Human Resource Planning Overview

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@SportyTimpani9326

Study Notes

Human Resource Planning

Human Resource Planning (HRP) is the process of aligning an organization's current and future human resource needs with its goals.
HRP involves identifying and acquiring the necessary staff with the right skills, motivating them to achieve high performance, and creating links between business goals and resource planning activities.
HRP must be linked with an organization's strategic purpose and strategy.

Forecasting Workforce Demand

Forecasting workforce demand requires businesses to predict, with reasonable accuracy, the size of the workforce they will need.

Factors Affecting Workforce Demand

Demand for existing and new products and services.
Business disposals and product closures.
Introduction of new technology (e.g., new production equipment).
Cost reduction programs.
Changes to the organizational structure.
Business acquisitions, joint ventures, and strategic partnerships.

HR Planning Process

Reviewing Business Goals: Analyzing the organisation's current and future goals, and how they might impact the workforce.
Scanning the Environment: Understanding external factors that could impact the organization, such as market trends and competition.
Identifying the Gaps: Comparing the current workforce with the future needs determined by the business goals.
Developing the Plan: Outlining the HR strategies and actions to address the identified talent gaps.
Measuring Progress: Tracking the progress of the HR plan and making adjustments as needed.

Description

This quiz covers the fundamentals of Human Resource Planning (HRP) and its significance in aligning workforce needs with business goals. It also explores factors affecting workforce demand and the HR planning process. Test your understanding of how strategic management intersects with HR functions.