What is a human resource and how does it benefit a small business?
What you will learn
Students will learn the basic business principles of how the Human Resources are used to manage a business.
Why take this course?
What is a human resource and how does it benefit a small business?
Starting out, an entrepreneur has to wear many hats. However, as the business grows, people talent will be essential. A human resource position supplies the entity with the skills and knowledge necessary to help an organization achieve its business goals. In any business, people tend to require the most management. An HR employee might also be in charge of other functions that might include:
Talent management
Strategic management includes fulfilling company objectives such as recruitment, ongoing learning and development, compensation bench-marking, and analyzing performance management.
New hire and orientation
HR professionals provide employees the tools they need to and monitor productivity, engagement and retention rates.
Payroll and tax administration
Processing payroll, depositing, and filing payroll taxes.
Regulatory compliance
HR personnel, especially in the production of more complex products, must remain aware of changes to employment regulations and provide compliance management strategies.
Benefits administration
HR is also tasked with open enrollment, COBRA administration, invoice reconciliation, employee support and reporting.
Policy creation
HR may also create and enforce policies that ensure the work are not just equitable, but also provides work environments that are not only safe, but also promote diversity, equity and inclusive.
Employer – Employee relations
HR personnel often have to be diplomatic in order to appropriately resolve workplace conflicts as they arise. In union shops, the HR department may also need to engage with the union officials to keep the business open. In these situations, attorneys who specialize in HR\union negotiations may become an integral part of the HR department.
The following textbooks are available online at Barnes and Noble and can be found, along with other publications, under my name, Shane Irvine:
The Executive Juris Doctor ISBN 979-8-891-45669-3
The Bootstrapped Entrepreneur ISBN 979-8-892-17209-7
The Sales Management Team Textbook ISBN 979-8-891-45086-8
The Perfect Business Plan ISBN 979-8-892-17201-1
Business Law for the Nascent Entrepreneur ISBN 979-8-892-17208-0