What You Will Learn
- Learn key business acumen skills, behaviors and competencies.
- Understand, evaluate, and articulate the relationship between compensation and business outcomes.
- Grasp essential financial concepts, such as common profit measures and metrics.
- See your business operations through the prisms of competitive strategies, market position, allowances, and business life cycles.
- Evaluate your business on key performance indicators and see tools and approaches for evaluation.
- See the relationship between the compensation plan and the organization’s bottom line.
- Boost your communication skills and learn to engage in discussions with peers from other business areas.
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Who Will Benefit from This Course?
This course is ideal for HR and compensation professionals who want to boost their business acumen. |
| Course Synopsis
Boost your business acumen, gain the skills essential for strong decision-making and move your performance and career forward with the skills acquired in this course.
You will gain a broader perspective on your company’s operations, learn key finance concepts, see the nuances of how the business works internally and externally, and spot trends that shape future success. |
| Course Topics |
Introduction to Business Acumen
- What is acumen?
- Key competencies for compensation professionals
- Business acumen skills and behaviors
- The importance of business acumen
- Business acumen for the compensation professional
- Strengthening your business acumen —checklist
Business Basics: Purpose, Strategy, Position
- Why organizations are in business
- Competitive strategy
- Market position
- Business lifecycle
- Linking the business strategy and the compensation strategy
- Business basics —checklist
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Financial Literacy
- Why organizations use financial reports
- Types of financial reports
- Proxy and Definitive 14A
- Types of financial statements
- Sources of capital
- Market metrics
Financial Concepts and
Applications
- Evaluating the organization’s financial state
- Forecasting
- Forecasting questions
- Business analytics
- Strategic analysis
- Data analysis
- Key performance indicators
- Other performance metrics
- Budgeting
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Communication Considerations
and Connections
- Alignment of the compensation strategy
- Qualitative and quantitative data
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