What is an HR Business Partner and What Do They Do?
An HR business partner can help make sure you are hiring the right people for the right positions. They’ll also help identify what positions you need, what positions need to be created, and what positions need to be moved or eliminated.
Professional Titles for Business Owners
There is a large variety of business owner titles that the head of an organization can use to call themselves. Choosing the most appropriate one typically depends on the size of your company, the type of services your company provides and the management structure. Having an appropriate business owner title can give potential clients and partners important information regarding the company size and structure.
In this article, we discuss some of the most widely used company owner titles and the most appropriate use for each to help you decide which is best for your situation.
What is an HR Business Partner?
An HR business partner is a senior professional focused on using human resources to help a business unit succeed. In dealing with hiring, for example, an HR business partner may work with executives and business unit leaders to develop a plan for what types of candidates to recruit, interview, and hire to increase diversity or bring new skill sets into the company.
According to the Society for Human Resource Management, there are some notable differences between the role of HR business partner and other HR roles, like HR manager or director.
Because HR business partners are expected to take on a strategic role, they tend to command a higher salary than other human resources roles. Estimates for an HR business partner’s average annual salary range from $85,000 to $103,000 , compared to a range of $71,000 to $78,000 for an HR manager and $53,000 to $58,000 for an HR generalist. However, both Glassdoor and Indeed estimate an HR director’s annual salary to be higher, at $98,000, along with the potential for an annual bonus of up to $10,000.
Interested in becoming a strategic business partner in your organization?
What is an HR business partner responsible for?
There are many possible duties that may fall under an HR business partner’s job description, depending on the company and the situation. However, these three best describe what most of these individuals will be doing in that role.
1. Developing an overarching HR strategy
This strategy may be centered around boosting worker productivity, changing the compensation and benefits structure, or simply realigning the current workforce in a more efficient way. They can also tell you what organizational structure types are best suited for your business.
2. Evaluating and managing staff
It’s one thing to craft an overall strategy, but another to put in place a realistic plan to make that happen. An HR business partner must evaluate the staff and come up with a plan to manage them in a way that will ensure the organization achieves the goals set forth in the HR strategy.
They might also develop an onboarding checklist to smooth the transition for a new employee — after all, one survey found that 53% of HR professionals found that a better onboarding experience meant better employee engagement.
3. Improving recruitment
A vital part of any HR strategy involves talent management and talent acquisition. An HR business partner must be capable of bringing in excellent new employees who can help take the organization to the next level.
The partner should meet with department heads and evaluate current recruitment efforts in order to come up with a plan that will ensure the organization is able to fill all of the positions that the HR strategy calls for.
The individual should also be able to improve employee retention and reduce your turnover rate so the good workers you bring in don’t bolt for better opportunities after just a year or two.
Defining Business Partner Role Categories
In this step, we’ll configure a new business partner role category for vendors of high-value purchases by copying from the standard available business partner category FLVN01. A business partner role category is the highest level of business partner in which various business partner roles are created for an organization, a group, or a person.
To define business partner role categories, follow the menu path Cross-Application Components > SAP Business Partner > Business Partner > Basic Settings > Define BP Roles.
The figure below shows the list of available business partner role categories, including the standard business partner role category FLVN01, which is used in the purchasing process.
Select FLVN01 in the Role Cat. column, click on Copy As., and create the new BP Role Cat. as ZHVPRC, as shown here:
Maintain the Title and Description fields of the new business partner role category ZHVPRC. The Diff. Type field (differentiation type) is the controlling field, that is, the field that controls the types of data or the screens available while creating a new business partner of this specific business partner role category. Type 0 will enable maintenance of general data of a business partner. Type 2 will bring up purchasing-related fields, tabs, and screen of a business partner for data maintenance, while type 3 will enable maintenance of sales area data, wherein a business partner is a customer. You can also control which or all of the three business partner categories, that is, organization, person or a group is allowed for a particular business partner role category by selecting the relevant checkboxes.
Disadvantages of a Partnership
In examining the advantages and disadvantages of a partnership, it’s important to pay particular attention to any possible disadvantages. Let’s take a look at some of the downsides of a partnership.
1. Liabilities
In addition to sharing profits and assets, a partnership also entails sharing any business losses, as well as responsibility for any debts, even if they are incurred by the other partner. This can place a burden on your personal finances and assets. Basically, you may be responsible for decisions your partner makes in connection with the business. In looking at the advantages and disadvantages of a partnership, this may be one of the top issues to consider.
2. Loss of Autonomy
While you likely enjoy being in total control of your business, in a partnership, you would now share control with a partner and important decisions would be made jointly.
When you start exploring the advantages and disadvantages of a partnership, ask yourself this: Are you able to compromise and relinquish certain ways of doing business, if you have to? This may require a change in mindset, which may not be easily maintained over the long haul. If you’ve worked on your own for a long time and are used to being independent, you may find it stressful when you can’t continue to do things your own way.
3. Emotional Issues
A host of issues can surface that may make working with a partner difficult. For example, conflicts can arise from differences of opinion or from unequal effort put into the business. One partner may not pull his or her own weight. Relationships can sour. Don’t discount the emotions in weighing the advantages and the disadvantages of a partnership.
But you may be able to prevent emotional problems by carefully choosing who you partner with, looking for someone who shares in your vision, who has values similar to yours, who has the same work ethic and where the chemistry is right. This can go a long way towards preventing unexpected problems.
References:
https://www.indeed.com/career-advice/career-development/business-owner-titles
https://www.northeastern.edu/graduate/blog/what-is-an-hr-business-partner/
https://www.fool.com/the-blueprint/hr-business-partner/
https://blog.sap-press.com/how-to-configure-a-business-partner-in-sap-s/4hana-for-mm-purposes
https://www.americanexpress.com/en-us/business/trends-and-insights/articles/what-are-the-advantages-and-disadvantages-of-a-partnership/
No Comments