Manager Financial Planning & Analysis
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Whether you want to start a career as an accountant, business analyst or consultant, or you want to start your own business and manage an area – a variety of roles require strong skills in budgeting and planning. self
Manager Financial Planning & Analysis
This course provides an introduction to financial analysis, showing you the key tools at your disposal to begin analyzing and optimizing business performance. You’ll learn to find your way around the balance sheet, understand financial performance analysis, and decide which analysis tools to use for each.
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Countless businesses fail because they don’t understand their finances and lack proper analysis when making key business decisions. You will explore the main functions and purposes of business planning and budgeting and how they contribute to business objectives.
Financial analysis involves the interpretation of business financial statements to determine profitability, helping businesses make sound decisions with complete knowledge of performance, expected revenue, and profitability. You will learn to isolate and implement different analytical tools to provide business insights.
Applying your knowledge, you will conduct and interpret key analytics to create a set of performance metrics to inform business planning and operations.
Highlight new job-related skills you’ve acquired and enhance your existing qualifications with hard-earned, industry-specific digital certificates – plus one for each course in your ExpertTrack.
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At every stage of the course you can meet other students, share ideas and join active discussions in the comments.
This course is designed to support students who need to work with large amounts of financial data. This includes entry-level finance or accounting professionals who want to advance to senior positions, and current financial professionals. It is useful for new managers and leaders, as well as business workers and entrepreneurs.
In this course, we will use Excel. If you don’t have Excel, you may find this online version useful.
Commercially focused Finance Director / CFO with experience working with fast growing online SMEs across various sectors, including two successful ones (Amazon Acquisition & Funding Circle IPO)
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A leading social learning platform and has been offering high-quality online courses to students around the world for the past ten years. Well-executed headcount planning can help your organization grow sustainably and improve performance. It is best to plan headcount in your business.
Headcount planning refers to creating a plan to ensure that your organization has the right number of people with the right skills to meet your organization’s short-term and long-term needs.
This process ensures that the organization works within a set budget to hire or retain the right number of people with the right skills and abilities to achieve its goals.
Headcount planning includes setting hiring goals, creating reskilling and upskilling plans for current employees, reducing employee turnover, and analyzing workplace occupancy and company-specific goals and strategies.
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HR practitioners direct the headcount planning process, collaborating with business leaders and managers to understand organizational needs and goals.
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Engaging in the headcount planning process has multiple benefits for an organization. Here are some: Essentials of Financial Planning & Analysis
Organizations can do financial planning effectively when they know what roles people play.
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Let’s see what this means in recruitment. All the positioning strategy and recruitment costs you need to hire (job ads, staffing agency costs, onboarding costs) will allow you to make the right decisions to plan your budget according to the needs of your employees.
For example, if you determine that you will need to hire five engineers in the next three months, you will save money on a single advertisement and sign all five engineers at once.
Or, if you’re a startup and need additional funding from investors, having a clear organizational chart with the roles you need to hire can help demonstrate your vision for the company and your plan to achieve it. A robust recruitment plan
Headcount planning helps you decide which roles to hire. You can plan your recruitment efforts realistically when you need to stretch your budget to hire part-time or temporary store employees during holidays or important seasons.
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For example, you’ve just launched a new service and need someone after sales. You can use headcount planning to hire people based on forecasted business performance and changes in the market. You can also use it to identify the specific skills and experience of your salespeople and your overall team structure.
Other opportunities for headcount planning include staff upskilling, career promotion, salary adjustments or company restructuring. Effective use of talent (future).
Forecasting should be part of the headcount plan to predict past trends, current conditions and future events. This will help you manage your expectations and create a plan to exceed them.
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In addition, you will gain a better understanding of how to use your talents. That way, you will create an efficient and productive workforce that will help you achieve your goals.
As an HR professional, you should also spend time planning and analyzing your future workforce. In your analysis section, you should include:
If you know what changes to expect in your workforce, you can also look at how to change your techniques, procedures and policies.
For example, HR financial planning can result in salary increases, health insurance and monetary incentives (such as sales incentives and retention bonuses). HR and management can collaborate to make financial decisions based on accurate headcount data and future plans.
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And as your organization grows, you may need to add new tools to your HR technology stack to manage people’s schedules, hire more qualified candidates, or provide a better employee experience.
Alternatively, if your company wants to succeed in developing and motivating employees, distributing the workforce, diversifying the workforce, or hiring new employees, headcount planning is essential. It can help you avoid overstaffing, reduce hiring costs, maximize your L&D budget, and increase the efficiency of your overall human resources strategy. Best Practices for Headcount Planning 1. Review your organization’s plans, goals, and challenges
If you’re developing a new market, you need to gain a lot of insight into the type of people you need. Do you need to find a new employee with a specific skill that is not available in your current workforce, e.g. Local language skills? Or is it better to train your current staff to acquire the necessary skills that will increase employee satisfaction and retention?
Or, if you’re aiming to increase your profits by 40% this year, you know you need to hire more people to meet your sales goals. 2. Put the headcount report in order
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Quality headcount reporting is essential to your headcount planning process because it provides accurate information about your current workforce that you need to employ.
It provides qualitative and quantitative information about various employees in your organization, which is useful in planning and forecasting your business so that you can improve the work efficiency of your workforce.
This headcount data usually comes from your company’s HRIS. This HR software helps manage and process all the above employee details – along with HR policies and procedures – that can be summarized into a single, easy-to-understand report.
As mentioned, HR usually includes the headcount planning process, but requires input and assistance from other people and departments. This includes company leaders, department managers and finance teams. You need to recognize the insight and get the help and engagement you need.
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In the case of a start-up, or small company, usually the CEO or managing director is responsible for headcount planning. 4. Collect enough data
View data in your HRIS, ATS and headcount reports. Find team size and ratio benchmarks and integrate the data with your company’s growth plans. For example, you may need to consider the ratio of sales to marketing employees. You need all these for effective headcount planning.
Or it can help you find inefficiencies in your company. Suppose you notice an increase in people working overtime. Then it’s time to hire additional staff. 5. Find the right headcount planning tool
If you have a limited budget, downloading or creating a headcount planning Excel template will suffice. You can save money, but it’s time-consuming and error-prone.
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So as your business grows, you may benefit from specialized software with headcount planning functions such as Charthop or Anaplan. It helps you automate boring and repetitive tasks, for example, managing a team schedule like assigning multiple people to each shift or project. It makes critical metrics visible and can generate real-time reports on demand.
So as your company grows, headcount planning is a process that becomes easier and easier