Use the following key discussion questions to help you dig further into the HR department budget considerations. You are to discuss these questions in a minimum of 5 double spaced pages (not counting a cover or reference page) in APA format. The text must be cited and you may choose to include additional sources if you wish.
Discussion Questions:
1.Did you agree or disagree on the budget the HR Director submitted? Why or why not?
2.What new expenses must be taken into consideration?
3.What would be some possible functions to outsource? Justify your answer with financial data and return on investment.
4.How will you justify and negotiate the HR budget?
Finally, key points are to be compiled into a PowerPoint presentation for the organization’s Senior Management. The presentation should be a minimum of 20 slides (including cover page and reference page slides) providing information on HR department budget, justification on each item and discussion on how HR will help the company achieve their goals.
Gen Co’s HR Department Budget, 2005
Irene Foster, GenCo’s HR Director, must prepare a department budget for the year ending December 31, 2005. From her participation in executive strategy meetings, she knows that the company wants to improve their workforce performance and speed up key operations over the coming years. With those overall corporate goals in mind, Foster develops the following budget for 2005:
Short Term Strategies and Plans
•HR research team will conduct employee-performance and morale survey during first quarter; will tabulate and interpret results during the second quarter.
•HR group will step up workforce training by year end.
•HR director will work with information technology team to select and install new payroll database by end of third quarter.
Head Count Plan
•Add one new trainer, increasing training staff from one to two.
•Reduce the number of payroll administrative positions by one, decreasing staff from three to two.
Departmental Spending
Labor
Salaries, wages and benefits 231,872
Labor total 231,872
Operating Expenses
Materials and supplies 3,210
Office supplies 2,123
Printing and binding 3,030
Telephone 2,000
Postage 1,600
Travel and training 5,250
Equipment rental 1,270
Contractual services 65,000
Total 83,483
Capital outlay
Machinery and equipment 3,500
Total 3,500
Total for department $318,855
