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Financial Analysis for HR Managers: Tools for Linking HR Strategy to Business Strategy
- By Steven Director
- Published Dec 19, 2012 by FT Press.
- Copyright 2013
- Dimensions: 6" x 9"
- Pages: 304
- Edition: 1st
- Book
- ISBN-10: 0-13-299674-X
- ISBN-13: 978-0-13-299674-7
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Product Author Bios
STEVEN DIRECTOR (Piscataway, NJ) is full Professor/Associate Dean at Rutgers' School of Management and Labor Relations. He previously chaired Rutgers' HR Management department and directed its Ph.D. program in IR and HR. He served as Employment Policy Fellow at the Brookings Institution and as a faculty member at Michigan State. His work has appeared in Journal of Industrial Relations, Journal of Risk and Insurance, Southern Economic Journal, Policy Studies Journal, Evaluation Quarterly, Journal of Employment Counseling, Evaluation Review, Staffing, and other journals. With SHRM, he created the monthly SHRM/Rutgers Leading Indicator of National Employment (LINE) Report.
HR leaders and practitioners: master the financial analysis skills you need to become true strategic business partners, gain an equal seat at the table, and get boardroom and CFO buy-in for your initiatives! In this one-of-a-kind book, Dr. Steven Director covers everything mid-to-senior-level HR professionals need to formulate, model, and evaluate their HR initiatives from a financial perspective. Drawing on his unsurpassed expertise working with HR executives, he walks through each crucial financial issue associated with strategic talent management, including quantifiable links between workforces and business value, cost-benefit analyses of HR and strategic financial initiatives, and specific issues related to total rewards programs, including stock, stock options, and pension costs. Unlike other finance books for non-financial managers, Financial Analysis for HR Managers focuses entirely on core HR issues. Director helps you answer questions such as: How do you model HR's financial role in corporate strategic initiatives such as the introduction of a new product line? How do you select bonus drivers to send the right signals to managers (and uncover suboptimal hidden signals you might be sending now)? How do you design compensation packages that are fully consistent with your goals? How do you identify and manage pension-finance costs and risks that can dramatically impact the long-term financial health of the business? HR leaders and aspiring leaders are under unprecedented pressure to provide credible, quantitative answers to questions like these. This is the one and only book that will help them do so.
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1 of 1 people found the following review helpful
Terrific Book That Meets Important Need, By
This review is from: Financial Analysis for HR Managers: Tools for Linking HR Strategy to Business Strategy (Hardcover)
Customer review from the Amazon Vine™ Program (What's this?)
Human relations functions of enterprises are often dismissed as "soft." HR may be seen, implicitly or explicitly, as a cost center, a liability, a defensive function.Such longstanding prejudices can be costly in the emerging 21st century marketplace. Now, people are the most valuable assets for many companies--in reality, not merely as happy talk by CEO's a few times per year. Into this changing environment, author Steven Director adds practical value in 'Financial Analysis for HR Managers: Tools for Linking HR Strategy to Business Strategy.' Director brilliantly distills key financial concepts for non-quants. The mysteries of the balance sheet are exposed. Equally important, he explains how financial statements are a "window into business strategy." He achieves his overall goal, integrating business strategy, financial strategy, and HR strategy. As a practical matter, this book can enable HR professionals to make the case for their... Read more
HR Analysis Handbook.Easy to read and understand., By
This review is from: Financial Analysis for HR Managers: Tools for Linking HR Strategy to Business Strategy (Hardcover)
Customer review from the Amazon Vine™ Program (What's this?)
Financial Analysis for HR Managers: Tools for Linking HR Strategy to Business Strategy is a great book for people who work in HR function or people who are curious on how HR analysis works and why it is important to the business. This book provides information on how to use business analysis to get the maximum amount of return from your workforce investment. Many companies do not realize that their biggest asset is their people and this book will show them otherwise. This book is also very comprehensive and teaches you on what are the critical metrics to track and concepts to understand.Some of the key items covered more detail in the book: 1. How business strategy, financial strategy and hr strategy interact 2. Interpreting the income statements 3. Understanding balance sheet and it's various ratio 4. Calculating PV and using DCF 5. Financial analysis of HR initiatives vs other initiatives 6. Appropriate compensation 7. Equity based... Read more
Best For Those Who Work in HR Departments, By
This review is from: Financial Analysis for HR Managers: Tools for Linking HR Strategy to Business Strategy (Hardcover)
Customer review from the Amazon Vine™ Program (What's this?)
I have never worked for a company large enough to have an HR Department and in the few small business that I've run in my life, I didn't have one, but then I've never had more than three employees to deal with and when they didn't like how things were going, they told me directly.However, if you work for a large company and want to advance, this might be a good book for you. If you're in the HR department of such a company it should probably be required reading. This book explains the value of employees to a company and thus the HR department. Money spent on HR is not money down the drain, but money well spent the author argues and from what I've read of his book, he's probably right. |
Sample Pages
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Table of Contents
Chapter 1: Business Strategy, Financial Strategy, and HR Strategy 1
Chapter 2: The Income Statement: Do We Care About More Than the Bottom Line? 9
Chapter 3: The Balance Sheet: If Your People Are Your Most Important Asset, Where Do They Show Up on the Balance Sheet? 23
Chapter 4: Cash Flows: Timing Is Everything 43
Chapter 5: Financial Statements as a Window into Business Strategy 49
Chapter 6: Stocks, Bonds, and the Weighted Average Cost of Capital 59
Chapter 7: Capital Budgeting and Discounted Cash Flow Analysis 71
Chapter 8: Financial Analysis of Human Resource Initiatives 97
Chapter 9: Financial Analysis of a Corporation’s Strategic Initiatives 127
Chapter 10: Equity-Based Compensation: Stock and Stock Options 153
Chapter 11: Financial Aspects of Pension and Retirement Programs 185
Chapter 12: Creating Value and Rewarding Value Creation 217
Bibliography 249
Endnotes 257
Index 263
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