Human Resource Planning

Human Resource Planning

1. Process of forecasting a firm’s future demand for and supply of the right type of people in the right time.
2. Right number of people
3. Right kind of people, right place (position), location  and right time

Importance of Human Resource Planning:

1. Future Personnel Needs:
• Surplus or deficiency(shortage)
• Public sector (over staffed)
• VRS ( Voluntary Retirement Scheme)
2. Part of Strategic Planning:
• HR strategies aligned with organization strategies
• Strategic Planning = HR planning (no differences)
3. Creating Highly Talented Personnel:
• Prevent shortage
• Technological changes, retrained employees
• Redeploy employees after training
• Succession planning: who will replace retiring chief executive??
4. International strategies:
• International expansion strategies
• Culture, language, development
• Motivate and compensate them
5. Increasing investment in employee:
• Develop skills, training, job assignments
• Employees are used effectively throughout their career
6. Resistance to change and move :
• Plan before moving employee
7. Others:
• Labor cost may be less
• More time to locate talent
• Better opportunities for women and minorities