Finance know-how vital to HR success

Solid understanding of finance, accounting cruicial for HR pros to move up the ladder
By Duff McCutcheon
|Canadian HR Reporter|Last Updated: 04/07/2014

For too many HR professionals, the prospect of looking over a financial statement leaves them in a cold sweat. Traditionally, numbers have not been HR’s forte. But if they want to move up the ladder into a senior management role, an understanding of finance and accounting is essential.

“All business professionals need to understand how their business generates revenue and the anatomy behind it all — and HR is no different,” says Norm Sabapathy, executive vice-president of people at Cadillac Fairview in Toronto.

“A good HR professional’s job is to maximize the effectiveness of people to deliver results and to do that you need to be fully integrated with the business you support — and that requires finance acumen.”