Effective Strategies for Recruitment Budgeting and Planning - Expert Insights

Hi,

I'm currently working on recruitment. I need guidance and your input on the following:

1. What is a recruitment budget?
2. How do I plan for it?

Regards,
K.M. Aarthi

Hello,

First, you will need to talk to your Business Heads/HOD's regarding the Sales/Productivity plan and ask them to project their Manpower requirements (make them specify the grade, projected CTC, etc.) for the next year. Also, expenses for the current year or the past year toward recruitment will help. The average of the previous years can be used to estimate the cost per position for each of the following heads:

- Recruitment Agency cost (generally the cost varies between 8.33% to 12% of CTC).
- Cost towards print Advertising.
- Cost towards Internet Portal subscription.
- Relocation cost.
- Pre-employment medical checkup.
- Candidate Interview travel, hotel, etc., reimbursement cost.

I think this should give you a good estimate of your next year's recruitment budget.

Dear Aarthi,

Please find the attachment. I hope it will be useful to you.

Regards,
Gowri

Hello seniors,

Though I am not able to fully understand how we plan the budget for recruitment, it was still helpful. If possible, could someone please shed more light on the "planning of budget"?

Thanks