Bio D project2017
Download as PPTX, PDF
0 likes129 views
This document summarizes the HR budget plan for Bio D Pte Ltd for the years 2016 and 2017. It proposes increasing the total HR budget by 20% from $9 million in 2016 to $10.8 million in 2017. Specific increases are proposed for training and development (25%), certification and awards (20%), compensation and benefits (5.5%), and recruitment and selection (15%). The increases aim to retain current staff, hire 22 new employees, update staff skills, and motivate employees to help the company achieve its revenue and profitability growth targets.
Bio D project2017
- 1. HR Budget Planning for Bio D Pte Ltd. Presented by HCSTeam HCS Academy for Manage Budgets and Finances (Copyright 2017)
- 2. 500 600 700 1400 -300 -250 -100 200 0.00 0.10 0.20 0.30 0.40 0.50 0.60 0.70 0.80 0.90 1.00 2014 2015 2016 2017 Bio D Pte Ltd Revenue Net Profit
- 3. 3 year high growth company Yet to hit breakeven point Plans to achieve 100% growth in revenue ($70 mil ->$140mil) Hit positive profitability by 2017 Background
- 4. Maintain current staff strength Increase HR budget by 20% 2016 2017 Training & Development $800,000 $1,000,000 (+25%) Certification & Awards $500,000 $600,000 (+20%) Compensation & Benefits $8,500,000 $8,970,000 (+5.5%) Recruitment & Selection $200,000 $230,000 (15%) Total $9,000,000 $10,800,000 (+20%) HR Budget Approach
- 5. Compensation & Benefits Market survey shows that our salaries across all job functions are benchmarked against industry standards Recommend for conservative increment for salaries of senior management executives More emphasis on commissions and incentive compensation to motivate employees to perform
- 6. Recruitment & Selection Propose to increase budget by 15% Retain high performers and experienced staff (80%), layoff underperforming staff (5%) New hires 22 staff Target sales executives, specialists and engineers in medical device
- 7. Training & Development Skillset not up to date, increase budget in training/ e- learning Use of more advanced medical technologies, increase staff competency To reach out to global markets, travel expenses needs to be increased Certification & Awards Increase recognition & rewards to boost staff morale and retain good performers.
- 8. Thank you. If you have any questions please call 12345678 or email me at stienberg@12345678.com