Human resource planning is a process that involves forecasting the future human resource needs of an organization and developing strategies to meet those needs. The process is divided into four phases: (1) Analyzing Organizational Plan, (2) Forecasting Demand, (3) Forecasting Supply, and (4) Identifying Human Resource Gap .
The first phase of human resource planning is Analyzing Organizational Plan. In this phase, the organization’s goals and objectives are analyzed to determine the human resource requirements needed to achieve them. The analysis includes identifying the skills, knowledge, and abilities required for each job position, as well as the number of employees needed to fill those positions .
The second phase is Forecasting Demand. In this phase, the organization forecasts the number of employees it will need in the future based on its goals and objectives. The forecast is based on factors such as the organization’s growth rate, the expected turnover rate, and the expected retirement rate. The organization also considers external factors such as changes in the economy, technology, and demographics .
The third phase is Forecasting Supply. In this phase, the organization forecasts the number of employees it will have in the future based on its current workforce. The forecast is based on factors such as the current workforce’s skills, knowledge, and abilities, as well as the expected turnover rate and retirement rate. The organization also considers external factors such as the availability of labor in the market .
The fourth and final phase is Identifying Human Resource Gap. In this phase, the organization compares the demand and supply forecasts to identify any gaps between the two. If there is a gap, the organization develops strategies to address it. The strategies may include recruitment, training, development, and retention programs .
In conclusion, human resource planning is a critical process that helps organizations to ensure that they have the right people with the right skills, knowledge, and abilities to achieve their goals and objectives. The four phases of human resource planning are Analyzing Organizational Plan, Forecasting Demand, Forecasting Supply, and Identifying Human Resource Gap. Each phase is essential to the overall success of the process .