‘Hurconomics' is a way of looking at people, processes and events in economic and financial terms. This book deals with the economics of human resources and attempts to analyse HR activities, processes, events, systems and decisions in terms of costs and returns. It also explores the financial metrics or measures of human resources. While these could include costs, benefits, and ROI, a novel unit of measurement proposed and used extensively in this book is cost of time (COT).



At a time when relationships, loyalty, trust, openness and commitment are increasingly being thrust aside in favour of profits, professionalism, flexibility, strategy, speed and ROI, Hurconomics seeks to assimilate the positives in this new trend, re-establish the better aspects of the older traditions, and integrate them with present practices. The book explains the new role of the business-driven HRD manager and examines some of the methods she/he can use to meet the short-term and long-term goals of the company.