HR Budget Planning for Bio D Pte Ltd. Presented by HCS Team HCS Academy for Manage Budgets and Finances (Copyright 2017)

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Bio D Pte Ltd Revenue Net Profit

• 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

• 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

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

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

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.

Thank you.If you have any questions please call 12345678 or email me at stienberg@12345678.com

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