Human Financial Capital
- Does the HR function and it’s leaders demonstrate the competencies outlined in the SHRM Bask business cluster? Specifically address the key concepts and skills outlined for leaders in Business Acumen, Consultation and Analytical Aptitude. Cite specific examples, programs, projects or initiatives that indicate proficiency. Alternatively, provide insight into the gaps in proficiency that exist.
- Write a reflection on the current state of HR’s relationship with the C-Suite leaders (CEO, CFO, COO, CAO) and whether or not HR is considered to be a key player at the decision-making table with regard to the development of corporate strategy. Does HR presently participate in the strategic planning process and from your knowledge what efforts has the function made to align HR programs and initiatives with business strategy?
- Discuss the last project or program that HR proposed to the organization for proposed implementation. How did HR support its argument to implement and was quantitative business analysis used to present the proposal to organizational leaders? What decision did the organization make on the program?
Sample Answer
Business Acumen
Business acumen is the ability to understand and apply business principles to solve problems and make decisions. HR leaders who demonstrate business acumen are able to:
- Link HR strategies and initiatives to the overall business strategy
- Understand and interpret financial data
- Identify and assess business risks
- Make sound business decisions
Specific examples of programs, projects, or initiatives that indicate proficiency in business acumen:
- Developing and implementing HR strategies that support the company’s business goals
- Using data and analytics to inform HR decisions
- Creating and managing HR budgets