MHR 523 Lecture Notes - Lecture 3: Succession Planning, Layoff, Golden Parachute
28 Apr 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 employees with the necessary skills to meet its strategic objectives. Anticipate and avoid shortages and surpluses of human resources. Steps in the human resource process: forecasting the availability of candidates (hr supply, forecasting future hr needs (hr demand, programs to balance supply and demand. Interest rates, wage rates, inflation, unemployment rates: labour market conditions. Demographics: education levels, age, gender, marital status: occupational market conditions. Relevant occupations (as applicable): e. g. engineers, skilled labour, accountants, etc. Skills inventory: an individualized personnel record held on each employee except those currently in management or professional positions. Management inventory: an individualized personnel record for managerial professional or technical personal including all elements in the skills inventory with the addition of information on specialize duties, responsibilities, and accountabilities. Helps the organization in being more effective in filling vacant positions.
