Human Resources Steps in Budget Planning & Execution

Written by tara duggan
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Human Resources Steps in Budget Planning & Execution
Budget planning and execution requires precision for your human resources department. (still life with calculator image by Astroid from

Managing a human resources department involves budget planning and execution like any other company department. Steps include preparing a forecast, developing your personnel, analysing jobs, and preparing a short- and long-term plan to execute your vision. By accurately assessing what work needs to be done and who can do it most efficiently, managers can ensure an organisation's success.

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Preparing a Forecast

Depending on the current size of a business and its strategic goals, hiring plans may be minimal or global in nature. Anticipating how to staff the operation with accuracy improves the longer a company has been in business. Using previous results or by comparing a business with similar companies to get the needed data, a manager can predict the growth pattern and the type of personnel needed to maintain or expand the business.

Developing Employees

In addition to interviewing and hiring new employees, developing career plans for existing employees (including executive leadership) requires budget planning and execution. Workshops, seminars, self-paced courses and formal education degrees typically cost money, so assessing company needs carefully requires thought. Ensuring the return on investment---in the form of improved skills in professional development or technical expertise---typically warrants the expenditure. Companies should be prepared for any employee turnover and have applications and resumes on file, ready to act upon should the company need to replace or expand the workforce.

Analysing Work Flow

By examining tasks, managers can document the best policies and procedures to utilise in order to complete the work in a timely and cost effective manner. By accurately defining each job's scope, responsibilities, required experience, skills and knowledge, managers can plan to develop, retrain or hire personnel to accomplish each task. Providing training for professional or technical development motivates employees to utilise their skills on the job to execute the company's strategic goals. Gaps in company expertise should result in recruitment activities as quickly as possible.

Creating a Comprehensive Plan

Using industry standard tools, managers can create comprehensive plans including budgets for wages, training and recruitment programs for current and future financial years. Tracking and monitoring actual expenditures should influence future planning strategies. Any issues encountered during execution should be examined during post-project review sessions, and any lessons learnt should be incorporated into future Human Resources budget planning and execution activities. Typically, three to six months planning results in successful execution of advertising, interviewing, hiring, assessing and training company personnel.

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