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21 - HRC - Human Resources


HRC 136 - Human Resources Budgeting & Budget Control

Code Start Date Duration Venue
HRC 136 24 October 2022 5 Days Istanbul Registration Form Link
HRC 136 19 December 2022 5 Days Istanbul Registration Form Link
HRC 136 02 January 2023 5 Days Istanbul Registration Form Link
HRC 136 27 February 2023 5 Days Istanbul Registration Form Link
HRC 136 24 April 2023 5 Days Istanbul Registration Form Link
HRC 136 19 June 2023 5 Days Istanbul Registration Form Link
HRC 136 14 August 2023 5 Days Istanbul Registration Form Link
HRC 136 09 October 2023 5 Days Istanbul Registration Form Link
HRC 136 04 December 2023 5 Days Istanbul Registration Form Link
Please contact us for fees

 

Course Description

One of the recurrent and inevitable tasks of HR directors is completing the annual budget process. HR budget is a great opportunity to reposition and reinforce the HR function as a strategic partner. Further, HR budgeting is subject to many factors including corporate policies. In this course, HR professionals will learn the skills they need to perform this task effectively and efficiently. 

Course Objectives

  • Understanding organization goals and overall corporate plan
  • Creating the department budget
  • Learning methods for HR budgeting
  • Identifying the areas of flexibility 
  • Monitoring budget regularly

Who Should Attend?

  • Supervisors
  • HR Managers
  • Executives
  • Anyone involved in HR planning
  • Anyone who is or will be responsible for human resources management

Course Details/Schedule

Day 1

  • Overview of Budgets
  • What is a budget?
  • The purpose of budgets
  • Alignment with organizational strategic goals and functions 
  • Factors to consider while budgeting 
  • Methods for HR budgeting
  • Incremental budgeting 
  • Zero-based budgeting
  • Steps to creating an HR budget 
  • Collection of data
  • Budget metrics for HR
  • Budgets and return on investment (ROI)
  • Budgets and internal rate of return (IRR)

Day 2

  • Expense Budgets
  • Forecasting on number of employees and turnover rates
  • Strategic planning (data/consultants)
  • HR databases
  • Developing personnel
  • Analyzing jobs
  • Preparing a short and long-term plan

Day 3

  • Direct Benefits
  • Salary data
  • Compensation philosophy and strategy
  • Developing competitive salary structure
  • Pay practices
  • Pay structure
  • Incentive compensation system
  • Merit pay
  • Bonuses
  • Commissions
  • Employee and labor relations
  • Salary cost increases or projections.
  • Changes in policy, business strategy, law or regulation that may impact costs.

Day 4

  • Direct vs. indirect benefits
  • Health & Insurance 
  • Recruitment budget
  • New benefits programs
  • Training and development
  • Overtime
  • Incentive compensation
  • Intranet design and maintenance
  • Pension Plans
  • Employee safety and well-being
  • HR technology

Day 5

  • Efficiency Indicators
  • Human Resources Key Performance Indicators
  • Measuring financial performance
  • Labor costs
  • Decreasing of turnover rate
  • Effective using of training budget
  • Monitoring budget performance
  • Variance analysis
  • HR cash flow analysis