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Demand Forecasting - 2

HUMAN RESOURCE PLANNING is the process of deciding what positions to fill and how to fill them (succession planning) This process embraces all future positionsfrom clerk to CEO. There are 2 ways to fill projected openings: +Inside the firm +Outside the firm Here each option requires different personnel plans.

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Parth Pradhan
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27 views17 pages

Demand Forecasting - 2

HUMAN RESOURCE PLANNING is the process of deciding what positions to fill and how to fill them (succession planning) This process embraces all future positionsfrom clerk to CEO. There are 2 ways to fill projected openings: +Inside the firm +Outside the firm Here each option requires different personnel plans.

Uploaded by

Parth Pradhan
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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HUMAN RESOURCE MANAGEMENT

DEMAND FORECASTING
PRESENTED BY: ANIL BHATIA SONALI PARTH PRADHAN UNDER THE GUIDANCE OF: PROF. VIGYA GARG

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PLANNING & FORECASTING


Recruitment and selection ideally starts with HR planning. As if we dont know what our teams employment needs in the next few months ,why should you be hiring?

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HUMAN RESOURCE PLANNING


It is the process of deciding what positions to fill and how to fill them (succession Planning). This process embraces all future positions- - from clerk to CEO.

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HOW TO FILL PROJECTED OPENINGS?


There are 2 ways to fill projected openings:
Inside the firm Outside the firm

Here each option requires different personnel plans. Current employees just need T&D. But going outside requires planning of different recruiting sources.
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EG:
SBI recruits thousands of graduates as P.O. These officers became the integral part of co. to fill higher positions in future. They rarely recruits externally for higher positions. So it means they adopt build approach. Whereas pvt. Banks adopt buy approach by recruiting people with experience @ middle & senior positions
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STEPS IN RECRUITMENT AND SELECTION PROCESS

The recruitment and selection process is a series of hurdles aimed at selecting the best candidate for the job Copyright Wondershare Software

WHAT TO FORECAST ?
Overall personnel needs:
Basically the process of deciding personnel needs is to forecast revenues first . Then estimate the size of the staff required

There are several tools for projecting Personnel Needs which are as follows

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FORECASTING PERSONNEL NEEDS


Forecasting Tools

Trend Analysis

Ratio Analysis

Scatter Plotting

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TREND ANALYSIS
It is the study of firm s past employment needs over a period of years to predict future needs. For instance: you might compute the no. of employees @ the end of each of the last 5 years to identify trends that might continue into the future. Trend Analysis provide an initial estimate of future needs.
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RATIO ANALYSIS
It is a forecasting technique for determining future staffing needs by using ratios b/w :
Some causal factors . E.g. Sales volume No. of employees required . E.g. No. of sales people

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THE SCATTER PLOT


It is a graphical method used to help identify the relationship b/w two variables----For instance, relationship b/w sales and the firm s staffing levels---are related. If they are related then we can estimate the personnel needs.

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FOR EG. EG.


FIGURE 5 3 Determining the Relationship Between Hospital Size and Number of Nurses
Note: After fitting the line, you can project how many employees youll need, given your projected volume.
Size of Hospital (Number of Beds) 200 300 400 500 600 700 800 900 Number of Registered Nurses 240 260 470 500 620 660 820 860

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DRAWBACKS TO TRADITIONAL FORECASTING TECHNIQUES


They focus on projections and historical relationships. They do not consider the impact of strategic initiatives on future staffing levels. They support compensation plans that reward managers for managing ever-larger staffs. They bake in the idea that staff increases are inevitable. They validate and institutionalize present planning processes and the usual ways of doing things.
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USING COMPUTERS TO FORECAST PERSONNEL REQUIREMENTS


Computerized Forecasts Software that estimates future staffing needs by: Projecting sales, volume of production, and personnel required to maintain different volumes of output. Forecasting staffing levels for direct labor, indirect staff, and exempt staff. Creating metrics for direct labor hours and three sales projection scenarios minimum, maximum, and probable.
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FORECASTING THE SUPPLY OF INSIDE CANDIDATES

Qualification Inventories

Manual Systems and Replacement Charts

Computerized Information Systems

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FORECASTING OUTSIDE CANDIDATE SUPPLY


Factors In Supply of Outside Candidates
General economic conditions Expected unemployment rate

Sources of Information
Periodic forecasts in business publications Online economic projections
U.S. Congressional Budget Office (CBO) U.S. Department of Labor s O*NET Bureau of Labor Statistics (BLS)
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THANK YOU!

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