FINANCE FOR HR

Available Dates & Locations

This course is offered exclusively as In-House or Virtual, with no public sessions currently available – please contact us for inquiries.

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COURSE OVERVIEW

In this 5-day Finance for HR training course, participants will gain a comprehensive understanding of financial principles and practices tailored to the needs of HR professionals. Through interactive sessions and practical exercises, participants will acquire the knowledge and skills necessary to effectively manage financial aspects within the HR function.

COURSE OBJECTIVES

By completely attending this course, participants will learn how to:

Interpret financial statements and reports.
Develop and manage HR budgets effectively.
Analyze compensation structures and cost implications.
Implement cost control measures within HR operations.
Generate financial reports for HR initiatives.
Ensure compliance with financial regulations in HR practices.
Utilize financial data to make informed HR decisions.
Optimize HR processes for cost efficiency.
Communicate financial insights to HR and non-financial stakeholders.

TARGET COMPETENCIES

Developing Financial Literacy
Understanding Budgeting
Compensation Analysis
Cost Control Analysis
Financial Reporting
Risk Management
Legal and Regulatory Compliance
Ethical Conduct

This course is designed for HR professionals, managers, and decision-makers involved in HR processes. It’s suitable for those looking to strengthen their financial acumen to enhance HR-related decision-making.

This course employs a blend of lectures, case studies, group discussions, and practical exercises. Real-world scenarios and HR-focused financial tasks enable participants to apply financial principles within an HR context.

FINANCIAL LITERACY

Understanding key financial terms and concepts.
The importance of financial literacy for HR.
Interpret financial statements and reports.
Demonstrate financial acumen in HR decisions.
Utilize financial data for HR planning.
Apply financial principles to HR budgeting.

BUDGETING

Develop and manage HR budgets.
Allocate resources effectively.
Different types of budgets
Monitor budget performance.
Utilize budgeting tools and software.
Align HR goals with financial constraints.

COMPENSATION ANALYSIS

Analyze compensation structures and packages.
Assess the impact of compensation on HR costs.
Implement competitive compensation strategies.
Optimize compensation within budget constraints.
Conduct salary surveys and benchmarking.
Align HR goals with financial constraints.

DATA ANALYSIS FOR HR

Sources of data
Analyzing HR data to identify trends and insights.
Making data-driven HR decisions.
Identifying and tracking relevant HR metrics and KPIs.
Using metrics for strategic HR planning.
Workshop and case study.

COST CONTROL

Identify cost control opportunities in HR.
Implement cost-saving measures.
Monitor and reduce HR expenses.
Evaluate the return on HR investments.
Streamline HR processes for efficiency.

FINANCIAL REPORTING

Generate financial reports for HR initiatives.
Interpret financial data for HR analysis.
Create customized HR financial dashboards.
Utilize reporting software for HR metrics.
Communicate financial insights to HR stakeholders.
Making HR decisions

COMPLIANCE

Ensure compliance with financial regulations in HR practices.
Implement financial controls in HR processes.
Address audit and regulatory requirements.
Manage financial risks within HR operations.
Demonstrate adherence to ethical and legal standards.
Compliance with labor laws and taxation
Ethical and Legal Considerations

CONCLUSION

Review of key concepts
Applying financial skills in HR
Summary