wednesday, october 16, 2019 · additional $1m dollars in training, which will reduce the voluntary...
TRANSCRIPT
Wednesday, October 16, 2019
Building a Bridge from HR to Finance: Making the Business Case
Speaker – Jeevan Gill, Demand Manager
Moderator – Erica Kramer, Director of Executive Search
Key Takeaways
In this webinar, you’ll discover how to:
• Align human resources with finance
• Fix HR operations so they don’t distract from HR’s higher mission
• Why and when to “cross-role” employees
• And more!
Key Takeaways
TODAY’S AGENDA• Welcome • Building a Bridge from HR to Finance: Making the
Business Case• Questions & Comments
Key Takeaways
1 HRCI and 1 SHRM credit certificates
These will be emailed early next week.
Questions? Need to check which credits you requested? Email us at [email protected].
Continuing Education Credits
Jeevan GillH.J. & J Gill LLCEmail: [email protected]: https://www.linkedin.com/in/jeevanjit/Twitter: @jeevanjitgill
•Jennifer Shaw
Key Takeaways
Building a Bridge from HR to Finance
Key Takeaways
Bachelor of Science - Management Information System from Sacramento State University
Executive MBA candidate at Saint Mary’s College of California
Experience in operations/finance/supply chain
• CEO - H.J. & J Gill LLC
• CFO - Siemens Mobility (USA and Germany)
• Siemens Mobility (USA and Germany)
• Intel Corporation
About the Speaker
Key Takeaways
• How do your colleagues perceive the HR team?
• Are you using technology automation tools, HCM, and job rotation training programs?
• HR specialists spend almost half of their time doing
administrative work! Does this surprise you?
• Does the lack of time result in the short-term view and reactive environment of HR?
Questions to Ponder
Key TakeawaysAgenda
Define Value
• Through business strategy
Align HR
• Going beyond operational HR
• Identify investments & improvements
Delivery Models
• Creating KPIs that matter
• Communication loop
HR Strategy
Delivery of
Models
Align HR
Define Value
Key Takeaways
“Imagine for a moment, if you could clearly show that investing an
additional $1M dollars in training, which will reduce the voluntary
turnover rate by 10%, will save $1.5M while simultaneously increasing
workforce productivity by 5%. For a company with $1B in annual
revenue, this would be worth up to $50M in ROI to the organization.”
Jeff HigginsCEO, Human Capital Management Institute
Imagine the Impact
Key Takeaways
• A critical part that affects the organization’s performance
• Having a long-term focus
• Plans that involve senior members of a company or board
• General framework for which policies and procedures can be
made
• A factor that contributes to a competitive advantage
What’s the Strategy?
Key Takeaways
• HR strategy must be aligned to the organization’s vision, mission, and goals.
• Should take into account workforce trends
• Gen Z joining the workforce
• Rise of the gig economy
• If HR doesn’t create strategies for the organization, we see:
• Individual business units developing their own HR strategies that create duplications and confusion among managers Duplication = increased costs!
Does HR Strategy Matter?
Key TakeawaysAligning HR with the Company
Key Takeaways
The most important aspect to align HR functions to the greater business is through communications, particularly with numbers and data visualization.
• Excel sheets | Tableau | SQL | Six Sigma | Dashboards | KPIs
Using enterprise HCM software and automation tools to reduce the redundant tasks to free up time – from a financial perspective, that means reduced costs.
Understand what upgrades and capabilities your HR team needs and create a plan that effectively shows beneficial outcomes.
• Operational efficiency | Achieving business strategy
Align HR and Finance
Key Takeaways
• Perform a gap analysis
• Identify the skills needed to deliver effective and efficient services
• Identify the tools, processes, and infrastructure to help HR with their
goals
• Create processes and a culture for operational improvement
• Cross-train employees – Rotate a finance analyst in HR and move an
HR specialist in Compliance
Upgrade HR Capabilities
Key Takeawas
• Job rotation is an HR and business strategy to provide benefits to both the
company and the employee.
• Cross-functional employees are able to use the knowledge of other roles
to improve the department/unit, both from business strategy integration
and team culture perspective.
Cross-Functional and Rotation Roles
Key Takeaways
• Using HRM helps achieve your goals and objectives.
• Reduces human resources administration time.
• Data accurate and easy to see.
• Some examples:
• Workday | ClearCompany
Human Resource Management (HRM)
HR Service Delivery Framework
• Workforce productivity = revenue per employee / profit per employee
• Compare to your industry
• New hire turnover rate
• Promotion rates
• What are other KPIs that would be useful to track and present to
management in an effort to increase transparency?
Key Performance Indicators to Finance
KPI Dashboard
• Having the ability to present data with a story speaks volumes to the
business because it starts a conversation about what things are not
going well, how to make improvements, and the best ways to track
development of issues facing the company.
• Market trends show the newest workforce doesn't stay at just one job
over their lifetime, so it's important to discover what makes employees
stay longer and be more satisfied and motivated by their jobs. The cost
of employee turnover is large. Instead of just storytelling, show it with
numbers.
Connecting the Dots from HR to Finance
Communication Loop
Communicate, communicate, communicate!
Best practice is to communicate at least once a month with the business.
• Accomplishments (Success stories)
• KPIs (How are things progressing)
• Overall news that can keep people outside HR updated and in mind
Feedback Welcome!
• Please take our survey.
• Click the link in our “thank you” email.
Continuing Education Credits
• HRCI and SHRM certificates will be emailed to you within one week.
Next Steps
Please Submit Your Questions inthe Webinar Chat Box
Questions
About Nelson
Your Expert Workforce Support Partners
• Experienced California specialists in staffing, recruiting, and payrolling.
• Tenured, networked teams with nearly 50 years of experience.
• Specialty teams serving niche needs in:
Accounting & Finance
Administration and HR
Engineering Legal Wine & Beverage
Production & Manufacturing
Sales & Marketing
Technology
Jeevan GillDemand ManagerEmail: [email protected]: https://www.linkedin.com/in/jeevanjit/Twitter: @jeevanjitgill
Erica KramerDirector of Executive Search, NelsonOffice: 916-843-5382 | Cell: 916-402-1798Email: [email protected]: Erica Hamam Kramer
nelsonjobs.com | 1.866.GO.NELSONTHANK YOU FOR ATTENDING OUR WEBINAR!