BU354 Chapter Notes - Chapter 5: Dependent And Independent Variables, Delphi Method, Unemployment Benefits
Document Summary
Helps achieve goals/objectives, achieve economies in hiring new workers, make major labour market demands more successfully, anticipate and avoid shortages and surpluses of human resources, and control or reduce labour costs. On avg. , 2 out of every 3 job openings over next decade will be focused on replacing retiring workers. Baby boomers retiring/fertility rates declining create fierce labour competition. Key hrp process include analyzing forecasted labour supply, forecasting labour demands, and then planning and implementing hr programs to balance supply/demand. Unstaffed positions can create costly inefficiencies and severance pay for laid of employees can be costly. Hr plan does not occur independently of other departments. Hrp must align with overall goals of org. and both of the long/short-term strategic plans set by the org. An org. "s strategic decision to expand, redirect, diverge, partner, merge, etc. will have associated effect on the hr expectations/plans of the org.
