Comprehensive and Detailed Explanation:
The Workforce Plan to Budget OMBP allows organizations to align workforce planning with financial
strategies to optimize resource allocation.
Forecasting Talent Needs: Identifies short-term and long-term hiring requirements based on business
growth projections.
Cost Management: Helps organizations balance workforce expansion with budget constraints to
avoid over-hiring or under-utilization of funds.
Strategic Workforce Planning: Translates hiring requirements into a structured budget to ensure
efficient allocation of financial resources.
Reference: Oracle Fusion Cloud HCM - Workforce Planning and Budgeting Guide.
