Analyze the Importance of Human Resource Planning
Mariam Peyton is a professional Financial Analyst. She holds a Masters degree in Economics. She specialises in financial analysis and forecasting. Her expertise includes studying the financial performance of companies, markets and entire industries looking for trends, insights and information that can help you glean rich insights for use in academic and market research.
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Human resource planning is one of the most important human resource practices in the organization because it deals with the recruiting and selection of employees. Business Organizations often rely much on human resource planning to evaluate their current position and the future needs of their labor. Human Resource planning is the process that helps organizations align their human resources with their business goals and objectives. It involves activities such as analyzing the current and future needs of employees, forecasting the demand and supply of goods and services, and applying reasonable actions to bridge the gaps. Consequently, HR planning guarantees that organizations employ the right people with the right skills in the right place at the right time.
Human Resource planning is a critical function that enables organizations to utilize their most valuable asset which is the people/ employees. It does so by following a systematic process ensuring that organizations have or employ competent and motivated employees who can deliver strategic goals and create value for all shareholders. Human resource planning involves all actions involving continuous environmental scanning and reviewing of organizational strategies, objectives, and policies to ensure that the right quality and quantity of human resources are available when and where they are needed. (Randhawa, 2007) commentated that human resource planning is not a static process but rather an ongoing process that involves several related activities that must be improved and reorganized as circumstances necessitate.
This paper aims to examine the importance of human resource planning in an organization. This paper recommends that organizations should continue to practice and maintain effective human resource planning as it plays a fundamental role in achieving the objectives of the organizations. This paper answered questions such as; what is human resource planning? What is the importance of human resource planning in an organization? What are the needs and scope of human resource planning?
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Analyze the Importance of Human Resource Planning Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Understand the concept of Human Resource Planning, what it is, and its role in an organization's success
- Identify the main steps and methods involved in the human resource planning process.
- Evaluate the benefits and challenges of human resource planning for different types of organizations.
1.0 INTRODUCTION
Human resource planning is a key function of human resource management that aligns the workforce with the organizational objectives by estimating the number and quality of employees needed to achieve the desired outcomes. Human resource planning helps to ensure that the organization has the right people in the right place at the right time. For an organization to effectively manage its human resources, it must ensure to have efficient human resource planning as per De Cenzo & Robbins, 1988).
Mondy (1996) terms human resource planning as a process whose primary aim is to ensure that a business organization has an adequate and appropriate supply of competent employees for the various jobs that it needs to fill at any given time. Human resource planning involves predicting the demand and supply of human resources, evaluating the loopholes and inconsistencies, and developing and implementing strategic approaches to address them. Human resource planning is essential for achieving organizational goals and objectives, as well as for ensuring employee satisfaction and maintenance.
An organization that effectively implements its human resource planning will likely prosper in a competitive environment. Several studies have shown that approximately 80 % of small and big businesses perform human resource planning regularly (Craft, 1988). The optimum utilization of human resources is a significant success factor that contributes to an organization’s long-term competitiveness (Zülch, Rottinger & Vollstedt, 2004).
Human resource planning is vital in organizational uneven phases such as during merging, amalgamation, and consolidation. Human resource planning is an essential human resource management process that seeks to prepare organizations for their current and future workforce needs by ensuring the right people are in the right place at the right time (Jacobson, 2010). Human resource planning can also be used to achieve organizational goals and objectives by understanding and planning for people's needs in the short, medium, and long term (Colley & Price, 2010).
Michael (2006) contended that the aims of human resource planning in any organization will largely depend on its setting. The purpose of human resource planning is to forecast organizational needs for employees taking into account the internal and external supply of labor to meet staffing requirements; that is, identifying the gap between what is needed and what is available.
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