Most people overlook the importance of the human resources department and assume its primary purpose is to distribute paychecks. However, the scope of human resources (HR) management goes far beyond making sure employees are paid. In fact, HR managers are responsible for overseeing department responsibilities including the hiring process, succession planning, company compliance with labor laws, employee benefits, harassment claims and more.
Without employees, a business would come to a halt; and without human resources, a business would have no employees. Now more than ever, businesses are turning their attention toward improving their human resources departments, which means there are more job opportunities in HR management.
What Is the Job Outlook in HR?
As our society becomes more socially conscious, companies are working hard to take care of employees. The pandemic has added further complexity to employees’ lives, workplace environments and nearly every aspect of business management and operations.
HR managers are experts in organizational behavior, employee motivation and company culture development. A report from the Society of Human Resource Management (SHRM) found a strong correlation between positive workplace cultures and a workforce’s ability to cope with the pandemic. With expertise in these and other essential areas, HR managers are instrumental in helping businesses navigate challenging disruptions like the pandemic with agility and integrity.
Simultaneously, as the American economy continues to rebound, organizations are growing and therefore requiring larger human resources departments. Plus, job seekers are more selective than ever, and competition for talent is fierce. The new dynamic means employers are focusing on developing strong human resources departments led by competent HR managers.
According to the U.S. Bureau of Labor Statistics (BLS), the human resources management field is expected to grow by 9% between 2020 and 2030. This growth rate equates to a substantial 14,800 new jobs by 2030 for skilled and highly qualified HR managers. Altogether, the job market offers good news for HR managers and those aspiring to enter the field.
How Much Can I Earn Working in HR Management?
HR management jobs are broken into tiers of supervision. These tiers may include positions like HR specialist, HR generalist, HR manager, HR director and vice president (VP) of HR. BLS reports that the median annual salary of human resources managers was $121,220 in 2020.
Yet salaries logically vary due to a professional’s role in the HR hierarchy. According to February 2022 data from PayScale, the following are average annual salaries of various HR positions for professionals with a Master of Business Administration (MBA) degree:
HR specialist: $52,676
HR generalist: $57,861
HR manager: $72,175
Director of HR: $95,380
VP of HR: $139,579
Earnings also vary by region. For example, December 2021 figures from Indeed show that VPs of HR in San Francisco, CA earn over $35,000 more annually than VPs of HR in Orlando, FL. Bonuses, profit sharing and other forms of compensation can add substantially to income levels for HR managers.
How Can I Get Into HR Management?
To qualify for the numerous HR management jobs available today, you need the proper education. HR managers are responsible for overseeing entire departments and the crucial tasks that allow businesses to function efficiently and legally. Before stepping into the role of an HR manager, you will need leadership and financial management skills as well as an understanding of organizational behavior and an in-depth knowledge of human resources functions and operations.
The University of Southern Indiana’s online MBA with a concentration in Human Resources program prepares students for high-level HR management jobs. In addition to core business courses on subjects like leadership skills, financial management and accounting, degree candidates also take specialized courses in human resources. These include classes such as: Legal and Social Environment of Business; Managing Human Capital; and Data Driven Decision Making. The MBA in HR curriculum is designed to prepare you for success as a human resources manager.
A human resources department has the ability to make a powerful impact on the quality of life of an organization’s employees. In particular, HR managers ensure that employees are well taken care of, receive their due benefits and compensation and feel comfortable and safe in the workplace. With such important responsibilities to shoulder, HR managers are compensated well and enjoy the satisfaction of knowing they make a difference in people’s lives. Join this growing workforce and see how much of a difference you can make.
Learn more about the University of Southern Indiana’s MBA – Human Resources online program.
