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HR Pros Boost Business Value
May 10, 2007
by Richard Barrington
Business Programs Columnist
One of the most sure ways to succeed in business in the long run is to make yourself valuable to your company. If you add value to the business, management will tend to recognize that value over time in the form of compensation and responsibility. Human resources has proven to be one field which gives employees an opportunity to add considerable value.
Human Resources Contributes to Shareholder Value
Effective management of human resources can add as much as 30% to shareholder value. The opportunity to make that kind of impact means that human resources can be a pathway to a very rewarding career.
A prominent Watson Wyatt study of 400 publicly-traded companies examined the relationship between best human resources practices and business success. The study found a strong correlation between the two.
In particular, there were four categories of human resources practices which seemed to add the most to the value of a business:
- Recruiting Excellence
- Clear Rewards and Accountability
- Collegial, Flexible Workplace
- Communications Integrity
Companies which rated well in the above areas tended to add the most to shareholder value.
Getting Started in Human Resources
Being involved in adding shareholder value would give you the opportunity to be noticed. So, if you want to be involved in the management of a very valuable business asset -- people -- then human resources is a good career path.
There are human resources degrees at all levels. Besides human resource management, there are related fields such as organizational psychology. Anything that makes you a part of a company's people practices represents an opportunity to benefit the company's employees, its shareholders, and yourself. That's a good description of a successful career!
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About the Author:
Richard Barrington is a freelance writer and novelist who previously spent over twenty years as an investment industry executive.
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