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:

Application Utilities Lookups

Lookups provide lists of valid values for certain items of information. This has two key advantages: 

• It ensures that all users use the same terminology, which makes it easier to inquire and report on the information.

• It speeds up data entry because you can enter just enough to identify the value, and the system completes the entry.

In Oracle HRMS, a list of values is called a lookup type. Each value comprises a code, a meaning, and sometimes, a legislative tag.

Define Organizations - Part I

In the next 3-4 posts (including this one) I’ll discuss about oracle hrms organization, oracle hrms organization classification and relevant oracle hrms tables

Organizations in HRMS

Organizations are used in oracle erp to represent Business Groups (BGs), External organizations (for example, tax offices, insurance carriers, disability organizations, benefit carriers, or recruitment agencies), Internal organizations (for example, departments, sections or cost centers) and GREs/Legal Entities.

Introduction to HRMS

Each and every enterprise needs people to manage and run its business. People are the most basic and the most important ingredient of any business. It could be an NGO, a Bank or a Robotics laboratory, no matter where the enterprise focuses on, it must need people to run it. That is why it becomes necessary for the enterprise to store organizational data along with employee data, and use them to manage the people related to the enterprise effectively. This requirement creates the market for a system called the Human Resource Management System.