Finance for Strategic HR Management

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Course Overview:

This course will address how firms can manage human resources (HR) as a source of competitive advantage. We will consider a wide array of strategic HR perspectives and address the manner in which these perspectives may apply to a variety of hospitality contexts. Lecture discussion and case analysis will be the primary methods used to examine models’ structures techniques and processes for managing HR and transforming the HR function to assume a more strategically central part of the firm. Having a deeper understanding of the financial side of business HR managers can gain valuable insight into company strategy and can make their HR department an indispensable component of their organisation. A combination of regional and international case studies and examples will be incorporated into the course.

Course content

Module 1 - Finance overview:
  • Financial Information 
  • Key Financial Statements 
  • Measuring Financial Performance 
Module 2 - HR Budget:
  • The HR Department Budget 
  • Creating Value 
Module 3 - Strategic Planning:
  • Strategy direction vision and mission 
  • Strategic manpower planning and forecasting 
  • Strategic training needs analysis 
  • Competitive HR strategies 
Module 4 - Adding Value:
  • Re-Aligning the HR function
  • Aligning and understanding the translation of strategy to make added value operation. 
  • Creating added value mechanisms 
  • Factors driving organisational change 
Module 5 - Monitoring and Evaluation:
  • HR Metrics and KPIs Developing meaningful KPIs 
  • Return On Investment (ROI) on Training
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