On January 19 we invite you to participate in the webinar: Finance for non-financiers: 4 keys that HR should know, an exclusive activity free of charge for DCH Alumni in which we will have the participation of Gúmer Alberola, Partner-Director of EXCE “Excelencia Estratégica Empresarial” and expert in finance.
One of the big mistakes of many organizations is that CEO’s make the financial area their right hand when planning goals and objectives, leaving aside the Human Resources area.
If organizations only focus on economic capital, budgets and balance sheets, without taking into account human capital, then the organization will risk that important processes such as personnel selection and retention of the best talent in the company will be affected. The way to avoid this is to include human resources managers in the creation of the organization’s strategy and goals, thus managing to cover the drawbacks of both areas, financial and Human Resources.
Finance and HR managers must analyze their respective data together to drive the expected business results. These must be analyzed simultaneously, not separately, in order to meet the goals set by the company.
To achieve this, HR managers must have knowledge or a background in key aspects of the financial area, such as:
Knowledge and capacity to analyze the macroeconomic context and the financial system in which the company operates.
Discernment of the different external financial variables, such as inflation, interest rates, exchange rates, public debt levels, geographic mobility, demographic changes, public debt profitability, … how they are measured and their implications in the decision making of the HR manager.
To master the most relevant internal financial indicators on the financial health of the company, such as economic profitability, financial profitability, EBITDA, …..
And to know the implications of personnel costs (in all their variants) as well as other indicators such as other costs: their classification, contribution margin of the company, labor productivity, break-even points…