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IMPORTANCE OF HRP
Defining future personnel needs Coping with changes Facilitating talent management Increasing investment in human resources Promotion of HRD activities
Wastage Analysis
Manpower wastage is an element of labor turnover. Wastage is severance from the organization including retirement, resignations, deaths and dismissals During induction marginal employees leave, during differential transit period an employee learns about the organization and identifies his role in it. While during the period of settled connection the employee decides to stay long.
Wastage decreases with increased skill and age of employees. Different methods of wastage analysis Labor turnover index= Number of employees leaving/ Average number of employees employed % Stability Index- number with more than 1year service now/total employed one year ago%
Cohort Analysis
Cohort is a homogenous group cohort analysis takes into account the length of service. Number remaining at a given time/ number engaged at the start % sometimes the number remaining is represented as the survival curve
Census Analysis
census analysis can be applied to a crosssection of the organization Data is required under three heads- the number of employees at the beginning of the census, the number of employees at the end of the census and the number of leavers during the census period