Premium Essay

What Is Hrp

In:

Submitted By SWETAPANDEY
Words 293
Pages 2
Format for PPT * What is forecasting? Eg * Need for HRf? * Type of forecasting techniques * RTM, Eg * Relation with methods * Popularity * Usage * Steps involved for calculating (Theory) * Eg (practical)
What is Forecasting? * Process of estimating the future requirement of human resources of right quality and right quantity on the basis of past information. * The estimation is subject to error. * HR forecasting done over three planning periods: short range, intermediate range and long range. * Main emphasis of HR forecasting: HR demand & HR supply * Example Year | Sales (In Millions) | FY 93 | 0.75 | FY 94 | 1.55 | FY 95 | 2.35 | FY 96 | 2.22 | FY 97 | 2.38 | FY 98 | 2.54 | FY 99 | 2.37 | FY 00 | 2.55 | FY 01 | 2.67 | FY 02 | 2.89 | FY 03 | 3.11 | FY 04 | 2.94 | FY 05 | 2.81 | FY 06 | 2.72 | FY 07 | 3.01 | FY 08 | 3.35 | FY 09 | 3.42 | FY 10 | 3.51 | FY 11 | 3.62 |

Types of Forecasting Techniques:
Qualitative: Delphi Method, Market Research, Product Life Cycle Analogy, and Expert Judgment
Quantitative:
* Time Series: Average, Trend, Seasonal Influence, Cyclical Movement, Random Error, Exponential Smoothing Method, Multiplicative Seasonal Method, * Casual Forecasting: Regression Analysis, Econometric Models, Input-Output Models, Simulation Modelling
What is ratio Trend Analysis?
Quickest forecasting technique
Involves studying past ratios and forecasting future ratio
Example: No. of workers and sales in a company

2005 | 2252 | 13.32 | 169.0690691 | 2006 | 2514 | 10.13 | 248.1737414 | 2007 | 2836 | 8.34 | 340.0479616 | 2008 | 3207 | 11.02 | 291.0163339 | 2009 | 3514 | 12.14 | 289.4563427 | 2010 | 3649 | 12.14 | 300.5766063 | 2011 | 3681 | 13.54 | 271.8611521 | 2012 | 4096 | 13.54 | 302.5110783 | 2013 | 4184 | 13.54 | 309.0103397

Similar Documents

Premium Essay

Human Resource Planning

...to get the right number of people with the right skills, experience and competencies in the right jobs at the right time at the right cost. The process by which management ensures that it has the right personnel, who are capable of completing those tasks that help the organization reach its objectives. [pic] Meaning and Definition: In simple words, HRP is understood as the process of forecasting an organization's future demand for and supply of, the right type of people in the right number. It is only after this that the HRM department can initiate the recruitment and selection process. HRP is a sub-system in the total organizational planning. Organizational planning includes managerial activities that set the company's objectives for the future and determine the appropriate means for achieving those objectives. HRP facilitates the realization of the company's objectives by providing the right type and the right number of personnel. HRP, then, is like materials planning that estimates the type and quantity of the materials and supplies needed to facilitate the manufacturing activities of the organization. HRP is variously called manpower planning, personnel planning or employment...

Words: 3781 - Pages: 16

Free Essay

Hr Planning

...complexity of predicting the labour market has led many to take the view that forecasting is neither useful nor necessary (Taylor 2010). Forecasting is a key aspect of Human Resource Planning (HRP); which can be a complex process especially during periods of economic uncertainty and fluctuation. This intensifies the pressures between the need for planning and the difficulties of prediction. Nevertheless, the fundamental purpose is simple: HRP is concerned with assessing and meeting an organisation’s current and future workforce needs. This ensures the right number of people with the appropriate skills and competencies are in the right jobs at the right time and at the right cost so as to achieve organisational objectives (Foot and Hook 2005). In presenting a balanced view, this essay will analyse the argument for and against HRP in determining if it is unfeasible for organisations to accurately forecast the demand for and supply of labour. Furthermore, how HRP can inform other Human Resource (HR) activities such as recruitment and selection (R&S), succession planning, performance management and training and development amongst others. Specific reference where appropriate will be demonstrated to showcase links between theoretical and practical context. Forecasting as a key element of HRP As organisations continue to evolve and become more dynamic, it can be argued that effective planning of its most important resource (its workforce) in achieving strategic goals has never...

Words: 2437 - Pages: 10

Premium Essay

Why Strategic Human Resource Management Is Important for an Organizarion

...take place in the early stage of a corporate planning to make it SHRM. It is not about fixing employment problem in middle of organization’s operation. It is integrated with corporate strategy so that organization can have the right people at the right place at the right time(Van Donk, 2001). For example, Ann was struggling about the appraisal system because she was not aware of it while she joined KCS. Finally, authority and HR managers must have a channel for communication. Effectively HR managers will assess the role of a employee to achieve organizational goals. If senior management does not listen to HR managers, employees they will be hiring will not be able to help in organizational mission and vision. For instance, KCS did not plan what they will be doing with Ann for future; instead they employed Ann as their client base got increased. Assessing the purpose of SHRM (AC 1.2)\ Firstly, as discussed earlier, only a committed workforce is not enough to achieve competitive advantage. Ann should have gone through some training process either by Ted or by a professional cleaning trainer. As, Ann’s employment was not strategized, now...

Words: 2104 - Pages: 9

Premium Essay

Human Resource Planning

...2 3 3.1 3.2 4 4.1 PARTICULARS CHAPTER 1: INTRODUCTION TO HRP OBJECTIVES, NEED & IMPORTANCE OF HRP EVOLUTION OF HRP CONTEMPORARY APPROACH TO HRP CHAPTER 2: HRP PROCESS DEVELOPING A HR PLAN ADVANTAGES AND DISDVANTAGES OF HRP CHAPTER 3: INTERNAL FACTORS AFFECTING HRP EXTERNAL FACTORS AFFECTING HRP IMPACT OF TECHNOLOGY ON HRP CHAPTER 4: A SCOTTISH POWER CASE STUDYINTRODUCTION FACTORS AFFECTING WORKFORCE PLANNING AT SCOTTISH POWER 4.2 SCOTTISH POWER’S RESPONSE TO WORKFORCE CHALLENGES 4.3 4.4 EMPLOYEE CASE STUDY CONCLUSION CONCLUSION BIBLIOGRAPHY 37 39 40 41 34 Page No. 1 4 7 8 11 15 17 21 26 29 31 33 CHAPTER 1 INTRODUCTION TO HUMAN RESOURCE PLANNING Human resource planning (HRP) is the first step in the Human Resource Management (HRM) process. The real HRM process starts with the number and kind of people required by the organization for the coming period. HRP is also known by other names such as “Manpower planning”, “Employment planning”, “Labor Planning”, “Personnel Planning” etc. HRP is a sub-system in the total organizational planning. In other words, HRP is derived from the organizational planning just like production planning, sales planning, material planning etc. Planning the right man for right job and developing him into effective team member is an important function of every manager. It is because HR is an important corporate asset and performance of organizations depends upon the way it is put in use. HRP is a deliberate strategy for acquisition, improvement and...

Words: 12141 - Pages: 49

Premium Essay

Hershey Company Strategic Management

...HR Planning and Staffing: How are they connected? We hear the statement: “HR Planning is the foundation of staffing under the new PSEA”. But what does this mean and how do we make it happen? Background HR planning is a generic term that can have many different meanings. For the purposes of this discussion, we mean the following: HR planning is a process that identifies current and future human resources needs for an organization to achieve its goals. It means forecasting an organization’s future demand and supply for employees, based on its business needs; and subsequently developing and employing the strategies required to meet these needs. It involves a gap analysis between current HR supply and future demand. Strategies are then developed to address the gap and may involve recruitment, internal staffing, development, training, contracting and partnering, and activities relating to downsizing. “Forecasting future needs” implies understanding the future business directions of the organization so that the HR needs can be appropriately identified. HR planning can be conducted at the organization level or at any component level but a key to success is always understanding and linking to business direction. HR Planning always starts with understanding the business needs of the organization. There may also be a need to further develop and refine plans for the strategies that are going to be employed and this may result in separate, or integrated, staffing plans, training plans etc...

Words: 2101 - Pages: 9

Premium Essay

Human Resource Change Management

...current organizational growth a Human Resource Plan (HRP) is needed. This plan must provide the mission of the HR department and detail the functions to provide a clear understanding of HR’s role and ensure alignment with the organizations strategic plan and goals. The organization will only experience long-term successfulness when the right people are in the appropriate positions at just the right time; the strategies for achieving the organizational objectives should revolve around having the right balance of talent, skills, and the aspiration to accomplish organizational objectives in a significant manner (Byars & Rue, 2008). HR Functions and Challenges Challenges that the HR department will encounter consist of finding a candidate pool large enough to fill the 50 vacant positions, finding potential employees that have the skills, qualifications and experience. Other challenges that exist are the implementation steps to develop a HRP in alignment with the organizational strategic plan and goals. With the organization looking to fill 50 positions the functions of the HR department must be clearly defined; this can be accomplished by developing the HRP. There are steps that must be taken to implement the HRP they include: • Determine organizational objectives • Determine Skills and expertise needed • Determine additional human resource requirements • Develop action plans • Synthesize the HRP process (Byars & Rue, 2008) HR is expected...

Words: 954 - Pages: 4

Premium Essay

It 205 Week 8 Assignment

...customer relationship management (CRM). The hardware replacement project (HRP) for this extension includes five major variables. These variables are: time, costs, scope, quality, and risk. The issues that affect project risks need to be explained, and I can deliver ways to complete this project with the least amount of necessary risk. In my writing, I will show the best way to ready for and supervise the HRP. Project Management These are project management activities: task assignment, progress reports, risk assessment, work organization, action directions, planning work, examining the consequences, anticipating the necessary resources to finish the work, supervising project implementation, and gaining access to material and human resources. The hardware replacement project (HRP) is mostly affected by five variables. These variables are the following: quality, costs, time, scope, and risk (Lauden and Lauden, 2009). Quality Quality is deciding the results after the project has been finished, more importantly how happy the company is with it. If the final results assist in improving performance and decision-making, it is clear that the information systems project is quality made. When the system is installed, the quality is affected by variables like how user-friendly it is, how useful the data that it produces is, and accuracy. All of these examples identify with the HRP. Costs The cost establishes how long the project takes to finish and...

Words: 1068 - Pages: 5

Premium Essay

Could Poverty Be a Violation of Human Rights?

... Introduction In this essay I argue that poverty could be, and sometimes is, a violation of human rights. But what counts as a ‘violation’? After sorting out terminology (section 1), I distinguish three ways in which impoverishment could be a human rights violation (section 2). When an agent deliberately acts to impoverish someone, the resulting impoverishment, indisputably, is a violation of human rights. In contrast, when an agent merely omits to aid someone who is impoverished, it is deeply implausible that the impoverishment constitutes a violation of human rights. But there is a third, controversial class of cases, at the border of the acts/omissions distinction: where an agent, such as a state, negligently allows people to fall into or remain in poverty. Whether this counts as a violation of human rights is the principal subject of this essay, and requires for its resolution a discussion of the major philosophical conceptions of human rights. I consider the ‘standard’ account (section 3) and the ‘pragmatic’ account (section 4) of human rights. The former interprets human rights as fundamental moral rights; the latter interprets human rights in light of the function of actual human rights practice. I argue that both fail as philosophical accounts of human rights, and thereby fail to justify the human right to freedom from poverty (henceforth ‘HRP’): the standard account is unacceptably partisan to one controversial moral theory; the pragmatic account fails to...

Words: 5139 - Pages: 21

Premium Essay

Human Resources Planning

...Human Resource Planning Definition * HRP is the process for identifying an organizations current and future human resource requirements, developing and implementing plans to meet these requirements, and monitoring their overall effectiveness. * HRP is putting right number of people with right skills at right place at right time to implement organizational strategies in order to achieve organizational objectives. * Planning is critical to strategy because it identifies gaps in capabilities which would prevent successful implementation Perspective of Human Resource Planning * MACRO HRP * Assessing & forecasting demand for & availability of skills at national / global level * Predict the kinds of skills that will be required in future & compare these with what is / will be available in the country * MICRO HRP * Process of forecasting demand for & supply of HR for specific organization * HRP Process - Determination of Quantity of Personnel Organisational Objectives HR Programming HR Needs Forecast HR Supply Forecast HRP Implementation Control & Evaluation Surplus - Restricted Hiring, Lay Off, VRS, Reduced Hours Shortage - Recruitment & Selection * Organizational Objectives & Policies involves: * Downsizing / Expansion * Acquisition / Merger / Sell-out * Technology upgrade/ Automation * New Markets & New Products * External Vs Internal hiring * Training...

Words: 2701 - Pages: 11

Premium Essay

Human Resource Practise Efficiency Impact of Implementation Hrms in Tenaga Nasional Berhad (Tnb)

...HUMAN RESOURCE PRACTISE EFFICIENCY IMPACT OF IMPLEMENTATION HRMS IN TENAGA NASIONAL BERHAD (TNB) -THE CASE STUDY- Abstract Although there is no official link connecting organizational performance and HR practices, there is still that link. It does not matter the lack of a physical connection, so as long as the connection does exist. Firstly, managing people the right way helps any organization achieve improved performance over time. When organizations manage their people well, the organization's performance itself will also improve over time. But if organization wants a more tangible basis for measuring HR performance and efficiency, then here are some commonly used metrics for that purpose. HR management starts with selection and recruitment. When a company has vacant positions, it will look for applicants for that position, in the hopes of finding the best one to suit the job. The measurement dimension to look out for here then is the level of sophistication that the processes of recruitment are at. Are the selection and application processes up to par? Do they come with appropriate psychometric tests? Does the department make use of clear criteria when it comes to selecting qualified people from its pool of applicants? Are the interviews as structured as they should be? The next process to look into is induction and training. Induction is the process of officially introducing newly hired employees into the company or the organization. Metrics here would still pertain...

Words: 7392 - Pages: 30

Premium Essay

Factors Affecting HRP

...d. Managing Growth and Expansion HRP helps organizations in managing their growth and expansion. For example, an Indian conglomerate was planning to start a steel plant in the outskirts of Orissa. After their HRP process, they formed two teams - one is recruitment and other training team. They send these teams to the proposed site in Orissa. The job of the recruitment team was to source manpower from the nearby villages. If they found the profile of the candidate matching their requirement then they forwarded their details to the training team who in turn put them into batches and give training to them. This process went on for nearly a year, so by the time the factory was ready; they had their workforce ready to do the production. e. Coping...

Words: 984 - Pages: 4

Premium Essay

Investment Executive

...INTRODUCTION MaimunahAminuddin (2003) defined Human Resource Practise (HRP) as an activity undertaken in all organizations large and small to ensure that people who are employed are used effectively and efficiently, and be able to contribute to the achievement of organizational goals. According to Bohlander and others (2001), HRP include consolidation of a diverse workforce to achieve common goals. Ivancevich (2001) also defines HRP as a function implemented in the organization to help facilitate the effective use of human resources to achieve organizational and individual goals. The early conception that is cost because they have to be paid salaries and provided various forms of benefits such as leave, bonuses and health benefits. However, the importance of the human element cannot be separated from the success of the organization. While Peter F.Drucker, stating that “man, of all the resources available to man, find Grow and Develop.” Abdul Aziz Ahmad was of the view that an organization must have a working sound quality and high caliber, effective training programs to motivate employees, capabilities and commensurate wages for the workers, as well as rights and services (welfare) is good. Muhammad Nasri and Ab. Aziz (2005) also underlined that the Islamic Perspective mean HRP management practices in an effort to create, develop and expand and pursue effective use of resources within themselves to achieve self-improvement and community. The role and functions of HRD is referring...

Words: 2686 - Pages: 11

Premium Essay

Hrm Planning

...HRM Planning Key Features: Define HR Planning and its crucial(Very serious) relationship with strategic organizational planning. Examine the nature and role of HRM info system(HRMIS) in HRP and SHRM Develop an understanding of the techniques of HRP and advantages/disadvantages of HRP process I.HRP and SHRM HRP is the bridge between HRS and HR Function(Activity).It’s the process through which the Organisational Goals are translated into HR goals in staff-ing levels and allocation HRP ensures the org have the right people with right skill in right place at the right time. HRP guides the long-term resourcing of people in org-the acquisition(capture),use and development of Human capital and knowledge assets Workfoce Planning(HRP)=>Preparing to recruit=>Attracting Staff=>Recruiting and selecting staff=>Developing and retaining staff. Step:Environmental Scanning(External and internal)=>Labour Demand Forecasting=>Labour supply analysis=>Balancing demand and supply Emphasied the need to diagnose(discover) the real reasons for mismatches in supply/demand Using a mix of qualitative and quantitative techniques It Involves: Forecasting labour requirement for an org Predicting likely(will happen) sources Environmental Scanning Development of Objective and Goals Formulating the necessary steps to meet needs Evaluation(Judgement) of the planning process The HR Planner should: 1st Analyzing Environmental Factors and Organization Direction=>Forecasting...

Words: 772 - Pages: 4

Premium Essay

Management Model Questions

...Question 1 Describe the evolution of ‘Personnel Management’ into ‘Human Resource Management’. How does the transformation help organisations achieve their strategic objectives? * Briefly explain the meaning of HRM – 2.5 marks * Briefly explain the meaning of Personal Management – 2.5 marks * Identify and describe 4 factors contributed to the transformation of PM into HRM 2.5 marks x 4 factors– 8 marks * How does HRM help organisation achieve strategic objectives of organisations – 3 marks X 4 points - 12 marks (The answers should reflect originality and not extracts from the text book. If the student has reproduced what is in the text book full marks should not be awarded for theoretical areas. They must reflect critical thinking and practical application of theory) Human Resource Management (HRM) could be defined as the process of managing human talent to achieve an organization’s objectives. HRM has to help blend many aspects of management in order to overcome “competitive challenges” and address “employee concerns”. By balancing these competing demands HRM plays an important role in getting the most from employees and providing a work environment that meets their short-term and long-term needs. Traditionally the term Personnel Management (PM) was used to refer to the set of activities concerning the workforce which included staffing, payroll, contractual obligations and other administrative tasks. In this respect, personnel management encompasses...

Words: 1588 - Pages: 7

Premium Essay

Topman

...BTEC Level 3 Extended Diploma/Diploma in Business |Unit: 16 Human Resource Management |Subject Tutor: | | |Claire Dodson | |Assignment Title: Human Resource Planning |Ref: 1 of 2 | |Student Name: |Personal Tutor: | | |Lisa Sultanti | |Overall Target Grade: |Unit Target Grade: | |Issue date:14/10/14 |Submission date: 24/10/14 | |Extension Granted: |Submission Date: | |P1 | |M1 | | |P4 | | | | |P5 | | | | |P6 | | | | Final Assignment Grade ...

Words: 1709 - Pages: 7