In order for companies to running smoothly and efficiently, collaboration and trust between Finance and HR is absolutely critical. Unfortunately, the former doesn’t seem to have much trust in the latter.
That’s evidenced by the “Employee Benefits Barometer: SMB Perspectives and Priorities in an Era of Disruption,” a recent study by Hub International Limited (HUB) that polled more than 400 senior-level human resource and finance executives at companies with between 50 and 1,000 workers.
Little faith in HR
While 78% of Finance does consider HR a strategic partner, many Finance pros don’t seem to consider their peers in the human resources arena a competent partner.
Case in point:
- 32% of finance execs expect HR to go over budget
- 34% expect the department to mismanage ACA reporting, and
- 35% foresee their companies paying IRS audit penalties as a result of that mismanagement.
Below is an Infographic that HUB put together based on its report: