Reference no: EM133196809

Prepare HR Budget:

A well-planned and best practice budget ensures that human resources receive the necessary funding to support employee programs and initiatives critical to attracting and retaining a skilled workforce.

Prepare budget for human resource (department/management) using items which were discussed in the class. Also, while there are many items that may or may not be included in human resources budgeting, below is a list of some of the most common ones to consider:

Recruitment and Selection 

• Recruitment advertising
• Agency fees
• Temporary employees
• Employee referral program
• Skills testing
• Drug testing
• Background checks
• Recruitment-related travel
• Branded giveaways
• Printing costs-applications, recruiting brochures
• Web development/maintenance
• Applicant tracking system costs

Equipment

• Vehicles or travel costs
• Plant and equipment
• Office space and fit out
• Systems Licences

Training and Development

• External programs
• Tailored programs
• Registration fees
• Travel expenses
• Certification exam costs
• Internal programs
• Consulting fees/trainers' salary
• Program materials
• Food and beverages
• Supplies for attendees
• Audio-visual rentals

Compensation and Benefits

• Employee salaries
• Payroll costs
• Overtime
• Incentive and bonus schemes
• Medical and life insurance
• Short- and long-term disability insurance
• Profit sharing
• Commuting or Telecommuting expenses

Employee Management and Engagement

• Recognition and awards programs
• Employee engagement survey administration
• Performance appraisal software
• Employment attorney fees
• Outplacement expenses
• Lawyers fees
• Diversity management program administration
• Communications

Health, Safety and Security

• Employee assistance program
• Fitness facilities
• Safety training/promotion
• Workplace violence prevention/training
• Health and wellbeing initiatives

Other

• Consultants (or other subject matter experts)
• Charitable donations
• HRIS administration
• HR databases/subscriptions/memberships/books
• Intranet design and maintenance
• Team events and planning days