Monetizing HR: A single word changes everything, or does it?

Monetizing HR: The First in a Series

These days most people are fluent in Corporate Acronym, the shorthand language of doing business or having a job. Indeed, if you have employees of any sort then they almost surely started with the HR Department, aka Human Resources. Whether you are the owner of a business with two employees or CEO of a medical conglomerate with 15,000 people, HR is HR. Of course, that's the shorthand shortcut. HR actually stands for Human Resources, the definition of which is, according to Google:

 

hu·man re·sourc·es

noun

plural noun: human resources

1.

the personnel of a business or organization, esp. when regarded as a significant asset.

 

 Employees as significant assets? Does any Senior Executive really believe that at their core? Do they treat their employees as they would a valuable but perishable business asset? To smart C-Level Executives, the answer is yes. But that's not the point here; rather, it's the irony. Because when people refer to 'HR', they are not referring to the employees themselves but to the Human Resources Department, and very often the HR Department is viewed more as a necessary evil than as a positive companion in doing commerce. It is one of the reasons, if not the biggest reason, for companies bleeding revenue. 

So, what is the definition of 'Human Resources Department'? According to the Encyclopedia at Entrepreneur.com, it is:

 

Definition: The department or support systems responsible for personnel sourcing and hiring, applicant tracking, skills development and tracking, benefits administration and compliance with associated government regulations 

 

Adding the word 'Department' changed everything; this definition bears little resemblance to the first one. Assets are valuable because of their monetary value, but verbs such as 'sourcing', 'tracking', 'administering' and 'complying' are not usually associated with increasing revenue. Human Resource Departments do not increase revenue because they are not designed for that purpose, they bleed revenue because they are sourcing, tracking, administering and complying with the company's employee assets. Human Resource Departments are a necessary evil in the 21st Century business environment. They do not sell more product or encourage greater volunteer participation or increase efficient handling of patients, because that is not their intended function, right?

That depends on who you believe. 

Next:  Reconciling the definitions to make more money