In many organizations, Human Resources (HR) and Finance operate as distinct business functions, each with its unique responsibilities. Finance plays a pivotal role in resource allocation, balancing costs and revenue to support the organization's objectives. Meanwhile, HR focuses on recruiting, hiring, and motivating employees, often representing a significant portion of an organization's expenses.
The intrinsic connection between HR and Finance lies in the management of employees and their associated costs. Every organization depends on its workforce, and every employee comes with expenses, including salaries, bonuses, and benefits. According to Forbes, a 2019 research study by OrgVue revealed that only 25% of HR leaders consider their collaboration with Finance as "collaborative," while 45% view it as merely "productive." Recognizing and enhancing this partnership is essential for optimizing resource management and achieving organizational success.
Despite their separate functions, fostering collaboration between HR and Finance is imperative. Without such collaboration, these entities may struggle to effectively support the overall organizational goals. In this webinar, we focus on mastering collaboration between finance and HR to increase business outcomes.
1. Understanding the critical need for Human Resources and Finance departments to work together to align financial strategies with human capital management, ensuring organizational success.
2. Identifying and addressing potential obstacles and issues that may hinder effective collaboration between HR and Finance.
3. Practical approaches and best practices to foster a productive partnership between HR and Finance, including transparent data sharing and cross-functional teams.
4. Speaker's success stories where the collaboration between HR and Finance has led to improved decision-making, cost savings, and enhanced employee satisfaction within organizations.