Background
Time and again research has shown that to add value to organisations and be a true Business Partner the modern HR Practitioner needs credibility. This credibility will only be awarded if the practitioner is able to function, not only as an HR Practitioner, but as a well rounded business person with an HR specialisation.
The HR Practitioner of the current millennium needs to have the skills of the "Credible Activist" – the HR professional who is both credible (respected, admired, listened to) and active (offers a point of view, takes up a position and challenges accepted assumptions).
Also required, as Ulrich puts it as "table stakes", are the skills of the "Business Ally" – they know how the business makes money, and have an understanding of the various parts of the business: Finance, Marketing, Research & Development and Engineering (to name but a few) and in so doing assist the organisation to succeed.
This programme is designed to provide modern HR Practitioners with the basic financial skills which will enable them to understand and contribute to discussions and analyses of organisational financial issues.
Content Overview
- Why Finance and financial skills are critical to HR Business Partners;
- Understand the meaning and importance of "due diligence";
- Understand the meaning and implications of modern financial terminology;
- Understand an apply the skills of costing and profit generation;
- A look at Income Statements;
- A look at Balance Sheets:
- A look at Cash Flow and why it isn't the same as Profit;
- Basic Financial Ratios, how to use them and why they are important;
- Understanding Return on Investment;
- Budgets and budgeting;
- What budget variances tell you.
Objectives
On completion of the programme delegates should be able to: - Understand modern financial terminology;
- Use and apply modern costing skills;
- Read, understand and analyse an Income Statement;
- Read, understand and analyse a basic Balance Sheet;
- Understand and explain what Cash Flow is and why it's important;
- Understand and be able to apply and use basic Financial Ratios;
- Understand and explain the mechanics of Return on Investment;
- Understand and create a budget;
- Understand how to act on budget variances
- Be able to understand and contribute to organisation financial discussions.
|
