HR Budgeting is a powerful financial tool that can estimate the expenditures made by the HR vertical . This strengthens and allows the HR to control the cost rather than letting it control the HR initiative. The budget is drawn parallel to the goals of the organization. If the organization expands and requires to register a double digit growth in terms of its strength, it percolate to apportion funds in different areas including recruitment , retention, up-skilling, global mobility management and etc. The allocation of funds would be governed by the HR Strategies. The decision makers in an organization remain the main players to approve the budget. The recommendations and inputs are taken from different sources including operation, marketing, logistics and every other vertical within the organization. Macro areas including employee retention, recruitment and training and micro areas including programs designed for incremental benefits are all mapped into one complete budgeting program. It can be zero-based budget with no reference to last year’s expense.
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