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Key Tools for Human Resource Management (Collection)
- By Steven Director, Wayne F Cascio, John Boudreau
- Published Aug 9, 2013 by FT Press.
Book
- Sorry, this book is no longer in print.
Description
- Copyright 2013
- Edition: 1st
- Book
- 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