Role Of A Human Resource Manager - 928 Words

Today’s human resource department requires more input and collaboration from the finance department than ever before. Smaller organizations may combine the two together instead of having two separate departments because both are strategic partners that help maximize an organization. This paper will describe the role of finance in the life of a human resource manager, important financial decisions that human resource managers make which rely on financial information and knowledge of financial tools, and how knowledge of finance within an organization can lead to better managerial decisions. As stated earlier, finance and human resource management work hand in hand with one another. Chaudhary and Prasad stated that HRM (human resource†¦show more content†¦If the hourly rate or salary is lower then expected, the candidate will not take the job offer. If the proposed salary or hourly rate is too high for a position, the organization will be loosing money. Every organ ization is all about making money; otherwise they will not be in business. That is why it is important to fairly compensate each employee by analyzing their KSAOs and verifying that the amount being compensated is within the organization’s budget. What happens when an organization has awesome employees? In order to retain employees it is important to give raises when necessary, find methods of appreciating employees, and satisfy their wants within an organization. All three of these examples will require some sort of budget that has to be discussed with the finance department. Organizations have annual performance reviews, but at each performance review it does not necessary mean that every employee gets a raise; only a selected few are given raises based on their performance. Now let’s look at productivity for example. At Serenity Dental, the production goal is to produce $120,000 each month. Every month this year except for August, Serenity Dental was able t o produce over $120,000. The production for August is lower because the problem could very well beShow MoreRelatedRole Of Human Resources Manager For The New Human Resource Manager1599 Words   |  7 Pagesfive-star hotel needs to find a suitable candidate for the role of Human Resources Manager for the new Human Resources Department that the hotel is about to create. The hotel is suffering many problems due to poor service in its four food beverage outlets. Apart from that, employee turnover is increasing and union disputes over pay rise and lack of employee development in hotel caused many issues. Without having a separate Human resource department to handle man power issues hotel’s management showsRead MoreThe Role of Line Managers and (HR) Human Resources3448 Words   |  14 Pagesthe world, human resources can be paid further more attention to the tourism industry that before. Good human resources management can help the organisation to be successful. Line managers are the important aspect of HR department that can accomplish the organisation’s objective. There are three major level of management structure in the organisation, respectively top level (i.e. president and CEO), middle level (i.e. marketing vice president, finance vice president, and human resources vice president)Read MoreRole Of A Human Resource Manager For A 500 Member Technology Company Essay1311 Words   |  6 PagesIntroduction The purpose of this assignment is to imagine myself in the role of a human resource manager for a 500 member technology company. My directive is a permanent staff reduction of two individuals. As a group, my team and I have to make a decision and identify the names of the two individuals who we decide to permanently lay off and why they were chosen. 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In this essay I will be exploring the different types of personnel management that is used, assessing the roles of human resourceRead MoreEssay on Project Management and Human Resource Managment1445 Words   |  6 PagesProject Management A project may be defined as a one-shot, time-limited, goal-directed, major undertaking, requiring the commitment of varied skills and resources. A project has also been described as a combination of human and nonhuman resources pulled together in a temporary organization to achieve a specified purpose. A project has a single set of objectives, and when these objectives are reached, the project is completed. Therefore, a project has a finite and well-defined life span. InRead MoreProject Mgt- Human Resource Plan1706 Words   |  7 Pages[pic] Project Human Resource Plan Template This Project Human Resource Plan Template is free for you to copy and use on your project and within your organization. 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Human resource department staff are available to provide support to line managers, but human resource staff should notRead MoreManagerial Roles Within the Functional Areas of a Business1026 Words   |  5 Pagesï » ¿Managerial Roles within Functional Areas of Business Adriana Tovar For a business to succeed there are lots of things and people required but among the most important people needed, the managers are the most essential and can make a difference between losing money and making profit. CieÅ›liÅ„ska describes a manager as â€Å"a person who fulfills the primordial managerial functions (planning, organizing, motivating and controlling) and is the superior of given human team† (2007). There are managers at various