Hr Planning

Topics: Human resource management, Labour economics, Job interview Pages: 2 (592 words) Published: January 11, 2013
THE IMPORTANCEOF HR PALNNING IN THE INSURANCE ORGANISATION

HUMAN RESOURCE PLANNING is defined as the ongoing process of systematic planning to achieve optimum use of an organization's most valuable asset - its human resources. The objective of human resource (HR) planning is to ensure the best fit between employees and jobs, while avoiding manpower shortages or surpluses. The three key elements of the HR planning process are forecasting labour demand, analyzing present labour supply, and balancing projected labour demand and supply.

The planning processes of organizations not only define what will be accomplished within a given timeframe, but also the numbers and types of human resources that will be needed to achieve the defined business goals (e.g., number of human resources; the required competencies; when the resources will be needed; etc.). Competency-based management supports the integration of human resources planning with business planning by allowing organizations to assess the current human resource capacity based on their competencies against the capacity needed to achieve the vision, mission and business goals of the organization. Targeted human resource strategies, plans and programs to address gaps (e.g., hiring / staffing; learning; career development; succession management; etc.) are then designed, developed and implemented to close the gaps. These strategies and programs are monitored and evaluated on a regular basis to ensure that they are moving the organizations in the desired direction, including closing employee competency gaps, and corrections are made as needed. 

In the case given RAM NARAYAN (HR Manager of the LMW Insurance company)crucially planned everything effectively He focussed on
1) JOB DESCRIPTION –he planned to incorporate human competencies into business planning models. 2) RECRUITMENT -Since recruiting personals is a complex job so he planned this in a full time...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Human Resource Planning Assignment Research Paper
  • Essay about Limitations to Hr Planning
  • What Is Human Resource Planning and How Does It Contribute to Achieving an Organisations Goals Essay
  • Hr Strategic Hr Planning Essay
  • Hr Planning Essay
  • Essay on Career Planning Is the Key of Employee Retention
  • Limitations to Hr Planning Essay
  • Steps in the Human Resource Planning Process Essay

Become a StudyMode Member

Sign Up - It's Free