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Home Resource Basics of Human Resource Planning!

Basics of Human Resource Planning!

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The secret to a successful organization would be nothing but employees, who can accomplish their tasks without any hassles or tussles. It is crucial for managers to identify the right employees for the job. And, this calls for a reliable human resource planning guide for managers. Without proper planning, it would be difficult, or rather impossible to attract the right candidates.

Related Post: Human Resource Management for Small Businesses

What is human resource planning? 

By definition, human resource planning is all about identifying the company’s present resources, evaluating future needs, coming up with requirements, and pulling together a strategy that would cover all existing gaps. In the good old days, this process was also known as manpower planning. When done right, this process will help you attract the right talent for the job, at the right hour.

HR planning
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Also Read: Target Market for Business Planning

Importance of planning Human Resources

Human resource planning is extremely crucial for any company. It is the key to identifying talent that can actually make a difference in the organization. Whenever a business wants to achieve a strategic goal, it needs skillful and determined people.

Few other benefits of HR planning are:

  • Ensure that existing resources are used at an optimal rate.
  • Help the organization achieve strategic goals and objectives.
  • Generate information that is required for the HR team to function properly
  • Help the organization expand, and adapt to ever-changing technologies, methods, and policies from the government.
  • Assist in the development of career plans for existing employees.
  • Engage in training activities.

Also Read: Best Tips for Personal Financial Planning

Steps in Human Resource Planning 

As a part of HR planning, there are four steps every company needs to follow.

Step 1: Identify the company’s existing teams. It should always begin with the current labor group. Skills, interests, qualifications, salary levels and gaps should be analyzed. And, the best place to collect this information would be your human resource database.

Step 2: Predict the company’s future demand for talent. Understand more about how the company wishes to expand. Based on future needs, you need to pull together the requirements matrix.

Step 3: The gaps between demand and supply in your workforce has to be identified. These gaps should focus on your predictions for the future. Can your existing workforce meet future needs? If not, you need to hire.

Step 4: Develop an action plan that can fill the gaps found in step 3. If new employees are needed, you need to hire. And, if you have too many in your existing workforce, you need to lay-off. Indeed, this concludes your human resource planning strategy.

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