Human resources are a key factor for businesses to approach success and strength. Depending on the internal factor of each business or organization, the ratio of capital investment to resources will be different.

In this week's article, Farovietnam will suggest to businesses the most optimal method to maximize resources.

Recruitment strategy

One of the most important elements of any business is its recruitment, attraction and retention strategy because human resources will affect the operating system, the operation and development of businesses.

In addition to recruiting and finding qualified human resources, retaining employees is a key factor for the stable development of the business because they will take advantage of their skills and practical experience to create assets and profits for the business. Therefore, to reach long-term development and human resources optimization, businesses should ensure to take advantage of these factors.

Training and development strategy

This is one of the top factors which satisfy employees' demand to learn and accumulate knowledge for career promotion. If the business does not pay attention to this aspect, it will give employees less career prospects and  increase leave and job hopping ratio. Therefore, enterprises should organize internal training courses for their employees in various forms with reasonable costs or use training and consulting services from the hr company.

Salary and compensation strategy

In order to maximize the efficiency of resources, enterprises cannot ignore the salary, bonus and remuneration system. Enterprises should determine the criteria for performance bonuses, business bonuses and have a performance management system to evaluate human resources to get an appropriate salary and bonus regime. Once there is a proper compensation and benefits system, it will both save costs and help retain talent effectively.

Labor relations strategy

Labor relations will be related to factors of the working environment, corporate culture and employee life. In order to have a methodical strategy and maximize human capital investment, businesses should clearly define what their competitive advantage is and then take advantage of it and develop core competencies. Companies with strong corporate culture, for example,  should continue to promote that while improving the working environment to increase employee satisfaction thereby promoting performance productivity.

Using outsourced services in human resource management

If businesses are stucking in challenge of human resource management, it is necessary to make use of the assistance of outsourced services. Currently, outsourcing service is considered an effective business method that many businesses choose.

In particular, outsourcing services benefits in many aspects for businesses, especially improving competitiveness in the context of the cut and thrust of business, which requires businesses to maintain the orientation as well as change the business strategy from time to time in order to overcome competitors, optimize costs and improve labor productivity, which outsourced service does that well.

In addition, due to the fact that the onus of this service is transferring a part of production and business functions, including human and physical assets, to an outside service provider who specializes in that field, this service will include tasks such as outsourcing recruitment, senior recruitment, human resource supply and hiring, payroll and training. Depending on the requirements and budget, businesses choose different outsourcing service packages.

Hopefully, through this article, businesses can approach a direction in maximizing resources effectively. For any questions about outsourcing and recruiting services, please contact the hotline.