Management / Human Resources
Finance for HR Professionals
MH512
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.
- 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.
- HR Managers and Business Partners
- Compensation & Benefits Specialists
- Talent Acquisition and HR Analysts
- Managers from other departments with HR oversight
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
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
