Evaluate the HR Budget Planning, Proposal, and Negotiation Strategy
From burden to boardroom: transform your HR budget to become a strategic partner.
RETIRED CONTENT
Please note that the content on this page is retired. This content is not maintained and may contain information or links that are out of date.Without an HR budget planning, proposal, and negotiation strategy:
- HR continues to be viewed as overhead rather than as a strategic business partner to the business.
- HR cannot demonstrate value from a business perspective.
- Business and stakeholders continue to lack an understanding of HR spending requests and therefore budgets continue to get cut.
A formal strategy can:
- Elevate HR as a true strategic business partner to the business by understanding and explaining the finance behind the requests.
- Accurately demonstrate value-add of services and financial gains or cost reductions for the business from strategic projects.
- Improve awareness of costs and more informed spending choices.
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Module 1: Make the Case
The Purpose
- Establish metrics that will help you demonstrate the value and improvement achieved by evaluating and preparing both an operational and project-based budget plan.
Key Benefits Achieved
- Use the data to assist with gaining stakeholder buy-in for strategic business-focused projects.
| Activities: | Outputs: | |
|---|---|---|
| 1.1 | Discuss the challenges that will be most significant in evaluating the HR budget process. |
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| 1.2 | State expectations for the workshop. |
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| 1.3 | Discuss the values and benefits leadership development. |
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Module 2: Link HR initiatives to business goals
The Purpose
- Establish how the current HR strategy is meeting business goals and objectives.
- Determine how the current HR strategy can become more closely aligned with the business to deliver value add.
Key Benefits Achieved
- Identify how current HR strategy is meeting organizational goals.
| Activities: | Outputs: | |
|---|---|---|
| 2.1 | Evaluation of all proposed projects against business drivers. |
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Module 3: Prioritizing the Projects
The Purpose
- Establish which projects are key and must be delivered.
- Establish projects that are not a priority and can be delayed should there be budget cuts.
Key Benefits Achieved
- Prioritization of all projects based on linkages to business drivers.
| Activities: | Outputs: | |
|---|---|---|
| 3.1 | Discussion of top priority projects placed on a continuum of important to not important. |
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