Those that work within a business development function have understood for a long time the power of networking. It helps to develop relationships with suppliers and prospect companies and helps build awareness of a company's brand.
It can lead to increased custom and brand loyalty. But have you ever considered how it might assist you as a business to develop and improve your people practices and to help ensure that you are keeping in line with local competition?
There are many benefits to be had from HR professionals and managers in networking with their counterparts in other local businesses, or within specific industry sectors. It can help
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to improve company policies and procedures
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to improve or review staff benefits
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to ensure pay levels are appropriate
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by providing companies the opportunity to swap and share information and best practice
Complex problems
Why reinvent the wheel or struggle when dealing with a complex problem when, through your network of contacts, you could have the answer at your fingertips.
A local networking group, HR LinkUp, is helping local businesses develop such opportunities by bringing together on a regular basis a group of professionals with the aim of helping and supporting one another.
Confidential environment
It works by providing a confidential environment for the exchange of information. Meetings are further supported by having a range of speakers on topical subjects such as employment legislation, psychometric testing etc. By meeting on a regular basis a level of trust and confidence is built up within the group, which encourages the frank and open exchange of ideas and helping to find solutions to resolve problems.
The aims of such a group are to aid businesses by assisting with:
Policy development
Ever tried to develop a diversity policy from scratch or attempted to set up and design a performance management system? Well through your local networking group you have the facilities to obtain documentation from other similar businesses and use this information to develop your own. Your policies will therefore be developed based on best practice and with a knowledge of what other businesses are doing.
Benchmarking
By comparing your policies, pay levels and turnover figures with other local companies you can gain a better understanding of how well you are performing and whether you have any areas in need of development and improvement.
Pay rates
Members contribute their pay data which is then collated and distributed within the group. The names of specific companies and, of course, individuals are removed but it helps to provide an overview of rates of pay for specific job functions, industry types and geographical region. You will have a much better method of keeping on top of local salary rates than relying on employees coming to you with newspaper adverts showing jobs with higher salaries!
Employment Legislation
Regular presentations by employment law solicitors at such events can help ensure that your knowledge of case law and legislation remains up-to-date.
Knowledge sharing
Providing the opportunity to share experiences and the practical resolution of problems can assist far more than reading a text book or searching the web. It allows you to work with those that have dealt with similar issues and to benefit from their experiences, whether good or bad.
Sourcing suppliers
Finding reliable and effective suppliers of services can be difficult. It is easy to source them from the Internet and business publications but how do you know that their approach and delivery of services fits with your culture and environment?
How do you know that they can deliver what they promise? If a supplier is referred to you by somebody that you trust you can guarantee a good service, as well as have the opportunity to sound out their suitability for the specific demands of your business.
Don't overlook the opportunity of working with other businesses in developing your approach to people management. It may well result in more robust practices that have been tried and tested.
If you would like to know about your nearest networking group then give Jo Johnson a call on 01438 341303 or email joanne.johnson@hrinitiatives.co.uk to find out more.