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Lecture

Chapter 5 MHR.docx

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Department
Accounting
Course
ACC 100
Professor
Else Grech
Semester
Winter

Description
Chapter 5 MHRHuman resources planning is when we determine the future qualifications of the HR position to make sure that the company will be equipped with the people who possess the skills to perform the job and meet the strategic objectivesThe key steps in HRP involve predicting future demand for labor analyzing the labor supply and planning and implementing HR programs to balance supply and demandNo HRP or poor HRP will lead to high costs when unstaffed positions create costly inefficiencies and when severance pay is required for large numbers of employees being laid offHRP proactive is a dynamic process where it expects and influences an organizations future by determining the demand for and supply of employees under changing conditions and by developing plans and activities to satisfy their needsIneffective HR leads to instances where the department is firing employees while another department is hiring employees who possess similar skills which decreases the motivation to work the productivity and will result in lossesIneffective HR planning prevents us from achieving short term operational plans andor long range strategic plans Relationship between HRP and strategic planningBecause strategic plans are created and developed by people it is important to determine how many people will be available as a critical element in the strategic planning processHRP and strategic planning are efficient when a negative and interdependent relationship exists between themFailure to combine HRP and strategic planning leads to serious consequences The importance of environmental scanningEnvironmental scanning is an important aspect of HRP and strategic planning processes these environmental factors includeI economic conditions general regional and localmarket and competitive trends newrevised laws and the decisions of courts and quasi judicial bodies social concerns related to health care childcare and educational priorities technological changes demographic trendsThe wellbeing of the economy effects supply and demand for products and services when then influences the amount of workers and type of workers neededMost important factor relates to the demographic changes in labor force composition Steps in HRPI forecast future human resource needs demandIi determine the availability of internal and external candidates supply Iii planning and implementing HR programs to balance supply and demand Step 1
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