Research indicates that the organisations that demonstrate the greatest commitment to human capital enjoy the greatest financial returns. Indeed one study showed a correlation between training and development spend per employee with ROA, ROE and net income per employee.
For HR professionals to be taken seriously at a strategic level, confidence with financial jargon is essential. Yet for many HR professionals, this "accounting speak" is like a foreign language, presenting a real barrier to being effective in making the business case for HR spend.
Add to this the traditionally boring image of finance training and it is not surprising that many managers still do not have a grasp of the necessary basics. This course breaks the mould!
Who Should Attend
All levels of management in HR or L & D roles who wish to gain confidence with financial language and be able to present an effective business case. The course starts from basics so no previous financial knowledge is required.
The success of the workshop comes from the combination of fun and highly participative learning. Delegates begin by analysing and solving the personal finance problems of a fictitious character called Nick Nelson. They progress rapidly by applying the same simple processes to a company's financial statements. Later participants work in teams of three, playing a competitive computerised board game whose objective is to maximise profitability.
The game generates great excitement but, more importantly, reinforces the key learning points in a very practical, relevant and realistic way.
The course examines the key ratios that could be used to evaluate HR projects in terms of ROI. Since HR expenditure often includes projects or asset purchases, we will also cover capital project appraisal techniques. These form the main basis for the financials that need to be included in any business case.
Setting and reporting on budgets is also covered.
Key Areas Covered:
Understanding personal finance
Linking personal and business finance
The 3 key financial statements
Capital Project appraisal techniques
Understanding the various ratios using to evaluate return on investment
Cash Flow Management
Budgeting - setting and monitoring
Benefits to the Organisation and the Individual
As a result of attending this course, participants will be able to:
- Determine the financial data to include in business cases for major HR projects
- Improve their communication with the finance functions and at a strategic level
- Have a clearer understanding of financial terminology and therefore have the confidence to ask more probing questions
- Be more effective in setting and monitoring budgets
"Fun and engaging"
"An easy and effective course to gain a greater understanding of finance and its role in today's business"
" Financial fun!"
"Thank you for two great days"