COURSE Instructor
SUMIT BHATTACHARYA >
Universities/Educational Institutes Associated with: Cambridge Academy of Professional – UK, HRCI-USA, ATD-USA, SHRM-USA, ProfQual-UK, IPAC-Singapore, Canadian University, Boston University, UEM, IEM, MDI, Techno University and University of Sydney.
Course Title:
Specialist in Strategic HR Budgeting: Planning, Managing, and Optimizing Human Resource Investments
Module 1: Introduction to HR Budgeting
- What is an HR Budget?
- Definition and Purpose.
- Importance of careful planning and leadership approval.
- Types of HR Budgets
- Incremental Budgeting: Adjusting previous year’s budget.
- Zero-Based Budgeting: Starting fresh, allocating funds based on current needs.
- Importance of HR Budgeting
- Ensuring HR operations are well-funded.
- Preparing for regulatory changes and securing a seat at the decision-making table.
Module 2: Components of an HR Budget
- Talent Acquisition & Recruitment
- Budgeting for job advertising, interviews, background checks, onboarding, and reducing turnover.
- Learning and Development
- Allocating funds for training, addressing skills gaps, certifications, and implementing learning systems.
- Compensation and Benefits
- Planning for employee salaries, health insurance, retirement plans, and other perks.
- Diversity, Equity, and Inclusion (DEI)
- Budgeting for DEI initiatives like inclusive hiring practices and cultural training.
Module 3: Advanced HR Budgeting
- Employee Relations and Talent Management
- Budgeting for employee engagement, team building, and management relations.
- Employee Safety and Well-being
- Allocating resources for physical safety, mental health, and security at work.
- HR Technology
- Investing in HR Information Systems (HRIS), payroll systems, and remote working tools.
- Administration of HR
- Ensuring adequate funds for the smooth operation of HR departments.
Module 4: Challenges and Psychological Aspects of HR Budgeting
- Challenges in HR Budgeting
- Balancing costs, avoiding overspending, and reallocating resources efficiently.
- Positive Psychological Aspects
- Impact of compensation, social gatherings, and rewards on employee morale and retention.
- Negative Psychological Aspects
- Risks of compromising on quality, underfunding training, and the impact of budget constraints on employee well-being.
Duration: 4 Classes
Contact Hours: 8 Hours
Method: Activity-based online sessions Interactive sessions, case studies, group projects, and hands-on exercises.
Assessment Method: Continuous assessment through quizzes, assignments, and presentation focusing on a real-world HR problem.