Human Resource Department Return Calculation Excel Tool
  • Human Resource Department Return Calculation Excel Tool
  • Human Resource Department Return Calculation Excel Tool
  • Human Resource Department Return Calculation Excel Tool
Originally published: 17/04/2019 16:43
Last version published: 16/12/2019 07:02
Publication number: ELQ-11928-2
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Human Resource Department Return Calculation Excel Tool

This tool will assist you in framing a discussion around the return on the Human Resources Department.

Description
This tool will assist you in framing a discussion around the return on the Human Resources Department. The model measures three key roles of the Human Resources department:

1) Hiring and Retention

2) Training and Development

3) Culture Creation/Maintenance

Pitfalls to watch out for:

This model penalizes startups and fast-growing companies whom by definition or design have an “inexperienced” employee base. That makes sense to us because we expect more resources must be committed to maintain or develop the desired culture in these situations.

It may not be simple to project the benefits or costs of recruiting and skill development. Unfortunately, that doesn’t make it any less important. Use the discussions around these areas to develop understanding between management and HRD on what is required to begin a recruiting campaign or commit to specific skill development efforts.

The benefits of skill development may be an annuity. In this model they are treated as a single year benefit. Be aware of this when using this tool - just like you should when you make the skill development investment decision.

Let us know how we can improve our tools to better serve you.

If you have any questions or stumble along the way, please reach out to us at CFO.University. You wouldn’t be here if you didn’t believe professional growth was critical to your success. We wouldn’t be here if we couldn’t help you accomplish that.

This Best Practice includes
1 excel file

Acquire business license for $20.00

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