Workshop 14 (half day)
Understanding the Financial Context of Organizations: What I-O Psychologists Should Know
Presenters: Mark Young, Personnel Decisions International (PDI)
Peter Ramstad, Personnel Decisions International (PDI)
Coordinator: Debra Drenth, Franklin Templeton
This workshop will provide an overview of the core financial and management accounting concepts and how such a perspective can be used to better understand the organizational context for I-O interventions. This workshop will provide a quick overview of several basic financial concepts. It will also extend that information into understanding the implications for the organization. By focusing on the analysis of the internal financial systems, the concepts covered can be applied to tasks such as job analysis, designing performance management and staffing systems, and a variety of other I-O interventions. This workshop will focus on how to analyze the existing financial management systems within organizations to obtain valuable design information, and determine the most potentially powerful criterion data. This workshop will not focus on statistical or quantitative techniques.
This workshop is designed to help participants:
- Summarize basic financial concepts and implications for the organization
- Analyze financial management systems in organizations
- Explain how finance and managerial accounting relate to I-O interventions
- Effectively discuss I-O psychology concepts and practices in financial terms
Mark Young is vice-president, chief financial officer, and senior counsel at Personnel Decisions International (PDI). As PDIs CFO, Mark leads the financial, legal, and administrative functions at PDI. Mark has directed and managed the acquisitions, mergers, and alliances of PDI, and works with many partners in the integration and distribution of PDIs products and services. Mark is also in charge of the external financing activities of PDI. Mark serves on the board of directors for ePredix, Inc. and is secretary of PDI. Over the last 6 years, Mark has held various leadership positions within PDI. Beginning as tax manager, he moved into the role of director of corporate development and corporate counsel. He is a member of the American Bar Association, American Corporate Counsel Associations, Minnesota State Bar Association, and Hennepin County Bar Association. Mark is a licensed attorney and received his JD from William Mitchell College of Law. Mark has an undergraduate degree in accounting with minors in business and spanish, and significant graduate studies in management.
Peter M. Ramstad is executive vice-president for Strategy and Finance at Personnel Decisions International (PDI). Pete is unique in that the basis of many of his insights into HR and talent management are from his foundation in economics and strategy. In addition to his leadership role at PDI, Pete has done extensive research in HR strategy and measurement. Prior to joining PDI, Pete was a partner with a major public accounting firm focusing on financial, operational, and systems consulting in high tech and service environments. He is a frequent faculty member for executive education events and speaker at professional conferences, including the Minnesota Executive Program. He has partnered with Professor
John Boudreau (USC) on several large-scale projects that have been implemented in leading organizations worldwide. Pete has undergraduate degrees in Math and Accounting with minors in Economics and Computer Science, and significant graduate studies in Economics, Mathematics, and Accounting. He is a Certified Public Accountant, Certified Management Accountant, and a member of the AICPA.
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