The role of the HR department has become increasingly complex in the past few years. Even in small to mid-sized businesses, the range of areas that the HR department is expected to cover has expanded significantly.
With that increase in complexity and range has come a new problem – the need to contain costs. The areas that the HR department is now responsible for have become significant cost centers within the organization. As a result, it is important that the CFO becomes much more involved in what’s going on within HR, as it starts to have more of an impact on the company’s bottom line.
This document focuses on the three main areas within the HR department where the need for cost containment can be easily identified and significant savings can be made.
• Eradicating benefit errors
• Managing attendance
• Automating compliance
