It is also time to look at those resources that you have outsourced. It is critical that you look at those costs carefully and renegotiate with those providers harder than you ever have before. The budget dollars you save on renegotiating fees you can place in retention programs and general employee based programs that will keep your employees at your company and also as an attraction mechanism for those you intend to recruit. Here are some areas to concentrate on if you have not already:
- it goes without saying that you should zero base your 2009 HR budget for every line item
- renegotiate your recruitment fees for contingent and retained searches
- review and renegotiate where necessary web-based expenses
- renegotiate wellness programs you already have in place
- strong review of your benefit packages and survey to make sure you have the right mix of programs
- training programs and web-based learning
- employee satisfaction survey to make sure your employees are in harmony with the strategy of the company and your entire employee program mix
- review of compensation programs to ensure you are maximizing productivity
- orientation is key to what an employee feels about a company in the early stages of their employment
- travel & relocation, making sure you have the appropriate dollars in place to keep in front of your employees to stop-gap any impending issues
- utilize your dues and subscriptions that build your team and strengthen the organization as a whole
- make sure there are budget dollars for your intranet so it is the first place employees go for information
These are just a few key budget items that you should be looking at to maximize your budget and how you spend your budget dollars.
As always your input and comments are welcomed.
