Talent Linked Consultancy
Location
Hyderabad | India
Job description
Designation - Manager / Senior Manager - HR Budgeting & Reporting
Shift - 9 AM to 5.30 PM
Work Week : 6 days with Sunday off.
Location - Hyderabad
Experience: 6 to 10 Years experience
Qualification: MBA/PGDM in HR or Finance is preferred
Objective: Planning, allocating resources, estimating expenses, analyzing the data and preparing dashboards related to the Human Resources (HR) function for the management at Apollo Pharmacy.
Create a financial plan that outlines the costs associated with various HR activities, such as recruitment, training, compensation, benefits, employee engagement, and other HR-related initiatives.
Roles & Responsibilities:
1. Budget Planning: Plan the yearly budget in sync with the business goals
2. Collect Data: Gather data on HR-related expenses from previous years, including costs for recruitment, compensation, benefits, training, employee development, employee relations programs, HR technology, and any other relevant expenditure
3. Forecast HR Needs: Analyze the organizations HR needs for the upcoming budget period. This may include predicting workforce growth or downsizing, addressing skill gaps, anticipating turnover rates, and identifying potential compliance requirements
4. Allocate Resources: Based on the HR objectives and needs, allocate funds to different HR functions. Prioritize critical areas that contribute most to the companys success
5. Estimate costs : Take into account inflation rates and potential salary increases for employees when estimating compensation and benefit costs
6. Review Statutory and non-statutory benefits: Be aware of labor laws, tax regulations, and other legal requirements that might impact HR costs such as statutory benefits comprising of provident fund, employee state insurance, gratuity, earned leave, maternity leave, payment of bonus and non-statutory benefits like health insurance and performance bonuses
7. Include Technology Costs : Consider the expenses related to HR software, applicant tracking systems, payroll systems, and other relevant tools
8. Contingency Planning : Include a contingency fund to account for unforeseen HR expenses or emergency situations, such as unexpected turnover or legal issues
9. Monitor and Adjust : Continuously monitor HR expenses throughout the budget period and compare actual costs to the budget. If necessary, make adjustments to ensure spending remains in line with the plan
10. Collaborate with HR and Finance Teams : This role requires close collaboration between the HR Team and the Finance department. HR needs to provide accurate data and justify the budget requests, while finance will look into the overall financial feasibility.
11. Analyze, Visualize and Present Data : Prepare Dashboards, Reports, Presentations for the HR Head as and when required on Daily-Weekly-Fortnightly-Monthly-Quarterly basis.
Job tags
Salary
