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
