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Finance for HR Professionals

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This program teaches how to:

Human Resources and Finance are often perceived as opposite functions. They don’t speak the same language – HR understands the language of people and its impact, while finance understands the language of numbers and ROI. Their core values are different too – HR values people as their best asset, while finance values assets that can be easily quantified.
To bridge this gap, it is important for HR Professionals to gain an insight into financial concepts and methodologies. An understanding of Finance can also help HR better manage its own financial resources as well as determine how it can contribute towards the overall value creation efforts of the business.

Topics:

  • Overview of Business purpose and Lifecyle:
    • Purpose of a business
    • Business lifecycle and value creation
    • Relationship between operational functions
    • How Finance and HR view each other
  • HR’s role in the Business:
    • HR function and the human resource diaspora
    • HR’s context within the organization
    • HR objectives and aims
    • Structure of the HR function
  • Insight into Financial Statements:
    • Financial terms, concepts & regulations
    • The Income Statement
    • The Balance Sheet
    • Cashflow Statement
    • Where and how does HR feature in the Financial Statements?
  • HR-specific Financial Metrics and Measurements:
    • What costs and benefits to consider?
    • Employee Lifecyle costs
    • Deriving the financial information/data
    • Tangible & Non-tangible costs
    • Tangible and non-tangible benefits
    • Measuring ROI – Ratios, KPIs, tools and techniques
    • Measuring effort & productivity in financial terms
  • HR Budgeting:
    • Structuring the HR budget
    • Identifying cost drivers
    • What costs should be included
    • Developing the budget
    • Monitoring & Control tools & techniques

Course Summary:

  • To ensure that the concepts are sufficiently understood
  • To address any lingering issues

Target Audience:

All HR personnel

Course Curriculum

No curriculum found !

Instructor

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