Beginning in the 1980s, there was a push for strategic initiatives within HR departments. This movement was based on research related to the impact of employee-related issues on a firm’s long-term business success. Collectively, these strategies are sometimes referred to as human resource management (HRM) strategies. HRM is a comprehensive approach to managing employees and…
John R. Commons, an American institutional economist, first coined the term “human resource” in his book The Distribution of Wealth, published in 1893. However, it was not until the 20th century that HR departments were formally developed and tasked with addressing misunderstandings between employees and their employers. An HR department is an essential component of any business, regardless of…
Human resources (HR) is the division of a business that is charged with finding, recruiting, screening, and training job applicants. It also administers employee benefit programs. HR plays a key role in helping companies deal with a fast-changing business environment and a greater demand for quality employees in the 21st century. KEY TAKEAWAYS
HR manages all payroll and compensation work, including employee salaries, payment schedules, W2s, and all other tax-related paperwork. If an employee is offered a promotion — or awarded a bonus — HR will handle all changes in their regular payment schedules.
Your HR department will handle the amount and type of employee benefits your company offers. Providing good employee benefits is critical to the success of your business because they’re proven to attract and retain talent and increase employee productivity. Benefits keep employees satisfied by giving them a variety of perks and making them feel secure in their roles.
Once your employees have begun work, you’ll want to make sure they’re excited to come to the office every day and add value to your company — their excitement is directly related to their level of job satisfaction. If your employees are happy in their roles, feel as though they can grow at your company, and…
Your HR department will handle your entire staffing plan — meaning they’ll identify the gaps in your current employee structure and fill them by acquiring new talent. They’re also in charge of firing any existing talent that isn’t meeting company standards. Your company’s HR team will ensure you have the right people to help you grow your…
HR handles the employee-to-employee relationships as well as the employee-to-company relationship. This means they work to develop positive interactions and treatment among all employees within your company so they feel good about coming to work, are committed to their jobs, and are invested in the growth of the business. Whether it’s a personal matter or…
