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Hsm 260 Week 9 Short Answer

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Week 9: Short Answer Question
HSM/260

Why is it important for a human service professional to be familiar with financial management? Provide at least two examples that illustrate your point.
A human service professional will deal with several aspects of the human service industry including the financial area. It is very important for a human service professional to have knowledge of financial management even if it is not his/her job role, title or responsibility. Having knowledge of the financial management allows a human service professional to make decisions or judgments which is in the best interest for the human service agency financially.
It is vital for all staff to become familiar with the agency’s financial goals; therefore the service provided by the agency’s staff can be performed with everyone on the same accord financially. Everyone can understand the need for adjustments in areas of weakness; including layoffs, salary decrease and or any cost-cutting measures that is needed in order for the organization/agency to meet its financial obligations.
It takes knowledge to understand how vital the financial aspect is to the organization and ensuring all staff has the knowledge of financial management and goals is very essential. Each individual at one point may need to step up and fill a position or make an executive decision; therefore if someone is terminated, becomes ill, or sudden death the agency can continue to run smoothly without taking any losses and the clients/participants are not affected if such an event should occur.
With each staff member having first-hand knowledge and understanding of the financial management it can eliminate speculation of mismanaging funds and to ensure funds are being allocated appropriately. Teamwork is what will help any agency/organization be successful; therefore it is very important that each professional is

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