workforcebudget
nounUK /ˈwɜːkfɔːs ˈbʌdʒɪt/
US /ˈwɜːrkfɔːrs ˈbʌdʒɪt/
A plan for how much money a company will spend on its workers.
The manager checked the workforce budget before hiring two new helpers.
RELATED WORDS
OTHER MEANINGS
2. The total amount of money set aside to pay all employees for a set period.
Our workforce budget for next year covers salaries, overtime, and training.
3. A financial limit on how many people a department can hire.
Because the workforce budget is tight, the team will share one new position.
4. A forecast of labor costs used when planning a project.
The project's workforce budget was higher than expected due to extra weekend shifts.