Workforce Planning and Budgeting for HR
- 0 (Registered)
Workforce Planning and Budgeting for HR course will provide delegates with the skills needed to fully understand the costs involved with HR that allow them to present a realistic case to management.
It will feature case studies, business simulation and practical group exercises to show delegates how to prepare, monitor and control the HR budget and, most importantly, understand the link between organizational ﬁnance and HR budgets.
The human resources budget refers to the funds that HR allocates to all HR processes enterprise-wide. The HR budget will include funds allocated to hiring, salaries, benefits, talent management, training, succession planning, workforce engagement, and employee wellness planning.
HR budgets use financial information, performance results and historical data from every department.
Since the HR budget considers HR activities company-wide, it is an incredibly complex yet essential document in determining a company’s future HR activities.
Workforce planning is one of the most critical HR processes and linked to every other function in HR management. In spite of its importance, it is often implemented haphazardly due to organizational and market complexities.
Workforce Planning and Budgeting for HR serve as the foundation for managing an organization’s Human Resources. It enables organizations to plan strategically to meet current, and future workforce needs and prevents unnecessary surprises in maintaining steady-state human resources.
The right employees fill workforce planning further assists organizations by ensuring positions with the needed competencies, and appropriate planning is conducted to align the human resources to meet future organizational goals.
The more active the development and execution of the workforce plan, the more the organization can leverage its Human Resources for the accomplishment of its strategic goals.
The course uses a mix of interactive techniques such as lecturettes, group activities, case studies, scenario analysis, and team presentations.
You might be interested in other HR Programs as a next step.
We have gathered a team of professionals who are committed to helping you excel professionally. With our in-depth expertise and exposure in different sectors, the professionals at Strategic Axis have skills that are second-to-none.