The qualities needed to make businesses competitive are changing in the global economy, and Human Resources play a critical role in this process. Businesses must make their decisions make sense financially but also strive to balance financial goals with what is best for their employees and customers. Examine the costs and benefits of a company managing the following factors: · Absenteeism · Training · Productivity · Turnover · Employee diversity (including gender, age, race, education, experience, disability, religion, sexual orientation, or ethnicity) Based on this information, respond to the following questions: · What are the direct costs? · What are the indirect costs? · How are these elements measured? · Are the programs instituted created voluntarily by the company or initiated for legal requirements? · What steps are necessary to determine if managing each factor makes financial sense? Present any applicable program examples you may have to support your arguments based on your current or previous work experiences.
The qualities needed to make businesses competitive are changing in the global economy, and Human Resources play a critical role in this process. Businesses must make their decisions make sense financially but also strive to balance financial goals with what is best for their employees and customers.
Examine the costs and benefits of a company managing the following factors:
· Absenteeism
· Training
· Productivity
· Turnover
· Employee diversity (including gender, age, race, education, experience, disability, religion, sexual orientation, or ethnicity)
Based on this information, respond to the following questions:
· What are the direct costs?
· What are the indirect costs?
· How are these elements measured?
· Are the programs instituted created voluntarily by the company or initiated for legal requirements?
· What steps are necessary to determine if managing each factor makes financial sense?
Present any applicable program examples you may have to support your arguments based on your current or previous work experiences.
Managing absenteeism, training, productivity, turnover, and employee diversity is essential for businesses in the global economy. It can have a positive financial impact by improving employee morale, reducing turnover, and increasing productivity.
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