Financial Skills for HR Professionals Training
Code
5027
Type
Classroom
Duration
5
Modules
5
Skill Level
Expert
Language
EN
Max
10
Certificate
Yes
Assessment
No
Today HR is being increasingly challenged to meet the ever-increasing expectations of its stakeholders and partners. These expectations include the need for HR to be an effective business partner, be seen to be adding visible and measurable value, and proactively contribute to the growth of the business’s bottom line.
In order to meet this challenge, HR professionals must have a strong and thorough understanding of financial fundamentals, be comfortable in using financial language, and be able to present convincing business cases in support of any HR initiatives that must be in alignment with the business’s financial, budgetary and strategic goals.
This course allows participants to hone their skills; it is structured in a relatively easy way to give the knowledge that will be used in their daily work habits, for the benefit of customers and the organization
- Expanding the knowledge of business areas outside HR
- Identifying the key financial components of the annual report
- Being familiar with the importance of cash flow to companies and shareholders
- Understanding the measures and processes used to assess companies’ financial health
- Recognizing the measures that are affected directly or indirectly by the HR function
- Exploring methods of financing the business and financial planning issues
- Focusing on the relationship between the HR department and the finance department
- Executives
- HR Manager
- HR team
- Anyone involved in HR planning
There are no specific requirements for this Course.
Course Outline
- Introduction to Finance
- Overview of HR in banking and finance
- Developing an HR strategy
- Strategy into practice
- How to optimally budget
- Planning and financing the business
- HR principles and actions from strategic goals
- Decision-making
- Creating the ‘model workplace’
- The income statement
- Statement of cash flows and shareholders’ equity
- Financial analysis
- Diversity and equality
- Pay and benefits in banking and finance
- Impact of the recession on pay and benefits
- Courting controversy – the public’s perception
- Performance management
- Human resource development
- Program review
- Personal action planning
- Problem-solving exercises