MHR 849 Lecture Notes - Lecture 5: Management System, Ceridian, Moving Average
5 Jun 2018
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Department
Course
Professor
Chapter 5: Determining HR Demand
hr demand- the organizations projected requirement for human resources
2 Approaches to HR Demand
Quantitative
1. Trend analysis
2. Ratio analysis
3. Time series models
4. Big data
5. Regression analysis
Qualitative
1. Scenario planning
2. Delphi technique
3. Nominal group technique
4. HR budgets/staffing tables
• How do you know which approach to use for your company?
• What fits the need of the strategic direction of your company, what fits your company's
style
• Quality, needs, and time
Trend Analysis- are important to business because they are historical representations of past
data (they compare current versus previous)
-what are the trends in the industry, trends in the market?
-historical representations tell us a lot - the quality of the data is what's important here
• Attempts to forecast personnel needs by extrapolating from historical changes in one or
more organizational indices
• It reveals the historical relationship between an operational index and the number of
employees required by the organization (demand for labour)
-operation index are things that are important to your company that you want to measure
-how do you determine which operational index is better for your organization
-example of a operational index - sales
Understanding Trends
• We need to use real numbers - sales, units produced, # of clients serviced, etc
• Compared to what, who, when? - (what is the time frame, etc)
• Link to business plan metrics
• How to know the number of employees on your organization: HRIS data, payroll,
organizational charts, have people who dont usually do the job to even take a look at the
numbers
•
Ratio Analysis- a quantitative method of projecting HR demand by analyzing the relationship
between operational index and the number of employees required
-lots of companies use ratio for financial performance, etc
Steps for an Effective Trend Analysis:
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Chapter 5: determining hr demand hr demand- the organizations projected requirement for human resources. Quantitative: trend analysis, ratio analysis, time series models, big data, regression analysis. Trend analysis- are important to business because they are historical representations of past data (they compare current versus previous) Historical representations tell us a lot - the quality of the data is what"s important here: attempts to forecast personnel needs by extrapolating from historical changes in one or more organizational indices. It reveals the historical relationship between an operational index and the number of employees required by the organization (demand for labour) Operation index are things that are important to your company that you want to measure. How do you determine which operational index is better for your organization. Ratio analysis- a quantitative method of projecting hr demand by analyzing the relationship between operational index and the number of employees required. Lots of companies use ratio for financial performance, etc.
