can u elaborate a little more, like what industry u are in, what is the employee's strength, attrition rate?
the basic key indicators for any SBU is aligning the business objective with theirs (including the employee's) by developing the policies and procedure's in a way that it compliments your business, and before doing so you need to go through extensive study what your company is, its vision, what your employees think about the company (positive or negative), who are your competitors and whats there strategy (about there human capital), HR role in this area is not just to study or analyse but to implement, so u'll be needing a team, one employee from every department to understand the department, see if u'll take care of ur employee and develop an environment that is favourable then in return they will support u (which is major obstacle when u do any change), for example spread a little rumor about an upcoming policy and see how majority of employee reacts, and remember it is for long term so see how ur plan is going to effect the company in long term rather then immediate effect
Regards
Vandana Malik