Fundamentals
Target audience
2 day
New training
Finance Training for HR
Prerequisites
No prior knowledge is required.
Objectives
◗ Measure the financial impact of HR decisions on the company.
◗ Analyze and interpret the main financial statements.
◗ Communicate with the company's accounting and finance managers and executives.
◗ Understand the concepts of costs and budget control as they apply to payroll.
Training program
◗ Understanding the accounting and financial fundamentals as they apply to HR
– The Role of Accounting in Business Management: Tax Obligations and a Management Tool
– Distinguishing Between Various Financial Items
✔ APPLY | Practical Case Study: Identify and Classify Financial Items
– Analyzing a Company’s Financial Statements
• Balance Sheet: A Snapshot of the Company’s Financial Position (Assets, Liabilities)
• Income statement: revenue and expenses, interpreting key indicators
• Cash flow statement: financial transactions and cash flow management
✔ APPLY | Practical exercise: Interpreting a company’s financial statements
◗ Understanding Payroll Components: From Pay Stubs to Reporting
– Accounting Analysis of a Pay Slip
– Breakdown of a Pay Slip: Gross Pay, Contributions, Social Security Deductions
– Financial Implications: Converting Payroll Items into Accounting Entries
✔ APPLY | Practical Exercise: Read and Interpret an Employee’s Pay Slip from an Accounting and Financial Perspective
◗ Assess the financial implications of HR decisions
– Management of paid leave, RTT, and CET: Accounting implications of leave entitlements
– Profit-sharing and incentive plans: impact of the statutory formula on company results
– Social security filings: impact on accounting and cash flow
✔ APPLY | Practical exercises: calculating the financial impact of paid time off/RTT/CET
– Digital HR management tools: how these tools facilitate the integration of HR and financial data
◗ Financial Management of Personnel Expenses: Budget Monitoring
– Importance of the budgeting process
– Managing and controlling payroll expenses
– Personnel management expenses
✔ PRACTICE | Case study: Defining assumptions for creating an HR budget
– Build a management dashboard
– Select key HR performance indicators: payroll, training costs, recruitment costs, turnover rate, retention rate, absenteeism
– Identify and analyze variances in personnel expenses
– The challenges of cost accounting: allocating HR costs by cost center and by project
✔ APPLY | Practical exercise: Build an HR dashboard and analyze budget variances
◗ Strategic Impact of HR Decisions on Company Performance
– The Link Between Corporate Strategy and HR Decisions: The Indirect Cost of HR Decisions (Engagement, Motivation, Productivity)
– Talent Management and Financial Performance: The Cost of Losing Talent
– Financial Forecasting and Simulations: Using Automated Tools to Anticipate the Financial Consequences of HR Decisions (Hiring, Workforce Reduction, New Bonuses)
✔ APPLY | Hands-on exercise: Conduct a financial impact simulation for an HR project (creating a new position, salary increases, restructuring)
Why choose this course?
HR decisions have a direct impact on a company's financial performance: payroll, recruitment, compensation, training, and absenteeism.
This training helps HR professionals interpret financial statements, assess the impact of their actions, and manage their operations using HR management control tools.
Teaching and assessment methods
Before the training: Submit your expectations via your online portal 15 days before the training begins and complete a self-assessment of your skills.
Teaching Methods: A variety of teaching methods to cater to different learning styles, encourage active participation, and reinforce learning through experimentation and practice.
Educational materials: presentation materials, reference materials (summary sheets, tables, etc.), and other resources available in your account.
During the training: theoretical concepts are alternated with examples drawn from real-life cases. Participants are given the opportunity to engage in role-playing exercises. Numerous practical exercises allow participants to demonstrate their mastery of the skills as the training progresses.
Training monitoring and evaluation: attendance sheet and certificate of completion. Immediate and post-training evaluations conducted using the LearnEval platform.
Price
€1,720 (excluding tax)