HRM 3430 Chapter Notes - Chapter 6: Tradesman, Organizational Culture, Succession Planning

• School: York University
• Department: Human Resources Management
• Course: HRM 3430
• Professor: Gordon Qi Wang

Document Summary

Hr forecasting the heart of the hr planning process, can be defined as determining the net requirement for personnel by determining the demand for and supply of human resources now and in the future. Forecasting is only an approximation of possible future states and is an activity that strongly favours quantitative and easily codified techniques. Studies have shown that accuracy of prediction improves significantly when a variety of forecasting techniques are used. Hr planning should be: strategic and forward looking, comprehensive and encompass all employee groups and management, tailored to the specific culture and attributes of the organization to which it is functions being applied. Benefits of hr forecasting: reduces hr costs effective hr forecasting will allow organizations to develop internal workers and obtain the best external recruits. This means organizations will be less likely to have to react in a costly last-minute crisis mode to unexpected developments in the internal or external labour markets.