Man Power Planning

Manpower Budgeting means to have an estimate for the head counts (employees) of the organization, Grade or Position wise, required for the upcoming year

Manpower Budgeting

Adequate flow of resources.

Enable the departments to function adequately.

Helps in identifying and achieving the goals.

Monitoring plans against actual plan.

Need For Manpower Budgeting

Advantages of Manpower Budget

Helps in formulating detailed plan showing.

An instrument to -

• Check departmental performance.• Measure results.• Attain short and long term objectives.

Forced to look into all aspects of department’s activities.

The Budget as a

Management Tool

The Budget as a Motivator

The Budget as a Plan

The Budget as a Financial

Control Mechanism

LINK BETWEEN M.BUDGET & ORGANIZATIONAL GOALS

• Budget forecast. Example- manager must recognize trends in supply prices

including discounts for ordering large quantities.

First step

• Brain storming with other departments head.

Example- new system has been introduced in a organization. All departments have analyze the impact of such system on your cost ,processing resources, staffing requirements and etc.

Second step

• Review and evaluate previous - trend and budget.

• Past errors will only enhance current budgeting efforts.

Third step

• Budget should be kept flexible to changing condition.

• Check the ability of department to perform within its budget.

example-compare the actual expense with budgeted items during the year.

Fourth step

• Sufficient time for the preparation of budget.

• Manager should seek help from finance department, for guidance.

Finally

HERE is a broad set of guidelines. • recruitment/ selection [ internal/ outsourcing ]

• contractors [external ]

• salary/ wages• training/ development [ includes induction/

orientation]•staff benefits

• staff amenities

• workplace facilities

• workplace safety

• salary contingency

• *workers compensation

COMPONENTS OF MANPOWER BUDGETING

HIRING COST

CONSTANT COST CHANGING COST

DEVLOPMENT COST

COMPENSATION COST

SEPRATION COST

SIX COST ELEMENTS

• Cash is a business's most precious asset. Managing Cash Flow is one of the most important tasks every top manager and business owner must be able to understand. Believe it or not, many businesses have had to shut their doors not because they weren't making a profit, but because they weren't managing and controlling their cash.

• A Cash Forecast is simply a tool that a businesses uses to plan: · How Much and When is Money Coming In? · How Much and When is it Going Out?

IMPORTANCE OF CASH FLOW FORECASTING IN M.BUDGETING

There are many different items that can be shown in manpower budgets :

BUDGET ITEMS

• The cost associated with inventory are important and should be considered while making a manpower budget .

• There cost can be classified in three categories:

INVENTORY MANAGEMENT IN MANPOWER BUDGETING

Real cost : Average amount of manpower in hand at one time

Space cost : space on per person basis , figuring all costs

Time , effort & personnel needed to manage.

CONCLUSION

HR Budgets force mangers to think ahead

by requiring them to formalize their planning

efforts .HR Budgets provide a

blueprint for accomplishing a set of stated objectives and

fitting your department into overall plan.

They set up warning systems for conditions requiring some kind of

remedial actions.

The HR budget process coordinates the activities

of entire institution by integrating the plans and

objectives .

Presented by:Nitin Singh

Gaurav Bhardwaj

Priyanka Kumar

Neha Goel

Vidit Jandu

Hitesh Gupta

Revant Kapoor

Eshwar Chandra Singh