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HRM 200 (155)

Chapter 5 and 6

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Human Resources Management
HRM 200
Katrina Di Gravio

CHAPTER FIVEHuman Resources Planningto meet organizational goals review human resources requirements to ensure o the necessary number of employees o the necessary employee skillsHuman Resources Planning Process Plan and implementForecastAnalyzeprograms to balancedemandsupply supply and demand Importance of Human Resources Planningachieve strategic goals and objectivesachieve economies in hiring new workersmake major labour market demandsanticipate and avoid staff shortagessurpluses controlreduce labour costsResults of Inadequate HR Planningvacant positions create costly inefficienciesmass layoffs requiring severance paysimultaneous layoffs and hiring in different departments reduces morale and productivity creates turnoverinability to meet operational and strategic plans HR Planning and Strategic Planning HR Planning External Environmental Factors Monitoredeconomic conditionsmarket and competitive trendsgovernment and legislative issues new lawssocial concerns health care childcaretechnological changesdemographic trendsElements of Effective HR Planning 1Forecast Future HR Needs Demand2 Forecast Future InternalExternal Candidates Supply 3 Implement Plans to Balance Supply and DemandForecasting Future HR Needs Demand Forecasting based onprojected turnoverquality and nature of employees relative to needsdecisions regarding product quality and new markets
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