For the HR professional, there are numerous benefits to becoming a more credible, business-savvy employee. First, knowing more allows for more opportunities to move up instead of out of the organization. Second, when the HR professional can learn and internalize core competencies, he or she can make a more visible, strategic contribution to his or her organization. Third, with knowledge comes authority, influence, and power.
When HR professionals can speak the language of business (i.e., finance and accounting), their peers and superiors within the organization will include them in the organizational decision-making process. Business Literacy Survival Guide for HR Professionals will explain business literacy terms and concepts via numerous examples that are applicable to the HR role. HR professionals will be exposed to the multiple financial ramifications of what they do within the organization. Specifically, HR departmental decisions and day-to-day operations will be related to the financial statements and other financial decisions made by management.
This book does not set-out to turn HR professionals into financial experts, but it will provide enough guidance and insight into the world of business finance to promote a greater awareness and appreciation when helping to manage the company. Specifically, the HR world, by definition, is intimately connected to workforce planning, talent recruitment, training and development, performance management, salary and benefit design and administration, knowledge management, succession planning, etc. These core HR functions are all intertwined with and codependent upon the financial health of the organization.
Table of Contents:
Chapter 1. Human Resources as Strategic Partner
Chapter 2. The Seven Competencies
Chapter 3. The “Big Picture”: The Financials
Chapter 4. Multiple Facets and Approaches to the Financials
Chapter 5. Financial Results May Differ: Accrual vs. Cash Basis
Chapter 6. Cash Equals Financial Survival
Chapter 7. Obtaining Capital: Financing the Company
Chapter 8. Budgeting and the HR Professional
Chapter 9. Financial Ratios
Chapter 10. Financial Management Issues on the HR Radar
Appendix A. Business Literacy Survey
Appendix B. Business Literacy Glossary
Appendix C. Form 1099-MISC
Appendix D. Form 1099-DIV
Appendix E. Examples of Complex Financial Statements
“Finally, an easy to read, financial presentation of how HR fits in with the numbers and how the numbers apply to HR.”
-- Heather M. Shupe, Vice President, Human Resources
“The content of this book is so well-defined and formatted, that all business leaders, professionals, and managers will benefit with this as a 'must-have resource' in their personal library. Regan Garey delivers her insightful and engaging business literacy material in a way that enriches the reader with the right terminology, tools, awareness, and detailed understanding.”
-- Frank Ingraham, HR Consultant and Six Sigma Black Belt
A must read book for all HR managers. An aid in understanding the big picture of a company with an in-depth focus from the accounting world.
-- Jackie Bull, Human Resources Professor
- Additional Information
Name Business Literacy Survival Guide for HR Professionals SKU 61.15015 Year published 2011 Page count 190 Publisher SHRM ISBN 9781586442057 Author Regan W. Garey Format Paperback
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