Dear Seniors,
I have to create an HR budget for my company. Please let me know urgently how to proceed with it. What all categories should be included in it? If possible, could you provide me with a sample format for reference?
Thank you for your assistance.
Regards,
Hina
From India, Delhi
Acknowledge(0)
Amend(0)
4I have to create an HR budget for my company. Please let me know urgently how to proceed with it. What all categories should be included in it? If possible, could you provide me with a sample format for reference?
Thank you for your assistance.
Regards,
Hina
From India, Delhi
Acknowledge(0)Amend(0)
Hi,
1) Take inputs from your operations team about the manpower projections.
2) Make a tentative plan for hiring and spread it over the calendar.
3) Provide approximate salaries (average salaries in band) for every designation.
4) Consolidate this on a monthly basis.
5) Display the headcount and the cost on a monthly/quarterly basis and annually.
Hope this helps.
Regards,
Sathiya
From India, Madras
Acknowledge(0)Amend(0)
1) Take inputs from your operations team about the manpower projections.
2) Make a tentative plan for hiring and spread it over the calendar.
3) Provide approximate salaries (average salaries in band) for every designation.
4) Consolidate this on a monthly basis.
5) Display the headcount and the cost on a monthly/quarterly basis and annually.
Hope this helps.
Regards,
Sathiya
From India, Madras
Acknowledge(0)Amend(0)
Regarding the heads, add a separate column for Bonus and calculate an approximate percentage based on your previous years' bonus percentage to provide it as a projection. Thus, the different heads will be compensation & bonus. The remaining expenditures like office expenses, etc., can be added to the admin/finance budgets.
Regards,
Sathiya
From India, Madras
Acknowledge(0)Amend(0)
Regards,
Sathiya
From India, Madras
Acknowledge(0)Amend(0)
Hi, I am adding a few more tips on the same.
1. Wage - Monthly, quarterly, yearly (including new hiring as per monthly plan).
2. Salary - Monthly, quarterly, yearly (including new hiring as per monthly plan).
3. Bonus projection in the month of disbursement.
4. Overtime, if any.
5. Uniform/Welfare fund, if any.
6. Hiring cost, if any.
7. Stationery cost.
8. Communication cost, if any.
9. Convenience cost, if any.
10. Training cost, if any.
11. Increment effect as per company norms.
12. Books & periodicals.
13. Subscriptions, if any.
14. Fees & other expenses, if any.
15. License renewal or other expenditure if it comes under HR.
16. Security and other expenses.
Hope this will help you to make a budget as per your company norms. Separate the expenditure on a monthly, quarterly, and yearly basis for better transparency.
Regards,
Arun
From India, Delhi
Acknowledge(0)Amend(0)
1. Wage - Monthly, quarterly, yearly (including new hiring as per monthly plan).
2. Salary - Monthly, quarterly, yearly (including new hiring as per monthly plan).
3. Bonus projection in the month of disbursement.
4. Overtime, if any.
5. Uniform/Welfare fund, if any.
6. Hiring cost, if any.
7. Stationery cost.
8. Communication cost, if any.
9. Convenience cost, if any.
10. Training cost, if any.
11. Increment effect as per company norms.
12. Books & periodicals.
13. Subscriptions, if any.
14. Fees & other expenses, if any.
15. License renewal or other expenditure if it comes under HR.
16. Security and other expenses.
Hope this will help you to make a budget as per your company norms. Separate the expenditure on a monthly, quarterly, and yearly basis for better transparency.
Regards,
Arun
From India, Delhi
Acknowledge(0)Amend(0)Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.
HR BUDGET.zip
HR Planning Tools.doc
HR Planning.ppt