Human Resource Planning and Recruitment - HR planning process
3 important questions on Human Resource Planning and Recruitment - HR planning process
What is meant by forecasting as the first step of the HR planning process?
The attempt to determine the supply of and demand for various types of HR to predict areas within the organization where there will be future labor shortages or surplusses.
What are the available methods for forecasting in HR?
- Statistical methods - capturing historic trends and predict
- Judgemental methods - no historical precedent, so best guesses.
Most of the time a balanced approach between these is used.
What is used by HR managers to determine labor demand and supply?
- Labor demand:
- Leading indicator - an objective measure that accurately predicts future labor demand (historical precedents may not always be reliable)
- Labor supply:
- Internal labor supply - Analysis of how many people are currently in various job categories
- Transitional matrix - Matrix showing the proportion of employees in different job categories at different times
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