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- Title
Better Hires, Less Waste: A Potential Profit Bonanza.
- Authors
Koch, William D.
- Abstract
The article discusses the critical aspects of personnel cost as a part of business profitability, human resources management and labor turnover. Chief financial officers are becoming increasingly aware of the need to properly manage personnel. Employees are noted for the financial strain they can bring to an organization when they underperform. Personnel costs are evaluated extensively to include costs associated with hiring, recruiting, interviewing, testing, termination costs, insurance, management, underperformance and training.
- Subjects
LABOR costs; PERSONNEL management; EMPLOYEE selection; LABOR productivity; CHIEF financial officers; PROFIT maximization; LABOR turnover; LABOR economics; BUSINESS planning; HUMAN resource accounting; EMPLOYEE recruitment; ECONOMICS; MANAGEMENT; EMPLOYMENT
- Publication
Financial Executive, 2006, Vol 22, Issue 4, p29
- ISSN
0895-4186
- Publication type
Article