MHR 523 Lecture Notes - Lecture 3: Markov Model, Succession Planning, Human Capital
15 Nov 2016
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Document Summary
The process of forecasting future human resources requirements to ensure that the organization will have the required number of its employees with the necessary skills to meet its strategic objectives. Oldest company hangs on in turbulent times. Focus (short run focus vs long run focus) Apprenticeship is 10 year process at kongo gumi. Major cultural experiences in canada vs united states. Anticipate and avoid shortages and surpluses of human resources. Forecasting the availability of candidates (hr supply) If you were an hr manager, what factors would you consider --- Knowledge of business (from specific human capital) Employee knows the employee (strengths and weaknesses) Save on recruit/selection costs (time and money) Hire new staff to fill post of person promoted/transfer. Tension between coworkers when one is promoted. Unclear expectations, hasn"t articulated in what exceptional work is. They might slack because of their boosted ego. If they find out they"re more valuable, they might ask for more money.
