Lecture 9 HR Planning Flashcards
What is HR Management
The study of the policies, practices, and systems that influence employees’ behavior, attitudes, and
performance
Human Resource Planning
Identifying the number and types of employees
the organization will require to meet its objectives
- Seeks to have the right talent in the right place at the right time capable of effectively and efficiently completing the tasks
needed to help the organization achieve its strategic objectives
What is the goal of forecasting
to predict which areas of the organization will experience labor shortages or surpluses
Forecasting
The attempts to determine the supply of
and demand for various types of human resources to predict areas within the organization where there will be labor shortages or surpluses
Forecasting steps
- Forecast labor demand
- Determine labor supply
- Determine labor surplus or shortage
Determining Labor Demand
- Derived from product/service demanded
- External in nature
Determining Labor Supply
- Internal movements caused by transfers, promotions,
turnover, retirements, etc. - Transitional matrices identify employee movements over time
Determining Labor Surplus or Shortage
- Labor demand > labor supply? Likely a labor shortage
- Labor demand < labor supply? Likely a labor surplus
Trend Analysis
Statistical models used to predict labor demand for next year based on previous years (these objective measures used in predictions are termed leading indicators)
Managerial Judgements
Important to include subjective assessment as
wel.
Transitional Matrix
Chart that lists job categories held in one period and
shows proportion of employees in each of these job categories in future period
How to Deal with Surplus
- pay reduction
- transfers
- work sharing
- early retirement
- demotions
- downsizing
Downsizing
Planned elimination of large numbers of
personnel
Dealing with shortages
- technology innovation
- new external hires
- turnover reductions
- temporary workers
- outsourcing
- overtime and expanding hours
Outsourcing
Contracting with another organization to perform a broad set of services
