Today’s post is by Ronald D. Southard, CEO at SafeSourcing Inc.
When was the last time you reviewed the spend in your HR Department?
Frequently some of the largest savings come from this department across all industries. Just think about the areas of spend the control from Payroll Processing, Hotel, Rental Cars, Travel Management Software, translation services and many more. You are paying too much for about everything.
Human resource management (HRM, or simply HR) is the management of an organization’s workforce, or human resources. It is responsible for the attraction, selection, training, assessment, and rewarding of employees, while also overseeing organizational leadership and culture and ensuring compliance with employment and labor laws. In circumstances where employees desire and are legally authorized to hold a collective bargaining agreement, HR will typically also serve as the company’s primary liaison with the employees’ representatives (usually a labor union).
HR is a product of the human relations movement of the early 20th century, when researchers began documenting ways of creating business value through the strategic management of the workforce. The function was initially dominated by transactional work such as payroll and benefits administration, but due to globalization, company consolidation, technological advancement, and further research, HR now focuses on strategic initiatives like mergers and acquisitions, talent management, succession planning, industrial and labor relations, and diversity and inclusion.
In startup companies, HR’s duties may be performed by a handful of trained professionals or even by non-HR personnel. In larger companies, an entire functional group is typically dedicated to the discipline, with staff specializing in various HR tasks and functional leadership engaging in strategic decision making across the business. To train practitioners for the profession, institutions of higher education, professional associations, and companies themselves have created programs of study dedicated explicitly to the duties of the function. Human Resource management includes (1) conducting job analyses, (2) planning personnel needs, and recruitment, (3) selecting the right people for the job, (4) orienting and training, (5) determining and managing wages and salaries, (6) providing benefits and incentives, (7) appraising performance, (8) resolving disputes, (9) communicating with all employees at all levels.
SafeSourcing is an eprocurement company that operates across multiple industries. As such we have specific experience in almost any commodity, service or capital related spend. In the area of HR related spend our SafeSourceIt™ Global Supplier Database has over 95,000 suppliers for this category alone. You are probably paying too much for about everything. To learn more, please contact a SafeSourcing customer services associate.