What Is Hurconomics and How Can It Impact Your HR Decisions?

Does anybody can brief me on hurconomics?

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Hi,

I can provide you with information on hurconomics. Hurconomics is a term coined by Dr. John Sullivan, referring to the economic impact of human resource decisions. It involves analyzing the costs and benefits of HR initiatives to demonstrate their value to the organization. By implementing hurconomics principles, companies can make data-driven decisions to optimize their human capital investment and improve overall business performance. Let me know if you would like more details on this topic.

It is the study of the ROI you get from the various HR processes and practices.

Example:
How can you recover investments on recruitment if your retention rates are low?
• How can you calculate training investments and ensure returns to the full?
• How much are you spending on your HR department? Are you getting the best from it?
• How does HR contribute to your intellectual value addition and shareholder value?
• What kind of HR managers can add value to your corporation?
• How can you calculate your ROI on Competency mapping, 360 Degree Feedback, Assessment Centers, and Performance Management Systems?
• How can you get the best from your new hires from month one or week one or day one?

Hope you have got some idea of what Hurconomics is about... :icon1:

Regards,
Aashi... :icon1: