3 Integrated HR Strategies That Drive Business Performance

August 7, 2017

3 Integrated HR Strategies That Drive Business Performance

Talent is the ultimate competitive advantage for any company, in any industry. Our 50,000 employees at BNY Mellon are powering investment success across the globe and improving lives through investing.To be successful, HR needs a strategy that is integrated with and drives business objectives forward to ensure its people have the tools, skills and knowledge they need to deliver their very best work. There are many ways to build out a comprehensive multi-year HR and talent management strategy. Here are some best practices to help get you started:

  1. Investing in future leaders is key. Strong leadership doesn’t just happen; good managers need the tools, training, and rewards to lead effectively. As the world is constantly evolving and innovating, management strategies must evolve to ensure employees are highly engaged and that performance goals are clear. Companies should regularly reassess their management and leadership strategies, ensuring they are aligned closely to their business’ vision, mission, and strategy. At BNY Mellon, we rolled out a new management and leadership development program last year, which included interactive, virtual, and face-to-face training for managers across the firm. Make sure your HR programming is laser-focused on what competencies are needed to execute the business strategy and that managers understand that the firm will develop and reward those who not only perform against the financials, but also perform well as leaders. By investing in the professional development of your people, you’re investing in the future success and growth of your organization.
  2. Diverse teams are great for business. At BNY Mellon, we have been working to reinforce our broad definition of diversity. Looking beyond inherent traits like race and gender to also factor in acquired attributes, such as diversity of thought, global acumen and multicultural competency, which are key to fostering a dynamic and high performing culture. Diverse teams are proven to deliver tangible business results, reduce risk exposure, and drive innovation. BNY Mellon’s diversity and inclusion certificate program helps employees develop the skills they need to become inclusive leaders.
  3. Health and well-being are vital to sustaining a productive and engaged workplace. To attract, develop, and retain top talent and maintain a healthy workplace, a corporate wellness program designed to address a broad range of wellbeing goals is crucial. Since establishing our new holistic well-being program in 2016, over 23,000 employees have taken advantage of our onsite health center appointments and over 21,000 have participated in health coaching. In addition to helping employees stay healthy, BNY Mellon offers financial education and counseling. It’s also important to offer employees the tools and platforms they need to track their progress and encourage them to prioritize their wellbeing. Our well-being engagement platform helps employees track their progress against their goals. Successful wellness programs help reinforce a culture that values all dimensions of health: physical, emotional, financial,and social.

An organization’s people are its competitive advantage. Companies that are able to establish a talent management strategy that fosters a supportive, inclusive, collaborative, and goal-oriented work environment will be the industry leaders of the future.

The Authors: 

Monique R. Herena is senior executive vice president and chief human resources officer at BNY Mellon and serves on the HR People + Strategy Advisory Council.