RSM361H1 Lecture 4: LECTURE4
Document Summary
In addition to strategy formulation, hrp is important in terms of strategy implementation. Industry and competitive trends (customers, new entrants, suppliers, substitutes, and rival firms) The resources must be difficult to imitate. The resources must be organized: evidence from research suggests that employment relationships and hr practices for different employees vary according to which segment they occupy in this matrix: Predicting the number and types of people an organization needs to meet its objectives. There are two approaches to hr forecasting: quantitative and qualitative. Quantitative: trend analysis is a quantitative approach to forecasting labour demand based on an organizational index such as sales. Plot a historical trend of the business factor in relation to the number of employees (this will provide the labour productivity ratio). Compute the productivity ratio for at least the past five years. Calculate hr demand by multiplying the business factor by the productivity ratio. Project the firm"s hr demand out to the target year.
