MHR 849 Lecture Notes - Human Resources, Lastminute.Com, Visible Minority

• School: Ryerson University
• Department: Human Resources
• Course: MHR 849
• Professor: Rupa Banerjee

Document Summary

Hr forecasting: the heart of the hr planning process, can be defined as ascertaining the net requirement for personnel by determining the demand for and supply of human resources now and in the future. Reduce hr costs organizations less likely to have to react in costly last-minute crisis mode to unexpected developments in the internal or external labour markets. Increases organizational flexibility increase number of viable policy options available to organization. Key personnel analyses conducted by hr forecasters: specialist/technical/professional personnel, employment equity designated group membership. Prediction: a single numerical estimate of hr requirements associated with specific time horizon and set of assumptions. Projection: several hr estimates based on a variety of assumptions. Envelope: an analogy in which one can easily visualize the corners of an envelope containing the upper and lower limits or bounds of the various hr projections extending into the future. Scenario: a proposed sequence of events with its own set of assumptions and associated program details.