BU354 Chapter Notes - Chapter 5: Succession Planning, Job Analysis, Job Performance
Document Summary
Human resources planning: 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. Anticipates and influences an organization"s future by forecasting supply/demand for employees under changing conditions and by developing plans and activities to satisfy these needs. Effective hrp helps organization achieve strategic goals and objectives, achieve economies in hiring new workers, make major labour market demands more successfully, anticipate and avoid shortages/surpluses of hr, and control/reduce labour costs. Canada: as baby boomers begin to retire, there"s not enough candidates to fill vacant positions. Key steps in the f1rp includes analyzing forecasted labour supply, forecasting labour demands, and planning and implementing hr programs to balance supply and demand. Lack of or inadequate hrp = significant costs when unstaffed positions create costly inefficiencies and when severance pay is required for large numbers of employees being laid off.
