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Key Tools for Human Resource Management (Collection)

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Key Tools for Human Resource Management (Collection)

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Description

  • Copyright 2014
  • Pages: 673
  • Edition: 1st
  • eBook (Watermarked)
  • ISBN-10: 0-13-374120-6
  • ISBN-13: 978-0-13-374120-9

HR managers are under intense pressure to become strategic business partners. Many, unfortunately, lack the technical skills in financial analysis to succeed in this role. Now, respected HR management educator Dr. Steven Director addresses this skill gap head-on. Writing from HR's viewpoint, Director covers everything mid-level and senior-level HR professionals need to know to formulate, model, and evaluate their HR initiatives from a financial and business perspective. Drawing on his unsurpassed expertise working with HR executives, he walks through each crucial financial issue associated with strategic talent management, including the quantifiable links between workforces and business value, the cost-benefit analysis of HR and strategic financial initiatives, and specific issues related to total rewards programs. Unlike finance books for non-financial managers, Financial Analysis for HR Managers focuses entirely on core HR issues.

More than ever before, HR practitioners must empirically demonstrate a clear link between their practices and firm performance. In Investing in People, Wayne F. Cascio and John W. Boudreau show exactly how to choose, implement, and use metrics to improve decision-making, optimize organizational effectiveness, and maximize the value of HR investments. They provide powerful techniques for looking inside the HR "black box," implementing human capital metrics that track the effectiveness of talent policies and practices, demonstrating the logical connections to financial and line-of-business, and using HR metrics to drive more effective decision-making. Using their powerful "LAMP" methodology (Logic, Analytics, Measures, and Process), the authors demonstrate how to measure and analyze the value of every area of HR that impacts strategic value.

Sample Content

Table of Contents

Financial Analysis for HR Managers

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

Investing in People

Acknowledgments     xiv

About the Authors     xv

Preface     xvi

Chapter 1: Making HR Measurement Strategic     1

Chapter 2: Analytical Foundations of HR Measurement     19

Chapter 3: The Hidden Costs of Absenteeism     51

Chapter 4: The High Cost of Employee Separations     79

Chapter 5: Employee Health, Wellness, and Welfare     115

Chapter 6: Employee Attitudes and Engagement     143

Chapter 7: Financial Effects of Work-Life Programs     169

Chapter 8: Staffing Utility: The Concept and Its Measurement     195

Chapter 9: The Economic Value of Job Performance     223

Chapter 10: The Payoff from Enhanced Selection     255

Chapter 11: Costs and Benefits of HR Development Programs     283

Chapter 12: Talent-Investment Analysis: Catalyst for Change     309

Appendix A: The Taylor-Russell Tables     325

Appendix B: The Naylor-Shine Table for Determining the Increase in Mean Criterion Score Obtained by Using a Selection Device     337

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