MHR 523 Lecture 3: Chapter 3.docx

• School: Ryerson University
• Department: Human Resources
• Course: MHR 523
• Professor: Belinda Chang

Document Summary

Trend projections forecasts: extrapolation, indexation sales, extending past rates of change into the future, matching employment growth with an index e. g. ratio of production employees to. Other forecasting methods: budget and planning analysis range plans, new venture analysis operations, computer-based simulation models, organizations that need hr planning general have detailed budgets and long, planners estimate human resource needs by making comparisons with similar. Managing oversupply: when the internal supply of workers exceeds the firm"s demand, a surplus exists, there are various hr strategies, headcount reduction, attrition, alternative work arrangements. Managing oversupply: alternate work strategies: job sharing, dividing duties of one position between two or more workers, use of part-tome workers, replacing full time positions with part time, internal transfers, may find new jobs for surplus employees. Overcoming employee shortages: hire part time workers, hire full-time employees, popular strategy for meeting human resource needs, where internal transfer or promotion is not feasible, hiring full time employees.