There can be a disconnect 2 5/3/2018 WHAT DOES THE CFO NEED - PDF document

5/3/2018 D ATA R EPORTING W ORKFLOW WHAT DOES THE CFO AND FINANCE WANT WHAT GOES THROUGH YOUR MIND WHEN YOU GET A CALL FROM THE CFO? 1

5/3/2018 THE MINDSETS OF THE GROUPS HUMAN RESOURCES FINANCE • People focused • Dollars and Sense • How to take care of the group • The bottom line • Ways to get them engaged • Get the work done • Do we need all these people • Do we have enough people There can be a disconnect 2

5/3/2018 WHAT DOES THE CFO NEED • Business Perspective • What return do you anticipate for the money invested in a new hire? • Use your People Data • Many HR professionals lack best practices and systems for collecting, tracking and reporting on people data • Reinforce the Human Element The CFO can frequently be the naysayer. • • Leverage HR expertise to enhance business vision • Tie opportunities to measurable performance metrics MEASURING AND REPORTING • KPI - Key Performance Metrics • Work with Finance to Identify – what do they really want to know • Focus on what is IMPORTANT, not what is easy to measure • Make measurements CONTINOUS, REAL TIME, and a PREDICTIVE PROCESS • Take your DATA and Turn it into INFORMATION • We are all data RICH, but INFORMATION POOR! 3

5/3/2018 THE THINGS YOU MEASURE? LEADING INDICATOR LAGGING INDICATOR • T ells you what is going to • Reports what happened happen • Stepping on the scales • Looking at what size my clothes are • Going to the Gym • Monitoring what you eat Trying to lose Weight WHAT DO YOU MEASURE TODAY? IS IT LEADING OR LAGGING 4

5/3/2018 REPORTING TOOLS Helping Finance know what is coming at them in the future WEEKLY DATA – AUTOMATICALLY UPDATES 5

5/3/2018 DASHBOARD – TURNS INTO INFORMATION TRENDING INFORMATION 6

5/3/2018 DEEPER DIVE INTO WHAT IT IS TELLING YOU SO WHAT - HELPS THE CFO / FINANCE TEAM • Insight into what is coming at them • Prior Planning Prevents Poor Performance • Ability to plan • Utilizing the trends and details helps for planning if more or less labor will be needed • Identifies opportunities/challenges • Brings to light things you know but the details focus the light on it 7

5/3/2018 SURVEYS AND FEEDBACK Gathering insight into what the teams and people are thinking DATA GATHERING • Online survey that all employees could access • Created in several languages • Could access at work or at home when they wanted to do the survey 8

5/3/2018 THE INFORMATION THE INFORMATION 9

5/3/2018 THE INFORMATION SO WHAT - DID THEY DO WITH THIS • Comparisons – ability to slice and dice • Able to compare across different locations • Created discussion • New opportunities came to light 10

5/3/2018 INDIVIDUAL DEVELOPMENT From Assessments to Onboarding ASSESSMENT 11

5/3/2018 ONBOARDING/TRAINING ONBOARDING/TRAINING 12

5/3/2018 ONBOARDING/TRAINING SO WHAT – KEEPS MANAGER & HR IN TOUCH • Employee is the key focus • Allows for conversations for employee and manager • The Follow Up • Helps the Employee • Identifies Managers that need reminded • Tracking of education classes • Y ou can apply the ROI for Finance 13

5/3/2018 SO WHAT DOES THE CFO NEED • Business Perspective • What return do you anticipate for the money invested in a new hire? • Use your People Data • Many HR professionals lack best practices and systems for collecting, tracking and reporting on people data • Reinforce the Human Element The CFO can frequently be the naysayer. • • Leverage HR expertise to enhance business vision • Tie opportunities to measurable performance metrics HUMAN RESOURCE IS WHERE IT ALL STARTS • The people are the key • Help Finance see by using information about what the people are doing and how it impacts the organization • Use your People Data • Provide the LEADING INDICATORS • Reinforce the Human Element • Develop the people with PROCESS for the Managers • Leverage HR expertise to enhance business vision • Give insight to what is happening – be PROACTIVE with a KPI Dashboard – Real Time Info that they need 14

5/3/2018 D ATA R EPORTING W ORKFLOW I NFORMATION WHAT DOES THE CFO AND FINANCE WANT 15