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Complete Human Resources - Business Studies Notes
Business Studies
23 Pages • Complete Study Notes • Year: Pre-2021
Role of Human Resource Management Strategic Role of HR The number one strategic role of most businesses is to maximise profits. The Human Resources function contributes by effectively managing people within an organisation, working towards aligning and achieving the goals of the business and the employees. Interdependence with Other Key Business Functions Outsourcing When a company takes a part of its business function and gives that party to another company to complete. Reasons for Outsourcing (HR) Reasons against Outsourcing (HR) Provides the ability to access staff whose speciality is HRM Outsourced company lacking understanding of the key aspects of the business (culture/issues) Allows managers to focus on the core business operations Possible relationship breakdown between managers and employees Can save time and reduce costs Outsourcing Human Resource Functions Interdependence HR and Marketing: HR develops marketing strategies + the public face of the business HR and Finance: Staff producing budgets andworking with restricted finances. Funds are sed toward traning/ developing staff. HR nad Operations: Ensuring the business has recruited appropriate staff to prodice the good/ service • Outsourcing allows firms to focus more on their core business
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