Scribd
Upload
11 views1 page

The Human Resource Management and Payroll Cycle (Part 1)

Uploaded by

Jasmine Gabiana
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
11 views1 page

The Human Resource Management and Payroll Cycle (Part 1)

Uploaded by

Jasmine Gabiana
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 1

The Human Resources Management and Payroll Cycle

Human resources management (HRM)/payroll cycle – The recurring set of business activities and data
processing operations associated with effectively managing the employee workforce.

The more important tasks include the following:

1. Recruiting and hiring new employees - Recruitment and selection in HRM is about finding the
right talent for the right position at the right time. Though it is a cost and time-intensive process,
if done correctly will save you time and money, foster business growth, improve your
reputation, and increase productivity.

2. Training - When it comes to Human Resource Management (HRM), training are crucial if a
company wants to get the most out of its employees. Training is a critical for the organization's
succession planning since it aids in the development of skills such as team management and
leadership.

3. Job assignment - the set of tasks specified for a particular role, and stipulates the duties and
responsibilities of an employee within [an organization

4. Compensation (payroll) – Compensation is broader than pay as it includes all of the benefits and
perks that companies provide to employees on top of income. Payroll typically involves
payments of regular salary and wages, commissions and bonuses.

5. Performance evaluation - is a multifaceted process that contributes to individual and


organizational growth, alignment of goals, motivation, and overall effectiveness. It plays a crucial
role in managing and improving the performance of both individuals and the organization as a
whole

6. Discharge of employees due to voluntary or involuntary termination - Termination may be


voluntary, as when a worker leaves of their own accord. Involuntary termination occurs when a
company downsizes, makes layoffs, or fires an employee.

knowledge management systems - Software that stores and organizes expertise possessed by individual
employees so that the knowledge can be shared and used by others.

You might also like