BENEFITS OF HUMAN RESOURCES
Every company needs HR to help meet their business goals, and much more. Here's how:
Human Capital Value - For small businesses, in particular, human capital is critical because so many smaller companies have employees who perform cross-functional duties. With a smaller workforce, if just one employee leaves, it leaves the company with a huge gap to fill and a potential threat to the company's profitability.
Business Budget Control - Human resources curbs excessive spending through developing methods for trimming workforce management costs, which includes negotiating better rates for benefits such as health care coverage. In addition, human resources ensures competitive and realistic wage-setting based on studying the labor market, employment trends, and salary analysis based on job functions. As some small businesses have budget constraints, this human resources function is especially helpful.
Employee Conflict Resolution - Workplace conflict is inevitable, given the diversity of personalities, work styles, backgrounds, and levels of experience among employees. A human resources consultant specially trained to handle employee relations matters can identify and resolve a conflicts between employees and restore positive working relationships.
Training and Development - Companies in growth phases can benefit from identifying training needs for existing staff. It's much less expensive than the cost of hiring additional staff or more qualified candidates. In addition, it's a strategy that also can reduce turnover and improve employee retention.
Improving Employee Satisfaction - Human resource consultants usually are charged with the responsibility of determining the level of employee satisfaction – often an ambiguous measurement at best. With carefully designed employee surveys, focus groups, and an exit interview strategy, human resources determines what underlies employee dissatisfaction and addresses those issues to motivate employees.
Human Resources Cost Savings - The cost of hiring new or replacement workers, including training and ramp-up time, can be exorbitant for employers, especially small businesses. With a well-constructed recruitment and selection process, the human resources function can minimize expenses regarding advertising job postings and training new employees.
Employee Performance Improvement - Human resources develops performance management systems. Without a human resources consultant to construct a plan that measures performance, employees can wind up in jobs that aren't suitable for their skills and expertise. Additionally, employees whose performance falls below the employer's expectations can continue on the payroll, thereby creating wasted money on low-performing employees.
Sustaining Business Success - Through succession planning that a human resources consultant develops, the company identifies employees with the promise and requisite capabilities to eventually transition into leadership roles with the company. This is an important function as it can guarantee the organization's stability and future success.
Improving Corporate Image - Businesses want to be known as the "employer of choice." Employers of choice are the companies that receive recognition for the way they treat employees; they are the companies for whom people want to work. Becoming an employer of choice means human resources balancing recruiting the most qualified applicants, selecting the most suitable candidates, and retaining the most talented employees.
Steadfast Business Principles - Human resources ensures the workforce embraces the company's philosophy and business principles. From the perspective of a small business, creating a cohesive work environment is imperative. The first opportunity human resources has to accomplish this is through wise hiring decisions that identify desirable professional traits as well as orientation and on-boarding programs.
Business Budget Control - Human resources curbs excessive spending through developing methods for trimming workforce management costs, which includes negotiating better rates for benefits such as health care coverage. In addition, human resources ensures competitive and realistic wage-setting based on studying the labor market, employment trends, and salary analysis based on job functions. As some small businesses have budget constraints, this human resources function is especially helpful.
Employee Conflict Resolution - Workplace conflict is inevitable, given the diversity of personalities, work styles, backgrounds, and levels of experience among employees. A human resources consultant specially trained to handle employee relations matters can identify and resolve a conflicts between employees and restore positive working relationships.
Training and Development - Companies in growth phases can benefit from identifying training needs for existing staff. It's much less expensive than the cost of hiring additional staff or more qualified candidates. In addition, it's a strategy that also can reduce turnover and improve employee retention.
Improving Employee Satisfaction - Human resource consultants usually are charged with the responsibility of determining the level of employee satisfaction – often an ambiguous measurement at best. With carefully designed employee surveys, focus groups, and an exit interview strategy, human resources determines what underlies employee dissatisfaction and addresses those issues to motivate employees.
Human Resources Cost Savings - The cost of hiring new or replacement workers, including training and ramp-up time, can be exorbitant for employers, especially small businesses. With a well-constructed recruitment and selection process, the human resources function can minimize expenses regarding advertising job postings and training new employees.
Employee Performance Improvement - Human resources develops performance management systems. Without a human resources consultant to construct a plan that measures performance, employees can wind up in jobs that aren't suitable for their skills and expertise. Additionally, employees whose performance falls below the employer's expectations can continue on the payroll, thereby creating wasted money on low-performing employees.
Sustaining Business Success - Through succession planning that a human resources consultant develops, the company identifies employees with the promise and requisite capabilities to eventually transition into leadership roles with the company. This is an important function as it can guarantee the organization's stability and future success.
Improving Corporate Image - Businesses want to be known as the "employer of choice." Employers of choice are the companies that receive recognition for the way they treat employees; they are the companies for whom people want to work. Becoming an employer of choice means human resources balancing recruiting the most qualified applicants, selecting the most suitable candidates, and retaining the most talented employees.
Steadfast Business Principles - Human resources ensures the workforce embraces the company's philosophy and business principles. From the perspective of a small business, creating a cohesive work environment is imperative. The first opportunity human resources has to accomplish this is through wise hiring decisions that identify desirable professional traits as well as orientation and on-boarding programs.
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