Financial Analysis for HR Managers Tools for Linking HR Strategy to Business Strategy

ISBN-10: 013299674X

ISBN-13: 9780132996747

Edition: 2013

Authors: Steven Director

List price: $49.99
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Description:

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 Managersfocuses 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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Book details

List price: $49.99
Copyright year: 2013
Publisher: Pearson Education
Publication date: 12/19/2012
Binding: Hardcover
Pages: 304
Size: 6.50" wide x 9.25" long x 0.75" tall
Weight: 1.408
Language: English

Business Strategy, Financial Strategy, and HR Strategy
Is HR Weakest in the Most Critical Areas?
You Don't Need to Be a Quant to Make Good Business Decisions
Which HR Decisions Are Important?
What This Book Attempts to Do
The Income Statement: Do We Care About More Than the Bottom Line?
Income Statements
Profit Can Be Measured at Various Levels
Seeing the Big Picture
The Bottom Line
The Balance Sheet: If Your People Are Your Most Important Asset, Where Do They Show Up on the Balance Sheet?
Assets on the Balance Sheet
Liabilities on the Balance Sheet
Which Numbers on a Balance Sheet Can You Believe?
Use Caution When Using Published Financial Ratios
Cash Flows: Timing Is Everything
Cash Flow Information from the Income Statement
Cash Flow Information from the Balance Sheet
Financial Statements, as a Window into Business Strategy
Common Size Financial Statements
Connecting the Dots
Return on Equity
Differential Impact of Financial Leverage
The Big Picture
The link Between HR Strategy and Business Strategy
Stocks, Bonds, and the Weighted Average Cost of Capital
Why Is the Cost of Capital Important to HR Managers?
Where Does the Money Come From?
Is Your Company of Above Average or Below Average Risk?
Capital Costs in 2012
Capital Budgeting and Discounted Cash Flow Analysis
Calculating Present Values
Do the Future Benefits Justify the Upfront Costs?
Using DCF on the Job
HR Applications
Money Has Time Value Because of Interest Rates, Not Because of Inflation
Financial Analysis of Human Resource Initiatives
Decisions Involving Cash Flow That Occur at Different Points in Time
Allocating Budgets When There Are a Larger Number of Alternatives
Calculating NPV of Specific HR Initiatives
Determining Program Impacts Using Pre-Post Changes
Determining Program Impacts Using Comparison Groups
What Is Your Firm's HR Budget?
Is Your HR Budget Allocation Optimal?
Maximizing the ROI on Your Analysis Efforts
Financial Analysis of a Corporation's Strategic Initiatives
Estimating the NPV of a Strategic Initiative Such as a New Product Introduction
Using the Spreadsheet to Structure the Deal
Using Monte Carlo Simulations to Model Risk and Uncertainty
Equity-Based Compensation: Stock and Stock Options
How Do Stock Options Work?
What Is tire Intrinsic Value of an Option? What's the Time Value of an Option?
Are Options High-Risk Investments?
Do Employees Prefer Options or Stock?
Understanding the Inputs to the Black-Scholes Model
Firms Must Disclose the Methods and the Assumptions They Use to Cost Stock Options
Using Monte Carlo Simulation to Determine the Value of Employee Stock Options
Dilution, Overhang, and Run Rates
Equity Compensation Is One Tool for Aligning Executive and Shareholder Interests
Financial Aspects of Pension and Retirement Programs
Defined Benefit (DB) Plans
Defined Contribution (DC) Plans
Hybrid Plans
The Shift from DB Plans to DC Plans
Pension Accounting
Why Base Costs on the Expected Rather Than the Actual Return on Plan Assets?
How Do Firms Select the Appropriate Discount Rate?
DB Plans Encourage Retirement
The Future?
Creating Value and Rewarding Value Creation
Aligning Pay with Performance
Managing EPS Expectations
Putting It All Together
A Sample of Financial Measures Currently in Use
Bibliography
Endnotes
Index
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