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  1. #1

    How can effective Human Resource Management contribute to the Revenue of the company?

    Hi

    Does anyone have any related articles on this?

    How HRM will benefit a company in term of cost and revenue?

    Thanks for any help.

  2. #2
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    I think basically its a matter of hiring better people, less number of people, getting more work from them and acquiring them by spending least amount.

    Ofcourse you have to do a balancing act so the result is maximised from the HR management exercise from a point of generating profits, building loyalty in the workers, and getting the most out of them.

    I am no expert on this & maybe there are more points I am not aware of.

  3. #3
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    To an organization, employees are a resource that they need to manage -- just like anything else.

    Human resources management reduces costs by streamlining costs related to employee management. For example, the costs of integrating a new employee (one of the most expensive parts of hiring) can be streamlined by well defined HR policies and procedures.

    The human resources department can put together an "employee welcome" package that includes all the necessary documentation and procedures "Who do I see about getting my network password?" etc. This will reduce the time it takes for the employee to be productive.

    Also, human resources involves other things -- such as benefits management, legal procedures, training and development, etc. etc. All these lead to more productive workers (if I don't have to go outside to a lawyer's office to find out what my contract says, or how to figure out my benefits -- then I can use that time to work).
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  4. #4
    Thank you. It would be great if anyone else has any more ideas or articles I can read up on this topic

  5. #5
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    Google is your best friend.

    Make an advanced search with .edu and .org only for Human Resource Management in the search field and you might find a lot of useful stuff from some university or organisation.

    You can also enter other related search words like how you have described : How Human Resource Management will benefit a company in term of cost and revenue?

  6. #6
    Join Date
    Apr 2002
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    The single most important thing to remember about human resources is that they're human. Yes, they are a 'resource' and, as such, they have some of the same costs associated with them as any other resource (costs of acquisition, maintenance etc.), but because they're human they need motivation.

    People only ever do what they're motivated to do. Motivation can come from many different sources - money, job satisfaction, fear, pride etc. - but the best long-term employees will be the ones with the greatest motivation.

    Positive motivation works best too. Negative motivation can work (i.e. do this or you're sacked!) but generally you're unlikely to get as good a return as when you use positive motivation.

    You can (and many companies do) run a workforce without any attention to motivation and companies will often still be successful, but one wonders how much more successful they'd be with a highly motivated work force. It's sometimes the way to get that extra 10%.

  7. #7
    Thanks guys but how would ineffective HRM increase the cost of a company?

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