wednesday, october 16, 2019 · additional $1m dollars in training, which will reduce the voluntary...

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 info@nelsonjobs.com.

Continuing Education Credits

Jeevan GillH.J. & J Gill LLCEmail: jeevanjitgill@gmail.comLinkedIn: 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: jeevanjitgill@gmail.comLinkedIn: https://www.linkedin.com/in/jeevanjit/Twitter: @jeevanjitgill

Erica KramerDirector of Executive Search, NelsonOffice: 916-843-5382 | Cell: 916-402-1798Email: ekramer@nelsonandassociates.comLinkedIn: Erica Hamam Kramer

nelsonjobs.com | 1.866.GO.NELSONTHANK YOU FOR ATTENDING OUR WEBINAR!