Banking and Financial services are two of the most important verticals that contribute to the GDP growth of a nation. Recruiting the right candidates and counselling them on an individual basis for their career in one these fields, is a hectic task for sure. Impartially, anyone can ask HR Advisory service providers who sweat it out to manage client retention & compete as the best ‘Advisory’ for candidates at the same time, how do they manage?
Industrial practices show that there are 5 reasons why business owners prefer HR Advisory services. Primarily, HR Advisory service providers aim to deliver effective solutions to HR department of hiring companies.
They assist companies to revamp HR management systems and practices; maintain consistency with both the company’s requirements and its international partners. Now, coming back to the 5 most essential facts that lead to the hiring of HR Advisory services from an external source are mentioned below:
1) Improved HR management system that is aligned to the environment, needs and culture of the company.
2) HR policies and strategies are clearly defined.
3) HR departments tend to be smarter in adopting international practices than before.
4) 360 review system and performance appraisal system enhancing work performance.
5) Improved reward strategies, payroll system.
Apart from these, companies can always benefit if the outsourcing HR Advisory has:
1) Strong Knowledge Management skills.
2) Large amount of vacancies closed.
3) Strong Team of HR professionals.
4) Leader in all kinds of Hiring, especially Leadership.
5) 100% Client retention and business partners with maximum clientele.
Recruitment and counselling goes hand in hand for most companies. While a client gains an employee, HR Advisory providers gain loyalty from both the client and employee. It is a win-win situation for HR counsellors if practiced in the most ethical manner.
A group of dedicated consultants working closely with the client’s Human Resource and Finance departments ensure co-operation in all aspects of employee welfare that deals with working conditions and resources at workplace. A well-organized and responsive welfare program help employees to meet their professional and personal needs effectively. A good HR Advisory also looks after the health, social security and safety of employees. They also provide trainings and education related to respective designations and establish peaceful relationship between employees to reinforce a better working environment. The scope of HRM services is huge as HR professionals are responsible for Industrial relations, personnel management and also employee welfare in a given timeframe. Looking at the effects of HR outsourcing and Advisory services in both theoretical and practical domain, we see it’s absolutely necessary to hire them for management and retention of Human Resources in any company today.