Optimizing the Workforce Balance Sheet

The Human Capital Balance Sheet analyzes workforce cost, spend, and risk to understand how investments in people drive organizational performance.

It provides a holistic view of an organization's all-in labor cost that is otherwise hard to obtain.

As different types of work arrangements (i.e., the gig economy, contractors, freelancers, etc.) have become more prevalent, the ability to track the rewards cost as well as the totality of workforce investments has become exponentially more difficult.

In other words, the future of work is changing in a way that can obscure the financial results of human capital investments, hiding them in buckets that even the most prudent chief financial officers, chief human resources officers, and other leaders are unable to track.

Why you should Attend

What the Workforce Balance Sheet is:

Every organization makes investments in the workforce that are critical to determining its performance, brand, and reputation. The key to making winning workforce decisions is to have a unified picture of all-in labor costs and workforce performance drivers
The Human Capital Balance Sheet has been designed to accomplish this feat. It can best be described as a single, transparent view of the workforce from the lens of cost, spend, and risk. It analyzes these factors to understand how investment drives organizational performance. This helps HR align on people priorities and make well-informed decisions about where to increase or maintain investment, or where to eliminate or cut back, to optimize the organization’s human capital investments

The Human Capital Balance Sheet helps the organization:

Work from a single, complete set of data, make key workforce investment decisions together, and monitor and measure the impacts of those decisions
Visualize human capital spend and understand the return on investments
Eliminate wasteful spend and increase investment capacity for new programs
Enhance the value of the current programs and plan for the future

Areas Covered in the Session

What is a Balance Sheet and how does it work?
How to create the Workforce Balance Sheet
What metrics should be included?
How to calculate all-in labor costs
Measuring Value versus all-in labor costs

Who Will Benefit

Speaker Profile

Greg Chartier is Principal of The Office of Gregory J Chartier, a Human Resources Consulting firm and is a well-known management consultant, educator and speaker and author of the recently published What Law Did You Break Today? His practice is based on the Business Partner Model of Human Resources, which places its’ emphasis on outsourcing, the use of technology to gain efficiencies and the improvement of managerial skills.

Greg is a thought-provoking professional speaker and his wisdom and insights into management and leadership make him an electrifying speaker and seminar leader. His seminars are customized to reinforce company mission, vision, values and culture and the content is practical for team leaders, managers, supervisors and executives. His philosophy is simple: management is a skill and you can be a better manager by developing your skills.

He has a Bachelors Degree from The Citadel, the Military College of South Carolina, an MBA from Rensselaer Polytechnic Institute and his Ph.D. in Human Resources Management from Madison University. Greg is certified by the Society for Human Resources Management (SHRM) as a Senior Professional in Human Resources (SCP) and as both a Senior Professional and a Global Professional in Human Resources (SPHR and GPHR) by HRCI, the Human Resource Certification Institute. He is a former Board Member of the Business Council of Westchester, where he was the Chair of the Human Resources Council and a member of the Executive Committee. He is a national member of SHRM and a local SHRM chapter, the Westchester Human Resources Management Association. He was also a member of the Board of the Child Care Council of Westchester.

Greg is involved in the Certification Program for Human Resources Management at Pace University, which includes the preparatory program for the Human Resources Professional Examinations and the Essentials in Human Resources Management Program and well as the Continuing Education Programs including HRCI and SHRM recertification. He is also a member of the faculty of the New York Medical College in Valhalla, NY.