2.Annotated Outline Introduction

Topics: Human resource management, Human resources, Labour economics Pages: 11 (3011 words) Published: April 13, 2010
3.Objective The basic purpose of HRP is to decide what positions the organisation will have to fill and how to fill them. Objectives of human resource planning Forecast personnel requirements Cope with changes Use existing manpower productively Promote employees in a systematic way Human Resource Planning 4.Importance Organisations use HRP to meet future challenges, cut costs, and achieve greater effectiveness Importance of human resource planning Create a talent pool Prepare people for future Cope with organisational changes Cut costs Help succession planning Human Resource Planning 5.The Process Of HRP The HRP is a four step process: demand forecasting, supply forecasting, estimating manpower gaps and formulating HR plans. The demand for human resources is influenced by several factors Forecasting the demand for human resources External challenges Economic developments Political, legal, social, technological changes Competition Organisational decisions Workforce factors Human Resource Planning 6.The Process Of HRP External Challenges: Liberalisation, privatisation and globalisation (LPG era) have created huge demand for people in software, finance marketing, and manufacturing fields. Organisational Decisions: Decisions such as expansion, diversification, and relocation leading to demand for people possessing requisite skills Workforce Factors: Such as retirement, resignation, and termination etc creating manpower gaps. Human Resource Planning 7.Forecasting Techniques HR forecasts are an attempt to find out an organisation's future demand for employees Forecasting techniques Expert forecasts Trend analysis Workforce analysis Workload analysis Human Resource Planning 8.Forecasting techniques Expert Forecasts: These are based on the judgements of those who possess good knowledge of future human resource needs Trend Analysis: This is based on the assumption that the future is an extrapolation from the past. Human resource needs, as such, can be estimated by examining pas trends. An example of trend analysis 2001-02 Production of Units : 5,000 2002-03 No. of Workers : 100 Ratio : 100:5000 2003-04 Estimated Production : 8,000 No. of Workers required : 8000 × 100 = 160 5000 If supervisors have a span of 20 workers, 8 supervisors are also needed in 2003-04. Human Resource Planning 9.Forecasting techniques Workforce Analysis: All relevant factors in planning manpower flows in a firm such as transfers, promotions, new recruitments, retirement, resignation, dismissal etc are taken into account while estimating HR needs Manpower flows in a bank Promotions out Transfers In > > Job Hopping > Transfers Out > Retirement > VRS Scheme (Golden handshake) Recruits In > > Discharge or Dismissal > Terminations > Resignations Promotions In > > Retrenchment > Attractions in Other Banks, etc. Human Resource Planning 10.Forecasting techniques Workload analysis: Based on the planned output, a firm tires to calculate the number of persons required for various jobs. An example of workload analysis Planned output for the year 10,000 pieces Standard hours per piece 3 hours Planned hours required 30,000 hours Productive hours per person per year 1,000 hours (estimated on annual basis) (allowing for absenteeism, turnover, idle time etc.) No. of workers required 30 If span of control in the unit is 10 per officer, then 3 officers are also required. Human Resource Planning 11.Supply Forecasting A) Internal labour supply: a manpower inventory in terms of the size and quality of personnel available (their age, sex, education, training, experience, job performance, etc) is usually prepared by HR departments. Several techniques are used while ascertaining the internal supply of manpower (a supply of employees to fill projected vacancies can come from within the firm or from new hires ) Human Resource Planning 12.Estimated internal labour supply for a given firm Sources of Inflows The Firm Projected Outflows  Promotions  Transfers  Quits Current...
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