What are the components that go into HR Budgeting? How often it has to be reviewed? - CiteHR
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Dear All, What are the components that go into HR Budgeting? How often it has to be reviewed & To what extent does it have an impact on the company?
The elements in HR department budget would vary with
-company policy
-budget process
-company accounting system
-nature of the business operation
HERE is a broad set of guidelines.
-recruitment/ selection [ internal/ outsourcing ]
-contractors [external ]
-salary/ wages
-training/ development [ includes induction/ orientation]
-staff benefits
-staff amenities
-workplace facilities
-workplace safety [ OHS]
-salary contingency
-workers compensation
-staff communication [ includes newsletter/ intranet ]
-labor relations [ legal/ investigations]
-HR administration
-HR travels
etc etc.
ONCE again the reviews vary with organizations.
Majority review the HR component every six months,
and in others it is reviewed quarterly.
The more the labor intensive the industry is the more
frequency it is.
In service sector, like
-business services
-hotel industry
it is done very frquently [ at least quarterly ]
The more the labor intensive, the greater
the impact.
hope this is useful to you

hello mr.leo,
as soon as i see your name in the last post by------
it takes no time me to open the post and think here comes the perfect answer..
thanks for your ans.
I was searching for it...

does these elements include only HR Department, or all Company's other department ? and how do you approve your budget ? is it based on your previous one ? and on the company strategy ?
thank you

Hi Leo,
It's good information.Why don't you make it little bit clear like posting it's entire process from start to end. It would be helpful us.
I need some more information. So please needful.

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Thanks for the complete break down. Would like to know - Companies do this activity of complete budgeting on a yearly basis, bi-yearly basis, or quarterly basis?
Very good format, Please share, monthly to annual budget format. Anil
Thanks ...It seems to be valuable
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