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    HR

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    niranjana
    This document discusses HR forecasting. It outlines the types of HR forecasting activities including event-based, transaction-based, and process-based forecasting. It also discusses the benefits of HR forecasting, personnel involved, and factors that impact forecasting like organizational and environmental variables. The document then examines the stages of determining HR demand, types of forecasts, and the process of developing HR plans to address deficits or surpluses.

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    HR

    Uploaded by

    niranjana
    356 views15 pages
    This document discusses HR forecasting. It outlines the types of HR forecasting activities including event-based, transaction-based, and process-based forecasting. It also discusses the benefits of HR forecasting, personnel involved, and factors that impact forecasting like organizational and environmental variables. The document then examines the stages of determining HR demand, types of forecasts, and the process of developing HR plans to address deficits or surpluses.

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    Forecasting

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    This document discusses HR forecasting. It outlines the types of HR forecasting activities including event-based, transaction-based, and process-based forecasting. It also discusses the benefits of HR forecasting, personnel involved, and factors that impact forecasting like organizational and environmental variables. The document then examines the stages of determining HR demand, types of forecasts, and the process of developing HR plans to address deficits or surpluses.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    356 views15 pages

    HR

    Uploaded by

    niranjana
    This document discusses HR forecasting. It outlines the types of HR forecasting activities including event-based, transaction-based, and process-based forecasting. It also discusses the benefits of HR forecasting, personnel involved, and factors that impact forecasting like organizational and environmental variables. The document then examines the stages of determining HR demand, types of forecasts, and the process of developing HR plans to address deficits or surpluses.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 15

    HR FORECASTING

    Types of HR forecasting activity Benefits of HR forecasting activity Personnel involved in HR forecasting activity Impact of environmental and organisational variables on HR forecasting activity Identify various stages in determining HR demand Policy & programme implementation of an HR deficit or HR surplus

    Types of HR forecasting activity


    Event Based

    Forecasting Activity
    Transaction Based Process Based

    Types of HR forecasting activity


    Event based- Forecasting concerned with changes in external environment Transaction based-Forecasting concerned with changes in internal environment Process based- Forecasting based on the flow or sequencing of several work activities

    Benefits of HR forecasting activity


    Reduces HR costs by curtailing last minute crisis Increases flexibility by giving more viable options Ensures a close linkage to macro business forecasting process Helps in concentrating on the organisational goals rather than contingency planning

    Personnel involved in HR forecasting activity

    Specialist

    Managers/ Executive

    Recruits

    Designated group

    Organisational Factors
    Corporate mission statements Operational goals, production budgets HR policies Organisational Structure, restructuring, mergers Worker KSA/ competencies HRMS level of development Organisational culture, workforce climate and satisfaction Job analysis

    External /Environmental Factors


    Economic situation Labour market and unions Governmental laws and regulations Industry and Product life cycle Technological changes Competitor labour usage Global market for skilled labour Demographic changes

    Types of forecast
    Up to 1 year

    Current
    1 2 years

    Short Run
    2 5 years

    Medium Run
    More than 5 years

    Long Run

    Outcome Of Forecast
    Prediction A single numerical estimate of HR requirements associated with a specific time horizon and set of assumption. Projection It incorporates several HR estimates based on variety of assumption

    HR Forecasting Process
    Identify organisational goals, objectives and plans Determine HR Demand Ascertain HR Supply Determine the net HR requirements

    Develop HR plans and programs to ensure that the right people are in the right place

    Determine HR Demand
    Requirements of personnel by each subunit
    These subunits are to be aggregated Planned future changes to be incorporated Replace non productive paid time State net HR demand State final cost estimate

    Ascertain HR Supply
    Two supply options-

    Internal Supply
    Current members of workforce who can be retained, promoted, transferred etc to fill anticipated HR requirements

    External Supply
    Potential employees who are currently undergoing training

    Determine net HR requirement


    HR demand = external supply+ internal supply or, HR demand- internal supply = external supply Where, External supply requirement = replacement +change supply Where, Replacement supply =hiring to replace all normal losses Change supply = hiring to increase (or decrease) the overall staffing level Thus, External supply = Current workforce size x (replacement % per year + change % per year )

    Develop HR plans and programs to ensure that the right people are in the right place
    When a forecast of HR demand is reconciled with the current workforce supply of personnel the result is net HR requirement. Disparity results intoHR deficit= HR demand >HR internal supply HR surplus= HR demand <HR internal supply

    Remedial action for HR deficit and HR surplus


    HR deficit oRecruitment oLaid off workers oRetired employees oTemporary workers HR surplus oLay off oTerminate employees with old skill set oJob sharing with less pay oReducing no. of shifts or hours oAttrition oHiring freeze oEarly retirement packages

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