MHR 523 Chapter Notes - Chapter 3: Nominal Group Technique, Markov Chain, Delphi Method

• School: Ryerson University
• Department: Human Resources
• Course: MHR 523
• Professor: Rasha Narsa

Document Summary

Relationship of human resource planning and strategic planning. Human resource planning systematically forecasts an organization"s future demand for and supply of employees and matches supply with demand. An organization"s strategic plan, involves decisions such as an organization"s primary mission, divestiture of current business units, or new ways of doing business. If an organization is not properly staffed with the right numbers and types of people, strategic success is endangered. Organization"s growth or expansion strategy is usually accompanied by aggressive hiring, training, and/or promotions of employees. Cost reduction leads to people being laid off or early retirement. Human resource planning, by facilitating better recruitment, selection, and training strategies not only helps companies meet their legal obligations but also allows them to face challenges proactively (aka employment planning) Successful tactical plans require appropriate human resource plans. A firm"s strategic plan is often executed through a number of short-range, tactical (or operational) plans that focus on current operations: ex.