MHR 523 Lecture Notes - Peter Principle, Psychological Stress, Markov Chain

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Human resource planning can help the company succeed, or fail where a business may have an office full of workers, but those workers may not have the qualifications to do their jobs properly. Human resource planning predicts the future demand and supply of employees and tries to meet the demand in the future with supply. If an organization is not staffed with the people with the necessary qualifications or there isn"t enough people, strategic success is in danger. Company"s growth and expansion strategies are associate with aggressive hiring, training and maybe even promoting employees. A retrenchment or a strategy that focuses on reducing costs, because we are reducing costs we lay people off or try to make people retire early. Human resource planning improves the recruiting, selection and training strategies which help companies meet their legal obligations but they also help them face their challenges proactively. Successful tactical plans require appropriate human resource plans.

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