Shilpa Bhakar, Smitha Shine, Nittan Arora, Manoj P. K, Indrajit Dutta, Venu Gopala Rao Chowdary, Satish Chander Sharma
ABSTRACT
The study explored the strategic integration of Human Resource Management (HRM) practices with financial planning to advance organizational effectiveness and workforce sustainability. Utilizing a qualitative, exploratory design, data were collected through a comprehensive literature review and in-depth semi-structured interviews with 12 experienced HR and finance professionals. Thematic analysis revealed five core themes: strategic alignment, collaborative workforce budgeting, financial accountability in HR, use of people analytics, and barriers to integration. Among integration strategies, talent-linked budgeting and joint HR-finance planning sessions were perceived as most effective. Challenges such as siloed decision-making, limited executive support, and insufficient financial literacy within HR functions hindered implementation. The findings underscore the necessity for cross-functional training, executive buy-in, and the adoption of integrated digital tools. Strategically, the study emphasizes that effective HR-finance collaboration is critical to driving data-informed decision-making and ensuring long-term organizational resilience.
