Speaking the same language
This standardized document set is used during monthly P&L reviews to ensure all sites/regions discuss the same KPI's and metrics.
What is the Fact Pack
One of the first steps in developing as a Business Partner is learning how HR efforts influence this part of the organization.
What is Business Performance
Taking ownership of these measurable outcomes helps HR move from a support role to a strategic business partner by directly linking people initiatives to company performance
What are Key Performance Indicators - KPI's
This monthly meeting uses the Fact Pack to review financial and operational performance across all sites
What is the P&L review
Before launching any new HR program, it’s important to ask this question to make sure it supports company goals
What is “How does this help the business"
This is the reason all sites use the same structure and definitions in the Fact Pack during reviews.
What is to ensure consistent communication and comparison across locations
Evolving into a Business Partner means strengthening this skill—understanding the numbers that drive your site’s performance.
What is business acumen?
This mindset requires HR professionals to proactively drive results, not just support them, by using data to influence business decisions and improve outcomes
What is adopting a business partner mindset
In a P&L review, HR adds value by connecting workforce trends-like overtime, turnover and absenteeism to these broader outcomes.
To support business goals like reducing turnover or improving performance, HR teams must design and implement these focused actions
What are targeted HR initiatives
Unstructured and inconsistent reporting, siloed discussions and subjective interpretations of data
What is what does the Fact Pack help you move away from
HR professionals working toward a business partner role build credibility by doing this—connecting people initiatives to operational results.
What is demonstrating impact through KPIs
Instead of reporting metrics after the fact, HR Generalists who want to become true business partners must do this with KPI data to drive conversations and influence decisions before problems arise
What is proactively analyze and act on KPI trends
P&L reviews help to identify trends, variances and opportunities by comparing actual results to these two key financial benchmarks
What are budget and forecast
When HR Business Partners identify gaps, set goals, and work with leadership to close them, they are taking this kind of ownership.
What is proactive, solutions-focused ownership