Nowadays, being a qualified professionals in what you specialise in is not enough; but there has to be a global vision of the functioning of the company. However, there are still many organisations whose departments operate as if they were independent islands. What can be done to achieve synergy between finance and human resources?
Before jumping the track, every player knows what their final objective is: to win
What determines whether a company is operating and achieving its objectives within its business plan is the appropriate coordination of its processes and the effective performance of activities within its main fields, especially including the departments of Finance and Human Resources.
They often work together as one department, and at other times work separately, but in either case, both act in the interest of achieving the organisation’s objectives. On the one hand, Finance secures funds and provides the required capital; on the other hand, Human Resources recruit and maintain a suitable group of people. Well, that’s the theory!
Yet, in order to win, it is better put aside personal challenges and play as a team:
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Thanks to your position and owing to the fact that you are frequently in direct contact with business owners and entrepreneurs, you are cognizant of the financial and administrative requirements of both fields.
Finance, which is under pressure from all types of official organisations, as well as banks and their controlling companies, deals with national and international standards, operates subject to time limits and is completely exposed to surcharges and penalties, applying the budget without concessions and with very little diplomacy and tolerance.
Human Resources, mired in drawn-out recruitment procedures, with little success and too many confidentiality requirements, face a growing employee turnover due to the lack of incentives. They also try to prevent unfair treatment and intervene in disputes between personnel and management, very tactfully easing labour relations. However, due to the low budget, there is very little room for negotiation.
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Neither of the two tasks is easy and putting the previous theory into practice can turn out to be very difficult.
Therefore, in such cases, it is necessary to have a third party mediator, who is responsible for arbitrating disputes, easing relations, and translating the language of both departments so that they understand each other and coordinate their needs without losing sight of the ultimate objective of both HR and Finance.
From its position as an external collaborator, with an unbiased view, the mediator applies its knowledge and makes use of its extensive experience. This way brings HR and Finance together, achieving both contenders emerge as winners and ensuring that all members of the company are working towards a common goal.
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