Week 7-The Impact of HRM-Christopher Farris

Week 7-The Impact of HRM-Christopher Farris - company...

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The Impact of HRM The Impact of Human Resource Management Christopher Farris Axia University of Phoenix BUS / 210 Foundations of Business
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The Impact of HRM Good medical insurance and retirement programs are the two most important benefits a company can improve to attract higher quality employees. Good benefits are the foundation to finding a good candidate, motivating an employee to do better, and keeping employees devoted to the company. Health insurance benefits an employee by providing them with a safety net in the event that they become ill or injured. Good insurance can attract and keep hard working employees devoted to a company but good insurance can also be costly benefit for employees and companies. Companies must debate how must of the cost they are able to take and how much they must pass on to the employee. As insurance cost continue to rise because of higher medical cost companies are forced to decide between the importances of benefits to keep good employees motivated or saving money to help increase the
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Unformatted text preview: company profits. Good retirement program will influence employees to devote themselves to a company for several years. This devotion will increase profits through recruitment cost savings and inventive ideas from years of experience. Solid retirement programs can cost a company exponentially as economic downturns affect the economy. As the economy decreases and as stocks and bonds loose there value companies struggle to provide quality retirement programs. Some companies are forced to make adjustments to there retirement programs or force some of its employees into early retirement. This can cause employees to lose motivation and start looking to other companies for quick fixes. With out a good retirement benefits companies will struggle to keep devoted hard working The Impact of HRM employees creating high turnover and higher recruitment cost for human resource management....
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This note was uploaded on 07/08/2010 for the course BUS bus 210 taught by Professor Unknown during the Spring '09 term at University of Phoenix.

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Week 7-The Impact of HRM-Christopher Farris - company...

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