The Creation of New Human Resources Assistant Position - Essay Example

The Human Resources Department of the college has a vital role in envisioning the future needs of the college and necessary changes in the present. As it is a complex job, there should be a position that continuously monitors, plans and introduces new methods for moulding students as future citizens. It helps the college achieve sustainability.
The creation of a new Human Resources Assistant Position involves the financial department of the college to provide necessary funds for the position to pay the salary and other benefits. It also requires to be planned how the funds should be granted to this position. Usually, the remuneration of the new Human Resources Assistant will be met from the regular income of the college. As it is not a huge investment, it does not call for any external help for financing the job. However, it is essential to consider whether the newly created position will help the college to gain financially. The basic reason why this new position is created is to gain a competitive advantage for the college in the education market. That can be achieved only with effective management and decision making skills of the senior authorities who take decisions. As the college is an autonomous and independent body there will be few regulations to monitor the decisions. There is every scope for the decision-maker to act according to his wishes without being questioned by anyone. Here it is noteworthy the words of Chung, who made the following comment reviewing the book by Roe.
The dispersed structure of enterprise ownership enables managers to be in a power position without counterbalance and monitoring. Roe implies that inappropriate managerial decision making is a reason for the weak competitive edge of American corporations today. (Chung. C)
It is difficult to estimate how this newly created HR Assistant position will benefit the college financially. The project of creating a new HR Assistant position will have an advantage in the long run. As the objective of the project is to take sustainability as the core value and creating a competitive advantage for the college, estimating the financial benefits from this project is a challenging task. It is because there are several factors that influence the expected value of the project. Talking about the evaluation of project duration, T. Arnold, and D. North say:
Although a given project may have a better-expected value, the vulnerability of the project valuation to parameter/discount rate changes may make it less appealing when compared to another project of lesser expected value with more robust parameter/discount rate estimates. More simply, project duration (convexity) and project parameter duration (convexity) provide metrics to assess project forecasting error without additional complex scenario analysis that can be difficult to interpret. (Arnold and North)
While evaluating the benefits of the project and calculating the project cost, it is essential to note how domestic institutions are influenced by international financial organizations. Undoubtedly, the decisions of many of the domestic institutions are influenced by the trends and policies of the global financial markets. In an interesting study on how domestic institutions are under the influence of global financial markets, Deeg and Perez go on to say that
One of the prevalent notions held today by political economists is that change in domestic institutions over the past two decades has been driven largely by the pressure of international market integration. The rise of global financial markets and the increase in cross-border capital flows, which have accelerated dramatically in the past two decades, are seen as being particularly important in this regard. ( Deeg and Perez)
The compensation to the HR assistant will be based on his qualifications and experience depending on the availability of the quality of manpower. As the present market is in a downtrend, it is expected that a qualified and experienced HR Assistant will be available for the competitive salary in the industry.
His salary shall include benefits like basic salary, house rent allowance, local conveyance, incentive for attendance/quality of work shown, Contributory Provident Fund, Gratuity, Insurance, Medical expenses reimbursement, Leave travel concession, etc.
The costs to the college by creating the new position will be more than the salary and other benefits paid to him. Among the things that cost the company would be the establishment expenses for the newly created post, the cost of identifying, selecting and recruiting the HR Assistant etc.