Human Resource Planning Process
Human Resource Planning Process
The ongoing process of systematic planning to achieve optimum use of an organization's most valuable asset - its human resources. The objective of human resource (HR) planning is to ensure the best fit between employees and jobs, while avoiding manpower shortages or surpluses. The three key elements of the HR planning process are forecasting labor demand, analyzing present labor supply, and balancing projected manpower demand and supply.
When a business becomes large enough, it must pay attention not only to the employees it needs to hire, but what kind of employees it is hiring and what skills it is giving them. Human resources planning is the strategy businesses use to link their vision, mission, and primary goals with the employees they hire for day-to-day processes. It involves both logistics and leadership skills.
A company may have all the financial resources it may need. But what if the manpower employed to manage the finances isn't well trained? Well, nothing more than your finances will be going down the drain. Most of the corporate frauds are a result of unethical and mismanaged processes. Improper human capital may create a numerical output, but not the desired one in terms of quality. Most of the time, the term human resource management is synonymously used with personnel management. However, the meaning is still the same. It involves, employing, developing, utilizing, managing and understanding the staff in an organization.
Importance of HRM:
Organizational Psychology holds that successful organizations do not owe their success solely to market realities and sustainable competitive advantages. Actually, there is a lot more. Successful companies are those that consider their human capital as their most important asset. Facts and figures are the quantitative elements of successful management, yet the qualitative, i.e. the cognitive aspects, are those that actually make or break an organization.
Since the
The ongoing process of systematic planning to achieve optimum use of an organization's most valuable asset - its human resources. The objective of human resource (HR) planning is to ensure the best fit between employees and jobs, while avoiding manpower shortages or surpluses. The three key elements of the HR planning process are forecasting labor demand, analyzing present labor supply, and balancing projected manpower demand and supply.
When a business becomes large enough, it must pay attention not only to the employees it needs to hire, but what kind of employees it is hiring and what skills it is giving them. Human resources planning is the strategy businesses use to link their vision, mission, and primary goals with the employees they hire for day-to-day processes. It involves both logistics and leadership skills.
A company may have all the financial resources it may need. But what if the manpower employed to manage the finances isn't well trained? Well, nothing more than your finances will be going down the drain. Most of the corporate frauds are a result of unethical and mismanaged processes. Improper human capital may create a numerical output, but not the desired one in terms of quality. Most of the time, the term human resource management is synonymously used with personnel management. However, the meaning is still the same. It involves, employing, developing, utilizing, managing and understanding the staff in an organization.
Importance of HRM:
Organizational Psychology holds that successful organizations do not owe their success solely to market realities and sustainable competitive advantages. Actually, there is a lot more. Successful companies are those that consider their human capital as their most important asset. Facts and figures are the quantitative elements of successful management, yet the qualitative, i.e. the cognitive aspects, are those that actually make or break an organization.
Since the