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The HR department has multiple responsibilities and plays an integral role in the smooth and efficient functioning of a company.
Fremont, CA: Assessments are an essential part of every organization. It helps business leaders identify where the company is slacking off and make changes to improve the same. The overall performance of the company can be altered with the right kind of assessments. As a result, these assessments must cover all aspects of the company. The HR department has multiple responsibilities and plays an integral role in the smooth and efficient functioning of a company. As a result, the HR teams’ assessment needs to be well thought out.
The 360-degree feedback review is one of the most popular methods of assessment in the HR realm. In this method, the HR manager and the evaluation in charge are required to collect feedback on an employee’s performance from every individual in the office affiliated to them. The employee’s peers, reports, direct managers, and managers from other departments that the employee conferred with on a project, are all asked for their feedback on the employee’s performance, their work ethic, their deliverables, general competence, and their behavior. This system helps ensure that multiple points of view are taken into consideration for a holistic report from in-house and remote working staff. Also, it gives a better understanding of how an employee works in the company.
This method takes the HR assessment outside the boundaries of the office, often to a central location where managers, assessors, and employees can gather. In the assessment center method, employees are required to perform a series of tasks or are grouped to perform tasks. This method was first created by the German army in the 1930s and has since been adapted for modern development. This method allows the examiners to assess very particular work-related skills that employees and applicants will need in a company by giving them exercises, conducting workshops, role-playing games, and simulations.
HR Cost Accounting
Just like capital and machinery, employees are also a valuable asset to the company. From this point of view, there needs to be an account of how much it is going to cost to maintain human resources and what kind of labor output is being gained in the process. Under the HR cost accounting method, HR managers are required to look at how much is being spent on individual employees’ training, compensation, and development. What are the costs paid on recruitment drives, resource planning, training, and orientation? Managers then need to be able to balance these costs against the productivity of the employees and whether the training and development programs have resulted in higher yield for the company.