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The responsibility of the human resource practitioner is to match the budget of the Human Resources Division with the strategic organizational objectives within the organization's instructions and procedures. This is particularly important to ensure that HRM is perceived as a strategic partner capable of stabilizing expenditures and linking the activities of the Division to the overall work program of the Organization. It is also important because HR is often seen as a cost center instead of an income source and may therefore be the most scrutinized center to find areas where costs are easily reduced. The well-planned and reliable human resource budget takes into consideration directly related to the organization's programs and activities.
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Budgetary Management and Human resources Management is inter-related. Budgetary definition, an estimate, often itemized, of expected income and expense for a given period in the future. It relates to a budget or to planning a budget. Budgetary planning is the process of constructing a budget and then utilizing it to control the operations of a business. Managing a human resources department involves budget planning and execution, just like any other company department. Personal finance budgeting allows you to account for what monies ... to basic money management through planning, budgeting, and saving. Nevertheless, both the size of the HR department and the number of employees have a positive effect on the HR management and budgeting interaction.
Budgetary control refers to how well managers utilize budgets to monitor and control costs and operations in a given accounting period. In other words, budgetary control is a process for managers to set financial and performance goals with budgets, compare the actual results, and adjust performance, as it is needed. A budget system consists of the elements that show how money is spent within a company for the short and long terms. ... The major objectives of budget systems include coordination, allocation of resources and general planning for operations.
A human resources department is a critical component of employee well-being in any business, no matter how small. HR responsibilities include payroll, benefits, hiring, firing, and keeping up to date with state and federal tax laws. Human resources (HR) is the company department charged with finding, screening, recruiting and training job applicants, as well as administering employee-benefit programs.
Human Resource Management is the organizational function that deals with issues related to people such as compensation, hiring, performance management, organization development, safety, wellness, benefits, employee motivation, communication, administration, and training.
As such, the five main functions of global human resource management are vital concepts to the strategic operation of a business.
The Human resources uses budgets to control the system and complying with the laws for the company.
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Agree with answer of Mr. Mohamed Abdelaty.
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