New to HR Budgeting: How Do I Tackle Training and Recruitment Costs?

Hi everybody,
 
First of all....would like to wish all here a very bright, successful and happy new year.
 
To get myself introduced...I'm Leena and I'm new to this forum...and am working with a PSB in the HRD.
 
I have been assigned with the task of preparing the HR Budget....and this is something I haven't done before....so would like someone to please come forth and help me in the matter....especially with the Training and Recruitment parts....is the Training budget supposed to be a certain percentage of the total staff cost....or could I just identify an approximate amount per employee and multiply it by the total staff strength?
 
Would really appreciate help.
 
Regards,
 
Leena.

Thank you, Jayas. That was helpful.

I would also like to know how I should go about making the budget besides just knowing the components, especially the training and recruitment parts as I mentioned in my previous post. If someone could shed some light on this, I would appreciate it.

Leena.

Hi Leena,

Wishing you a very happy and prosperous new year.

This is Madhuri. I work for a System Integration firm where I have coordinated a couple of training programs. Before finalizing the training budget, it is essential to analyze the total cost that will be incurred during the training. This analysis should include the trainer fees, venue charges, and other expenses such as food and accommodation if you provide them. If it is an Outdoor Bound Training (OBT), the budget should reflect that based on the training program requirements. The total amount needs to be clearly stated in the training budget, detailing the cost per employee and providing a grand total.

Regards,
Madhuri Mattam