Cost-Benefit Ratio and HRIS
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Identify what factors human resource managers would use in developing a cost-benefit ratio to support the decision to purchase future HRIS?
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Solution Summary
This solution of 527 words explains the benefits and costs of the HRIS system in a cost-benefit analysis. All references used are included.
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Justifying the purchase of a new HRIS (Human Resource Information System) through cost-benefit ratio or analysis is one of the most significant challenges that human resource managers face. While it is easy to develop a cost-benefit ratio to justify a new technology, it isn't the same with justifying HRIS purchase because this process is a recent one, still quite rare, and most of all, there hasn't been any method for quantifying the costs of personnel systems.
Recently, management has realized the importance of developing a cost-benefit ratio and analysis for HRIS because the inefficiency in personnel matters may lead to company's loss. Much of the company's budget is spent on salaries and benefits but only few companies can relate these costs to the company bottom line.
Among the human personnel issues the HR managers face today can be solved by the effective implementation and ...
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