Index

Financial and Managerial Aspects in Human Resource Management: A Practical Guide

ISBN: 978-1-83909-615-0, eISBN: 978-1-83909-612-9

Publication date: 13 January 2021

This content is currently only available as a PDF

Citation

(2021), "Index", Pepple, D. and Zhang, C. (Ed.) Financial and Managerial Aspects in Human Resource Management: A Practical Guide, Emerald Publishing Limited, Bingley, pp. 161-165. https://doi.org/10.1108/978-1-83909-612-920211014

Publisher

:

Emerald Publishing Limited

Copyright © 2021 Emerald Publishing Group Limited


INDEX

Index

Note: Page numbers followed by “n” indicate notes.

Absenteeism
, 110

reducing
, 111

Abstract conceptualisation
, 66

Accommodation costs
, 112–113

Accountants
, 41–42

Accounting (see also Financial statements)
, 54, 57

functions
, 54–57

HR decisions and
, 57

listing of functions of accounting and finance
, 58–59

ratio
, 24

thinking about HR decisions
, 59–60

Acid test
, 34

Administration
, 58–59

Adoption leave payment
, 113

Advisory, Conciliation and Arbitration Service (ACAS)
, 78, 86, 92–93

Annual bonus
, 124–126

Annual report
, 23

Arthur Andersen (AA)
, 41

Assets
, 5, 16

turnover
, 29

Atkins family-friendly policies
, 110

9/11Attack
, 103

Auditing
, 58

Average inventory days
, 29–30

Average profit before tax generated per FTE employee
, 34–35

Average relocation cost
, 101

Average trade

payables payment period
, 30–31

receivables collection period
, 30

Average weekly earnings (AWE)
, 113

Bad debt
, 18, 31

Balance sheet
, 15–16

questions and answers
, 132–134

Bank of England (BoE)
, 43

Base salary
, 123

Basic award calculation
, 93–96

Behaviour, cost classification by
, 14

Benefits and perquisites
, 121–122

Bloom’s Taxonomy
, 67

Bonus
, 120

Budgeting
, 59

Capital decisions
, 59–60

Capital employed
, 16

Capital structure
, 24, 31

gearing ratio
, 31–32

interest cover
, 32–33

Carer policies
, 109

Cash
, 54–55

Change-in-control clauses
, 122

Chartered Institute of Personnel and Development (CIPD)
, 86, 102

Chessett plc
, 24–26

Chief executive officers (CEO)
, 56, 120

Children and Families Act (2014)
, 108

Code of Practice
, 86–87, 90

Cognitive approaches
, 66

Compensation at tribunal
, 91–92

Competition and Market Authority (CMA)
, 43

Competitors
, 131

Compressed hours work
, 109

Conduct-related issues
, 87

Consolidation in financial statement
, 20

Consumers
, 75

Contemporary workplaces
, 109

Control
, 55

Control of costs
, 24

control of staff costs
, 27–28

gross profit percentage
, 24–26

profit from operations as percentage of revenue
, 26–28

ROCE
, 28–29

Core benefits
, 124

Core-flex
, 99

Corporate governance
, 120

Corporate governance influence on executive reward
, 127–129

Corporate social responsibility (CSR)
, 120

influence on executive reward
, 127–129

Corporate-level directors
, 120

Cost classification
, 14

by behaviour
, 14

by function
, 14–15

by nature of resource
, 14

by type of cost
, 14

Cost of goods sold (COGS)
, 12

Cost of Living Adjustment (COLA)
, 102

Cost of revenue (COR)
, 12

Cost of sales (COS)
, 12

Cost(s) (see also Financial statements)
, 21

accommodation
, 112–113

associated with employment tribunal
, 91

implementation
, 112

of management time
, 91

procedural
, 112

of relocation
, 98, 100

types
, 111

Costing relocation package
, 100–102

COVID-19 pandemic
, 70, 103

Creativity
, 67

Critical reflection
, 104

Current assets
, 16

Current liabilities
, 16

Current ratio
, 34

Data, information and knowledge hierarchy (DIKW hierarchy)
, 55n2

Decisions
, 59

Demotion
, 88

Deontological theories
, 42

Depreciation
, 19

Digital solutions
, 69–70

Direct billing
, 100

Direct cost
, 14

Direct delivery
, 70

Direct reimbursement
, 99

Disciplinary (see also Grievance)
, 86

dismissal
, 88–89

distinguishing between unfair dismissal and wrongful dismissal
, 89–90

procedure for
, 87–88

questions and answers
, 148

reasons to initiate disciplinary process
, 86–87

Discounted cash flow (DCF)
, 59–60

Dismissal
, 88–89

distinguishing between unfair dismissal and wrongful dismissal
, 89–90

Dividend payout percentage
, 33

Domestic relocation
, 98

E-learning
, 69

Earned pay
, 122

Earnings before interest, tax, depreciation and amortisation (EBITDA)
, 12–13

Earnings per share (EPS)
, 33

Ebit (see Operating profit)

Educational programmes
, 69

Efficiency
, 24

asset turnover
, 29

average inventory days
, 29–30

average trade payables payment period
, 30–31

average trade receivables collection period
, 30

ratios
, 29

Employee relocation
, 103

costs
, 98

Employee turnover
, 110

reduced employee turnover
, 111

Employees
, 99, 131

counselling, coaching and training
, 81–82

financial advice
, 82

reduce uncertainty
, 80–81

support/assistant
, 82

supporting employees through redundancy
, 80

Employers
, 87, 99

Employment Act (2002)
, 108, 112

Employment Act (2008)
, 90

Employment Relations Act (1999)
, 108

Employment Rights Act (1996)
, 108

Employment tribunal
, 90–91

avoiding
, 92

cost associated with
, 91

defending claim at
, 91

Ethical egoism
, 42

Ethical theories
, 42

Ethics
, 41

Executive compensation
, 120

components
, 120–122

objectives, costs and risk in designing packages
, 122–127

questions and answers
, 149–151

Executive reward
, 122

influence of transparency, corporate governance and CSR on
, 127–129

Expatriation assistance
, 100

Expected pay
, 122

Expenses
, 18

Experiential learning events
, 70

Experimental economics/game theory
, 42

Explicit knowledge
, 67

Extensive KM systems
, 67–68

External stakeholders
, 11

Face-to-face delivery
, 70

Family-friendly policies
, 107–108

Atkins family-friendly policies
, 110

barriers to implementation
, 115–116

calculating maternity, paternity and adoption leave payment
, 113

carer policies
, 109

financial implications of
, 111–113

flexible working
, 109

importance of
, 110–111

origin of
, 108

parental, maternity and shared parental leave
, 109–110

part-time employees
, 108–109

qualifying for statutory maternity, adoption and paternity pay
, 114–115

questions and answers
, 148–149

statutory adoption leave
, 114

statutory maternity leave
, 113–114

statutory paternity leave
, 114

types
, 108

Female labour participation
, 108

Finance
, 39, 54, 57

Financial accounting
, 131–132

Financial advice
, 82

Financial Conduct Authority (FCA)
, 43, 144

Financial crisis
, 41

Financial ethics
, 39–41

questions and answers
, 143–145

regulations in financial sector
, 43–48

relevance for HRMs
, 48–49

relevance of ethics in finance
, 41

theories of
, 41–43

Financial implications of family-friendly policies
, 111

types of cost
, 111–113

Financial Policy Committee (FPC)
, 43, 144

Financial regulations in UK
, 43

Financial regulators in United Kingdom
, 44–48

Financial Services and Markets Act (FSMA)
, 44

Financial statements
, 23

capital structure
, 31–33

consolidation in
, 20

efficiency ratios
, 29–31

investor ratios
, 33

limitations
, 20–21

liquidity ratios
, 33–34

mini reflective case
, 137–143

profitability and control of costs
, 24–29

questions and answers
, 134–137

quick ratio or acid test
, 34

ratio analysis
, 23–24

ratios of particular interest to HR professionals
, 34–37

Financial worry
, 82

Firms
, 102

Fixed assets
, 16

Fixed cost
, 14

Fixed pay
, 122

Flexi-time work
, 109

Flexibility in workplace
, 107, 109

Function, cost classification by
, 14–15

Funds
, 54–55

Gearing ratio
, 31–32

General and administrative expenses
, 13

General logic for income statement
, 13

‘Globalisation’
, 97, 102

Grievance (see also Disciplinary)
, 86

avoiding employment tribunal
, 92

compensation at tribunal
, 91–92

cost associated with employment tribunal
, 91

defending claim at employment tribunal
, 91

employment tribunal
, 90–91

law governing disciplinary and grievance
, 90

procedure for
, 90

questions and answers
, 148

settlement agreements
, 92

Gross margin (see Gross profit percentage)

Gross profit percentage
, 24–26

Gross profit/loss
, 13

Hedonism
, 143

(Higher) Degree Apprenticeships
, 69

Human resource (HR)
, 11, 39, 53–54, 97

academic research
, 36

accounting functions
, 54–57

average profit before tax generated per FTE employee
, 34–35

decisions and accounting function
, 57–60

function relates to accounting function
, 146

identifying and describing main function of accounting and finance
, 54

management
, 143

managers and future of relocation cost
, 102–104

measurement problems typical of HR decisions,. 60–61

organisational structure
, 54–57

professionals
, 34

profit from operations/total staff costs
, 35–36

ratios of particular interest to
, 34

Human resource managers (HRMs)
, 13, 39

cost related to HRMs’ role
, 13–14

relevance of financial ethics for
, 48–49

Implementation costs
, 112

Improved performance
, 111

Income statement
, 11–14

classification of cost
, 14–15

components
, 12

questions and answers
, 132–134

Indirect cost
, 14

Information
, 515

Insurance
, 148

Intangible assets
, 16

Integrative social contracts theory (ISCT)
, 42 143–144

Interest
, 13

Interest cover
, 32–33

Internal rate of return (IRR)
, 60

Internal stakeholders
, 11

International Financial Reporting Standard (IFRS)
, 20

International Monetary Fund/World Bank (IMF/WB)
, 43

International relocation
, 98, 100

Investor ratios
, 33

Job loss
, 94

Job share
, 109

Kirkpatrick’s evaluation model
, 63, 71

Knowledge
, 148

Knowledge management (KM)
, 63, 67–68

Knowledge skills and attitudes (KSA)
, 64

Kolb’s learning cycle
, 66

Labour
, 14

Learning and development (L&D)
, 63–64

digital solutions
, 69–70

direct delivery
, 70

educational programmes
, 69

employees knowledge about
, 64–65

evaluating
, 70–73

experiential learning events
, 70

interventions
, 68–70

on-the-job mentoring and coaching
, 68–69

people knowledge about
, 65–66

people learning from experience
, 66–68

questions and answers
, 146–147

training needs analysis
, 63

Learning outcomes (LOs)
, 40

Learning style inventory
, 67

Legal costs
, 91

Liabilities
, 15

Liquidity
, 24

Liquidity ratios
, 33–34

Long-term incentive plans (LTIP)
, 126–127

Lump sum
, 99–100

Managed relocation
, 99

Management accounting function
, 59

Market outlook
, 76

Materials
, 14

Maternity leave
, 109–110

payment calculation
, 113–115

Money
, 54–55

Morality
, 40–41

Net current assets
, 16

Net income/loss
, 13

Net present value (NPV)
, 60

No action
, 88

Non-routine decisions
, 59

On-the-job mentoring and coaching
, 68–69

Operating profit
, 13

Organisation reporting
, 59

Organisational learning
, 67–68

Organisational performance
, 63–64

Organisational structure
, 54–57

Outsourced relocation
, 100

Overhead expenses
, 13

‘Overheads’ (see Indirect cost)

Parental leave
, 109–110

payment calculation
, 113–115

Part-time employees
, 108–109

Part-time work
, 109

Pay ratio
, 128

Pension
, 124

Pensions
, 121

People learning from experience
, 66–68

Performance management system
, 64

Performance-related issues
, 87

Performance-related pay (PRP)
, 122

Phantom stock
, 121

Pre-tax income
, 13

Procedural costs
, 112

Proceed of Crime Act (2002)
, 145

Profit and loss account
, 16–20

Profit from operations as percentage of revenue
, 26–28

Profit from operations/total staff costs
, 35–36

‘Profit’
, 120

Profitability
, 24–29

Prudential Regulation Authority (PRA)
, 43, 144

Prudential Regulation Committee (PRC)
, 44

Public reporting
, 59

Public sector organisations
, 23

Quick ratio
, 34

Ratio analysis
, 23–24

limitations
, 36

RATM Software Solutions case study
, 65, 68, 72–73

Realisable pay (see Earned pay)

Realised pay
, 122–123

Records
, 88

Redundancy
, 75, 76

alternative employment
, 76–77

consulting and informing affected employees
, 78

giving employees option of voluntary redundancy
, 78

management
, 77

planning phases
, 77

possibility of alternative employment opportunity
, 78

questions and answers
, 147–148

selecting employees to make redundant
, 78

supporting employees through redundancy
, 80–82

Tesco’s strategy
, 75–76

Redundancy payment
, 78–80

calculation of redundancy pay
, 81

making
, 78–80

Regulations in financial sector
, 43–48

Reimbursement
, 100

Relocation cost
, 97–98

costing relocation package
, 100–102

HR managers and future of relocation cost
, 102–104

management and disbursement of relocation package
, 99–100

questions and answers
, 148

types and relocation package cover
, 98–99

Relocation of labour
, 97–98

Relocation package
, 98

costing
, 100–102

cover
, 98–99

disbursement of
, 100

management
, 99–100

Restricted shares
, 121

Return on Capital Employed (ROCE)
, 28–29

Return on investment (ROI)
, 63, 71–73

Revenue decisions
, 59–60

Revenue/sales
, 12

Reward
, 148

Routine decisions
, 59

Salary
, 120

Sales expenses
, 13

Senior management
, 59

Settlement agreements
, 92

Severance payments
, 122

Share options
, 126

Shared parental leave
, 109–110

‘Shareholders’ equity
, 28

Simulations
, 69–70

Skills
, 64, 66, 69

Social contract theory
, 42

Social factors
, 41

Society for Human Resource Management (SHRM)
, 102

Staff costs control
, 27–28

Stakeholder theory
, 42

Statement of financial position (SFP)
, 24

Statutory adoption leave
, 114

Statutory maternity leave
, 113–114

Statutory paternity leave
, 114

Stewardship
, 58–59

Stock (see also Cost)

grants
, 121

options
, 120–121

Phantom
, 121

subsidiary
, 20

Stock Appreciation Rights (SARs)
, 121

Subsidiary
, 20–21

Suppliers
, 131

Systems perspective
, 42, 143

Tacit knowledge
, 67

Talent
, 148

Tangible assets
, 16

Tax (see also Income statement)

authorities
, 59

average profit before tax generated per FTE employee
, 34–35

laws
, 57

Tay Bridge disaster (1879)
, 57

Technology
, 148

Teleological theories
, 42

Teleworking
, 111

Tesco’s strategy
, 75–76

The Guardian
, 67

Top management
, 56

Trade Union Congress (TUC)
, 129

Training needs analysis (TNA)
, 63–65

Transparency
, 120

Transparency influence on executive reward
, 127–129

Uncertainties
, 76–77

reducing
, 80–81

Unethical conduct
, 40, 48

Unfair dismissal
, 89–90

United Kingdom

average credit period
, 30

Financial regulators in
, 44–48

Unrestricted shares
, 121

Variable
, 14

Warming
, 88

Work and Families Act (2006)
, 108

Work from home
, 109

‘Working capital’ (see Net current assets)

Workings
, 18

Work–life balance (WLB)
, 107

Workplace conflicts
, 93

Wrongful dismissal
, 89–90