Hi, I’m currenly working on recruitment.I need guidance and your inputs on the following. 1.What is recruitment budget. 2.How do I plan for it. Regards, K.M.Aarthi
From India, Madras
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From India, Madras
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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.
From India, Verna
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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.
From India, Verna
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Dear Aarthi, Pls find the attachement. Hope it will be useful to u. Regards, Gowri
From India, Madras
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7From India, Madras
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Recruitment Cost Analysis.xls
Project cost estimation.doc