As the fourth quarter approaches, a natural inclination may be to close out the year and look forward to the calming influence of the holidays at year-end – but not if your responsibility incudes Human Resources work, as the year-end period serves instead to create numerous areas of special focus and critical analysis.

The last months of the year are a great time for HR professionals to ensure they’re prepared for everything that needs to be done. It’s also an opportunity to evaluate which HR processes organizations want to take forward into the new year and which to leave behind. While certain HR compliance activities must be completed by the end of the year, HR professionals can also use this time of preparation to focus on tasks that will set their organizations on the right course for next year, such as:

• Completing annual performance reviews

• Asking employees to update their personal and contact information

• Backing up HR data and personnel files

• Establishing an annual budget and allocating resources

• Reviewing recruiting and hiring processes

• Creating plans for new hires

• Measuring:

• Employee engagement and satisfaction

• Employee productivity

• Turnover rate, including new hire turnover

• HR growth compared to revenue

• Average time to fill open positions

• Offer acceptance rate

• Promotion rate

• Time to hire

• HR-to-employee ratio

• Checking on compliance with:

• Employee classification

• Personnel files

• Employee handbook

• Employment policies

• Employment and labor law posters

Year-end activities can seem limitless, which may leave HR professionals feeling overwhelmed, and some tasks can be easily overlooked. By preparing early, HR can wrap up the year properly and set their organizations up for success next year.

For more information and guidance on successful year-end policies and practices, contact the Benefits professionals at The Reschini Group.

Copyright 2023 The Reschini Group

The Reschini Group provides these updates for information only, and does not provide legal advice.  To make decisions regarding insurance matters, please consult directly with a licensed insurance professional or firm.