ADMS 3430 Study Guide - Final Guide: Demand Forecasting, Delphi Method, Outsourcing

• School: York University
• Department: Administrative Studies
• Course: ADMS 3430
• Professor: Leigh Lampert

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. Transition based forecasting: forecasting that focuses in tracking internal change instituted by the organization"s managers. Event- based forecasting- forecasting concerned with changes in the external environment. Process-based forecasting: forecasting not focused in a specific internal organizational; events but on the flow or sequence of several work activities. Benefits of hr forecasting: reduces hr costs, increases organizational flexibility, ensures a close linkage to the macro business forecasting process, ensures the organizational requirements take precedence over issues of resource constraint and scarcity. Human resource demand: the organizations projected requirement for human resources. Human resources supply: the source of workers to meet demand requirements, obtained either internally (current workers/members of the organizations workforce) or from external agencies.