MIE 330 Lecture Notes - Lecture 5: Indian Railways, W. M. Keck Observatory, Succession Planning
17 Nov 2017
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Document Summary
Chapter 5 planning for and recruiting hr. Hr planning helps meet business objectives and gain a competitive advantage over competitors. Three stages: forecasting, goal setting and strategic planning, and program implementation and evaluation. Figure 5. 1: overview of the hr planning process. Attempts to determine supply and demand for various types of hr to predict areas within the organization where there will be labor shortages or surpluses. Constructing and applying statistical models that predict labor demand for next year, given relatively objective statistics from previous year. Objective measures that accurately predict future labor demand. A forecasting technique for determining future staffing needs by using ratio"s between two variables, such as: Based on forecasts for labor demand and supply, planner can compare figures to determine whether there will be a shortage or surplus of labor for each job category. Determining expected shortages and surpluses allows the organization to plan how to address these challenges.
