HR Budget Formate

Dear Seniors
I need to make the HR budget for my Department ie. HR & Administartion including Salary .. For calender Year 2009
In fact in this fluctuating market I m really confused about formulating the Budget .
I m also the incharge of my New Plant Comming up which will have 127 Mnagers & Staff on roll to be recruited in 2009 ..how should I formulate Their salary and related Admin Cost
Plz advice and guide
Regards
Anju Prince

Dear Anju,

Budget is simply forecasting of earning and expenses details for next financial year. For your HR budgeting you have to check your previous details. In brief follow the followings-

For Wage and salary - Consider your present as well as future increased salary based on manpower planning, Attrition rate and average increment etc.

Training Cost - Based on your planed training hours, Faculty and other expenses in this heads

Welfare Expenses - As per your company policies, which can cover canteen, pantry, transportation, award and Incentives, uniforms, get-together etc.

Apart from above you have to consider every expense related to HR and administration considering the inflation rate average 10 to 8 %.

Thanks

Arun Gupta
9312010127