Human resource & financial management- Two sides of a coin
MBA in HR Management addresses issues related to the most integral part of any organization. Human resources are extremely valuable assets when in comes to motivating employees and maintaining an organizational culture of high morale. Human resources are directly responsible for increasing employee knowledge, skills and abilities. Small to medium-sized enterprises (SMEs) often struggle with operational challenges during their growth spurt. Human Resource managers are trained to leverage their talents for organizational benefits and empower employee while doing so. High level of knowledge, skills and abilities among the employees is important for them to perform effectively. Owing to the education they get in their post graduate study programs, HR managers become capable of eliminating the process kinks.
The financial aspect of the Human Resource Management is a thought to develop a new approach or a discipline to cope up with issues in enterprises related to financial aspects. It is a process of placing right person at right place and at right time for taking financial decisions based on the data collected by accounting. Human Resource Management keeps its prime focus on the development of human resource whereas the financial management knowledge students get in the program canalize the investment and expenditure of any firm for maximizing its profit. Both the discipline effectively fulfill the objectives of the others which is to optimize the efficiency of the human resources so that the investment made on the human resource can be reaped. Succeeding in that promotes a higher level of motivation and job satisfaction.
Finances play a very crucial role in that process. A proper compensation to the employees that generously drives a job satisfaction can help the company in reaching to the optimum level. As a result of that, a general rate of inter-company engagement is on a higher level of motivation. The perfectly complimenting nature of both the aspects can help the managers deal with the unexpected hurdles in the the business cycle. The collective approach of Human Resource Management & MBA financial management enables the management in taking decisions which are best suited for the enterprise & employees altogether.
The quality of both of these academic disciplines is subjective to the source of training candidates receive during their master academia. Since the nature of both the fields, even though projected towards a collective improvement of the company, is very distinct from each others; it requires a certain kind of fortitude to inculcate the knowledge pegs within the future managers. So in general sense, it is expected from the educational institutes who offer these courses to have a record of proficient pedagogy & an impressive alumni to support it. Thus, it is advised that aspiring managers look into the history & the tradition of educational excellence.