HRM 1008 Lecture 3: Chapter 3

5 Pages
35 Views

Department
Human Resources Management
Course Code
HRM1008
Professor
Angie

This preview shows pages 1-2. Sign up to view the full 5 pages of the document.
Human Resource Planning:
Forecasts an organization’s future demand for and supply of employees, and matches supply
with demand
HR department contributes to success:
Proper staffing is critical
Different strategies require varying HR plans
HR planning facilitates proactive responses
Successful tactical plans require HR plans (operational plans)
HR planning can vary (Levels 1-5)
o Higher the number, the more significant the planning
Human resource planning can vary from capturing basic information to a more sophisticated
approach
Level 1: No formal planning
Level 2: Minimal; focus on headcount (e.g., we have five people, someone
resigned now we have four)
Level 3: Long term forecasts (ranges from 3-5 years small to medium sized
organization)
Levels 4 & 5: HRP is a core strategic process (horizon of between 3-6 years
planning ahead figure out what people need and how many)
o Level 5 has more technological systems to do the research investment
will draw out closer approximations to what will actually happen
Objectives: what it is you need to accomplish to balance supply with demand
Causes of Demand for Human Resources:
1. External economy is booming
Economic Developments
Social- political- legal challenges minimum wage budget, free trade agreement
changes
Technological changes automation
Competitors supply and demand, decreased profits that leads to decrease in staff
numbers
2. Organizational
Strategic plan
Budget how many people you can hire
Sales and Production forecasts
find more resources at oneclass.com
find more resources at oneclass.com
New ventures look into new businesses or merge with other companies
Organizational and job design
3. Workforce
Retirements
Resignations
Termination
Deaths
Leaves of Absence
Forecasting Human Resource Needs:
Informal and instant forecast
Manager believes workload justifies another employee
Formal expert surveys
Planners survey managers
May use questionnaires or focused discussions (e.g. nominal group technique)
Delphi technique
Solicits estimates from a group of experts, usually managersuntil opinions
converge
Trend Projection Forecasts:
Extrapolation: extending past rates of change into the future
Indexation: matching employment growth with an index (e.g., ratio of production
employees to sales)
Budget and Planning Analysis: Organizations that need HR planning generally have
detailed budgets and long-range plans
New Venture Analysis: Planners estimate human resource needs by making comparisons
with similar operations
Computer-based simulation models: More sophisticated approaches (e.g., could use other
influences like interest rate changes)
Staffing tables usually goes with budget
The supply of human resources: internal supply estimates
Skill inventories: summary of worker skills and abilities (those people who are not
management)
Management inventories reports of management capabilities
Replacement chart looks like an organization chart will show who is going to be the
potential successors for people who retire from their jobs
Transition Matrices & Markov Analysis use matrix to do analysis
The supply of human resources: external supply estimates
Labour Market Analysis
Study of the firm’s labour market to evaluate the present or future availability
Community Attitudes
Affects nature of the labour market
How do people feel about the kind of job they have
find more resources at oneclass.com
find more resources at oneclass.com

Loved by over 2.2 million students

Over 90% improved by at least one letter grade.

Leah — University of Toronto

OneClass has been such a huge help in my studies at UofT especially since I am a transfer student. OneClass is the study buddy I never had before and definitely gives me the extra push to get from a B to an A!

Leah — University of Toronto
Saarim — University of Michigan

Balancing social life With academics can be difficult, that is why I'm so glad that OneClass is out there where I can find the top notes for all of my classes. Now I can be the all-star student I want to be.

Saarim — University of Michigan
Jenna — University of Wisconsin

As a college student living on a college budget, I love how easy it is to earn gift cards just by submitting my notes.

Jenna — University of Wisconsin
Anne — University of California

OneClass has allowed me to catch up with my most difficult course! #lifesaver

Anne — University of California
Description
Human Resource Planning: • Forecasts an organization’s future demand for and supply of employees, and matches supply with demand • HR department contributes to success: – Proper staffing is critical – Different strategies require varying HR plans – HR planning facilitates proactive responses – Successful tactical plans require HR plans (operational plans) – HR planning can vary (Levels 1-5) o Higher the number, the more significant the planning • Human resource planning can vary from capturing basic information to a more sophisticated approach – Level 1: No formal planning – Level 2: Minimal; focus on headcount (e.g., we have five people, someone resigned – now we have four) – Level 3: Long term forecasts (ranges from 3-5 years – small to medium sized organization) – Levels 4 & 5: HRP is a core strategic process (horizon of between 3-6 years planning ahead – figure out what people need and how many) o Level 5 has more technological systems to do the research – investment will draw out closer approximations to what will actually happen • Objectives: what it is you need to accomplish to balance supply with demand Causes of Demand for Human Resources: 1. External – economy is booming • Economic Developments • Social- political- legal challenges – minimum wage budget, free trade agreement changes • Technological changes – automation • Competitors – supply and demand, decreased profits that leads to decrease in staff numbers 2. Organizational • Strategic plan – • Budget – how many people you can hire • Sales and Production forecasts • New ventures – look into new businesses or merge with other companies • Organizational and job design 3. Workforce • Retirements • Resignations • Termination • Deaths • Leaves of Absence Forecasting Human Resource Needs: • Informal and instant forecast – Manager believes workload justifies another employee • Formal expert surveys – Planners survey managers – May use questionnaires or focused discussions (e.g. nominal group technique) • Delphi technique – Solicits estimates from a group of experts, usually managers—until opinions converge Trend Projection Forecasts: • Extrapolation: extending past rates of change into the future • Indexation: matching employment growth with an index (e.g., ratio of production employees to sales) • Budget and Planning Analysis: Organizations that need HR planning generally have detailed budgets and long-range plans • New Venture Analysis: Planners estimate human resource needs by making comparisons with similar operations • Computer-based simulation models: More sophisticated approaches (e.g., could use other influences like interest rate changes) • Staffing tables – usually goes with budget The supply of human resources: internal supply estimates • Skill inventories: summary of worker skills and abilities (those people who are not management) • Management inventories – reports of management capabilities • Replacement chart – looks like an organization chart – will show who is going to be the potential successors for people who retire from their jobs • Transition Matrices & Markov Analysis – use matrix to do analysis The supply of human resources: external supply estimates • Labour Market Analysis – Study of the firm’s labour market to evaluate the present or future availability • Community Attitudes – Affects nature of the labour market – How do people feel about the kind of job they have – E.g., when a big business leaves a small town it leaves a lot of people unemployed – if this happens frequently it will give people of the small town a bad attitude towards big box companies that create jobs just to take them away • Demographic Trends – Affects the availability of external supply
More Less
Unlock Document


Only pages 1-2 are available for preview. Some parts have been intentionally blurred.

Unlock Document
You're Reading a Preview

Unlock to view full version

Unlock Document

Log In


OR

Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit