What is Human Resource Budgeting Training?
The Human Resource Budgeting Training course is designed to equip professionals with the essential skills to manage HR budgets effectively, ensuring that HR activities align with organisational financial goals. This course focuses on the practical aspects of budgeting, including cost planning, forecasting, and resource allocation, allowing learners to develop and manage budgets that drive HR and business success.
In today’s data-driven environment, understanding how to create and manage HR budgets is crucial for HR professionals and managers who are responsible for aligning HR initiatives with broader financial goals. Learners will gain the expertise to plan and control HR-related costs, ensuring that resources are allocated efficiently and within budgetary constraints.
This intensive 1-day course combines theoretical knowledge with practical exercises and case studies to ensure that learners can apply budgeting concepts in real-world scenarios. Participants will also gain insights into financial reporting, cost control strategies, and the role of HR budgeting in business strategy.
Course Objectives
To understand the principles of HR budgeting and cost management
To develop skills in creating and managing HR budgets
To align HR strategies with financial goals
To learn forecasting and resource allocation techniques
To evaluate the impact of HR costs on organisational performance
Upon completion, learners will be equipped to develop comprehensive HR budgets that support business objectives and optimise financial resources in HR functions.
Course Outline
Human Resource Budgeting Training
Module 1: Introduction to HR Budget
- Introduction to Budget
- What is HR Budget?
- Importance of HR Budget
- What Does an HR Budget Include?
- Why Do You Need to Plan an HR Budget?
Module 2: Components of HR Budget
- HR Planning
- Recruitment
- Remuneration
- Performance Management
- Administration
Module 3: Employment Law
- Employment Contracts
- Data Protection
- Health and Safety Regulations
- Grievance, Discipline, and Dismissal
- Redundancy
- TUPE
- Transfers Covered by TUPE
- Transfers not Covered by TUPE
- TUPE and the Employee
Module 4: HR Policy
- Devising the HR Agenda and Strategy
- HR Policy Documentation
- Creating an HR Policy Manual
- HR Policy Reviews
- Management of the Development of New HR Policies and Procedures
- Implementation of New HR Policies and Procedures
Module 5: Payroll Functions
- Salary Components
- Designing CTC
- Salary Processing
- Attendance Management System
- Full and Final Settlement
- Professional Tax
- Income Tax
- TDS and LOP
- Overtime (OT) Wages
Module 6: Employee Relations
- Support of Grievance Cases
- Communication with Employees
- Effective Employee Communication
- Conflict Management
- Employee Engagement
Module 7: Role of Manpower Planning within an Effective Organisation
- Introduction to Manpower Planning
- Steps in Manpower Planning
- Importance of Manpower Planning
- Need of Manpower Planning
Included
Included
- No course includes are available.
Offered In This Course:
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Video Content
-
eLearning Materials
-
Study Resources
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Completion Certificate
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Tutor Support
-
Interactive Quizzes
Learning Options
Discover a range of flexible learning options designed to meet your needs. Select the format that best supports your personal growth and goals.
Online Instructor-Led Training
- Live virtual classes led by experienced trainers, offering real-time interaction and guidance for optimal learning outcomes.
Online Self-Paced Training
- Flexible learning at your own pace, with access to comprehensive course materials and resources available anytime, anywhere.
Build your future with Oakwood International
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Frequently Asked Questions
Q. Do I need prior budgeting experience to take this course?
No
prior budgeting experience is required. This course is designed to provide the
foundational knowledge and practical skills necessary to manage HR budgets,
regardless of your previous experience.
Q. What will I learn in this course?
You
will learn to develop and manage HR budgets, allocate resources effectively,
forecast costs, and align HR strategies with financial objectives, ensuring
that HR activities support business goals within budget constraints.
Q. How is the course delivered?
The
course is delivered through a combination of interactive lessons, practical
exercises, and real-world case studies, providing hands-on experience in HR
budgeting and cost management.
Q. Is this course suitable for senior HR professionals?
Yes,
this course is ideal for senior HR professionals who need to manage HR budgets
strategically and align them with business and financial goals. It also helps
improve budget forecasting and cost control.
Q. Will this course help me manage HR budgets at a company-wide level?
Absolutely.
The course equips you with the skills to manage HR budgets at both the
departmental and organisational levels, helping you make data-driven decisions
and optimise HR-related costs for the business.