A Publication of WTVP

Tad Leaby, a Tampa, Fla.-based business writer, states in Business Finance, September 2000 issue, HR departments that tend to make the best use of their initiatives and maximize their ROI are the ones that best align their initiatives with their company’s strategies. These departments have simplified their systems to cut administrative costs, outsourced more selectively, and taken advantage of automated systems. Controlling costs will always be an HR issue. But these days, a bigger HR issue is recognizing the monetary value of the human assets within the organization.

Hacket Benchmarking and Research in Hudson, Ohio, conducted a study of best practices with HR departments at more than 1,400 companies ranging in size from $200 million in annual revenues to nearly $147 billion. Here is a summary of its findings:

The lesson HR can learn from this study is that increased investment in technology helps yield greater efficiencies and keeps costs under control, despite the currently sparse supply of labor. IBI