HR PLANNING AND FORECASTING

Presented by:-

Nisha Chandan Kumar Krishna Kumar Kapilesh Kumar Pandey

HRP is a process by which management ensures the right number of people and right kind of people at right place, at right time doing the right things for which they are recruited and placed for the achievement of goals of the organization.

Objectives of HRP
Ensure adequate supply of manpower as and when required Ensure proper use of existing human resource in the

organization
Forecast future requirements of human resources with

different levels of skills

Anticipate the impact of technology on job and

requirements for human resources

Helps in raising productivity

Need for HRP

HRP helps in proper recruitment and selection so that

right type of people are available at various positions in the organizations

HRP also facilitates designing of training programmes for

the employees to develop the required skills in them

Required to meet the needs of expansion and

diversification in the organization

Benefits of HRP
Lower HR costs through better HR management More timely recruitment for anticipate HR needs Better development of managerial talent Improve the utilization of human resources Co-ordinate different HR programmes Future needs preparation Promotion in systematic manner

Four Phases of HR Planning

Situational Analysis/ Environmental Scanning Forecasting HR demand Assessment future HR needs HR supply analysis Assessment of current HR Action Planning or programme of action to fulfill future HR

needs

Forecasting the Demand for HR

Demand forecasting is the process of estimating the quantity and quality of people required to meet the future needs of the organization.

Forecasting Methods Delphi Technique Managerial Judgment Work study technique Ratio Trend Analysis

Delphi Technique
From a group of experts the personnel needs are estimated.

Managerial Judgment
Managers discuss and arrive at a figure of inflows and outflows which would cater to future labour demand. The technique may involve a bottom-up or top-down approach. This technique is used in smaller organization or those in companies where sufficient data base is not available.

Work study technique

This technique can be used when it is possible to apply work measurement to calculate the length of operation and amount of labour required.

Ratio- Trend Analysis

Studying past ratios, I;e No of workers Vs volume of sales, forecasting future ratios and adjusting for future changes in the organization. This is quickest forecasting technique.