Importance of Financial Management in Human Services Organizations

Capstone 9 Usha Dillard April 17, 2013 HSM/260 Wanda Rainey-Reed I think it is very important especially if you want to improve the services that are being provided to the clients, no organization wants to have a loss, and every organization wants to have growth, especially when it deals with health sector. So having a proper financial management for the human service organization would give it an edge over other organization in Quality of Service and Net growth per year.

Which I think that many HR people are not financially aware and this impacts their decisions, but by then having this knowledge it will give them a competitive advantage. Also as well rounded look at the finance’s which effect developing their personal awareness to operational issues and marketing issues. The knowledge of financial management is essential as the human service professional strives to create a tenable and largely acceptable model that serves the collective benefits of a group or a community that they are trying to reach.

Each professional in the organization should have a grasp on budgetary allocations of different facets of societal work like social welfare policy analysis, human services management, community organization, health services etc. The human service professional must know if the funds allocated are judiciously spent on all the wings of the welfare activity. For this the human service professional should work in tandem with the policy makers to see the program is adequately funded and help them devise the plans and explain them the situation at grass root levels.

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The professional should also ensure that cost-cutting measures are implemented wherever applicable and identify areas that are either surplus/scarcely funded areas and intimate the same to program’s The human service professional decent knowledge in financial management helps them to be a better team player and helps chalk out a chart for better promotion of social welfare activities in their communities.

Example’s why needed: 1. The complexity of client problems appears to be growing, as are expectations that agencies will be accessible, accountable, and better able to document outcomes. 2. Funding limits constrain agency efforts to offer competitive salaries and to fully fund training programs for all staff and board members.

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