An HR budget plan

Human Resources » HR Metrics & Measurement

	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!

	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"

	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

	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.

	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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