Essay on Human Resource Planning
The ongoing process of systematic planning to achieve optimum use of an organization's most valuable asset - its human resources. The objective of human resource (HR) planning is to ensure the best fit between employees and jobs, while avoiding manpower shortages or surpluses. The three key elements of the HR planning process are forecasting labor demand, analyzing present labor supply, and balancing projected labor demand and supply.
Rigorous HR planning links people management to the organization's mission, vision, goals and objectives, as well as its strategic plan and budgetary resources. A key goal of HR planning is to get the right number of people with the right skills, …show more content…
Why HR Planning is required/Importance:
1. Future Personnel Needs
Planning is significant as it helps determine future personnel needs. Surplus or deficiency in staff strength is the result of the absence of or defective planning. All public sector enterprises find themselves overstaffed now as they never had any planning of their personnel requirements. The private sector is no exception. As many as 76.5 per cent of our organizations have surplus labor and the execs varies between 10 and 20 per cent in as many as 47 per cent of the units. The problem of excess staff has become so heavy that many units and resorting to `voluntary retirement schemes' (VRS) to remove the excess staff. Such