision in resolving complex business issues.
  • Another benefit to the organization is that it can hand over the non-core activities of daily management to the experts.
  • You can manage and tranquilize the risk more efficiently with the help of an HR business partner.

There are several more benefits of choosing a correct HR Business Partner. However, choosing an inappropriate one will have an enormous negative effect on your business. It is necessary to make a wise decision on choosing a Human Resource Business Partner for your organization because it adds value to your business.

Collaborating with HRBP to Overcome the Hurdles of Remote Employment

With the introduction of remote employment, the organizations are emphasizing virtual onboarding, cost curtailing, and HR compliance. The human resource team is responsible for sustaining business activities, like acquiring new talents, supporting the decision on recruitments, and helping in the continuation of transformation in the organization.

A survey by SHRM reveals that around 69% of employees are ready to stay for more than three years with companies that have a great onboarding experience.

The onboarding process is needed significantly for remote employment. The absence of this process will cause an impact on the organization. There are chances of losing the new employees and being unable to retain the older ones. The need for virtual onboarding is as necessary as it was never before. Hiring a full-time, in-house human resource manager will cost the company.

An alternate way to meet the need of the hour without incurring extra cost is collaborating with Human Resource Service Providers. The service of HRBP will withdraw your core workload, and you can concentrate on strategic decision-making. Therefore, businesses are eyeing to get the services of these HR business partners who are skilled in human resource planning and management. They are proven experts in HR and Compliance Procedures.

HRBP – Need of the Hour

Human Resource Business Partners are very professional and experienced service providers. They provide seamless virtual onboarding knowledge to the new talents of the organization. They handle almost all the activities involved in the hiring, working, and retiring of an employee. A hassle-free and effective virtual onboarding of recruits provides a motivated workforce to the organization.

The HR business partners are experts in using technology. They use the latest technologies available to provide a digital platform to the onboarding recruits. They offer their support and guidance in completing digital Form I-9s to remote employees. They help in the collection of documents, managing workforce documentation across the world, and keeping up with federal regulations.

To ensure organizational success, you must integrate with HRBP and make it an integral part of our organization.