Financial Aspects of Human Resources Management

MGMT X 450.03

HR is an important business function of any organization. Delve into the financial aspects of human resources and gain the financial insight and skill needed to efficiently operate as a business partner.

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What you can learn.

Develop the financial acumen to manage an HR department and align with business goals
Understand how HR can work to enhance a company's financial performance
Gain the tools, vocabulary, and knowledge needed to build budgets, understand costs, and develop metrics of the HR functional area

About this course:

To be a successful business partner with management, the human resources professional needs to effectively understand and manage the financial aspects of his/her HR department, as well as the impact of the employees on the organization's bottom line. Emphasis is placed on ways the HR practitioner can enhance a company's financial performance. This course provides HR practitioners with the tools and information to understand the cost of the HR functional area(s) for which s/he is responsible. Other areas of study are HR metrics, budgeting, strategic planning and the financial aspects of benefits and payroll.

Prerequisites

MGMT X 450 Elements of Human Resources Management or consent of instructor. While no formal experience in statistics is required, students must demonstrate basic high school-level math/numerical skills; a knowledge of basic algebra is also recommended.