This document discusses how human resources professionals should take a seat at the business table by understanding key business metrics and focusing their efforts on business priorities. It provides a six-step model for identifying business problems, calculating their costs, developing HR-oriented solutions, and measuring the cost-benefit ratio to demonstrate how HR can improve profitability. It emphasizes the importance of understanding elements like cash flow, margins, growth, and customers in order to contribute meaningfully to the business as a leader rather than just acting as administrative support.
* Understand the financial components of business
* Identify the levers that affect profitability
* Relate your personal finances to business finances
* Make more profitable decisions
* Understand the financial components of business
* Identify the levers that affect profitability
* Relate your personal finances to business finances
* Make more profitable decisions
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Mel feller looks at the power of motivation in your businessMel Feller
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The importance of motivation is often under-estimated and I, Mel Feller, would also endeavor to say that it's the least understood knowledge area among people who hold dynamic leadership roles within an business. Being proficient at motivating your employees will be a measure of your success as a leader. From my perspective, this is one key performance indicator (KPI) that should be on any leader's dashboard!
Before we, as leaders, learn how to motivate employees, it is important to take some time to understand why we need to our motivate employees! Why, because when we understand the why of something, we are in a better position to clarify the how, which increases our chances to actually inspire our employees. Therefore, accepting why you need to learn about employee motivation will naturally increase your motivational skills.
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The immediate effect of management skill might be larger in a turn-around candidate but it also requires skill to fortify the moats that long term keep competitors at bay.
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In this 1 hour webinar hosted by BizCentral USA, we take a look at the top reasons small businesses fail and how to avoid these dire mistakes! For more information, please visit: http://bizcentralusa.com/start_business.php
The small business critical success factors. Why do small business fail. What are the key performance indicators. What are the critical success factors. The leadership and team , their role in success. The customer, what makes him most important. Why are products and their positioning are important. Money is last but not least. It can make or break the situation.
Mel feller looks at the power of motivation in your businessMel Feller
Mel Feller Looks at the Power of Motivation in Your Business
The importance of motivation is often under-estimated and I, Mel Feller, would also endeavor to say that it's the least understood knowledge area among people who hold dynamic leadership roles within an business. Being proficient at motivating your employees will be a measure of your success as a leader. From my perspective, this is one key performance indicator (KPI) that should be on any leader's dashboard!
Before we, as leaders, learn how to motivate employees, it is important to take some time to understand why we need to our motivate employees! Why, because when we understand the why of something, we are in a better position to clarify the how, which increases our chances to actually inspire our employees. Therefore, accepting why you need to learn about employee motivation will naturally increase your motivational skills.
When it comes to running a business successfully, the street vendor and the CEOs of some
of the world’s largest and most successful companies talk and think very much alike.
-Ram Charan-
The immediate effect of management skill might be larger in a turn-around candidate but it also requires skill to fortify the moats that long term keep competitors at bay.
9 Business turnaround strategies designed particularly for small businesses that do not have access to some of the clout and resources larger companies can call on.
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Welcome to what many claim is the reality of the new sales leader. If you have just been hired or promoted into a high-level sales management job, your life expectancy is about 18 months...
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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
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Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
5. 5
Don’t Be a Waiter….
We must stop acting like the old “personnel departments”
of the past and we must stop being afraid of CHANGE
A waiter will just maintain the same ole’ same ole’
Sit at the table … take your role seriously… act like
the manager that you WANT to be and become the leader
that you NEED to be
Remember… Business = Money!!
6. 6
Sit at the Table!!
“A leader has got to show their troops the
route of the march and the destination”
Frank Pacetta
XEROX Sales Manager
7. 7
Don’t Be a Waiter …
“You can rule by divine right, or you can create and
be a leader, promote an atmosphere of learning,
creativity, and positive energy. That kind of
thinking brings gratification and high morale”
Mary Ellen Hiatt
Southern Home Furniture
8. 8
Sit at the Table!
We must be sure that we are COMMITTED to the
organization’s core purpose and objectives and we must
also ensure that we line our people up behind us.
The table is NO place for a pencil pusher or a paper
shuffler. It is a place of decision and action.
Take your seat by earning it and by showing that you
deserve to be there and that HR can make a difference
11. Six Steps
Business Problem
Cost of Problem
HR Solution to Problem
Cost of Solution
Dollar or Percent Improvement Amount for Solution
Cost-Benefit Ratio 11
12. 12
Six Steps to Building a Profit Center
1) Identify and analyze business problems from a
profit-oriented, not just service-oriented, point of
view
This could be a problem with productivity,
turnover, managerial effectiveness, sales, or any
other issue that every business must successfully
handle in order to be more profitable
This problem must be clearly stated and clearly
understood
13. 13
Six Steps to Building a Profit Center
2) Cost of Business Problem
It is not just important to identify the problem and
not do anything about it
We must determine how much the problem will
cost or what it is costing at present
This will allow you to measure the cost-
effectiveness of the solution
14. 14
Six Steps to Building a Profit Center
3) Solution to the Business Problem
What specific HR oriented solution could
overcome the problem?
Ex: Productivity is the problem
Possible solutions
Better selection methods
Incentive pay systems
Attitude surveys
Suggestion boxes
Teambuilding
15. 15
Six Steps to Building a Profit Center
4) Cost of the Solution
Simple cost accounting to determine what dollars
it will take to implement the solution
Important check at this point – will the solution
cost less than the problem??
16. 16
Basic Cost Accounting
Jot down each possible expense or benefit
Calculate the dollars associated with each expense or
benefit
Take as many costs and benefits into account as possible –
this will help provide the measure of how effective the
endeavor has been
Use conservative figures
This will help a cynical executive admit that the HR dept
efforts did indeed improve profitability
Keep it simple – do not create a mountain of paperwork
to carry out the solution!
Remember … we are trying NOT to be the stereotypical HR
department regarded already as paper pushers!
Get measurable results without the stigma
17. 17
Six Steps to Building a Profit Center
5) Improvement Benefits from the Solution
This should show the improvement value from the
solution
I.E., sales go up, costs go down, absenteeism
reduced, etc.
This dollar improvement amount should be more than
the cost of the problem and the cost of the solution
If the cost is more than the above, the solution was/is
not worthwhile from a cost-benefit standpoint
18. 18
Six Steps to Building a Profit Center
6) Cost-Benefit Ratio
Proves the bottom line measure of how successful
the solution was
Similar to a ROI
Tells us how much money was earned compared
to how much was spent
Ex: If a $100,000 improvement resulted from a
$10,000 solution the cost-benefit ratio was 10:1
For every one dollar spent on the solution, $10 was
reaped in benefits
19. Example of Planning Model
Business Problem
Decreasing sales at a steel products company
Cost of Business Problem
Sales dropping 10%/year
Current sales $90 million down from $100 million
Solution to Business Problem
Change salespeople’s compensation from salary-only to salary +
commission
Commission = 5% of each salesperson’s sales over
$1,000,000/year
19
20. Example of Planning Model
Cost of Solution
Number of Salespeople X Avg. Commission paid
100 X $2,500 = $250,000
$ Improvement Benefit
Benefit = Sales increase – commissions paid
$15 million/year less $250,000 (cost of the solution)
$14.75 million/year (Improvement Benefit)
Cost Benefit Ratio
60:1
$14,750,000:$250,000
20
21. Planning Model
The planning model is elegant in its simplicity
KEEP IT THAT WAY!
No mountain of paperwork to carry out the HR
Profit Center
Remember … K.I.S.S (Keep it Simple Stupid)
Get measurable results in a simple, effective
solution
21
22. 22
Sit at the table ….
The Five Elements of
Business
23. 23
The Five Elements of Business
1) CASH IS KING!
The oxygen supply of any company and allows
you to stay in business
Cash Generation
Or cash flow is the difference between cash that
flows into the business and the cash that flows out of
the business in a given time period.
How can HR impact cash flow in your company?
What single action can you commit to, to
positively impact cash flow in your company?
24. 24
The Five Elements of Business
2) MARGIN
What is left over after expenses are paid
Can be dollars or a %
Most common are gross and net
Gross margin deducts costs of goods sold
Net margin deducts all expenses
How do you improve Margin?
Increase the price or decrease the cost on a single product
or service
Increase sales or decrease expenses to improve company
margins
How can HR affect margin in your company?
What action are you committed to, to increase margin?
25. 25
The Five Elements of Business
3) VELOCITY
Means speed – decreasing cycle time and improve
employee productivity
How fast and how hard can you make your assets work to
make more money
The more increase in an asset’s ability to make money, the
higher the velocity
Improve Velocity in two ways
Decrease the amount of assets used to get results
Improve the results you get from assets
How does HR impact velocity in your company?
What action can you commit to, to increase velocity?
26. 26
The Five Elements of Business
4) Growth
Measured in three ways
Top-line (sales)
Bottom-line (profit)
Earnings per Share
Types
Organic – growth that comes from existing business
In-organic – from mergers and acquisition
No growth = lagging behind in the business world
27. 27
The Five Elements of Business
Growth
If your company is not growing … You will be
overtaken by competition
Forces a company to change and to anticipate
customer needs, as well as to look for new
opportunities
How does HR affect growth in your company?
What action are you committed to, to impact
growth?
28. 28
The Five Elements of Business
5) Customers
End user of your product or service
Can be another company or individual
Could also be internal customer
We must know our customer’s every move in preference,
emotion, and action.
We have to anticipate them or lead them in all areas
How does HR anticipate customer’s needs in your
company?
What action are you committed to, to better anticipate
customer’s needs and expectations?
29. 29
The Five Elements of Business
Without customers’ trust,
the rest doesn’t matter
30. 30
What do you know about your
company?
Understand Your Company
How much cash is on hand?
How much cash is generated from operating activities?
What is the net income?
What is the net profit margin?
How is that margin compared to competitors?
What are your company’s sales during last year?
Is the company growing?
What is your inventory turnover?
Is your cash generation increasing or decreasing?
Are you gaining or loosing to competition?
This is the language of TOTAL BUSINESS
31. 31
Understanding Your Company
Annual Reports/Financial Statements
Do you know where they are?
Can you read them?
Can you interpret and explain them?
∆οεσ ιτ λοοκ λικε Γρεεκ το
ψου???
32. 32
Annual Report
Statement of Income
P&L, Statement of Operations, Statement of Earnings
Indicates profitability
Balance Sheet
Statement of Financial Condition or Position
Indicates Financial Strength
Statement of Cash Flow
Details Cash flow between the business and the outside
world
Indicates CASH sources and uses
33. Where is YOUR Seat?
Where does Human Resources fit in the
total business picture in your company?
Do you know?
“Step back and get a total picture of
business. As you cut through the
complexity, you will get a clear fix on
what is happening in the real world”
Ram Charan 33
34. 34
Be a Leader … Build Relationships
Become a leader in your business
Focus your department efforts on being a leader of people.
Make decisions … right or wrong … make a decision!
Find the right people for the right job and take personal
responsibility for developing their skills and focusing their
energy
Why is it that no one ever flunks a company training
program??
Be a conduit for linking people’s effort to business priorities
BUILD THE TEAM that will support and run the company
Be a part of the BUSINESS that is your business
35. 35
Be a Leader … Build Relationships
Maximize every employee’s level of contribution
Treat them with the same way a hospital treats its doctors,
the airline treats its pilots, and a law firm treats its
attorneys … as professionals
Success in any given employee might just hinge on
whether or not you know their name and whether or not
they are treated as if you care about them and that they
have the talent needed to be successful
Positive people success and positive relationships will
ensure your seat at the Table … they will equate with
YOUR success!
“Relationships are the glue to which hold teams together”
John Maxwell
36. 36
Grow Relationships with People
“What really distinguishes trusting relationships
from distrusting ones is the ability of those
involved to make a leap of faith…they must
believe that each is interested and committed to
the other’s welfare, and that neither will act
without first considering the other” ….
Contented Cows give Better Milk
Richard Hadden
39. 39
Growing People
The right person in the right job
Dealing with mismatches
Are you afraid of making or recommending
changes? Why?
Coaching
For success
For business
For behavior
We must help people expand their abilities and
synchronize their work efforts
40. 40
Grow Relationships with People
The Least Important Word: I
The Most Important Word: We
The Two Most Important Words: Thank you
The Three Most Important Words: All is forgiven
The Four Most Important Words: What is YOUR
opinion?
The Five Most Important Words: You did a great
job!
The Six Most Important Words: I want to
understand you better
41. 41
Grow Relationships with People
Take these to heart … everything we do relates to words
and our choice of them.
Put them together in the proper way and we can reach
out not only to each other, but to our employees.
Use these as priorities in dealing with others and it will
allow us to see things from the OTHER side.
The key to growing relationships lies in these words …
we are all human beings and we all want to be treated as
such
Bottom line …. Become a servant leader in your
organization
42. 42
Grow Relationships with People
“Sincerity is the most important part of positive
treatment. The only thing worse than a coach or
CEO who doesn’t care about his people is one
who pretends to care. People can spot a phony
every time. They know he doesn’t care about
them, and worse, his act insults their
intelligence”
Jimmy Johnson
43. 43
Let Your Principles Be Your Guide
“A people that values its privileges
above its principles soon looses
both”
Dwight D. Eisenhower
44. 44
To Certify or Not to Certify?
If you do not take the time to earn your
PHR/SPHR/GPHR/CEBS then why should you
get a seat at the table?
Seats at the table are earned through hard
work and measured success
Certification is a true indication of YOUR hard
work and a measure of YOUR success
These designations speak volumes in our
profession
www.HRCI.org
45. 45
HAVE FUN!
Choose your attitude …
you must provide the contagious good attitude and help it
flourish
Be a servant leader ….
Understand it and live it
Stay involved and give good honest feedback
Commit yourself to helping others succeed
Make their day as fun as yours … it works!
“If its to be … its up to ME!”
Dr. Tim Lautenheizer
46. 46
Tomorrow and Beyond …
What are you going to do differently tomorrow?
Are you going to do anything differently tomorrow?
What actions did you commit to during this presentation?
What is going to be your first move?
Talk to your partner and exchange e mail and phone
numbers … commit to a specific date to get back together
and review what you did to make an impact.
Don’t back away from the challenge … pick three or four
items to focus on and go beyond the normal HR
department and build a department that can execute
business priorities and watch you career and your
department take off!
47. 47
Final Thoughts
“Do or do not … There is NO TRY”
Yoda
“Blessed are the flexible for they
shall not be bent out of shape”
Michael McGruff
48. 48
Don’t Be a Waiter …..
CHANGE
Its time to embrace, accept, and lead!
50. 50
www.thehrdude.co
m
Michael Brady, M.Ed., SPHR
michael.brady@beis.com
mike@thehrdude.com
Twitter: LaHRDude Linked in:
Michael Brady
“When someone shares with you something of
value, you have an obligation to share it”
Chinese Proverb
51. 51
References
Charan, Ram. “What the CEO Wants You to
Know”. 2001
Merecer, Michael. “Turning Your HR
Department into a Profit Center”. 2002
Hadden, Richard. “Contented Cows Give Better
Milk”. 2001