HRM200 Chapter Notes - Chapter 5: Succession Planning, Market Environment, Markov Chain

57 views9 pages

Document Summary

Human resources planning (hrp): the process of forecasting future human resources requirements to ensure that the organization will have the required number of employees with the necessary skill to meet its strategic objectives. Systemically forecasts the supply of and demand for employees under changing conditions and by developing plans and activities to satisfy these needs. Helps achieve its: strategic goals and objectives, achieve economies in hiring new workers, make major labour market demands more successfully, anticipate and avoid shortages and surpluses of human resources, control or reduce labour costs. Canada is in the beginning stages of a major labour shortage: baby boom generation begins to retire, not enough candidates to fill vacant positions. The greater concern is that ineffective hrp can lead to an organization"s inability to accomplish short-term operational plans or long-range strategic plans. Hrp must align with the overall goals of the organization as well as both the long-term and short-term strategic plans set by the organization.

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers
Class+
$8 USD/m
Billed $96 USD annually
Class+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
30 Verified Answers

Related Documents