MHR 523 Lecture Notes - Lecture 3: Severance Package, Headcount, Outsourcing

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Human resources 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 without shortages or surpluses. Human resource planning can vary from capturing basic information to a more sophisticated approach. Step 3: planning and implementing hr programs to balance supply and demand. Step 2: forecasting future hr needs (demand) Step 1: forecasting the availability of candidates (supply) Define human resources planning (hrp) and discuss its strategic importance. 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 labour shortages exist.

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