The Budgets and Forecast tab is a sub-tab of the Hiring Plan, and shows the budget vs the forecast for each approved headcount.
In the center of the page there is a tile that tracks your variance, which is the deviation from the budget that was set for the hiring plan based on the actual progress that the Talent team is making. Variance can come from moving target start dates, paying a new hire more or less than what was budgeted for, or adding/removing roles from the hiring plan.
Budget - the headcount budget that was locked in at the time that the request was approved, based on job level, compensation, location, and start date. It does not change as each headcount is updated.
Forecast - the real-time cost of each headcount in the hiring plan, which updates based on changes to job level, compensation, location and start date. It does change.
Variance - budget minus forecast
Committed spend - the amount that your division/department has committed to spend on the new hires who have accepted offers to fill your open headcount this fiscal year
Remaining - budget minus committed spend
Below the tiles is the hiring plan. For Finance and Admin users, the entire company's plan will be visible. Division and Department leaders will have access to all approved headcount in their division/department, and hiring managers will see only the roles in their reporting line.
For each headcount, you can see budgeted start date, budgeted compensation, budget impact, target start date, target compensation, target impact, and remaining budget. Hovering over budget impact and target impact will show you how the numbers have been calculated.
When the role is coming in over or under budget, you will see the impact in the "Remaining budget" column. This will enable you to make adjustments in real time to ensure you're minimizing variance as much as possible.