HROB 2100 Lecture Notes - Lecture 18: Shortage, Severance Package, Layoff

• School: University of Guelph
• Department: Human Resources and Organizational Behaviour
• Course: HROB 2100
• Professor: Xi Chen

Document Summary

Human resources planning: the process of forecasting future human resources requirements to ensure that the organization will have the required number of employees with the necessary skills to meet it strategic objectives. Helps organization : meet strategic goals and objectives, achieve goals in hiring new workers, meet major market labour demands successfully, anticipate and avoid shortages and surpluses of human resources, control or reduce labour costs. Steps: step 1 forecasting the availability of candidates (supply) step 2 forecasting future hr needs (demand) step 3 planing and implementing hr programs to balance supply and demand. Replacement charts: lists likely replacements for each position: internal candidates age, present performance rating and promotability status are rated, indicates relative strengths/weaknesses, current position, performance, promotability, age, and experience. Markov analysis: a method of forecasting internal labour supply that involves tracking the pattern of employee movements through various jobs and developing a transitional probability matrix.