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What are the steps in drawing up a HR budget for an organisation? Will also appreciate a samplet New Member Alfred
From United States, Denver

Here's few suggestion to get started:
  1. Please form the HR interface to the organization goal, for the next annual year. For e.g.: if 300 hires to be closed next year. It means allocating budget to scale up recruitment, training and new hire orientation becomes a priority.
  2. Next, look at the strategic alignment for the next year. Is it skewed towards saving cost or increase efficiency? You need to plan the buffer accordingly.
  3. Finally, the industry you belong to, will have its leading and lagging factors. Hence, you need to benchmark the standards to be achieved. It would reflect in the bonus you agree to distribute, or the training program investment that you assign.
This study for you needs to go far ahead than these three starting points. Please look into the article attached and the set of documents used by different companies. These documents are for you reference, which will help you to build the budget for your company.

If you wish to discuss this further with us, please do share more on what you are looking for. Wish you all the best!
(Cite Contribution)

From India, Mumbai
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