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BUS 381 (65)
Chapter 4

Human Resources Chapter 4 –Textbook notes

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Business Administration
BUS 381
Melissa Mc Crae

HumanResourcesChapter4Textbook Human resources planning The process of analyzing and identifying the need for and availability of human resources to ensure that an organization will have the right number of employees with the right skills at the right times and in the right jobs to meet its strategic objectivesKey steps in HR planningForecasting demand for labourAnalyzing labour supplyPlanning and implementing HR programs to balance supply and demandEnvironmental scanning The monitoring of major external factors to identify threats that might affect and organizationQuantitative approaches to forecasting demandTrend analysis based on past employment levelsRatio analysis based on the ratio of employees to an indicator of business activityScatter plot and regression analysis using graphs of employees and a business activity indicatorComputer based simulation using mathematical formulae to calculate future HR needsQualitative approaches to forecasting demandNominal group technique where experts meet and make predictionsDelphi technique where experts in separate locations make predictions and share themManagerial judgementScenario planningForecasting internal HR supplyMarkov analysis statistical technique that predicts internal supply by determining the pattern of movement to and from jobs throughout an organizationSkillsmanagement inventories records summarizing employees education interests and skills
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