Global economy is characterized by highly competitive markets, and often severe financial crisis the competition has become even tougher. At the same time it became obvious that those companies possessing sufficient intellectual capital have more chances to survive and win loyalty of customers. Some business owners and top managers tend to forget that personnel of the company is the most valuable element in their business. All new and innovative ideas are to be implemented by people no matter how much money the company has.
That’s why, all major companies have separate human resource departments that deal with recruitment, employment, education and retention of personnel. A different glance these are quite easy tasks. Indeed, is a difficult to hire person and explain him what he needs to do? Well, in some business areas this is an enormous problem. For example, if we’re talking about electronics industry which can share only say that is not easy to find a talented engineer, IT specialist or a project manager. It is even more difficult to educate him and help him integrate into the company. That’s why, having an efficient HR Dept is a must for every company that claims to be successful and has ambitious goals.
The point is that electronics industry is highly competitive. This is explained by rapid development of technologies. Of something that provoked IT revolution yesterday is forgotten now. That’s why it is important to develop new and unique products and services. It is impossible to achieve such goals without qualified and loyal personnel. HR department in electronics industry should mostly focus on recruitment, education and retain and of highly professional personnel. The following key performance indicators can be used when evaluating the HR performance with Balanced Scorecard system:
- Average time employees are in same position/function. Here is a simple example. If a person works as a junior IT engineer for 10 or more years doing the same job as he did 10 years ago, it means that such an employee is not progressing. Having worked in electronics for a couple of years and employee should be ready to instruct newcomers to the company in shared his experience, and then go up the career ladder. That’s why such an indicator can measure both employees’ potential and the ability of HR department to timely locate and encourage talented employees.
- Percentage of roles with documented position descriptions. It is very important that typical engineering positions have special documented guides and step by step instructions. Production process does not tolerate any deviations and mistakes, especially in the field of electronics. That’s why, HR department needs to make sure that most important and responsible positions in the company a provided with manuals, guides, how-to instruction. Such manuals will decrease error rate and improve employee confidence. As known, confident employees are working better and thus they have a positive attitude to the company which in its turn creates a positive organization climate.
HR management in electronics should always follow frequent changes and challenges in this industry, thus making favorable working conditions for tech specialists.