HRM107 Lecture 5: HRM Planning #2
3 Oct 2018
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Supply forecasts are used to predict worker flows and availabilities. Consider: how much can the organisation rely on internal supply which skills and experience may not be obtainable internally, what external sources will be utilised. Methods for forecasting internal supply include: analyse historical turnover rates . Estimate likely future turnover rates: cohort analysis, survival rate calculated for each cohort e. g. , year of hiring. Appointing a ceo at ge includes: 6 year process, 5 month transition, several internal candidates, at the time, it was called the most closely watched, highly anticipated, and frequently second-guessed corporate succession drama ever . Approximately 1% of the australian workforce is on a 457 visa The government is seeking to reduce competition from overseas workers for those. Managing a labour surplus: options for reducing a labour surplus include, downsizing, pay reductions, demotions, transfers, work sharing, retirement, natural attrition, retraining. Human capital management: this is an example of hard" hrm.
