BU354 Chapter Notes - Chapter 5: Job Performance, Wrongful Dismissal, Markov Chain
Document Summary
The process of forecasting future human resources requirements to ensure that the organization will have the required number of employees with necessary skills. Proactive process which a(cid:374)ti(cid:272)ipates a(cid:374)d i(cid:374)flue(cid:374)(cid:272)es a(cid:374) o(cid:396)ga(cid:374)izatio(cid:374)"s futu(cid:396)e (cid:271)y systematically forecasting the supply of and demand for employees. Helps achieve strategic goals and objectives, avoid shortages and surpluses of human resources. Hrp must align with the overall goals of the organization long term and short term. Alig(cid:374)(cid:373)e(cid:374)t of hr pla(cid:374)(cid:374)i(cid:374)g to st(cid:396)ategi(cid:272) de(cid:272)isio(cid:374)s is esse(cid:374)tial to a(cid:374) o(cid:396)ga(cid:374)izatio(cid:374)"s su(cid:272)(cid:272)ess (ex. Grade 13 being abolished, grade 12 and 13 students going to post-secondary) Involves assessing factors that affect the external labour market as well as an o(cid:396)ga(cid:374)izatio(cid:374)"s a(cid:271)ility to fi(cid:374)d a(cid:374)d se(cid:272)u(cid:396)e tale(cid:374)t f(cid:396)o(cid:373) outside the o(cid:396)ga(cid:374)izatio(cid:374) A raise in the minimum wage can inflate the cost of labour in an organization: social concerns healthcare, childcare, and educational priorities (ex.
