Finance skills for HR professionals
Benefits of attendingAfter attending this seminar you will be able to:
1. Prepare HR budgets with more depth and meaning
2. Review management information with a higher level insight
3. Communicate with the finance function in their language
4. Challenge numbers and know what key questions to ask about them
5. Contribute with confidence to board discussions about financial performance
6. Assess performance measurement and reward systems on their financial merits
7. Present clear financial cases for HR initiatives
8. Read the financial press with enthusiasm and a desire to understand what is happening in your market
9. Most importantly, state clearly to your board how HR adds real and significant financial value to the organisation
Programme
The balance sheet image - seeing the real business behind the numbers
Getting a feel for the different types of assets
Looking at liabilities and the risks attached to each
How to assess the balance sheet strength and the management capability
A simple, structured approach to interpretation of the numbers
Key accounting language - gearing and liquidity
Income and expenditure, profit and loss - developing the confidence to challenge the numbers
How to get started - which numbers to look at first
Learning to ask the right questions rather than expect answers from the numbers
Key accounting language - accruals, capital vs revenue, gross profit and ratios: how to judge performance quickly and intuitively
Checking the cash - how to spot the danger signs in business
The budget challenge - gaining peace of mind through doing it properly
The language of budget planning - zero based, incremental, cost codes; how to understand what the finance function expects of you
Your 'monthly financial reports' - how to understand where accounts get those numbers from and how to explain variance
How to learn from experience and reforecast with improved vision
How corporate governance affects every budget holders' role and responsibilities
The benefits of success - measuring and rewarding employee performance on financial merit
Performance ratios - ROI, ROCE, EVA - and how to avoid the pitfalls in financial incentive schemes
A more rounded approach to measuring performance - The Balanced Scorecard
The taxation of salaries and benefits - update and efficiency check
Understanding the real financial issues with pension schemes
The City - seeing the bigger financial picture
How to read the financial pages: yields, price/earnings ratios, market capitalisation
What influences share prices and what is meant by terms such as 'equity' and 'shareholder value'?
Human capital value and HR accountability
The annual report and the new operating and financial review - a brochure for all stakeholders: what the accounts reveal about a company's image, social responsibility and pension fund
Developing a business case for HR - getting approval HR investments
How to think like the finance director
The culture of value-based organisations
The key drivers of value - future cash flows, relevant and irrelevant costs
Understanding net present value and how investment decisions are made
The role of HR in successful financial decision making
Case study examples
How would you present a clear financial case for a fundamental reassessment of staff benefits and incentives covering the following:
Closure of company car scheme with salary alternative offered
Replacing the annual pay increase with a performance bonus paid 12 months in arrears
Introduction of a long term management incentive scheme
It is generally accepted that an effective Human Resources department is an indispensable part of the success of any business. While you are perfectly at ease dealing with the people aspects of your role, you may well experience some misgivings when it comes to crossing functional boundaries into the finance area. If you are to contribute to the future of your organisation on the same basis as other functional heads, you must develop the ability to use financial information with the same degree of confidence as they do.
Croner Training brings to this seminar the same authoritative content and attention to detail that characterises its published materials. Presented by an exceptional speaker who has extensive experience in training non-financial specialists, ‘Finance skills for HR professionals’ will give you the boost you need to deal with numbers confidently.
Quotes from past delegates 'Exceeded expections. I found the course stimulating, relevant and well paced' Catriona Wadlow, Personnel and Training Director, Peveral Ltd
'One of the best courses I have ever been on' Gina Giraschi, Personnel Manager, Invest Corp International Ltd
'Invaluable grounding, even when I thought I understood, I still learnt' S McCormick, Bursar, The Croft Primary School
'Extremely entertaining and accessible. Dispelled the mystery around the subject really well'
