“Many cost centers have been able to offset some of their expenses
by creatively generating unexpected revenue.”
- Larry Myler, Forbes magazine
Focus on the word "creatively"
HR is not considered a bastion of creativity.
People Profits Principle #16
As in all Return on Investment (ROI) decisions – HR should be evaluated on results not activity
When was the last time HR brought you a bag of money - EVER?
- When was the last time HR came up with a way to increase revenues?
- Cut and maintained turnover to a point that it meant REAL money?
- Developed a process that increased productivity?
- Attained the Employer of Choice designation?
All of these are REAL MONEY - not soft money
Why can't your HR people do this?
- They don't see themselves as responsible for revenues.
- They can't build a strategy/system that will sustain any reduction in turnover.
- They are not hard wired to understand productivity.
- They are not skilled in all the necessary areas to attain Employer of Choice.
What can you do to help them?
Bring someone in who can help them:
- Review all the possibilities of revenue growth through Human Capital
- Use proven strategies and systems to reduce turnover.
- Determine what are the best strategies to increase productivity
- Pull together all the necessary pieces to attain Employer of Choice
HR can then start bringing you bags of money!!
People Profits case study: In multiple companies in multiple industries the People Profits proprietary concepts, strategies, systems and processes have turned HR into a profit center. Increasing revenues and profits, lowering turnover, increasing billing rates, engagement and productivity - that is how a profit center is built!! This is done by People Profits having a financial view of the HR function. We know what it takes to increase ROI on the greatest asset while engaging that asset.
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