I was interviewed last week on DriveThruHR with Brian Wempen. (You can listen to the interview here). We discussed the relationship between Human Resources and Finance. Being that the audience was mostly HR people, I challenged these HR people to understand how to become valuable to the CFO and the Finance Team.
This week, I would like to discuss the value of HR to Finance. And I found some numbers to back it up. (Most CFOs I know like numbers).
I spotted this interesting blog by Dr. John Sullivan which brought to my attention a Boston Consulting Group study which discussed the value of HR Processes on Profit Growth, Profit Margin and Total Improvement.
I recommend reading the entire post to get the full details of which HR Processes add most value.
But I would like to bring to the CFOs attention the following results from the survey.
Recruitment is the most valuable HR function to a company.
OnBoarding and Retention is the second most valuable HR function.
Questions to CFOs:
- Do you find that these HR processes are most valuable to you and your company?
- Does your current solution (internal and external) provide you with this high level value?
If you’ve answered no, give me a call. We need to talk.
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Maureen O'Connell says