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Insights Sushma Bhalkikar

Key Components Of

HR Budgeting

New Year Checklist

When it was time to take stock of things for the ongoing financial year and
concretize budget for the next, situation changed drastically. After going
through prolonged and vigilant process of budgeting at the beginning of this
year, most of the plans and actions remained in cold storage.

There is nothing vigilant process of budgeting at the
permanent except change. beginning of this year, most of the
Sushma Bhalkikar We have heard this plans and actions remained in cold
Head- HR, umpteen time and storage.
GMR Varalakshmi Foundation experienced it exponentially in the
past few months. Even household At present when VUCA world is
Sushma Bhalkikar is currently heading budgets, which seldom go through at its peak, designing a successful
the HR function for the Community major changes, have been topsy-turvy. HR budget is a phenomenal task.
Services Wing of the GMR Varalakshmi
Foundation, the CSR arm of GMR Group The definition of ‘essential items’ Nevertheless, with experience,
of companies. She has been associated with underwent a sea change and ‘weekend foresight, valid assumptions and
GMR Group for about 12 years and her entertainment budget’ remained careful analytics, HR should be able to
previous assignment was with Nagarjuna mostly unutilized. come up with a budget that supports
Fertilizers and Chemicals Limited for 11 the business to stay relevant during
years. She was a member of the Internal
Committee for Policy against Sexual When it was time to take stock of such disruptive times. Some key
Harassment in other companies and now things for the ongoing financial components to consider are as follows,
in GMR Group. year and concretize budget for the though the allocation under each
next, situation changed drastically. will depend on how companies are
After going through prolonged and impacted and what are its priorities.

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