HRM 360
Prepared For: Fatema Azad(FTA)
Subject: Choose An industry And Explain why it Is important To Forecast External/internal Supply of Human Resources?
This easy will describe why it is important for an industry to forecast internal/external supply of human resources (HR). Organization find out wheather they have number of people with required number of knowledge , abilities and skill by HR planning. HR planning helps a organization to achieve its strategic goals it also hels to achieve its short term and long term goals.
HR planning second step is to forecast the firms demand for firms demand for labor and the supply of human resources. HR collect their those information from external environmental scanning and assessment of internal strengths and weaknesses is used to predict or forecast HR supply and demand in light of organizational objectives and strategies. Forecasting uses information from the past and present to identify expected future conditions, Management needs to estimate future labor availabilities and needs that is to assess the supply of labor from within or outside the organization.HR needs to determine the future demand of labor and types of employees. Supply and demand analysis should be conducted separately. Reasons for is that internal supply forecast tend to rely heavily on organization specific.such as turnover and retirement , transfer and promotion. Demand forecast on the other hand, depend primarily on variations in external factors. In sum to forecasts of human resource supply, demand forecasts are beset with multiple uncertainties in consumer behavior, in technology, in general economic environment, and so.
Forecast HR supply internally and externally both are important for an industry. How and where will we get people to fill and vacate jobs, can be answered by forecasting HR supply . By forecasting labor supply internally , firms can find out its internal talent. One judgement technique used to
Subject: Choose An industry And Explain why it Is important To Forecast External/internal Supply of Human Resources?
This easy will describe why it is important for an industry to forecast internal/external supply of human resources (HR). Organization find out wheather they have number of people with required number of knowledge , abilities and skill by HR planning. HR planning helps a organization to achieve its strategic goals it also hels to achieve its short term and long term goals.
HR planning second step is to forecast the firms demand for firms demand for labor and the supply of human resources. HR collect their those information from external environmental scanning and assessment of internal strengths and weaknesses is used to predict or forecast HR supply and demand in light of organizational objectives and strategies. Forecasting uses information from the past and present to identify expected future conditions, Management needs to estimate future labor availabilities and needs that is to assess the supply of labor from within or outside the organization.HR needs to determine the future demand of labor and types of employees. Supply and demand analysis should be conducted separately. Reasons for is that internal supply forecast tend to rely heavily on organization specific.such as turnover and retirement , transfer and promotion. Demand forecast on the other hand, depend primarily on variations in external factors. In sum to forecasts of human resource supply, demand forecasts are beset with multiple uncertainties in consumer behavior, in technology, in general economic environment, and so.
Forecast HR supply internally and externally both are important for an industry. How and where will we get people to fill and vacate jobs, can be answered by forecasting HR supply . By forecasting labor supply internally , firms can find out its internal talent. One judgement technique used to
References: 1.http://www.areadevelopment.com/automotive/2013-auto-aero-site-guide/auto-sector-skilled-workforce-needs-29292741.shtml 2.http://world.honda.com/csr/employee/education/ 3. http://www/selectinternational.com/blog/bid/112229/4-hr-practices-of-toyota-culture 4.http://bloghresources.blogspot.com/2010/02/forecasting.html 5. 6.http://cpanel.petra.ac.id