Human Resource Management Finance Department

Question: Discuss about theHuman Resource Managementfor Finance Department. Answer: Response The human resource department always follows a motto of people being the asset of the company and finance department follows a motto of "cash is king." (Boustanifar et al. 2015) HR managers have found it difficult to calculate the return on investment from the training program provided to the employees. On the other hand finance managers take help of the HR to know the capabilities of the workforce and assigning tasks to them (Carrizales and Gaynor 2013). CFOs primary focus lies on the investment made on human capital which can impact the profitability of the company (Carrizales and Gaynor 2013). HR concerns about support and compliance. The companies include HR managers in the strategic management efforts (Boustanifar et al. 2015). HR managers create the developmental budgets. The HR has to provide the training, selection and incentives to the employees for their work which is related to finance and the salaries provided to the employees also includes a lot of calculation and are calculated by HR managers. For example when the HR manager has to launch a policy with reference to that the cost must be justified as to what cost the company can bear for the policy and the HR should write a proposal to the head (Carrizales and Gaynor 2013). The accounting and finance helps an HR grow comfortable with the numbers For example if a retail store shrinks in profit there may be a need to revise the level of staffing, developing training programs and introducing new incentives for the employees (Boustanifar et al. 2015). Reference: Boustanifar, H., Grant, E. and Reshef, A., 2015. Wages and human capital in finance: international evidence, 1970-2005.Available at SSRN 2518277. Carrizales, T. and Gaynor, T.S., 2013. Diversity in Public Administration Research: A Review of Journal Publications.Public Administration Quarterly, pp.306-330.