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Outside firms are slicing off many of the typical HR services. Will internal HR departments disappear? How can HR departments make themselves essential?
HR should “own” productivity management and reporting yet it rarely resides there. Who in your organization has more expertise in the effective utilization of human resources?
World Economic Forum predicts 75 million jobs lost to automation by 2022. However, they predict that 133 million jobs will be created for a net gain of 58 million jobs. They also state that productivity improvement will be the watchword of the next 5 years!
Healthcare industry is labor-intensive. Productivity gains are critical. 2012 WEF report is revisited to examine its application to HR today.
One thought on “Financial Literacy: Test your knowledge of Productivity Measurement”
It is obvious, that an institutions financial awareness and responsibility ad to the quality of patient care, while for example, many non profit hospitals,(as an example), waste money by not being astute of all costs in operations. So, quality of care is best addressed with the best knowledge of cost per patient day, care, or modality. Wouldn’t this also make for a more “secure” and stable employer for it’s employees, especially if patient support departments were also operating at peak efficiency and providing great support for physicians.