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Human Resources (HR) Budget

The human resources budget refers to the funds that HR can allocate to hiring, salaries, benefits, talent management, training, succession planning, workforce engagement and employee wellness planning. When the HR budget is being composed, it needs to take into account financial information, performance results and budgeting from every department. A combination of historical trends and real-time information, the HR budget encompasses every data source, which can make it an incredibly complex yet important document to determining a company’s future.

The HR budget includes but isn’t limited to:

  • Complex forecasting on number of employees and turnover rates
  • Salary data
  • Recruitment budget
  • New benefits programs
  • Training and development
  • Payroll costs
  • Overtime
  • Incentive compensation
  • Strategic planning (data/consultants)
  • HR databases
  • Intranet design and maintenance

Discover how CCH Tagetik Performance Management Software delivers:

Workforce & HR Planning