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Chapter 5

Chapter 5 Notes

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University of Guelph
BUS 3000
Nita Chhinzer

CHAPTER 5HUMAN RESOURCES PLANNING HRPRequired Professional Capabilities RPC y Maintains an inventory of HR talent for the use of the organization identifies the organizations staffing needs y Researches analyzes and reports on potential people issues affecting the organizationHR PlanningThe process of forecasting future HR requirements to ensure that the organization will have the required number of employees with the necessary skills to meet its strategic objectives o Proactive processanticipates and influences an organizations future by systematically forecasting the demand for and supply of employees under changing conditionsdeveloping plansactivities to satisfy these needs o Accomplishes goalsobjectives achieve economies in hiring new workers make labour market demands anticipateavoid shortages of HR controlreduce labour costs keeps costs lowHRP and strategic planning become effective when a reciprocal and interdependent relationship exists between themHR Planning Model page 119 Step 1 FORECAST DEMAND FOR LABOUR Considerations organizational strategictactic plans economic conditions Techniques utilizedtrend analysis ratio analysis scatter plot regression analysis Step 2 ANALYZE SUPPLEInternal Analysis Markov analysis skills inventories management inventoriesExternal Analysis general economic conditions labour market conditions Step 3 IMPLEMENT HR RESOURCES PROGRAMS TO BALANCE SUPPLY AND DEMANDLabour Shortage overtime hire temporary employees subcontract workLabour Surplus hiring freeze job sharing part time work terminationImportance Of Environmental ScanningCritical component of HRP and strategic planningExternal environmental factors most frequently monitored o Economic conditions general regional and localAffect supply and demand for products and services which in turn affects supply and demand of labourof and types of workers o Market and competitive trends o Newrevised laws and the decisions of courts and quasijudicial bodies o Social concerns related to health care childcare and educational priorities o Technological changes o Demographic trendsFor every 13 people that leave the workforce only 10 will enter by 2026 o Severe labour shortage from baby boomers retiring
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