Financial Analysis for HR Managers: Tools for Linking HR Strategy to Business Strategy
by John Boudreau, Wayne F. Cascio, Steven Director
Key Tools for Human Resource Management (Collection)
- About This eBook
- Title Page
- Copyright Page
- Contents
- Financial Analysis for HR Managers: Tools for Linking HR Strategy to Business Strategy
- Copyright Page
- Dedication Page
- Acknowledgments
- About the Author
- 1. Business Strategy, Financial Strategy, and HR Strategy
- 2. The Income Statement: Do We Care About More Than the Bottom Line?
- 3. The Balance Sheet: If Your People Are Your Most Important Asset, Where Do They Show Up on the Balance Sheet?
- 4. Cash Flows: Timing Is Everything
- 5. Financial Statements as a Window into Business Strategy
- 6. Stocks, Bonds, and the Weighted Average Cost of Capital
- 7. Capital Budgeting and Discounted Cash Flow Analysis
- 8. 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
- 9. Financial Analysis of a Corporation’s Strategic Initiatives
- 10. Equity-Based Compensation: Stock and Stock Options
- How Do Stock Options Work?
- What Is the 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
- 11. Financial Aspects of Pension and Retirement Programs
- 12. Creating Value and Rewarding Value Creation
- Bibliography
- Endnotes
- Index
- FT Press
- Investing in People, Second Edition: Financial Impact of Human Resource Initiatives
- Copyright Page
- Dedication Page
- Acknowledgments
- About the Authors
- Preface
- Chapter 1. Making HR Measurement Strategic
- Chapter 2. Analytical Foundations of HR Measurement
- Chapter 3. The Hidden Costs of Absenteeism
- Chapter 4. The High Cost of Employee Separations
- The Logic of Employee Turnover: Separations, Acquisitions, Cost, and Inventory
- Pivotal Talent Pools with High Rates of Voluntary Turnover
- Voluntary Turnover, Involuntary Turnover, For-Cause Dismissals, and Layoffs
- How to Compute Turnover Rates
- Example: Separation Costs for Wee Care Children’s Hospital
- Training Costs
- Performance Differences Between Leavers and Their Replacements
- The Costs of Lost Productivity and Lost Business
- Process
- Exercise
- References
- Chapter 5. Employee Health, Wellness, and Welfare
- Health, Wellness, and Worksite Health Promotion
- Skyrocketing Health-Care Costs Brought Attention to Employee Health
- Two Broad Strategies to Control Health-Care Costs
- Logic: How Changes in Employee Health Affect Financial Outcomes
- The Typical Logic of Workplace Health Programs
- Legal Considerations and Incentives to Modify Lifestyles
- Analytics for Decisions about WHP Programs
- Measures: Cost Effectiveness, Cost-Benefit, and Return-on-Investment Analysis
- Solving the Analysis and Measurement Dilemmas to Improve Decisions about WHP Programs
- Improving Employee Welfare at Work: Employee Assistance Programs (EAPs)
- Future of Lifestyle Modification, WHP, and EAPs
- Exercises
- References
- Chapter 6. Employee Attitudes and Engagement
- Attitudes Include Satisfaction, Commitment, and Engagement
- Satisfaction, Commitment, and Engagement as Job Outcomes
- The Logic Connecting Employee Attitudes, Behaviors, and Financial Outcomes
- Employee Engagement and Competitive Advantage
- Employee Engagement and Service Climate
- Measures of Employee Attitudes
- Analytical Principles: Time Lags, Levels of Analysis, and Causal Ordering
- Estimating the Financial Impact of Employee Attitudes: The Behavior-Costing Approach
- A Final Word
- Exercises
- References
- Chapter 7. Financial Effects of Work-Life Programs
- Chapter 8. Staffing Utility: The Concept and Its Measurement
- Chapter 9. The Economic Value of Job Performance
- Chapter 10. The Payoff from Enhanced Selection
- The Logic of Investment Value Calculated Using Utility Analysis
- Measuring the Utility Components
- Analytics: Results of the Utility Calculation
- Process: Making Utility Analysis Estimates More Comparable to Financial Estimates
- How Talent Creates “Compound Interest:” Effects of Employee Flows on Utility Estimates
- Analytics: Calculating How Employee Flows Affect Specific Situations
- Logic: The Effects of a Probationary Period
- Logic: Effects of Job Offer Rejections
- Logic: The Effect of Multiple Selection Devices
- Process: It Matters How Staffing Processes Are Used
- Cumulative Effects of Adjustments
- Dealing with Risk and Uncertainty in Utility Analysis
- Process: Communicating the Impact of Utility Analyses to Decision Makers
- Employee Selection and the Talent Supply Chain
- Exercises
- References
- Chapter 11. Costs and Benefits of HR Development Programs
- The Relationship Between Training Expenditures and Stock Prices
- Utility Analysis Approach to Decisions about HRD Programs
- Break-Even Analysis Applied to Proposed HRD Programs
- Costs: Off-Site Versus Web-Based Meetings
- Process: Enhancing Acceptance of Training Cost and Benefit Analyses
- Conclusion
- Exercises
- References
- Chapter 12. Talent Investment Analysis: Catalyst for Change
- Appendix A. The Taylor-Russell Tables
- Appendix B. The Naylor-Shine Table for Determining the Increase in Mean Criterion Score Obtained by Using a Selection Device
- Index
- FT Press
Financial Analysis for HR Managers
Tools for Linking HR Strategy to Business Strategy
Steven Director
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