MHR 523 Chapter Notes - Chapter 05: Unemployment Benefits, Sough, Severance Package
10 Apr 2017
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Document Summary
Human resource planning (hrp) is the process of forecasting future human resources requirements to ensure that the organization will have the required number of employees with the necessary skills to meet its strategic objectives. Both anticipates and in uences an organization"s future by systematically forecasting the supply of and demand for employees under changing conditions and by developing plans and activities to satisfy these needs. Effective hrp helps an organization achieve its strategic goals and objects, achieve economies in hiring new workers, make major labour market demands more successfully, anticipate and avoid shortages/surpluses of human resources, and control/reduce labour costs. Hrp has recently become a key strategic priority not just for hr departments but for strategic business planners as well. Key steps in the hrp process include analyzing forecasted labour supply, forecasting labour demands, and then planning/implementing hr programs to balance supply and demand. Lack of hrp can result in signi cant costs when unstaffed positions create costly inef ciencies.
