50, What is HR budget and what is an optimum budget the organisation should have

#HRhelpdesk #IndiaHRGuide #Mandeep Singh, with over 24 years of experience in Human Resources explains that an HR budget is a crucial financial plan covering all organizational expenses related to managing people, excluding HR staff salaries. It typically includes costs for training, HR technology, employee engagement, compliance, recruitment, and development activities. The HR budget helps organizations track total outflow on people management and calculate average HR cost per employee. By carefully planning and monitoring this budget, organizations ensure efficient resource allocation and support for business goals, employee satisfaction, and compliance.