Finance skills to transform a Human Resources department. June 6, 2019

Finance skills to transform a Human Resources department.

Human Resources (HR) is undoubtedly an essential part of every organisation. With additional skill sets outside of HR areas, HR managers can expect to really transform their departments into strategic, effective and indispensable components of their organisation.

One of the area’s most applicable for HR managers to upskill in is Finance. By upskilling in areas of Finance, HR managers can gain valuable insights into the organisation’s long-term strategic plans and use the HR department to create a competitive advantage for the organisation.

By gaining Finance skills in areas such as budgeting, forecasting and planning, HR managers will be able to develop meaningful and well thought out HR budgets as well as develop Key Performance Indicators (KPIs) and HR Metrics for their department.

Budgets, KPIs and HR Metrics can then be monitored by comparing forecasted spend to actual budgets. The outcomes monitored will then to be able to provide valuable information and indicate the Return On Investment (ROI) for key HR spend areas such as training or recruitment. By tracking the ROI on these areas, HR managers can improve their performance by reviewing processes to improve the ROI directly.

By aligning HR strategy with an organisation’s overall long-term strategy, the HR department can become a more central part of the organisation that can increasingly impact organisational performance overall, in a positive way.

London Training for Excellence offers a course that is directly targeted at HR Managers wishing to upskill in Finance. Finance for strategic HR management, is a course suitable for HR professionals, HR Managers, HR directors and HR business partners.

The course objectives include aiming to leave delegates with the knowledge and confidence to describe how an organisation’s finances operate and to define key financial terms and concepts, determine how to build a HR budget and identify ways to positively impact corporate performance.

A wide array of strategic HR perspectives will be discussed and addressed. A combination of regional and international case studies and examples will also be incorporated into the course to increase understanding.

If you would like to learn more about London Training for Excellence’s course in Finance for Strategic HR Management please follow the link below or contact sales@londontfe.com for more information.