How to Make Creative Graphs

Creating the presentation is an art and how information & converted to insights and insights are converted to actionable imperative show the intellect & creativity of a professional. Presentations are vividly becoming important for every professional in any profession. Be it for the usage for presenting it to clients, internal or external stakeholder or wider audience on web-conferences you need to ensure your presentation needs to be crafted to cater the audience to it best.

In this regards, the visual representation of data which in turns alludes to intuitiveness of content become paramount important. A professional is perceived a lot how he/she presents self and the content. Especially while dealing with large amount of data, the graphs becomes very important.

Choosing a right kind of graph is nightmare to even best of presentation maker. In our blog today we will share with you the easiest way to choose right kind of graphs for making your presentation more impactful and effective.

We have taken this excerpt from http://www.extremepresentation.com/

If you liked our blog, please leave a comment. Thanks for your time for reading.

 

Resource Management and Financial Impacts

Introduction

As discussed in our previous post, today we shall discuss about impact of resource management on the bottom line - the Financials.

Let's understand some key jargons which we use in day to day RM world.

Manpower needs/Staff/Resource Size — As Resource Managers, we have a keen awareness of upcoming headcount changes. Financial analysts perform projections based upon planned headcount changes so it is important to share this information with them.

Billing Rate — The rate which are charged to client for doing activities and tasks for them.

Realization — The resulting % of Billing rates earned after discount determined by negotiations w/ client. Some companies follow this rules while some does not as they work on Fixed price deal.

Utilization — Utilization = Client service hours/Standard hours, where, Standard Hours = (40 hours/week * # of active weeks)

·               Typically 2080 hours/yr (i.e. 40 hours/wk * 52 weeks in a year) for most of the organisations around the world

·               New Hires should calculate 40 hours/wk * # weeks since start of employment.

·               Utilization calculation is not adjusted for leaves or Holidays in most of the firms.

To maximize utilization

1. Time sheet Follow up : Practitioners report client service hours in timesheet portal, which feed into the financial statements.
2. Timely time sheet submission relates directly to revenue/plan/forecasting, etc.
3. Run utilization reports
4. Shows billable and non-billable time, by resources
5. Information should closely align to allocation of resources in their respective projects

How can Resource Management help Business

1. Know our Business Terminology
2. Understand our financial results
3. Provide information regarding headcount
4. Provide the management insight into staffing trends
5. Run RM Analytics : 
• Additional professionals needed by level?
• Any levels overstaffed?
• Encourage practitioners to project all planned activity (i.e. leaves, Training, Recruiting, etc.) that impacts their availability for billable hours.

The above tips will surely help you become a better resource management and will be adding a lot of value at bottom line (revenue).

©2014 - TheHumanCapital       

Role of a Resource Manager (RM) ( #Resourcing #Talent Management)

Role as a Resource Manager

The key role of RM is Deployment & Staffing. RM are responsible for deploying practitioners while balancing the following factors:

·               Understanding our Business

·               Knowing our Client Needs

·               Maximizing Utilization

·               Balancing the Goals, Interests and Development of our people

·               Help leadership in making decisions by providing timely information and correct reporting.

·               Partner with leadership to help make the best deployment decisions and can better serve them with a basic understanding of the financials.

·               Resource management professionals have a direct impact on the financial performance as a practice.

·               Watch for unethical behavior and raise it to the attention of leadership. Example: Project manager asks a resource/professional to reverse a large number of chargeable hours for a project that is over budget.

Resource Management and Financial Impact

There are five key drivers which determine our financial performance:

·               Staff Size — How many resources we have on staff?

·               Billing Rate — How much we charge for each resource’s time?

·               Utilization — How busy is each resource during the year split into periods and weeks?

·               Realization — How much do we actually bill and collect for the work we do?

·               Overhead Cost — How much does it cost to run the business?

In our next post, we will discuss these key drivers in details. Stay tuned.

©2014 - TheHumanCapital

Mantra for Running Effective Meetings

One of the aspects of true human resources professional is on how you manage your time especially the meetings.  The resources managers are always frequent telecons & meeting organizers as one of the critical aim of such meetings is to bring leadership the right kind of insights and recommendations. The true value or ROI can come if you are able to manage the meeting effectively i.e. the recipient of information clears receives / acknowledge the information. Hence planning your meetings are of paramount importance for every resource managers.

The above techniques/tips from us will surely try to help you in becoming better organizer and will infuse some of the key leadership skills by running effective meetings.

©2014 - TheHumanCapital

Resource Management - An Introduction

Resource Management is one of the most commonly used terminology in today's Human Resources world. Wikipedia definition states that "Resource Management (RM) is the efficient and effective deployment of an organization's resources when they are needed. Such resources may include financial resources, inventory, human skills, production resources, or information technology (IT)."


In layman's language for somebody who is just starting his/her career in Human Resource Management, RM is all about deploying/allocating/staffing right professionals, at right job, at right time, at right cost & at right utilization to meet business goals and develop human capital of the organization.

The inception of RM, started since early 20th century when industrial revolution was just kicking in and need for mass production arose. The factories started hiring human resources in bulk and hence effort to effectively utilize them became paramount necessity. Those factories and companies started over burdening the resources/workforce with just one intention - being ahead of competition. The human aspect was getting lost, no body seemed to be bothered about labor welfare and words like "work-life-fit" did not exist then.

Gradually as we moved from Industrial revolution to new kind of revolution known as Information Technology & Telecom, with increased use of computers, software and related infrastructure, the workforce was transitioning from factory workers approach to knowledge worker approach. Just than in late 90s with Internet boom, the whole paradigm shifted and the need for software & IT services grew, and the birth new world of eCommerce was taking place.

The need for knowledge worker grew - the sudden surge of IT and Computer science professionals was instrumental in shaping up next gen. companies like #Amazon, #Google, #Facebook, #Mircosoft, #SAP, #Oracle , #Ericsson , #AT&T, #Vodafone, #TATA etc.

These were the companies which hires thousands of professionals each year to stay in business and have competitive edge. Some of these firms have over ten of thousands of professionals across multiple locations around the world. Hence the challenge of managing , deploying and developing them started becoming a challenge. This lead to a golden era of what we know as Strategic Human Resources - the new HR where its no longer perceived as a cost center/ support function, but was rather being recognized as Business Partners (the strategic advisor). Since professionals or resources are most important assets of all,the Resource Management (RM) started carving out of Strategic HR Management.

Next the next blog we will discuss on understanding resource managements in details and how does it impacts the business.