MHR 523 Lecture Notes - Lecture 5: Markov Chain, Succession Planning, Job Sharing

• School: Ryerson University
• Department: Human Resources
• Course: MHR 523
• Professor: Rasha Narsa

Document Summary

The process of forecasting future human resources requirements to ensure that the organization will have the required number of employees with the necessary skills to meet its strategic objectives without shortages or surpluses. Human resource planning can vary from capturing basic information to a more sophisticated approach. Tep (cid:1007): pla(cid:374)(cid:374)i(cid:374)g a(cid:374)d i(cid:373)ple(cid:373)e(cid:374)ti(cid:374)g hr p(cid:396)og(cid:396)a(cid:373)s to bala(cid:374)(cid:272)e uppl(cid:455) a(cid:374)d de(cid:373)a(cid:374)d. The external environmental factors most frequently monitored include: economic conditions (general, regional, and local), market and competitive trends, new or revised laws, social concerns related to health care, childcare, and educational priorities, technological changes, demographic trends. Isolating the critical from the insignificant e. g. scanners have difficulty picking out the truly important events. Few trends exist in isolation e. g. difficulty finding employees where labor shortages exist. Hr planners react to current events and other issues that affect their practice. External and internal hiring: factors they base it on is level of seniority, permanent/temporary opening, skills. U(cid:373)(cid:373)a(cid:396)(cid:455) of (cid:272)u(cid:396)(cid:396)e(cid:374)t e(cid:373)plo(cid:455)ee"s edu(cid:272)atio(cid:374), e(cid:454)pe(cid:396)ie(cid:374)(cid:272)e, i(cid:374)te(cid:396)ests.