BU354 Chapter Notes - Chapter 4: Visible Minority, Performance Appraisal, Flextime
Document Summary
Human resources planning (hrp) is the process of forecasting future human resources requirements to ensure that the organization will have the required number of employees with the necessary skills to meet its strategic objectives. Forecasted shortage of 1m workers over the next 15 years. Steps in human resource planning forecasting demand for labour: considerations: organizational strategic plans; economic conditions; market trends; social concerns; demographic trends, etc. techniques utilized: trend analysis; ratio analysis; scatter plot; delphi technique; staffing tables; managerial judgement, etc. Internal analysis: skills inventories; replacement summaries; succession planning: external analysis: labour market conditions; occupational market conditions. It is clear that hrp and strategic planning become effective when a reciprocal and interdependent relationship exists between them. Determining how many people will be available to carry out the strategic goals of the organization as well as what skills they have is essential to the strategic planning process. The most successful organizations are prepared for change before it even occurs.