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Importance of HR 'now being recognised'
HR News |
12/03/2010
Human resources departments have become the most important resource for businesses, according to one industry commentator.
Writing for the Financial Post, Ying Hong, assistant professor of HR and management at the DeGroote School of Business, says firms are no longer viewing HR as "cost centres" but a means of driving revenue and company growth.
He commented: "HR is the innovator, change initiator and quality deliverer that are the most strategic asset for business success."
Mr Ying said that irrespective of a company's marketplace or business activity, it is trained, empowered and motivated employees who are the most valuable assets and most difficult to replace.
"To create such a winning workforce, HR needs to be freed from administrative issues and be seated at the strategic table," he stated.
Businesses that have HR involved in strategy have twice the growth as businesses that do not, Mr Ying said.
Gillian Fox, HR director at Friends Provident, recently claimed that such departments will play a vital role in helping to retain the elite workers of the future.
Posted by Jon Aspinell
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