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Making HR a profit centre

HR is typically responsible for activities like recruitment, training and development, managing pay, and performance appraisal. All these functions involve significant investment and are not revenue generating. Hence, a human resource department is generally considered as a cost centre of an organisation.

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Making HR a profit centre

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  1. Making HR a profit centre

  2. We're here to help! Here's some information you should know.

  3. Making HR a profit center They are typically responsible for activities like recruitment, training and development, managing pay, and performance appraisal. All these functions involve significant investment and are not revenue generating. Hence, a human resource department is generally considered as a cost centre of an organisation.

  4. How can you make HR a Profit Centre? A human resource department does not carry out revenue generating activities. However, various strategies can be implemented enabling cost reductions which in turn can contribute to profits. These strategies include:

  5. Implementing pre-employment screening A comprehensive employee screening procedure will help you hire right and minimise recruitment-related costs. While this approach seems resource and time intensive, the investment will result in long-term returns.

  6. Utilizing internal talent for efficient human capital management Another way to make HR a profit centre is to utilize the internal talent. Implement an employee referral system to identify and attract talent. Your employees can be a highly effective source to hire candidates, plus this strategy helps in reducing hiring costs.

  7. Employee retention strategies to save costs raining and development, orientation, employee feedback, and pre-employment screening are ways in which you do not lose out on talent. While these processes may demand significant investment, they also offer benefits in terms of reducing costs on re-hiring and related activities.

  8. Visit us at https://secur.co.in/ Call +91 22 2921 71 00 For Any Questions,

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