Scenario 1.5: HRM Challenges-Outsourcing

question 38

Multiple Choice

Scenario 1.5: HRM Challenges-Outsourcing
Over the past decade CIBC,BMO and RBC financial groups have outsourced some of their human resource services.Recently RBC has brought back several of their HR-related services in-house.
-Please refer to Scenario 1.5.Why would these financial groups outsource their HR services?

• A)to grow the organization
• B)to improve customer service
• C)to allow HR to focus on strategic planning
• D)to reduce compensation costs

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Definitions:

Unsecured Creditors

Creditors who have provided credit without obtaining specific collateral as security for the loan or credit extended.

Secured Party

An individual or entity that holds an interest in a debtor's property as security for a debt, giving them claims over the property if the debt is not paid.

Creditor

An individual, organization, or entity to whom money is owed by a debtor.

Security Interest

A security interest is a legal right granted by a debtor to a creditor over the debtor's property as collateral for a loan.