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    Financial Issues of Organizational Management

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    Please discuss financial implications of the problem. How would you look at these financial implications in the context of an organization? What does the literature say?

    © BrainMass Inc. brainmass.com December 24, 2021, 10:18 pm ad1c9bdddf
    https://brainmass.com/health-sciences/health-care-management/financial-issues-organizational-management-461125

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    There are a myriad of financial implications in dealing with the problem of effectively managing human resources, due to the fact that managing human resources is a financial endeavor within itself, which means that in effect, the handling human resources will have financial implications and or consequences, for the entire organization. One of the major financial implications of effectively managing human resources, is the fact that human resources management personnel must be able to develop a plan by which to facilitate the implementation of methodology, by which to provide for the human resource or personnel needs for the organization, within the budgetary constraints that has been mandated to them by organizational leadership. Human resource management personnel must find a way by which to first attract the highest caliber of personnel, which requires that human resource management allocate a portion of their budget to recruitment marketing, and one of the most difficult aspects of this endeavor is providing an adequate salary for these individuals, that would help the organization to retain the highest level personnel, but not paying these individuals such high rates, that there is not enough funding left in the budget for paying additional personnel that will be needed by the organization as well. Human resource management personnel are tasked with maintaining a high level of economic efficiency in their selection and training of candidates that have been found suitable for employment with the organization, which is a daunting task within itself, and has tremendous implications for the rest of the organization. If human resource management personnel don't use their financial resources in a highly efficient and effective manner, in respect to recruitment and training endeavors, then the organization will not have the high-caliber personnel that it needs to fulfill its organizational mission, and the training that these individuals receive in respect to orientation, etc., will also tend to suffer in the long run.

    The literature states that a tremendously important financial implication in dealing with the problem of effectively managing human resources, is the fact that an inefficient methodology by which personnel are screened and set to work in different departments within the organization, results in financially devastating negative consequences for the organization. For example, if human resources management personnel do not effectively screen applicants, and all personnel who have been selected to work with the organization in a manner that can effectively determine their skill sets and suitability for working within certain departments within the organization, then unsuitable individuals will invariably be sent to work in departments that they are unsuited for, both educationally and experience wise. In a situation of this nature, individuals that are unsuited for working within given departments within an organization will cause an invariable decline in the efficiency and effectiveness of these departments, which would have detrimental financial consequences for the organization as a whole. In essence, a decline in the efficiency and effectiveness of the various departments within an organization, will serve to result in a decline in the efficiency and effectiveness of the organization, which will tend to reduce the organization's profitability within the market that it operates in. In a healthcare organization, sending individuals to work in areas that they are not suited for, especially in respect to healthcare professionals such as physicians, can have dire financial implications on the organization, due to the fact that it is especially dangerous to have physicians to provide services that they have not been properly trained for, which can lead to detrimental health effects for the patients or clients, and will result in costly malpractice lawsuits for the physician and or organization.

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    © BrainMass Inc. brainmass.com December 24, 2021, 10:18 pm ad1c9bdddf>
    https://brainmass.com/health-sciences/health-care-management/financial-issues-organizational-management-461125

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