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An HR budget plan
Human Resources » HR Metrics & Measurement


Chrm Message From: velocityviper Total Posts: 2 Join Date: 25/09/2010
Rank: Beginner Post Date: 25/09/2010 06:22:23 Points: 10 Location: United Arab Emirates

Hi,

I am not sure if this topic belongs in this section, but here goes anyway:

I need some information on how to make a budgeting plan. I dont have specifics, I just need to know what components are involved in planning a budget for the year ahead.

Thanks!

Chrm Message From: AMITAPRUTHI Total Posts: 3 Join Date: 25/09/2010  
Rank: Beginner Post Date: 28/09/2010 04:28:35 Points: 15 Location: United Arab Emirates
Nice area. For details can go to book called"HRAudit"
Chrm Message From: savi989 Total Posts: 70 Join Date: 25/09/2010  
Rank: Manager Post Date: 08/10/2010 04:27:53 Points: 350 Location: United Arab Emirates

Hi,

following areas are covered in HR budget:

1. HR Recruitment: Interview Traveling cost, Antecedent verification cost, Pre joining Medical Check-up Cost, Interview venue charges[if not conducted in office premises], Induction cost,  & consultant charges

2. Training: In-bound & Out-bound training cost, Training Manual cost, Trainer's charges, Prop/material charges

3. Engagement Charges: Festival, Birthday, Event celebration cost

4. Administrative Charges: ID card, Visiting card, Access card, parking allotment, IT equipments

IT & Administrative charges could be aloocated in respective dept cost & in HR budget in the absence of such dept

Regrads,Savita

Chrm Message From: VVNAGESWAR Total Posts: 1 Join Date: 25/09/2010  
Rank: Beginner Post Date: 09/04/2011 09:26:18 Points: 5 Location: United Arab Emirates
i agree with savita, i feel we need to include the salary or CTC.
Chrm Message From: prerna Total Posts: 3 Join Date: 25/09/2010  
Rank: Beginner Post Date: 10/04/2011 03:35:36 Points: 15 Location: United Arab Emirates
A proper HR Budget Plan Can be prepare by following way: First Identify the major areas which should be there in your yearly or half yearly budget and then sub categorize it. For example for my HR Budget Plan i have identified following areas: Recruitment,Training and Development,Employee Engagement,O.D initiative etc. then i subcategorize each area as per my organization requirement A) Recruitment: 1.Manpower planning This in includes manpower planning budget; CTC of new joinees,current employees etc. 2.Source of recruitment: Advertisment,Campus interview,Portal cost,Video Conferencing etc. 3.Stationary Cost:Various Forms,Identity Cards, Visitor Cards etc. 4.Induction:Induction of new joinees etc. In this way u can also make HR budget Plan by identifying the major areas and by sub categorizing it as per ur organization need. Thanks Prerna

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