Essay on Human Resource Management
Based on the information retrieve from entrepreneur.com, “Human Resource” is the department or support systems responsible for personnel sourcing and hiring applicant tracking, skill, development, and tracking, benefits administration and compliance with associated government regulation.
What is Human Resource Planning?
According to Brighthub.com, “Human Resource Planning” is a systematic analysis of HR needs to ensure the availability of the correct number of employees with the necessary skills at the right time. The increased competitive nature of business that makes workforce flexibility an imperative need has raised the importance of human resource planning.
Effective Human Resource planning entitles …show more content…
The HR inventory analysis entails * Skill inventory, or keeping track of the number of employees, and the age, locations, qualifications, and skills of each employee to determine the specific role each employee would fill in the short term and long term * Forecasting resignations and recruitment and understanding their impact on the skill inventory levels * Forecasting leaves, transfers, dismissals, sabbaticals, prolonged illness, and deaths of employees and their impact on inventory levels
The ways to forecast the internal supply of human resources include methods such as Markov analysis, transitional matrices, replacement schedules, succession planning.
Audit is the third step in HR planning, which includes reconciling inventory with forecast through a systematic analysis of demand and supply forecasting, and identifying areas where shortages and surpluses exist.
The audit phase also involves, among other tasks: * Identifying reasons for resignations, the cost of such resignations such as recruitment and training costs of new hires, cost of lost experience, skills and knowledge of the departing employee, and devise retention plans to retain key talent, if required * Review the effectiveness of the recruitment activities, training and development initiatives, career planning