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Human Resources Management

Unlocking Success: Today's HR Practitioners in Management

29 January 2023
A man stands on a stage in a bright room, illuminated by a single spotlight. He wears a white turtleneck and a black jacket, and is looking off to the side. Behind him is a wooden stand with a white object on top of it. To the right is a computer monitor displaying a purple and orange object. At the bottom of the screen is a green text on a black background. To the right of the man is an orange object, on which a person is sitting. The background of the image is black, with white text on it. In the bottom left corner is a white letter O on a black background, and the same white letter O appears again in the top right corner.
AspectDetailResult
HR practitionersResponsible for developing and implementing strategies to increase productivity and growth.Integral to achieving organizational goals and building capabilities within the organization.
Collaboration with FinanceHR and finance work better together than separately, combining strategies.Boosts revenue growth, cost control, budgeting, financial analysis, and overall organizational progression.
CFOs’ Perception of HRView HR as a strategic partner or even mix of cost center and strategic partner.HR is recognized as a critical part in achieving organizational goals.
Recruitment & Selection by HRHR manages the process of recruiting and selecting suitable employees.Builds a quality workforce contributing to organizational success.
Training & DevelopmentHR provides essential training and professional development opportunities.Enhances employee skills and growth, aiding in the achievement of organizational goals.
Legal ComplianceEnsuring compliance with laws and regulations falls under HR's responsibilities.Prevents potential legal complications and protects the organization's reputation.
Employee RelationsMaintaining positive employee relationships is a critical job role of HR.Promotes a healthy work environment, reduces turnover, and enhances efficiency.
Policies & ProceduresDevelopment and implementation of policies and procedures by HR.Smooth operation of the organization and adherence to legislation.
Compensation & BenefitsHR responsible for creating and implementing compensation and benefits.Ensures competitive packages to attract and retain competent staff.
Strategic Role of HRHR practitioners are taking a more strategic role within the organization.Plays a decisive role in shaping an organization's mission and goals.

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.

IIENSTITU
HR practitioners, Responsible for developing and implementing strategies to increase productivity and growth, Integral to achieving organizational goals and building capabilities within the organization, Collaboration with Finance, HR and finance work better together than separately, combining strategies, Boosts revenue growth, cost control, budgeting, financial analysis, and overall organizational progression, CFOs’ Perception of HR, View HR as a strategic partner or even mix of cost center and strategic partner, HR is recognized as a critical part in achieving organizational goals, Recruitment & Selection by HR, HR manages the process of recruiting and selecting suitable employees, Builds a quality workforce contributing to organizational success, Training & Development, HR provides essential training and professional development opportunities, Enhances employee skills and growth, aiding in the achievement of organizational goals, Legal Compliance, Ensuring compliance with laws and regulations falls under HR's responsibilities, Prevents potential legal complications and protects the organization's reputation, Employee Relations, Maintaining positive employee relationships is a critical job role of HR, Promotes a healthy work environment, reduces turnover, and enhances efficiency, Policies & Procedures, Development and implementation of policies and procedures by HR, Smooth operation of the organization and adherence to legislation, Compensation & Benefits, HR responsible for creating and implementing compensation and benefits, Ensures competitive packages to attract and retain competent staff, Strategic Role of HR, HR practitioners are taking a more strategic role within the organization, Plays a decisive role in shaping an organization's mission and goals
HR practitioners collaboration between HR and finance CFOs’ perception of HR increasing revenue growth and productivity building organizational capabilities cost control budgeting financial analysis policies and procedures managing employee relations developing compensation and benefits packages strategic partner cost center
Yu Payne is an American professional who believes in personal growth. After studying The Art & Science of Transformational from Erickson College, she continuously seeks out new trainings to improve herself. She has been producing content for the IIENSTITU Blog since 2021. Her work has been featured on various platforms, including but not limited to: ThriveGlobal, TinyBuddha, and Addicted2Success. Yu aspires to help others reach their full potential and live their best lives.
Yu Payne
Blogger

Yu Payne is an American professional who believes in personal growth. After studying The Art & Science of Transformational from Erickson College, she continuously seeks out new trainings to improve herself. She has been producing content for the IIENSTITU Blog since 2021. Her work has been featured on various platforms, including but not limited to: ThriveGlobal, TinyBuddha, and Addicted2Success. Yu aspires to help others reach their full potential and live their best lives.

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