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    HR Budget Elements

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    Oniket Xenofer
    The document provides guidelines for budget items in an HR department budget. It lists major items such as overhead costs including salary, bonuses, recruitment costs, training costs, and welfare costs for employees like transportation, medical benefits, and allowances. The budget is based on the company's overall objectives and targets for the coming year and can be estimated as a 20-30% increase from the current year's budget. However, other costs like administration and workplace safety may also be included depending on the company's HR functions.

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    HR Budget Elements

    Uploaded by

    Oniket Xenofer
    876 views2 pages
    The document provides guidelines for budget items in an HR department budget. It lists major items such as overhead costs including salary, bonuses, recruitment costs, training costs, and welfare costs for employees like transportation, medical benefits, and allowances. The budget is based on the company's overall objectives and targets for the coming year and can be estimated as a 20-30% increase from the current year's budget. However, other costs like administration and workplace safety may also be included depending on the company's HR functions.

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    Hr Budget Elements

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    The document provides guidelines for budget items in an HR department budget. It lists major items such as overhead costs including salary, bonuses, recruitment costs, training costs, and welfare costs for employees like transportation, medical benefits, and allowances. The budget is based on the company's overall objectives and targets for the coming year and can be estimated as a 20-30% increase from the current year's budget. However, other costs like administration and workplace safety may also be included depending on the company's HR functions.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    876 views2 pages

    HR Budget Elements

    Uploaded by

    Oniket Xenofer
    The document provides guidelines for budget items in an HR department budget. It lists major items such as overhead costs including salary, bonuses, recruitment costs, training costs, and welfare costs for employees like transportation, medical benefits, and allowances. The budget is based on the company's overall objectives and targets for the coming year and can be estimated as a 20-30% increase from the current year's budget. However, other costs like administration and workplace safety may also be included depending on the company's HR functions.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 2

    The elements in HR department budget would vary with

    -company policy
    -budget process
    -company accounting system
    -nature of the business operation
    etc

    HERE is a broad set of guidelines.

    -recruitment/ selection [ internal/ outsourcing ]


    -contractors [external ]
    -salary/ wages
    -training/ development [ includes induction/ orientation]
    -staff benefits
    -staff amenities
    -workplace facilities
    -workplace safety [ OHS]
    -salary contingency
    -workers compensation
    -staff communication [ includes newsletter/ intranet ]
    -labor relations [ legal/ investigations]
    -HR administration
    -HR travels
    etc etc.

    One-Stop HR Information Centre


    October 7, 2007
    HR Budget: What to Budget?

    Filed under: Human Resource Management (1-10)

    Generally, HR Budget includes the following major items:

    1. Overhead Cost
    o Payroll, including
    o Salary
    o Overtime
    o Allowances - Attendance, Meal or Others
    o EPF, SOCSO
    o HRDF
    o Bonus
    o Increment
    o Recruitment Cost
    2. Traning Cost
    3. Welfare Cost, including
    o Transporation
    o Hostel
    o Uniform
    o Medical
    o Group Insurance
    o Allowances - Car, Petrol, etc  
    o Family Day / Annual Dinner
    o Sport Club

    The budget will be based on the overall objective and business target of the organisation for the
    coming year. If there is no such specific objective or target, the budget could be based on
    the current year one, with 20-30% increase.

    However, depending on the HR functions of different comapnies, HR Budget could include other
    items as well, for example, Administration cost, OSHA cost, etc.  

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