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Financial Analysis for HR Managers: Tools for Linking HR Strategy to Business Strategy, 1st edition

Published by Pearson FT Press (December 19, 2012) © 2013

  • Steven Director
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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, including:
  • 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?
  • 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?
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

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