2 answers
Jocelynn
Student
Watertown, New York
1
Question
Updated
288 views
What are some advice I should consider for Human Resources?
First, how much are finances and accounting part of human resources? Then, what are the most important things to know before going into this career field? Finally, what advice should I keep in mind? Also, what are some reliable scholarships that I could sign up for?
Login to comment
2 answers
Marqueshia Henry, SHRM-CP
Human Resources Manager
3
Answers
Savannah, Georgia
Updated
Marqueshia’s Answer
Hello Jocelynn,
That’s a great question. Finance and accounting are not the main focus of Human Resources, but they are closely connected, especially in areas like payroll, budgeting, and workforce planning. Understanding basic financial concepts helps HR professionals see how hiring, turnover, compensation, and benefits impact the company’s overall performance.
Before entering the HR field, it’s important to develop strong communication skills, understand employment laws, and be prepared to balance employee needs with business goals. My biggest piece of advice is to take time to learn the business you support, seek mentorship, and continuously invest in your professional development. There are also many reliable HR scholarships available through organizations like SHRM and local HR associations that can help support your education and career growth.
That’s a great question. Finance and accounting are not the main focus of Human Resources, but they are closely connected, especially in areas like payroll, budgeting, and workforce planning. Understanding basic financial concepts helps HR professionals see how hiring, turnover, compensation, and benefits impact the company’s overall performance.
Before entering the HR field, it’s important to develop strong communication skills, understand employment laws, and be prepared to balance employee needs with business goals. My biggest piece of advice is to take time to learn the business you support, seek mentorship, and continuously invest in your professional development. There are also many reliable HR scholarships available through organizations like SHRM and local HR associations that can help support your education and career growth.
Stephanie Urroz Hernandez
University Recruiter and HR Systems Champion
3
Answers
Guadalajara
Updated
Stephanie’s Answer
Finances are part of an HR role in terms of managing budget. For example, in University Recruiting teams they have a budget allocated for the Intern and Graduate programs. The budget is used to be able to buy catering, coffee breaks, decoration, t-shirts, any material in general or swag for the events. You have to request quotes to approved vendors and request/generate a PO (Purchase Order) to acquire the service or products in order to get an invoice. You have to stick to the budget allocated, so making the right choices is essential. This process is similar for all Recruiting Events that the team is attending to, usually they attend target school job fairs on Campus or info sessions or coffee sessions. There is an allocated budget to cover school event fees, job fair fees, plus all the materials like banners and company branded giveaways that will be distributed to participants.
In regard to Accounting, you need to be mindful of the Quarter you are making all these purchases and when you are getting these invoices from Vendors. Upload all the expenses in the Expense tracker so that the Recruiting Budget person tracks everything in a timely manner for the End of Month Close. This way the Financial Analyst supporting the Recruiting org will ensure accurate financial reporting and compliance, making sure they do proper accruals of all expenses.
Finally, if you are an HR People Manager you need to handle the budget allocated for your headcount (direct employees). People managers need to consider the management levels of their employees and distribute the budget to provide end of year performance bonus, pay raises and total rewards in general.
The most important things to know are that you are working with people at all times that have needs and have their own personal life history, so you need to treat them all with respect and empathy. My advice in an HR role is to treat all people you support as your client. Give an exceptional service by being empathetic, reliable, effective with a sense of urgency. Candidates are your external client and hiring managers or people managers, employees, and any other stakeholders are your internal clients. So you do need to be customer oriented and also having attention to detail is important and very helpful.
I'm not sure about scholarships in the US I owe you that!
In regard to Accounting, you need to be mindful of the Quarter you are making all these purchases and when you are getting these invoices from Vendors. Upload all the expenses in the Expense tracker so that the Recruiting Budget person tracks everything in a timely manner for the End of Month Close. This way the Financial Analyst supporting the Recruiting org will ensure accurate financial reporting and compliance, making sure they do proper accruals of all expenses.
Finally, if you are an HR People Manager you need to handle the budget allocated for your headcount (direct employees). People managers need to consider the management levels of their employees and distribute the budget to provide end of year performance bonus, pay raises and total rewards in general.
The most important things to know are that you are working with people at all times that have needs and have their own personal life history, so you need to treat them all with respect and empathy. My advice in an HR role is to treat all people you support as your client. Give an exceptional service by being empathetic, reliable, effective with a sense of urgency. Candidates are your external client and hiring managers or people managers, employees, and any other stakeholders are your internal clients. So you do need to be customer oriented and also having attention to detail is important and very helpful.
I'm not sure about scholarships in the US I owe you that!