Human Resources Purpose and Role

803 WordsMar 5, 20114 Pages
------------------------------------------------- HUMAN RESOURCES PURPOSE AND ROLE In simple terms, an organization 's human resource management strategy should maximize return on investment in the organization 's human capital and minimize financial risk. Human Resources seeks to achieve this by aligning the supply of skilled and qualified individuals and the capabilities of the current workforce, with the organization 's ongoing and future business plans and requirements to maximise return on investment and secure future survival and success. In ensuring such objectives are achieved, the human resource function purpose in this context is to implement the organisation 's human resource requirements effectively but also pragmatically,…show more content…
The duties of financial managers vary with their specific titles, which include controller, treasurer or finance officer, credit manager, cash manager, and risk and insurance manager. Controllers direct the preparation of financial reports that summarize and forecast the organization 's financial position, such as income statements, balance sheets, and analyses of future earnings or expenses. Controllers also are in charge of preparing special reports required by regulatory authorities. Often, controllers oversee the accounting, audit, and budget departments. Treasurers and finance officers direct the organization 's financial goals, objectives, and budgets. They oversee the investment of funds and manage associated risks, supervise cash management activities, execute capital-raising strategies to support a firm 's expansion, and deal with mergers and acquisitions. Credit managers oversee the firm 's issuance of credit. They establish credit-rating criteria, determine credit ceilings, and monitor the collections of past-due accounts. Managers specializing in international finance develop financial and accounting systems for the banking transactions of multinational organizations. Cash managers monitor and control the flow of cash receipts and disbursements to meet the business and investment needs of the firm. For example, cashflow projections
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