Finance for HR
Live Online practical, intensive and interactive workshop – Special Offer for HR professionals
Two Modules – two half-days per module
Knowledge of financial numbers and figures will enable you to link to the business processes and solve HR issues. With these complimentary and introductory sessions, HR professionals will experience our training methodology, resources and will be able to participate in financial conversations, make relevant and impactful suggestions and even challenge others’ ideas.
Presenting to the Board new attractive ideas without demonstrating the financial impact will not be convincing anyone! It must be communicated clearly how the implementation of such ideas impact the financial statements and the financial health of the organization.
Financial skills should not deter HR professionals, but rather complement your HR expertise and enable you to make data-driven decisions, demonstrate the financial impact of HR initiatives, collaborate effectively with finance teams, and contribute to organizational success by optimizing human capital investments and aligning HR practices with financial objectives.
These training modules are addressed to HR Professionals without formal education in finance, who, because of their day-to-day needs, are involved in a financial process and are required to apply and interpret information contained in financial statements.
Objectives
After completing these training modules, you will be able to:
- Identify HR issues by applying financial skills
- Understand how business decisions made by you impact key elements of your company’s financial statements
- Feel confident when talking to partners from the finance department
- Participate in the budgeting process more effectively and efficiently
Benefits
Training methodology
This is an interactive and case-study-based course.
Carefully chosen case studies aligned with interactive and focused training will inspire participants and transform theory into practical learning and application, a form of learning which is simply not possible with a traditional presentation or lecture. And is a lot more fun too!
With this training methodology, once you go through a real life business situation, you will never forget the tools learned. During a case study you have the freedom to apply the taught knowledge, assess the impact and re-adjust your techniques as often as needed, until you make your final decision, just as you would test (and taste) products in a festival! This cannot happen in a lecture or presentation.
Training materials will be comprehensive with theory, summaries, key points, exercises and illustrations, self-testing questions and case studies with full model solutions.
Module 1
Financial Statement Analysis and the HR process: Value Creation
During this module you will:
- Observe how real-life flow of transactions end up in financial statements – (With illustrations and examples).
- Understand how items from the flow of transactions either go on to the balance sheet or to the income statement – (Case Study).
- Go through exercises and mini case studies touching key balance sheet and income statement positions – rules for recognition and measurement include:
- Assets – can our people be shown as assets?
- Intangible assets – perhaps our people are such assets?
- Provisions – are future events actually shown in current financial statements?
- Employee Benefits e.g. Retirement Benefit Schemes – are these future payments shown as costs in the future or in the present?
- Review of real-life set of audited financial statements
- Understand the link between Cash Flow, Income Statement and Balance Sheet – (Case Study).
- Experience analysing and interpreting Financial Statements – (With illustrations and examples).
- Enjoy obtaining practical skills from a major case study – you look at a set of audited financial statements of five years and you will be able to:
- Identify problems in the business, HR issues and their root causes
- Link the various strategies together, including the HR strategy
- Come up with solutions to improve the health of the company in the medium as well as the long term
Module 2
Financial Management: Budgeting, ROI Analysis, and Value Demonstration
It is advisable to attend Module 1 before Module 2
During this module you will:
- Understand functions and purposes of budgeting (and you may be surprised!)
- Apply costing techniques and appreciate the importance of overheads, for example in pricing decisions (Case Studies)
- Identify HR issues by applying Variance Analysis (Case Studies)
- Participate in case studies on alternative budgetary systems like zero-based, rolling and activity-based budgeting
- Understand the importance of cost structure and classification into Fixed, Variable, Direct and Indirect costs (Case Study)
- Appreciate Break-Even Analysis to support your budgeting decisions – (With illustrations and examples).
- Calculate the Return on Investment (ROI) in a practical case study
Marinos Athanassiou - Marinos is the founder of the EY Academy of Business and has been a trainer since 1994. Marinos' training competences stem from both his professional experience and the knowledge he has gained from many years of delivering training courses.
Katarzyna Jasińska - Trainer in strategic management, team management, teamwork, managerial skills, competence development and soft HR, as well as coaching and key coach competencies
Benefit from the knowledge of our experts
Access to articles and know-how is free of charge. Learn about our working methodology – transferring knowledge through real-life examples:
Finance for HR Webinar - Pre-course Preview
Financial skills empower HR professionals and this is the value of the Finance for HR course. This webinar will walk through tangible examples of how Financial literacy is necessary to identify root causes of issues related to compensation, benefits, and overall workforce management and thus enabling data-driven decision-making and strategic alignment with business objectives.