IRE346H1 Chapter Notes - Chapter 4: Demand Forecasting, Econometrics, Scenario Planning
15 May 2020
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Document Summary
The process of ascertaining the net requirement for human capital by determining the demand for and supply of human resources now and in the future. Deeply embedded within the organization"s strategy and structure. Firm strategy and environmental scanning are important steps in determining the kinds of activities and behaviors that are critical to organizational success. Effective hr forecasting focuses on a comparison between the organization"s current job-related ksaos that workers must have to perform successfully in the position and those desired in the workforce of the future. By keeping the level of available human capital in step with operational requirements, the organization minimizes any hr gaps or surpluses. Ensuring a close linkage to the macro business forecasting process. A problem can develop in organizations when the hr planning process is not aligned to the overall business goals of the organization.
