Human Resource Budgets

In Oracle HRMS, we can define non-monetary budgets, such as headcount or full-time equivalents (FTEs) that are based on organization’s work structures. Budgets can be defined against an organization, job, grade, position, or any combination of these. You can monitor the budgets by comparing the budget values with actual values derived from employee assignments.

For example, you might define a headcount budget of two for the position Marketing Manager. The variance of the actual value from the budget value depends on the number of employees assigned to that position at any time. A negative variance indicates a vacancy.

Salary Budgeting

Using Oracle HRMS, you can set up HR budgets for headcounts and full time equivalents(FTE) at various levels of the organization. Most enterprises need to add salary estimates to these headcount budgets to provide salary budgets. Oracle HRMS provides you with the key information you require to define your salary budgets:

Payroll KPIs - Part II

In continuation to the previous post, the next key performance indicators can be - 

2. PRODUCTIVITY – intends to measure how productive the payroll team as a whole and individually are, by measuring the ratio of payroll people to the number of employees being serviced. Additional metrics allow identification of issues affecting productivity.  Standard metrics include:

Payroll KPIs – Part I

As a Payroll stakeholder, one is responsible for managing what is the greatest cost of one’s organizations and with that comes the continued attention of Finance, C-Level Management and the Board.  You are being monitored and usually measured on cost and efficiency and you are always at risk of being outsourced to a more viable option.

If you are not already measuring, monitoring and acting upon Key Performance Indicators (KPI’s) in your payroll service, you need to start NOW!!