Human Resources Systems for Finance Executives

Human Resources Systems for Finance ExecutivesHuman Resources Systems for Finance ExecutivesMany CFOs find that their responsibilities have been expanding lately. In a Robert Half Management Resources survey, 85 percent of CFOs said their role now extends beyond the accounting and finance department, most commonly into menschengerecht resources.Financial executives are often collaborating with HR on benefits and other areas that not only affect a firms bottom line, but also its ability to attract and retain leading employees, says Paul McDonald, senior executive director for Robert Half.In light of this trend, CFOs should understand how and why their organizations use human resources systems. Following are three functions of particular interest1. Generating performance dataHR data is not always as cut-and-dried as financial data. Even when the metrics for assessing employee performance are rigorously defined, theres subjectivity when assessing people. If you want to get to the bottom of quantifying performance, you must first understand what is being measured and how.Performance appraisal systems are designed to measure as accurately as possible how well an employee is meeting the responsibilities and challenges of his or her particular position.A key advantage of these types of human resources systems is the capacity to minimize any subjectivity in the overall review of an employee. Comprehensive job descriptions and competencies in the program can help provide an empirical picture of whether an employee is, in fact, fulfilling the requirements of that particular job.Get acquainted with how your human resources systems are being used to track employee performance data. Doing so can help you to crunch the numbers when human resources systems reports come in.We can help you and your team by providing expert support when you need it most.WORK WITH US2. Implementing a talent strategyImplementing a strategy for recruiting top talent is a fundamental role of the HR function in any organization. The businesss longevity depends on its ability to attract top performers, as well as its employee retention. And if the talent calculus isnt adding up, there could be a major recruitment expenditure in your companys future.Many of todays talent management systems aid in a variety of decision-making processes by focusing on improving employee performance and helping managers plan for the future of their workforce. CFOs should know how to pull data from this program and assess whether the company is on track.3. Automating common HR tasksKeeping up to date with technology and software can reduce the workload for your HR team. Online options enable employees to manage documents such as vacation allowances and keeping their tax information up to date. E-learning systems can deliver notices about regulatory compliance training, automate the scheduling of training, and dispatch reminders when refreshers are due.When these functions are streamlined and automate d, it becomes easier, quicker and less expensive to implement new policies - which benefits your bottom line. Understanding the human resources systems at your disposal can facilitate better decision-making, including to help your company keep costs under control.Human resources systems are only one area in which CFOs need to understand the workings of their HR department. But its a critical aspect of staying current with personnel issues for your business.Want more management insights? Subscribe to our newsletter

PhD or Not to PhD

PhD or Not to PhD PhD or Not to PhD To Ph.D. or Not to Ph.D.?Youre speeding along in your career when suddenly you see the top executives in your company have doctorates. Or youre getting ready to graduate with your B.S. and dont know whether to go for the doctorate while youre already in student mode or get some income coming in. It brings up that great question To Ph.D. or not to Ph.D.?Dr. Jason Somerville, chief technologist for Aerophysics, Inc., Houghton, MI, received a degree in physics from The Ohio State University in 1998 and worked for National Instruments in Austin, TX. But, eventually, the Ph.D. question hit. I did software development but wasnt exercising my full capabilities, he recalls. It prompted me to start looking around within the company and outside the company to find a better job. I saw what I wanted probably didnt exist where I was and to get it outside the company I needed at least a Masters and maybe a Ph.D.Staying FocusedSomerville committed to focusing on engineering mechanics at Michigan Technological University. Having finished his doctorate in 2008, he feels it was easily the right decision, a decision he saw had an even better outcome by not working full time while attempting it. You have more time to focus on school and its helpful to not have any outside work responsibility pulling you from completing your dissertation, he says, his final thesis dealing with cathode coupling.A masters degree or Ph.D. is needed for many research jobs.Dr. rocknroller Lynch, CEO at Southland Industries, Washington, DC, a mechanical contracting firm, decided to go for a doctorate in architectural engineering and also doesnt recommend sticking with a full-time job while you do. Its not just the workload, its the mindset, he says. A doctorate can become all-consuming in your search for knowledge and its very difficult to throw in other variables. Even having a family can be tough. Lynch, who worked his last two summers at Southland Industries while p ursuing his doctorate, says the Ph.D. was absolutely worth it, not necessarily for the research but how it got him to take a step back and evaluate his overall direction. I looked at my future and what company do I want to work for, he says. It gave me exposure to a lot of different companies, that piece is invaluable.New KnowledgeHe also thought his Ph.D. was an advantage because it allowed him to do research on the business side, giving him the kind of thinking that cant often be ignored as a CEO. Finally, he says it gave him time to realize he wanted to be with a firm that had both the construction and engineering piece in-house. It gave me time to pick between the right companies for me, he says.But what about that thesis we keep hearing about? Should thatscare people off? Both agree its manageable but Lynch says the real challenge is the originality it requires. Its hard because half the battle is identifying the problem, Lynch says. You have to contribute new knowledge, so you need to ask what else has been researched at that point, what piece are you solving that no one has worked at yet. You can go down a number of different roads.But with the chosen road leading to the most complex paper youll ever write, Somerville advises not to expect it to be easy, either.Eric Butterman is an independent writer.A doctorate can become all-consuming in your search for knowledge and its very difficult to throw in other variables. Even having a family can be tough.Ted Lynch, CEO, Southland Industries

5 Power Words to Make Your Resume Get Noticed

5 Power Words to Make Your Resume Get Noticed5 Resume Power Words5 Power Words to Make Your Resume Get NoticedYou dont have a lot of time to grab a hiring managers attention when he or she begins looking at your resume. Get your resume noticed by using action jas that carry more impact than their milder alternatives. Here are five examples of resume power words that outshine their blander cousins.SPEARHEADEDMeaning To spearhead means to be the leader of something. But more important is the words connotation. This word just oozes leadership, taking charge, and being a self-starter. And employers like any or all of those qualities in an employee. This word is especially helpful if you took charge of a project that delivered noticeable results.Example Spearheaded development of new distribution scheduling system that saved 25% in labor costs in first year after deployment.Milder Alternatives to Avoid Led or Played a Key Role. The first is just bland when compared with Spearheaded the se cond doesnt say anything about how you were a key player.CREATEDMeaning To create means to cause or bring something into being. As for the connotation, theres nothing ambiguous about this word. It says action and tells the hiring manager that the potential employee may have some creativity that we could use in this role.Example Created new e-commerce functionality that helped increase page views 30% and drove 10% increase in Internet sales in first three months of operation.Milder Alternatives to Avoid Helped make or Facilitated. The first downplays a potentially critical accomplishment if, in fact, you were out in front doing the creating and not taking a back seat, supporting role. The second conjures up images of someone leading a group discussion or moderating a dispute. You dont want to confuse that with creating.INITIATEDMeaning To initiate means to start, launch, or ignite. But again, it carries that sound of action, which translates into, Heres someone who can make things ha ppen, and we need someone like that in this middle management role.Example Initiated follow-up campaign to discover why former customers turned to competitors products. Effort led to reorganization of customer service function and 20% increase in customer retention within one year.Milder Alternatives to Avoid Started (duh) or began. Slightly less mild but still on the avoid list proposed.ACCELERATEDMeaning To accelerate means to cause faster or greater activity, the same as stepping on the accelerator in your car. So, whats not to like about this word? It connotes speed, action, making something happen, or making a difference.Example Accelerated development of new line of power tools in response to market trends, securing companys first-to-market lage with new offerings.Milder Alternative to Avoid Sped up. Its OK but just doesnt carry the vigor that accelerated does.CONSOLIDATEDMeaning To consolidate means to bring together into a single or unified whole. The word is especially eye- catching when employers are looking for people who can help control costs by finding more efficient ways to get work done anything that makes a process faster, better, or cheaper.Example Consolidated functions while maintaining efficiency levels in Finance Department by identifying redundancies, reassigning staff, and reorganizing workloads.Milder Alternatives to Avoid Brought together, Merged, Combined, United. Of these four, merged is only slightly better than the rest, but not as strong and impactful as consolidated.