Explain the Integration of Payroll with the Human Resource Management

question 68

Essay

Explain the integration of payroll with the human resource management (HRM)system that often happens in moderate- and large-sized organizations.

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Definitions:

Variable Cost

Costs that change in proportion to the level of goods or services produced by a business.

Accounts Receivable Approach

The accounts receivable approach is a method used in financial analysis to estimate the impact of credit sales and receivables on a company's cash flow and profitability.

Net Present Value

Net present value (NPV) is a financial metric that calculates the difference between the present value of cash inflows and the present value of cash outflows over a period of time, used in capital budgeting to assess the profitability of an investment.

Cost Of Switching

The cost of switching refers to the expenses and inconveniences a customer or company faces when changing products, services, or suppliers, including termination fees, setup costs, and time.