ADMS 3430 Chapter Notes - Chapter 5: Market Environment, Longrun, Advantageous

• School: York University
• Department: Administrative Studies
• Course: ADMS 3430
• Professor: Len Karakowsky

Document Summary

What is hr forecasting: hr forecasting constitutes the heart of the hr planning process, can be defined as ascertaining the net requirement for personnel by determining the demand for supply of human resources now and in the future. Environmental scanning is an important step before forecasting can take place. Programs in such areas as training and development, career planning, recruiting, and selection, and managerial appraisal are all stimulated by means of the hr forecasting process. Hr forecasting: must give attention to benchmarking compensation schemes to meet or lead industry standards so as to attract and retain people who perform well in these categories. The relative balance of internal to external personnel to be selected for training courses is a key factor in the hr forecasting and programming operations of many organizations. Goal of hr forecasting is to obtain sufficient numbers of trained personnel who will be able to perform successfully in jobs when those jobs need to be filled.