Skills-based human capital budgeting: A strategic initiative, not a financial exercise

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eISSN: 1848-137X / ISSN: None

Journal of Cost Management

Volume 15, Issue 3 : 30-36

Review Article

Skills-based human capital budgeting: A strategic initiative, not a financial exercise

J.L. McKenzie

G.L. Melling

Abstract

The role of human capital planning and budgeting in the financial success of an organization is discussed. Skills are planned and budgeted as required by activities identified as enablers of critical success factors. Financial calculation is completed to arrive at the budget cost only after planning of skills and activities. The ability to measure and cost human capital capacity is important for the growth of an organization.

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