HRP Demand and supply

simple and easy presentation

1. HRP Demand and supply forecasting Baddi University of emerging science and technology Ram Murti 16PBA041 [email protected]

2. HRP HRP is also called manpower planning, personnel planning or employment planning. Meaning – HRP is defined as the process by which management determines how an organization should move from its current manpower position to its desired manpower position.

3. Definition According to  beach , “Human resource planning is a process of determining and assuming that the organization will have an adequate number of qualified persons, available at the proper times, performing jobs which meet the needs of the enterprise and which provide satisfaction for the individuals involved.

4. Forecasting Forecasting is determining what is going to happen in the future by analyzing what happened in the past and what is going on now. It is a planning tool that helps business people in their attempts to cope with the uncertainty of what will might and might not occur – it relies on past and current data and analysis of trends. Forecasts may be short- or long-term.

5. Human Resource Forecasting Process of projecting the organization’s future HR needs (demand) and how it will meet those needs (supply) under a given set of assumptions about the organization’s policies and the environmental conditions in which it operates.

6. Demand forecasting Demand forecasting is the process of estimating the quantity and quality of people required to meet future needs of the organization According to Evan J. Douglas, “Demand estimation (forecasting) may be defined as a process of finding values for demand in future time periods.”

7. Method of demand forecasting Ratio-trend analysis Regression analysis Work study techniques Delphi technique Flow models Other forecasting techniques

8. Factor affecting Forecasting HR Demand Employment trends Replacement needs Productivity Absenteeism Expansion and growth.

9. Supply forecasting The purpose of identifying future HR supply requirements is to determine the number of employees required for each job and their knowledge, skills, abilities, and other characteristics. Specifically supply forecasting measures the number of people likely to be available from within and outside an organization.

10. Internal supply forecasting Internal supply forecasts relate to conditions inside the org. such as age distribution of workforce, terminations, retirements, etc.

11. Internal supply forecasting

12. Factors affecting internal supply forecasting Organizational features (e.g., staffing capabilities) Productivity - rates of productivity, productivity changes Rates of promotion, demotion, transfer and turnover

13. External supply forecasting External supply forecasts relate to external labour market conditions & estimates of supply of labour to be available to the firm in the future in different categories

14. Factors affecting external supply Forecaasting Competition for talent Industry or occupational expected growth levels Public policy, government, and legal changes Trends in labour force participation (including entry and exit) Technological development patterns

15. Method of supply forecasting Skills Inventory Replacement Charts Succession Planning Flow Modeling/Markov Analysis Computer Simulations

16. Conclusion Forecasting is a process of making statements about events those actual outcomes have not yet been observed HR forecasting is all about estimating future demand and supply of HR in an organization

17. Thank You