Discuss the responsibility of Human Resources (HR) with regard to planning and administering pay and benefits. Also, analyze the impact of this function on the organization.
The solution explains the typical job functions that HR is responsible for - along with how the acitons impact an organization. It is the role of HR to plan for staffing adjustments and to know the labor market; to be able to effectively recruit and retain employees when needed. HR also impacts the budget processing, by providing an analysis for total employee costs for not only pay, but benefit programs as well.
Human Resource (HR) staff, in most organizations, is tasked with planning and administrating employee pay and benefits. The planning phase for pay may include conducting a comparable study of positions with similar entities (size, number of employees, industry) to ensure the organization has a salary structure which coincides with the market. Doing so may help to reduce "turnover costs" by employees working only a short amount of time before going on to another ...
This solution is about 300 words and addresses the responsibility human resources has with the planning and administration of an organization's pay and benefits. These duties may include comparable analysis on job market conditions, determining wage level for positions, on-boarding and enrolling employees into benefit programs. The solution also explains how these functions impact the organization.