Forecasting Hr Needs

2196 Words Mar 8th, 2010 9 Pages

Matching human resources with the present and the future is one of the main problems faced by an organization. Human resources have a certain degree of inflexibility, both in terms of their development and their utilization. It takes months to recruit to select to place, and to train the average employee. In the case of upper management personnel in the organizations, the process may take up to years to nurture the candidate and making sure of the succession are being put in place. Making decisions on recruitment and development are strategic and will produce long-lasting results given the right people are being chosen. Therefore, the management must forecast
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This information typically includes a brief |
| |assessment of performance and potential, age, length of time served in the current position, and|
| |overall length of service in the organization. |
|Allocation Planning |This technique involves judgments about labor supply and demand by observing the movement of |
| |employees through positions at the same organizational level. |

(Duane, 1996: 4).

Quantitative Forecasting Techniques
There are several quantitative methods for determining labor supply and demand

| |Technique Description |
|Regression Model |Fluctuations in labor levels are projected using relevant variables, such as sales. |
|Time-Series Model |Fluctuations in labor levels are projected by isolating trend, seasonal, cyclical, and irregular|
| |effects. |

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