HR Budget and Cost Management

MODULES:

INTRODUCTION: THE RELEVANCE OF HR BUDGETING AND COST MANAGEMENT WITHIN STRATEGY EXECUTION 

 

• The Link between HR Strategy, HR Planning, HR Budgeting and Cost HR Management
• Why HR Budgeting and Costing are so important ?
• Understanding core HR Processes: Integrating Financial and Non-financial Aspects
• Identify and Discuss the Key issues in terms of HR Budget / Costing for your Organization

 

HR BUDGETING FRAMEWORK AND ITS ROLE WITHIN The WORFORCE MANAGEMENT PROCESS 

• The Role of HR Budgeting in workforce Management
• The Value of HR Budgeting in your Company
• Behavioral Implications of Budgeting
• Key Concepts and Terminologies in HR Budgeting
• Advantages and Disadvantages: Critical issues to be Discussed
• Overview on the Financial Statements – Balance sheet, Income statement and Cash-Flow for HR processes

HR COST MANAGEMENT FOR BUDGETING PURPOSES 

• HR Cost Concepts and Terminology
• Different HR Costs for Different Purposes

 

TRADITIONAL VS. ADVANCED TECHNIQUES IN HR COST-CONTROL 

• Under-costing and Over-costing: The Consequences for workforce management
• How to refine HR Costing System?
• Indirect vs. Direct costs: Traditional Cost Allocations Systems vs. Activity-Based Costing (HR imperatives)
• HR Cost Drivers

 

BROADENING THE PERFORMANCE MEASUREMENT SYSTEMS 

• Shortcomings of Traditional Approaches to HR Budgeting and Performance Measurement
• Need to Linking Financial to HR Operational Issues
• Recent Best Practices: the Balanced Scorecard and Six-sigma
• Financial Perspective and Customer Perspective
• Internal Business Process Perspective and Learning & Growth Perspective
• Developing and Adapting the Scorecard