2022 Year-end HR Checklist

Has anyone felt that 2022 flew by real quick? Christmas is less than 2 months away, and the New Year is just around the corner. The end of the year is always a busy time for many businesses, and the same applies to HR departments. From recruitment, performance appraisals, and payroll to policy reviews, it’s an important season for HR to plan to make sure that the beginning of 2023 is strong.

Don’t know where to start? Dive into our HR year-end checklist that will help you get started. Below are 7 things HR leaders need to do before the calendar hits 2023.

#1 Conduct surveys to gain insights into employee engagement and satisfaction

The end of the year is mostly the time of restructuring for most companies, but it is also a season when employees start planning for the year ahead and look for new job opportunities if they aren’t satisfied with their job. A year-end 2021 report revealed that the main factors that drive employees to leave their jobs are the following:

Lack of career development
Lack of appreciation
Lack of training opportunities
Low pay
Overworked
Inflexible work environment

Surveys help employers better understand how employees view the company, offering valuable information to help develop action plans that improve job satisfaction, performance, and company culture.

#2 Review the effectiveness of learning and development programs

Learning and development may vary between companies. For some, it may be supplying a robust training budget to individuals, while others invest in sending employees to well-known conferences. Whichever it is, it’s crucial to re-evaluate the effectiveness of these programs and determine whether these initiatives help achieve business objectives. HR can also look into other training methods to increase effectiveness and reduce the costs of programs.

#3 Conduct end-of-year performance reviews

Annual reviews are the perfect time to review constructive feedback from both the employer's and employees’ perceptions. It’s a little more formal than a career conversation as it evaluates employees’ performance, strengths, weaknesses, improvement areas, and career development. However, many employers and HR leaders make the mistake of not preparing beforehand and freestyling during these important sessions, which can seem daunting to employees. So take time to prepare and analyze the performance of each employee on their current projects and ensure that you take note of both the positives and negatives of the employee before the meeting.

Here are 8 best practices employers and HR leaders can utilize to ensure an effective performance review:

Give positive feedback first
Keep your evaluations as clear as possible
Set new goals and challenges
Encourage a growth mentality
Limit feedback to 1 or 2 areas at a time
Find a solution together
Ask for an overall feedback
Close with support

#4 Re-evaluate employees’ salaries and benefits

Salary evaluations go hand in hand with performance reviews. Hence, HR leaders should evaluate each employee’s payroll and benefits as soon as the performance reviews are in. This ensures that employees are paid fairly and competitively for their responsibilities and rewarded for their achievements. After all, salary remains one of the most important factors in overall employee satisfaction.

#5 Look over company policies and update them accordingly

Clear HR policies are essential in running a successful company and managing a diverse group of individuals. But as time goes on, some policies can become redundant as companies change and grow. Hence, it is recommended that they should be reviewed regularly to point out areas of improvement and be updated accordingly. To effectively review your policies and procedures, consider these steps:

Complete an HR policy audit
Conduct HR policy competitor research
Create an HR policy development committee
Go through updated policies with managers across departments
Implement into the new onboarding process

#6 Review the HR budget to allocate resources for the new year

Since the most essential asset of a company is its people, the HR budget should be meticulously planned out, communicated to, and approved by relevant teams. As a general rule of thumb, the HR budget typically encompasses funds allocated to recruitment, payroll, talent management, learning and development training, facilities and equipment needs, and employee wellness planning. Therefore, reviewing past budgets and analysing your workforce needs is important to prepare your 2023 HR budget.

#7 Express gratitude to your employees

Although your employees get compensated for their work, it still feels great to be appreciated and cared for. It can also help motivate them to continue bringing their best self to work and stay positively engaged in the company. A few ways to show appreciation and gratitude include sending out personalized thank-you cards, giving holiday gifts, and throwing a year-end appreciation party for your employees.

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