Importance of HR, Marketing, and Financial Departments in Companies' Collaborative Employment Practices

The article discusses the roles of HR, marketing, and financial departments in companies and the importance of cross-functional cooperation among them for effective employment practices. It also covers the features of marketing and the firm's cash administration and accounting function. The article cites relevant sources to support the discussion.

Business

Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
Hr Department Services' Role.....................................................................................................1
Features of Marketing..................................................................................................................2
The Firm's Cash Administration and Accounting Function........................................................2
HR, Advertising, and Financial Departments in Companies Cooperative Employment
Practices.......................................................................................................................................3
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................5

INTRODUCTION
Management services are the routines, procedures, and engagements performed out inside a
company to fulfil its objectives (Himawan, 2019). The purpose of the study is to assess the
importance of personnel resources, financial, and promotional efforts, as well as how cross-
functional cooperation among such various departments affects a company's effectiveness. HR
staff must assess employment needs such as educational qualification, abilities, competence, and
experiences in order to complete the vacancy. Because of the interconnectedness and
interdependence of divisions inside a company, cross-functional cooperation between divisions
is expected to enable judgement call.
MAIN BODY
Hr Department Services' Role
The Hr Division is in charge of personnel administration. This division's responsibilities
involve recruiting, employment, education, enabling worker health and safety and connections,
and salary distribution. Identifying the ideal people to meet an employment opening in an
organisation is what recruiting is all about. HR is in charge of imparting information and
improving the capabilities of prospective and current employees. The educational role is critical
to a group's ability to execute work roles while also keeping up with new technologies. Human
resource professionals are also in charge of remuneration that includes determining every
employee's pay based on their work category and productivity. Companies typically prepare
additional employee perks such as pensions, incentives, awards, as well as other perks (Kader,
Mulyatini and Setianingsih, 2019).
Remuneration is a sort of motivator that pays workers while also encouraging them to stay
with the company. Handling concerns, adopting corrective proceedings, providing healthcare and
security requirements, and arranging recreational events to foster connections between workers
are all part of worker wellbeing and connections. A crucial HR job is to handle worker comfort
requirements and relationships, with the goal of increasing variety and inclusiveness of workers
from all religions, races, nationalities, genders, and characteristics for harmonious cooperation
and cohabitation.

Features of Marketing
Marketing is the process of informing established and possible prospective clients
regarding a company's goods, operations, and presence. Marketing is more than just advertising;
it encompasses a variety of actions performed out by a company's marketing division. Industry
analysis generally comprises assessing the targeted industry's character and behaviour in order to
determine their characteristics and psychological demands. This research is carried out in order
to improve techniques of organizing products and activities in approaches that meet the
requirements of the targeted audience. In today's corporate world, digital networking advertising
is very important, and managers are responsible for generating visitors to the firm's homepage
and online networking platforms in order to improve the company's reputation and revenues. The
strategy division creates the marketing mix, which includes the 4 core P's that are price, product,
promotion, and place. The following phase is to design plans depending on the 4 combination of
marketing after doing marketplace study that advises managers regarding their targeted audience.
The firm's creation of innovative items is heavily reliant on sales data supplied by managers. The
marketing department tests innovative items on the marketplace to discover traits and elements
that must be included or withdrawn from the offerings based on industry recommendations
(Levin, 2017).
The Firm's Cash Administration and Accounting Function
Management is the division in charge of the company's long-term viability and
comprehensive operations. This sector is in charge of funds and oversees the management and
distribution of funds across all divisions. The systematic gathering, budgeting, managing,
regulating, and coordinating of monetary endeavours in a firm is referred to as fiscal
administration. The fiscal administration division is in duty of presenting a group's monetary
situation quarterly, yearly, or whenever the leadership board requests data for outcome selection.
This division is responsible for gathering, analyzing, storing, evaluating, and presenting market
reports, among other things. Financial activity comprises generating the funds required to run all
departmental tasks as well as determining where the funds would be send. The division seems to
be in charge of overseeing and regulating financial circulation both inside and beyond the
company. Another important function of the financial division is financial management, which
aims to reduce indebtedness build-ups by controlling transactions and recovering loans.
Estimating money necessary for developments, investment, and expansion in a firm is

component of accounting administration. Accounting executives are required to aid fiscal
sustainability by maintaining fiscal management over the company's protracted as well as brief
run objectives. Monetary instruments such as proportion evaluation, fiscal prediction, and
revenue and price management could be used to maintain fiscal management. Workers are
encouraged to receive monetary guidance from finance advisers in order to boost overall
earnings.
HR, Advertising, and Financial Departments in Companies Cooperative Employment Practices
The communication of group participants from other divisions inside the organisation is
referred to as cross-functional cooperation. Human resources, advertising, and financial
departments can collaborate through facilitating communication, talents, and concepts, as well as
educating one another. In order for HR to recruit personnel inside the firm, they must first confer
with the finance division to determine the availability of cash for wage distribution. Recruitment
operations can be scheduled depending on financial inflow as the company's income rises, as
well as the necessity to employ additional workers. As a result, HR must coordinate with the
financial department to develop a recruitment and remuneration strategy. Personnel investing
operations like development, advancement, and compensation are performed out by HR in strong
collaboration with the financial division (Mekonnen and Larner, 2018). Financing and competent
talents are required for promotional operations such as investigation, creation of fresh solutions
and goods, and commercials. Administration might exchange budgetary information and educate
other sectors, such as human resources, in financial administration to assist them with improved
financial collaboration and capacity construction practices. The advertising department and
personnel resources might share expertise regarding personnel administration abilities that may
be helpful in analyzing consumer patterns. Via discussion between group participants, cross-
functional cooperation is a tactical technique for addressing issues quicker, exchanging
information, and enhancing the productivity of taking important choices.
CONCLUSION
From the above it can be concluded that company units cohesively operate collaboratively
for accomplishing a shared corporate objective. The personnel resources department is primarily
concerned with the recruitment and administration of individuals inside the business in order to
carry out the job operations. The advertising role involves using adverts to promote company and

product understanding. Fiscal leadership and disclosing are important for addressing and
preparing a company's monetary operations.

REFERENCES
Books and journals
Himawan, A.F.I., 2019. Digital marketing: peningkatan kapasitas dan brand awareness usaha
kecil menengah. Jurnal Analisis Bisnis Ekonomi, 17(2), pp.85-103.
Kader, M.A., Mulyatini, N. and Setianingsih, W., 2019. MODEL PEMASARAN DIGITAL
MARKETING FB_Ads dan EMAIL MARKETING DALAM MENINGKATKAN
VOLUME PENJUALAN. Jurnal Ekonologi Ilmu Manajemen, 5(2), pp.299-305.
Levin, R.P., 2017. Commentary: Online Reviews and Other Digital Marketing Strategies.
Journal of periodontology, 88(2), pp.135-136.
Mekonnen, A. and Larner, L., 2018. “Exclusivity Dared”: Impact of Digital Marketing on
Luxury Fashion Brands. In Digital Marketing Strategies for Fashion and Luxury Brands
(pp. 165-177). IGI Global.