Write 1 page essay on the topic Partnership between Department Manager and Human Resources.

Besides, they are best suited to give a critical assessment of each candidate.

Departmental managers are essential in recruiting employees in many ways. Firstly, they understand existing knowledge or skill gap within the organization at a better level, besides those stipulated for recruitment. Secondly, they handle the staff at department levels and are best suited to identifying best specific criteria in selection stage among a pool of qualified candidates (Buller & McEvoy, 2012). Also, they are a linkage to the overall organizational management and its strategic plans. Besides, they are involved in drafting organizational goals at the departmental level. Because of their expansive knowledge on strategic planning within a department and the entire organization, they are therefore best suited for selecting prospective employees (Oyer & Schaefer, 2011).

While HRM typical role of planning and coordinating workforce is driving force in hiring, the input from departmental heads is highly helpful (van Donk & Esser, 1992). Together with the HRM, departmental chairs are useful in matching employees skills to the job. Moreover, departmental heads understand dynamics and work-related issues. They are best suited for designing interviews guidelines and areas to assess knowledge and experience for a particular job in the department.

To recruit best-suited staff, the input from departmental heads cannot be overemphasized. They are best acquainted with operational management and specific skills needed for particular jobs from their departments. Building partnership helps tap the best staff for existing opportunities.

Van Donk, D.-P., & Esser, A. (1992). Strategic human resource management: A role of the human resource manager in the process of strategy formation. Human Resource Management Review.

Respond to the following questions:

ABC Corp. mines copper, with fixed costs of $0.60/lb and variable cost of $0.30/lb. The 1-year forward price of copper is $1.10/lb. The 1-year effective annual interest rate is 6.2%. One-year option prices for copper are shown in the table below.

Strike                 Call                      Put

0.9500        $0.0649               $0.0178

0.9750                 0.0500         0.0265

1.0000                 0.0376         0.0376

1.0250                 0.0274         0.0509

1.0340         0.0243                 0.0563

1.0500                 0.0194                0.0665

In your answers, consider copper prices in 1 year of $0.70, $0.80, $0.90, $1.00, $1.10, and $1.20.

1. If ABC Corp. does nothing to manage copper price risk, what is its profit one year from now, per pound of copper? If on the other hand ABC Corp. sells forward its expected copper production, what is its estimated profit one year from now? Construct a table for the two scenarios.
2. Assume the 1-year copper forward price were $0.90 instead of $1.10. If ABC Corp. were to sell forward its expected copper production, what is its estimated profit one year from now? What if the forward copper price is $0.60? Should ABC Corp. produce copper? Construct tables for the scenarios.
3. Using table, compute estimated profit in 1 year if ABC Corp. buys a put option with a strike of $1.00.
4. Using table, compute estimated profit in 1 year if ABC Corp. sells a call option with a strike of $1.00.
5. Using table, compute estimated profit in 1 year if ABC Corp. buys collars with the following strikes: $0.95 for the put and $1.00 for the call
6.  $0.975 for the put and $1.025 for the call
7. $1.05 for the put and $1.05 for the call