ENTREPRENEURS TEND TO START MANAGING HR DIRECTLY. WHY SHOULD I INCUR COST ON HR, UNTIL THERE ARE ENOUGH PEOPLE TO MANAGE?
By Naveen Coomar

Two things we must understand clearly. One is opportunity cost of managing a function vis-à-vis return that one could get by focusing on another function. Second, an owner must keep a tab on everything to do with ‘people’. All business is about people and people alone and therefore the entrepreneur keeping a tab on people practices is a very good strategy. Having said that to manage transactional people practices and policies, a professional person is very handy.

It is a very useful strategy for an entrepreneur to do the following:

  • Keep people practice monitoring with himself
  • Engage a junior professionally qualified person to handle people transactions
  • Consider and engage a senior people practitioner, on a retained consulting assignment
There is a cost to hiring people practice professionals but not hiring them could be far costlier. All business is about people. If you have right people doing right things, positive business results are a simple by-product.

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