This article discusses the role of Human Resources (HR) practitioners in achieving organizational goals. It explains how they are responsible for developing and implementing strategies to increase productivity and revenue growth and how they help to build organizational capabilities. It also discusses the collaboration between HR and finance and how CFOs perceive HR. The survey of CFOs conducted by CRO Research Services reported that HR and finance work better together than separately and that CFOs recognize the importance of HR in achieving organizational goals. This positions HR practitioners to take on a more strategic role in achieving an organization’s missions and goals.
Introduction
Role of HR Practitioners in Achieving Organizational Goals
Collaboration Between HR and Finance
CFOs’ Perception of HR
Conclusion
Introduction: Human Resources (HR) practitioners are becoming increasingly important in achieving organizational goals. They are developing a better understanding of how to increase revenue growth and productivity and are learning to build organizational capabilities. This is done through collaboration with the financial professionals of an organization. A survey of CFOs conducted by CRO Research Services reported that HR and finance work better together than separately. This article will discuss the role of HR practitioners in achieving organizational goals, the collaboration between HR and finance, and CFOs’ perception of HR.
Role of HR Practitioners in Achieving Organizational Goals
HR practitioners are integral to achieving organizational goals. They are responsible for developing and implementing strategies to increase productivity and revenue growth and help build organizational capabilities. They also manage the recruitment and selection of employees, provide training and development, and ensure compliance with laws and regulations. Additionally, they manage employee relations, develop and implement policies and procedures, and develop compensation and benefits packages.
Collaboration Between HR and Finance
The collaboration between HR and finance has become increasingly important in achieving organizational goals. By working together, HR and finance can develop strategies to increase revenue growth and productivity and provide insights into areas such as cost control, budgeting, and financial analysis. Additionally, working together can develop and implement policies and procedures, manage employee relations, and develop compensation and benefits packages.
CFOs’ Perception of HR
The survey of CFOs conducted by CRO Research Services reported that most respondents view HR as a strategic partner. Thirty-nine percent of respondents said they view HR as “mainly or somewhat as a strategic partner, one-third said they see HR as an even mix of cost center and strategic partner, and 28 percent said they see HR as somewhat or mainly a cost center (HR Magazine, September 2003). This indicates that CFOs recognize the importance of HR in achieving organizational goals.
Conclusion: HR practitioners are increasingly important in achieving organizational goals. They are developing a better understanding of how to increase revenue growth and productivity and are learning to build organizational capabilities. This is done through collaboration with the financial professionals of an organization.
The survey of CFOs conducted by CRO Research Services reported that HR and finance work better together than separately and that CFOs recognize the importance of HR in achieving organizational goals. HR practitioners are positioned to take on a more strategic role in achieving an organization’s missions and goals.
Successful HR management is the key to unlocking a productive and successful workplace.
