Textbook Notes (369,082)
Canada (162,376)
BUS 381 (65)
Chapter 5

Chapter 5: Human Resources Planning

11 Pages

Business Administration
Course Code
BUS 381
Rick Iverson

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Chapter 5 Human Resources PlanningThe Strategic Importance of Human Resources PlanningHuman Resources Planningreviewing HR requirements to ensure organization has reqd number of employees with necessary skills to meet its goalsHRP and strategic planning are effective when a reciprocalinterdependent relationship exists between themStep 1 Forecasting Future Human Resources Needs DemandsQuantitative MethodsoTrend analysisstudy firms past employment leveloRatio analysisforecasting technique to determine future staff needs by using ratios between some causal factor eg sales volume and number of employees neededoScatter plotused to determine whether a measure of business activity and staffing levels are relatedoRegression analysisuses mathematical formula to project future demands based on established relationship between employment level and some measurable factor of outputQualitative MethodsoNominal Group Techniquedecisionmaking technique where group of experts meet facetoface and generate ideas independently go around and present each idea clarifydiscussevaluate ideas and then rank privatelyoThe Delphi Techniquetypically involves outside experts as well as employees ideas are generated and exchanged anonymously and then each individual uses feedback from other experts to finetune his own assessment process is repeated until a consensus is reachedoManagerial judgmentStaffing tablerepresentation of all jobs within the organization along w number of current incumbents and future requirements for eachStep 2 Forecasting the Availability of Internal and External CandidatesTwo sources of supplyoInternalpresent employees can be transferredpromoted to meet needsoExternalincludes those employed elsewhere or are unemployedStrategies to Forecast Supply of Internal CandidatesoMarkov Analysistracking pattern of employee movements through various jobs and developing a transitional probability matrixoSkillsInventories and Management InventoriesSkills Inventoriesrecords summarizing employees education experience interests skills etcManagementInventoriessummaries of the qualifications interests and skills of management employees including numbertypes of employees supervised duties of such employees total budget managed previous managerial duties and managerial training receivedoReplacement Charts and Replacement SummariesReplacement chartsvisual representations of who will be replacing whom in the event of a job opening Lists likely internal candidates and relevant info age present performance rating and promotionability statusReplacement summarieslists of likely replacements for each position including relative strengthsweaknesses current position performance promotability age and experienceoSuccession Planning process of ensuring suitable supply of successors for currentfuture seniorkey jobsStrategies to Forecast Supply of External CandidatesoGeneral Economic Conditionseg national unemployment rateoNational Labour Market ConditionsSupply of labour in Canada will start to shrink as baby boomers retireoLocal Labour Market Conditionseg community growth rates and attitudesoOccupational Market ConditionsAnalysis of labour supply within a specific occupationStep 3 Planning and Implementing HR Programs to Balance Supply and DemandLabour surplusinternal supply of employeesorganizations demandoHiring freezeopenings filled by reassigning employees no outside hiringoAttritionnormal separation of employees through resignation retirement or deathoEarly retirement buyout programstrategy used to accelerate attrition by offering buyout packages or the opportunity to retire on full pension with benefitsoJob sharingreduce number of hours worked by dividing one positions duties between 2 employeesoWork sharingwork 34 daysweek and receive EI benefits on nonwork daysoReduced workweekemployees work fewer hours and receive less payoLayoffstemporary withdrawal of employment for economicbusiness reasonsoSupplemental Unemployment Benefits SUBstopup of EI benefits to bring income closer to what employee would receive on the job for laid off workersoTerminationpermanent separation from organization for any reasonoSeverance packagelumpsum payment continuation of benefits for a specified time etc provided to employees terminated through no fault of their ownoSurvivor sicknessnegative emotions experienced by employees who remain after major restructuringcan include feelings of
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