Management >> Human Resources
Finance for HR Professionals
MH512
Location
Duration
Date
Fee inclusive of VAT
Course Overview
Financial awareness is vital for HR professionals in modern organizations. This course empowers HR specialists to participate confidently in financial discussions, manage budgets effectively, and align HR strategies with organizational financial goals. Designed for HR personnel aiming to bridge the gap between HR and finance, the course provides essential knowledge to influence strategic decisions and enhance departmental performance through sound financial understanding.
Course Objective
- Understand and apply key financial concepts relevant to HR functions.
- Prepare and manage HR budgets aligned with organizational goals.
- Analyze and interpret financial statements for informed decision-making.
- Evaluate the financial implications of HR strategies and initiatives.
- Comprehend compliance issues and communicate HR’s financial impact effectively.
Who Should Attend?
- HR Managers and Business Partners
- Compensation & Benefits Specialists
- Talent Acquisition and HR Analysts
- Managers from other departments with HR oversight
Course Outline
Module 1: Understanding Company Finances
- Measuring company performance
- Importance of financial knowledge for HR
- Key financial terms and concepts
- Core financial metrics relevant to HR
Module 2: Exploring and Interpreting Financial Statements
- Income statement analysis: revenue, expenses, profitability
- Balance sheet components: assets, liabilities, equity
- Cash flow statement insights
- Costing and budgeting basics for HR
Module 3: The HR Budgeting Process
- Types of budgeting approaches
- Common budgeting challenges
- Elements and steps in HR budget preparation
- Forecasting HR-related expenditures
Module 4: Making Financially Sound HR Decisions
- Aligning HR and organizational financial goals
- Evaluating financial outcomes of HR actions
- Cost-effective HR strategies
- Financial metrics to support HR initiatives
Module 5: Legal and Compliance Considerations
- HR-relevant financial regulations
- Data privacy and financial security
- Audit and compliance in HR financials
- Effective financial communication with leadership
Module 6: Financial Planning and Forecasting in HR
- Scenario planning and sensitivity analysis
- Long-term financial planning in HR
- Integration with overall business planning
Module 7: Compensation and Benefits Finance
- Budgeting for compensation structures
- Financial evaluation of benefits programs
- ROI on total rewards strategies
Module 8: HR Metrics and Financial Reporting
- Designing and interpreting HR financial dashboards
- KPIs for HR cost efficiency
- Data-driven decision-making in HR
Module 9: Strategic HR Financial Management
- Financial implications of workforce planning
- Linking HR initiatives to business performance
- HR’s role in value creation
Module 10: Capstone Case Study and Final Review
- Comprehensive case analysis
- Group presentation and discussion
- Final assessment and course wrap-up
Training Methodology
The course combines various teaching methods, including instructor-led presentations, group discussions, case study analyses, and assessments through quizzes and a final exam to engage participants and ensure they understand and retain the material.
Terms & Conditions
ACTrain reserves the right to alter the Course Schedule without Prior Notification, Fees Quoted are Subject to Terms & Conditions Outlined in ACTrain's Registration Policy
Upcoming Courses
Advanced Management and Leadership Exc
In today’s dynamic business environment, high-level managers mu
Read moreStrategic Thinking, Analysis & Busines
Strategic thinking is essential for navigating the complexities of to
Read moreGoal Setting, Planning and Decision Ma
Our Goal Setting and Getting Things Done workshop will cover strategi
Read moreStrategic Purchasing Management, Cost
The Link of the Purchasing Function with the Organization's Strat
Read moreWarehouse Operations and Management
In this course we will provide the participants how to plan and contr
Read moreExecutive Assistance Skills
Although managers are becoming more and more autonomous with the curr
Read moreProject Management Professional - PMP
Preparation for Project Management Professional (PMP) Certification
Read moreContract Management From Principles To
This intermediate-level course is tailored for professionals involved
Read more