Traditionally, human resources (HR) was seen an administrative function, but in recent years, HR has taken on a more pivotal role in managing a company’s most valuable asset: its employees.
While managing is progress, HR’s next big move is to pivot toward human capital management and influence business strategy by increasing revenue. HR is actually uniquely suited to do just this through assessing the cost of getting good talent and how that talent impacts the bottom line.
But HR departments don’t often have the data needed to make this kind of in-depth, value-based assessment.
To assign a dollar value to people in the organization, HR must focus on the holistic value of employees—the cost and the return—which is only possible by integrating systems and apps that house this data.
Learn how HR can become more strategic by connecting employee management and financial management systems.