11-30-2004, 08:08 PM
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salaam all,
dear friends, human resources r one of the most important asset for a company. the departments of HRM n personnel mgmt. r meant for managing all the affairs related to it. according to a survey report in USA, the managrs of HR get 70% of the entire salary budget of top US companies. [referrence personnel management by Flippo]
the CFO of johnsons&johnsons once said (i dont remember his name right now) that "... n the company with best business people will win ... " [reference same as above]
this highlights the importance of human resources. HR is considered to b intangible assets because it r the abilities n talent of the ppl (n not the ppl themselves) tht make the impact. company hires them for their abilities n exploits these abilities for the benefits of the company.
HR might not b considered in accounting exactly like other assets (eg cash) bcoz HR r non-material in nature. so they r not represented in any "accounts" form. rather, accounting treats them as an expense!!!! by creating payrolls, n salaries expenses, n etc etc etc. but the trend has started to change, specially in big multinationals.
i got to know from somewhere, in last few days, tht ICAP has arranged a seminar abt for highlighting the importance of HR n its utilization for benefits of company, n the director of human resource dept of a big multinational addressed it also.
many of us might know tht a new dimension in accounting is evolving, called Human Resouece Accounting (HRA). i read an article abt it in DAILY DAWN atleast 2-3 yrs back. so i dont remember it exactly, but, the definition of HRA was given as HRA tries to evealuate the human resources, possessed by a company, in terms of $ amount ie monetary equivalence.
many of u might already know tht Unilevers Pakistan has just established a Day-Care centre for infant kids in the premises of the company!!! just to retain their valuable female members from resigning just bcoz of th kids
in short, HR r the most important resource of a company. many big companies have suffered bcoz of lack of good managers or inabilities of their workforce etc etc.
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FARHAN
live, n let live ...
salaam all,
dear friends, human resources r one of the most important asset for a company. the departments of HRM n personnel mgmt. r meant for managing all the affairs related to it. according to a survey report in USA, the managrs of HR get 70% of the entire salary budget of top US companies. [referrence personnel management by Flippo]
the CFO of johnsons&johnsons once said (i dont remember his name right now) that "... n the company with best business people will win ... " [reference same as above]
this highlights the importance of human resources. HR is considered to b intangible assets because it r the abilities n talent of the ppl (n not the ppl themselves) tht make the impact. company hires them for their abilities n exploits these abilities for the benefits of the company.
HR might not b considered in accounting exactly like other assets (eg cash) bcoz HR r non-material in nature. so they r not represented in any "accounts" form. rather, accounting treats them as an expense!!!! by creating payrolls, n salaries expenses, n etc etc etc. but the trend has started to change, specially in big multinationals.
i got to know from somewhere, in last few days, tht ICAP has arranged a seminar abt for highlighting the importance of HR n its utilization for benefits of company, n the director of human resource dept of a big multinational addressed it also.
many of us might know tht a new dimension in accounting is evolving, called Human Resouece Accounting (HRA). i read an article abt it in DAILY DAWN atleast 2-3 yrs back. so i dont remember it exactly, but, the definition of HRA was given as HRA tries to evealuate the human resources, possessed by a company, in terms of $ amount ie monetary equivalence.
many of u might already know tht Unilevers Pakistan has just established a Day-Care centre for infant kids in the premises of the company!!! just to retain their valuable female members from resigning just bcoz of th kids
in short, HR r the most important resource of a company. many big companies have suffered bcoz of lack of good managers or inabilities of their workforce etc etc.
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FARHAN
live, n let live ...
