The Term Human Resources Planning

A demand for a commodity, service, etc. which is a consequence of the demand for something else. In respect to Strategic Human Resource Planning, derived demand applies specifically to labor. The demand for labor is derived from the demand for the goods and services that labor is used to produce. The demand for labor is also influenced by the level of economic activity and the relative cost of labor compared to capital.

Human resource departments today have a more distinct, calculated position within organizations, and human resource strategy influences the bottom line. “One of the challenges for HR leaders is convincing executive leadership teams that human capital is one of the most important resources in which the company can invest” (Mayhew, 2014, p.). Subsequently, “this return on investment is an essential part of the argument for including HR as part of an overall business strategy” (Mayhew, 2014, p.). Human resource departments utilize the information given to them from company executives and leaders, coupled with their respective expertise on all things personnel, and they plan and implement staffing concerns for the betterment of the organization. From preparing job analysis, to comparing inventory and forecasting, it is the responsibility of human resources to consider the objectives of an organization and fulfill those goals while operating the specific planning relative to HR.

The demand for products and service is important, if the demand for these change for a business it has a affect on human resources because it can affect the level of

Contemporary globalization of businesses and growing global market competition has made effective human resource planning as one of the major strategies to forge ahead and remain proactive. It can be said that an organization 's success lies to a great extent to the knowledge, skills, creativity, and dedication of its workforce. Every aspect of an organization needs human capital to drive its activities or operations to achieve individual strategic goals and objectives towards its purpose of existence, growth, and competitive status. Companies can compete at all levels of the marketplace through improved commitment not only through creativity, innovation, and research, but also human resource development (Truong, Heijden, & Rowley, 2010). In this regard, the human resource planning is needed to ensure a systematic analysis of human resource needs so that the right quantity and quality of employees are always available when required. Fundamentally, organizations are looking for the best people that would help drive them to their desired destination of achieving their missions. Therefore, it is important to develop human resource strategies to support organizational strategies, through measures such as forecasting human resource requirements, and effective strategic staffing. Technically, an organization 's mission, goals, and objectives drive its strategy and human resource (HR) and staffing strategy in an interactive manner. The purpose of this

Supply and demand is a fundamental element of economics; it is the main support system of a market economy. Demand can be interpreted by the quantity of a product or service a consumer is desired to acquire at a given time period. Quantity demanded is the amount of product consumers are willing to purchase at a given price; the relationship between price and quantity demanded is commonly known as the demand relationship. Supply however, accounts for how much a market produces for consumers. The quantity supplied refers to the actual amount of a certain good firms are willing to supply to consumers when receiving a certain price. Having limited resources we all have to

2. TAYLOR S, and WOODHAMS C – Studying Human Resource Management, (2012) page 104, London Chartered Institute of Personnel and Development

Demand refers to the quantity of products people are willing and able to purchase during some specific time period, all other relevant factors being held constant. Price and quantity demanded stand in a negative (inverse) relationship: as price rises, consumers buy fewer units; and as price falls, consumers buy more units (Stone 75).

Changes in demand factors other than price of the good will result in a change in demand. An increase in demand is depicted as a rightward shift of the demand curve. An increase in demand means that consumers plan to purchase more of the good at each possible price. A decrease in demand is depicted as a leftward shift of the demand curve. Income is another factor that can affect demand. If a good is a normal good, increases in income will result in an increase in demand while decreases in income will decrease demand. If a good is an inferior good, increases in income will result in a decrease in demand while decreases in income will increase demand. Other factors affecting supply include technology, the prices of inputs, and the prices of alternative goods that could be produced. An advance in technology, a decrease in the prices of inputs, or a decrease in the prices of alternative goods that could be produced will result in an increase in supply. A deterioration of technology, an increase in the prices of inputs, or an increase in the prices of alternative goods that could be produced will result in a decrease in

Define and explain the significance of the term ‘derived demand’ as it applies to Strategic Human Resources Planning. (5 marks)

This research paper focuses on the importance of developing an effective Strategic Human Capital Plan (SHCP) for government agencies, (Government Accountability Office, 2009). In order for the agency’s to address deficiencies in their workforce, they must incorporate a strategic method of aligning Human Resource (HR) with organizational goals, (Government Accountability Office, 2009). My research begins with addressing my own agency and identifying key elements in developing a SHCP that identifies with future organizational goals of the agency. The SHCP will outline required objectives, align goals and address deficiencies within the workforce for future sustainability, (U.S. Department of Homeland Security, 2015, p.2). Human capital planning

Human resource handle administrative functions in an organisation and Human resource planning expand strategies for relating the skills and size of manpower to enterprise needs. In simple words the planning system makes recruitment, gives training and restructures the staff requirement to meet the organisational goals and changes within the environment. Human resource planning is a paramount component of Human resource management.

There are several important reasons of human resource planning that business organisation carry out regardless their size and it is important for the continuity of any business organisation to plan. However, in many business owners may not include human resource planning at the beginning of their business but later realise the importance of human capital and no business can survive without having competitive human capital.

To work in the Human Resource management field you must maintain and improve the company by planning, implementing, and evaluating employee relations and human resource policies, programs, and practices. It is a challenging and yet rewarding field to work in. However, just like every business field, people who work in the human resource department face many challenges when it comes to discrimination.

In terms of my role within the Merseyside Sudanese Community as a general secretary, I have gained relevant experience in dealing with various individuals from different backgrounds. I was appointed to setup and organize a charitable organization to focus working with a professional team from the LVCS. I gained vital firsthand experience in the functions of organizational memberships, in which, I contributed in the writing the constitutions and organizational objectives, involving policies, and aspects of human resources. I wanted to furthermore develop my proficiency and understanding of human resources a management to enable and encourage myself to explore and carry on with the new career in this field once I complete my studies. I am

In this assignment I’ll be talking about Tesco’s Human Resource requirements and planning, which is completely different from my previous assignments about Tesco as they were for a different unit which mostly looked at Tesco’s annual numbers etc.