HRM 3430 Chapter Notes - Chapter 7: Nominal Group Technique, Delphi Method, Demand Forecasting

• School: York University
• Department: Human Resources Management
• Course: HRM 3430
• Professor: Gordon Qi Wang

Document Summary

There are five methods for determining hr demand: Index/trend analysis: regression analysis, envelope/scenario forecasting, delphi technique, nominal group technique. Index/trend analysis: demand for labour = number of employees in workforce. Once the business index is selected, it is important to record the quantitative or numerical levels of the index over time. Data from at least the past four or five year is necessary. Preferably data from the past decade or more should be used: track the workforce size over time. Employee requirement ratio = operational index/demand for labour. This is done for each year to describe the relationship between the two variables over time: calculate the forecasted demand for labour. Divide the annual forecast for the business index by the average employee requirement ratio for each future year to get the forecasted annual demand for labour. There are six steps associated with using the delphi technique for hr demand forecasting: define and refine the issue or question.