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Lecture 1

MHR 523 Lecture 1: Human Resource Planning PowerPoint Notes

Human Resources
Course Code
MHR 523
Lamb Danielle

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Human Resource Planning
Human Resource Planning (HRP)
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
HRP for the Oldest Company in the World
Kongo Gumi is the oldest company in the world
o They were able to adjust their business to the changing world
Target failed
o Was the leadership right?
o Did they train properly?
Strategic Importance of HRP
Helps organization:
o Meet strategic goals and objectives
o Achieve economies in hiring new workers
o Make major market labour demands successfully
o Anticipate and avoid shortages and surpluses of human resources
o Control or reduce labour costs
Steps in the HRP Process
1. Forecasting the availability of candidates (HR Supply)
2. Forecasting future HR needs (HR Demand)
3. Programs to balance supply and demand
HR Supply
o What are the 2 main sources: Internal & External
Internal or External Good Exam Question****
Advantages of Internal Hiring/Promotion
o Increases morale
o Company invest in itself
o Less risk since you know the workers and he/she has ‘firm specific human capital’
Disadvantages of Internal Hiring/Promotion
o No new ideas
o Could be expensive if employees expects raise, seniority etc
o Might not be the right fit for the position
o Difficult transition to leadership
o Lower productivity within the department when person leaves
Advantages of External Hiring
o Hiring someone who has the KSAs that may have been lacking
o Very specific hiring to the position
o Perhaps more incentive to prove oneself as a new employee
o May hire at higher level
Already have leadership experiences
o Not tuck in old ways, easier to train/socialize
o Bring new ideas/fresh perspective
Disadvantages of External Hiring
o Less knowledge of business/company culture
o Cost of training
o Time consuming to get to know the ropes
o Greater risk—you don’t know them
o Effect on the current employees
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