Textbook Notes (381,160)
CA (168,376)
Ryerson (11,724)
MHR (844)
MHR 523 (332)
Chapter 5

Chapter 5 - Human Resources Planning

3 Pages
115 Views

Department
Human Resources
Course Code
MHR 523
Professor
Margaret Yap

This preview shows page 1. Sign up to view the full 3 pages of the document.
Chapter 5 Human Resources Planning (HRP)
HRP is the process of forecasting future HR requirements to endure that the
organization will have required number of employees with the necessary skills to
meet its strategic objectives
Proactive process which anticipates and influences company’s future
HRP process includes:
oForecasting demand for labour
oAnalyzing labour supple
oPlanning and implementing HR programs to balance supply and demand
The importance of environmental scanning
External environmental factors usually monitored:
oEconomic conditions (general, regional, and local)
oMarket and competitive trends
oNew/revised laws, decisions of courts
oSocial concerns healthcare, childcare, education
oTechnological changes
oDemographic trends
Steps in HRP:
1.Forecasting demand
a.Quantitative approaches
i.Trend analysis: study of firms past employment levels over a period of
years to predict future needs
ii.Ratio analysis: making forecasts based on ratio between some causal
factors (number of sales) and the number of employees needed
iii.Scatter plot: graphical method to identify the relationship between two
variables
iv.Regression analysis: statistical technique, mathematical formula is
used to project future demands based on an established relationship
between an independent and dependent variable
b.Qualitative approaches
i.Nominal group technique: group of experts meeting face-to-face. Steps
include:
1. Idea generation
2.Clarification
3.Open discussion
4.Private assessment
www.notesolution.com

Loved by over 2.2 million students

Over 90% improved by at least one letter grade.

Leah — University of Toronto

OneClass has been such a huge help in my studies at UofT especially since I am a transfer student. OneClass is the study buddy I never had before and definitely gives me the extra push to get from a B to an A!

Leah — University of Toronto
Saarim — University of Michigan

Balancing social life With academics can be difficult, that is why I'm so glad that OneClass is out there where I can find the top notes for all of my classes. Now I can be the all-star student I want to be.

Saarim — University of Michigan
Jenna — University of Wisconsin

As a college student living on a college budget, I love how easy it is to earn gift cards just by submitting my notes.

Jenna — University of Wisconsin
Anne — University of California

OneClass has allowed me to catch up with my most difficult course! #lifesaver

Anne — University of California
Description
Chapter 5 Human Resources Planning (HRP) HRP is the process of forecasting future HR requirements to endure that the organization will have required number of employees with the necessary skills to meet its strategic objectives Proactive process which anticipates and influences companys future HRP process includes: o Forecasting demand for labour o Analyzing labour supple o Planning and implementing HR programs to balance supply and demand The importance of environmental scanning External environmental factors usually monitored: o Economic conditions (general, regional, and local) o Market and competitive trends o Newrevised laws, decisions of courts o Social concerns healthcare, childcare, education o Technological changes o Demographic trends Steps in HRP: 1. Forecasting demand a. Quantitative approaches i. Trend an
More Less
Unlock Document


Only page 1 are available for preview. Some parts have been intentionally blurred.

Unlock Document
You're Reading a Preview

Unlock to view full version

Unlock Document

Log In


OR

Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit