MGMT 471: HRM Week 4

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MGMT 471 HRMWeek 4

• I. HR Planning
• A. Forecasting
• B. Goal Setting and Strategic Planning
• C. Program Implementation and Evaluation
• II. Recruitment

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I. Forecasting

• DEMAND
• SUPPLY
• Internal
• External

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Overview of the Human Resource Planning Process
McGraw-Hill
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Forecasts of Labor Surplus and Shortage

• HR planning, Step 1 is forecasting
• attempts to determine supply and demand for
  various types of human resources predict where
  there will be labor shortages or surpluses.
• Statistical methods or judgment

• Ways to forecast the demand for labor including
• Statistical models
• Trend analysis
• Determining internal labor supply analysis of
  how many employees are currently in various job
  categories and/or have specific skills.
• Transitional matrix

McGraw-Hill
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Goal Setting and Strategic Planning

• HR planning, Step 2 Goal setting and strategic
  planning.
• Purpose for setting goals focus attention on
  needs and provide a basis for measuring the
  organizations success in addressing labor
  shortages and surpluses. The goals come directly
  from analysis of labor supply and demand.

McGraw-Hill
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II. Goal Setting and Strategic Planning

• Options to Reduce Surplus
• Options to Avoid a Shortage
• Core competency a set of knowledge and skills
  that make the organization superior to
  competitors and create value for customers.
• Strategies

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HR Strategies for Addressing a Labor Shortage or
Surplus
McGraw-Hill
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Strategy Pros and Cons

• Downsizing
• Early Retirements
• Temp Workers
• Outsourcing
• Overtime

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Implementing and Evaluating The HR Plan

• HR planning, Stage 3 Implementing the strategies
  and evaluating the outcomes.
• Evaluation Has the organization succeeded in
  avoiding/anticipating labor shortages or
  surpluses?
• Identify which parts of the planning process
  contributed to success or failure.

McGraw-Hill
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Discussion

• How does SW Airlines avoid layoffs?
• What impact does HR Planning have on recruitment?