HR Budget Utilization Rate
Percentage
Reflects the percentage of the HR budget that has been utilized during a given period. This metric gives an overview of how efficiently the HR department is operating in terms of financial resources, indicating whether they are under or over budget.
Formula
(Amount of HR Budget Spent / Total HR Budget) x 100
Example
If the HR department has spent $70,000 out of an allocated $100,000 budget, the HR Budget Utilization Rate would be 70%.