Human Resource planning is a process of identifying current and future human resources needs for an organization to achieve its goals and strategic objective. It involves, but not limited to forecasting an organization's future demand and supply for different types of employees directly linked to its business needs. Implementation of gap analysis between future HR supply and future demand is taking place first. Strategies are then developed in order to minimize the gaps and may involve recruitment, internal staffing, development and training, and activities relating to rightsizing. Forecasting future needs implies proper understanding of the future business directions of the organization, so that the HR objectives can be appropriately identified. HR planning is conducted at the organization level or at a component level within the organization, but a key factor for success is to understand and link planning at any level to the to the strategic directions of a company.
Many professional HR managers specialized in industrial and organizational psychology work on activities focused on designing and implementing programs in recruitment, selection, training, etc., in order to realize organizational needs. Such activities generally involve elements of planning that are named as future-oriented.
We can identify the 4 major stages in HR planning, as following:
Stage 1: Evaluation of human resources within the company and understanding of their availability in the market
Stage 2: Estimating the currently employed manpower resources that are willing to be with the firm. Predict losses of current manpower at the end of forecasted period.
Stage 3: Assess and forecast of labor requirements during the forecast period, to achieve the company's objectives and goal.
Stage 4: Ensuring that the required human resources are available during and by the end of...