Is Hr A Cost Center Or Business Segment23

  • View
    2.014

  • Download
    1

Embed Size (px)

DESCRIPTION

 

Transcript

  • 1.

2. NAMES ROLL NOS RUKMINI. JAGANATHAN 88 RASIKA. MHATRE 122 TEJASVI. MALDIKAR 127 SHALAKA. NAIK 131 NEHAL. DEDHIA 132 3. 4. INTRODUCTION

  • Human resource management is essential for overall productivity and efficiency of the strong work force in any flourishing organization.
  • HR is the most valued department in an organization since they are the guardian of peoples interest and people are the companys important ASSETS.
  • But now a days every department in an organization is divided into two categories which are known as cost center and business segments [profit center].

5. DEFINITIONS

  • COST CENTER
  • A cost center is part of an organization that does not produce direct profit and adds to the cost of running a company.
  • BUSINESS SEGMENT
  • A business segment is a unit of a company that generates revenue in excess of its expenses. It is expected that, through the sale of goods or services, the unit will turn a profit.

6. GRAND HYATT

  • MISSION & VISION
  • TO provide authentic hospitality.
  • TO make difference in the lives of those they touch everyday.
  • To do this in an environment that respects all people and all ideas.
  • To do it in an efficient way that leads to superior results.

7. GRAND HYATT

  • According to their company policies and from the economic point of view HR is considered as cost center.
  • A cost center is created when overhead cost are directly allocated to departments, outlets or individual products.
  • HR does not generate any revenue nor does it have any source to generate one.
  • HR takes care of resources [people] but the returns from this department cannot be calculated in monetary terms.

8. HEWITT

  • Mission & Vision
  • To enhance associate engagement
  • To strengthen our business
  • Discover ways to reduce their HR costs
  • Process millions of HR customer interactions, freeing them to focus on their core business

9. HEWITT

  • From the companys point of view HR is indirectly a business segment.
  • HR can generate profit by reducing the cost involved in hiring, absenteeism, attrition and by raising the productivity level of people through proper training programmes in order to improve the skills.
  • Every department, be it production, marketing, finance etc.. incurs cost while performing their functions. Likewise HR also incurs cost while performing HR functions.

10. TURNING COST INTO PROFIT

  • Recruiting right people at right time.
  • Proper training and development sessions can helps in enhancing their employability and visibility in the company.
  • There should be a proper communication between the superior and the subordinates.
  • Employee retention equals money retention.
  • Motivation can lead to better work efficiency.

11. CONCLUSION

  • HR is a bridge between cost center and business segment.
  • Though one cannot calculate its benefits in monetary terms but the department has its huge impact.
  • Being a cost center and business segment HR is also considered as a resource center.
  • If finance is heart of the organization, marketing is considered as brain of the organization then HR is definitely the SOUL of the organization.

12. THANK YOU