Human Resources As An Investment Instead Of An Expense
The human-resources (HR) department of an organization oversees various aspects of employment, including compliance with state and federal employment laws, administration of employee benefits and payroll, employee relations, employee retention, recruitment, training, orientation and dismissal.
Any confusion concerning issues relating to HR can cause costly legal problems for an organization as well as employee dissatisfaction. Consider these scenarios:
Many companies accidentally misclassify employees per the Fair Labor Standards Act (FLSA) regulations. Failing to pay overtime to qualified employees can cost a high amount of back pay and heavy fines by the Department of Labor. It only takes one disgruntled employee to call in a complaint and you will be audited, making it beneficial to routinely audit your FLSA classifications to ensure you are in compliance. Wrongful hiring and termination practices can also be costly and create a negative culture in an organization. This will make it difficult for companies to attract and retain top talent.