Most people overlook the importance of the human resources department and assume its primary purpose is to distribute paychecks. However, the scope of HR goes far beyond making sure employees are paid. In fact, HR managers are responsible for overseeing department responsibilities including the hiring process, company compliance with labor laws, employee benefits and healthcare options, 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 as a whole becomes more socially conscious, companies are working hard to take care of employees. Simultaneously, as the American economy continues to rebound, organizations are growing and therefore requiring larger human resources departments. This means employers are focusing on developing strong human resources departments led by competent HR managers.
According to the United States Bureau of Labor Statistics (BLS), the human resources management field is expected to grow by nine percent between 2016 and 2026. This growth rate is faster than average. The BLS expects the field of human resources management to add 12,200 by 2026. Altogether, the job market offers good news for human resources 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. They typically include positions such as HR manager, HR director, HR generalist, HR specialist and vice president of HR, though each organization may customize the titles and hierarchy. According to January 2018 figures from PayScale.com, human resources managers earn between $43,607 and $90,832 per year. HR directors fare slightly better, earning $51,640 to $130,566 per year. On the higher end of the spectrum, a vice president of HR may earn between $85,668 and $195,435 per year.
The BLS reports similar figures, stating that the median salary for human resources managers in 2016 was $106,910 per year. According to Indeed.com August 2016 data, an HR manager generalist in Indiana earns an average of $72,000 per year. HR manager generalists in states with booming business industries may earn slightly more. For example, HR manager generalists earn an average of $80,000 per year in California and $90,000 in New York. If you are looking for an occupation that will allow you to help others, build a strong organization, and earn a comfortable living, human resources management may be the perfect fit for you.
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 the business to function efficiently and legally. Therefore, before stepping into the role of an HR manager, you will need the necessary skills for leadership and financial management, as well as an understanding of organizational behavior and an in-depth knowledge of human resources functions and operations.
At the University of Southern Indiana, the online Master of Business Administration in Human Resources program prepares students for HR management jobs. In addition to core business courses such as MNGT 611 Leadership Skills and Innovation and FIN 601 Financial Management and Markets, you will also take specialized courses in human resources. These courses include BLAW 618 Legal and Social Environment of Business, MNGT 601 Managing Human Capital, and MGNT 681 Strategic and International Management. The MBA in human resources 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, human resources 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.