This workshop is designed to provide HR practitioners with working financial knowledge and develop understanding of how to use the information in financial statements to evaluate the performance of an organization. Moreover, participants will be exposed to a different side of the HR Function and its relationship to the financial results of the company.
Understand the relationship between HR team performance and financial performance
Analyze the financial performance of HR department
Understand the relationship between efficiency of recruitment function and company financial performance
Build HR financial function
Financial Numbers Overview
o Financial Statements
HR Performance and Company
Financial Results Matrix
Overview
Corporate financial indicator
Profitability Analysis
Activity analysis
HR Functions and relationship to financial results of the company
o HR Financial Matrixes
o How to structure
o How to interpret
o How to turn Financial HR Matrixes into KPIs
HR Cost FTE Ratio
HR Costs per Employee
HR Costs per FTE
Setting HR objectives according to company strategy
HR functions driver allocation
o Recruitment
o Training and Development
o Compensation & Benefits
HR function costing
Budget construction
Budget Review
Financial impact of late recruitment
Vacancy Rate
1st Year Resignation Rate
Time-to-Fill vacancies
External Offer Acceptance Rate
Labour Cost per FTE (Working Day)
Labour Cost Revenue Percent
Labour Cost Expense Percent
Developing the Training and developing matrix
Calculating the ROI
Turnover Overview and financial consequences
Redundancy Rate
Cost of Redundancy
Involuntary Turnover Rate
Resignation Rate
Retirement Rate
Revenue per Full-Time Equivalate (FTE).
Profit per Full-Time Equivalate
Human Capital Return on Investment
Absenteeism Rate
Human capital productivity matrix
HR Team Members.
