Human Resources Planning
As we approach the end of 2018, many of us may be wondering what the new year will bring. Have you started your human resources planning? Are your goals and expectations set out for the year? While it’s important to reflect on the previous year to consider what worked and what wasn’t as successful, it’s equally as important to start planning ahead for 2019.
For many business owners, December can be the busiest month of the year. In addition, starting to plan your business for 2019 can be a task that you think can wait. However, taking time to reflect and plan is crucial if you want to continue to have a successful business in the new year.
With automatic enrolment contributions increasing and statutory pay rates changing in April 2019, it’s important you consider this when planning. We wanted to give you some useful human resources tips to ensure you have a positive and stress-free new year.
Write a list of your Priorities for next year
Based on what you’ve discovered from reflecting on last year, you will most likely start to notice aspects of your business that you would like to improve on.
We encourage all of our clients to make a list of their main priorities for the year ahead. What do you need to focus on? What human resource planning do you have in place for 2019?
Plan your resources for the year ahead
Once you have a clearer idea of what you’re going to be focusing on over the next year, it’s worth considering getting some tools in place and state this clearly in your human resources planning.
In addition,Make sure you’ve allocated enough resources (staff and money) to accomplish your company’s goals.
Review your website and online marketing
Does your website and social platforms clearly represent you as a company? It is also important that you take a look at your website, social media channels and other methods of marketing. This is important to make sure they are designed to attract and educate your ideal customer. Is your branding and content consistent? Are you engaging with the correct audience?
With the growing importance of an online presence, it is important you are representing your business effectively throughout your platforms. This is something you can consider when planning for the following year in your human resources planning.
Communicate your goals with your staff
Once you have had the chance to consider your goals for 2019, it is good practise to share them with your staff.
A small business update before the end of the year is a good way to share these goals. This is a great way to involve your staff. We regularly do this at The Hr Booth and we find this very effective. This gave us the opportunity to see a lot of good practise with our clients who do the same. You can either do this at the end of the year or start of the new year.
Prepare for Statutory Pay Rates Increase 2019
An employee is entitled to a full year of statutory pay as part of their maternity leave. This is the basic pay an employer is expected to pay. The current rate of statutory pay is £145.18 a week, or 90% of the employees average weekly pay if less than the statutory rate.
Statutory pay will rise to £148.68 in April 2019. It is always expected that the statutory maternity and paternity rates increase every April, so it is important you include this in your business plan every year.
It is also crucial that you consider statutory sick pay in your plan as this will also increase from £92.05 to £94.25 in April. This information will help you to plan your budget and human resources planning for 2019 more accurately. We also encourage you to look at your policies such as family-friendly benefits and make appropriate amendments in preparation.
Prepare for Automatic enrolment contributions increase
The minimum contributions you and your employees are expected to pay into your automatic enrolment workplace pension scheme is planned to increase from April 2019. The current rate in 2018 overall is 5% with the employer paying 2% and the employee paying 3%. This will increase to 8% overall in 2019 with employers contributing 3% and staff contributing 5%.
If you have employees in a pension scheme for automatic enrolment, you must put this in place to ensure the minimum amount of pension contributions are being paid in your employees’ pension scheme.
The amount an employer and staff member pay depends on the pension scheme you have chosen. If you would like further support on this, contact our HR consultants now. If you don’t have staff in an automatic enrolment scheme or you are paying above the expected contribution, you are not expected to take further action. This can be an important part of human resources planning.
For more information on human resource planning, contact us at The HR Booth on 01383 668178 or email us through our website.