What Are the Basic Functions of the Human Resource Phase

question 55

Essay

What are the basic functions of the human resource phase in the HR management and payroll cycle and what is its objective? Explain.

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Definitions:

Financial Risk

The possibility of losing money on an investment or business venture, including the risk of not receiving expected returns.

Financial Distress Costs

Expenses stemming from a company's financial troubles, including the costs of bankruptcy, restructuring, and impaired ability to conduct business.

Indirect Bankruptcy Costs

Indirect bankruptcy costs include the intangible costs related to the loss of business, customer trust, and employee morale that a company faces when going through bankruptcy.