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    HR Demand and Supply Match

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    ayuska pathak
    The document discusses HR demand and supply matching. It begins by explaining HR demand forecasting, which involves estimating future HR needs based on factors like employment trends, replacement needs, productivity, absenteeism, and organizational expansion and growth. Next, it discusses HR supply forecasting, which estimates available internal and external HR resources through transfers, promotions, retirements, and new recruitment based on market conditions. Finally, it states that HR planning aims to match demand and supply to identify shortages or surpluses, and then prepare plans to address imbalances through redeployment, retrenchment, voluntary retirement, recruitment, or training.

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    HR Demand and Supply Match

    Uploaded by

    ayuska pathak
    3K views2 pages
    The document discusses HR demand and supply matching. It begins by explaining HR demand forecasting, which involves estimating future HR needs based on factors like employment trends, replacement needs, productivity, absenteeism, and organizational expansion and growth. Next, it discusses HR supply forecasting, which estimates available internal and external HR resources through transfers, promotions, retirements, and new recruitment based on market conditions. Finally, it states that HR planning aims to match demand and supply to identify shortages or surpluses, and then prepare plans to address imbalances through redeployment, retrenchment, voluntary retirement, recruitment, or training.

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    The document discusses HR demand and supply matching. It begins by explaining HR demand forecasting, which involves estimating future HR needs based on factors like employment trends, replacement needs, productivity, absenteeism, and organizational expansion and growth. Next, it discusses HR supply forecasting, which estimates available internal and external HR resources through transfers, promotions, retirements, and new recruitment based on market conditions. Finally, it states that HR planning aims to match demand and supply to identify shortages or surpluses, and then prepare plans to address imbalances through redeployment, retrenchment, voluntary retirement, recruitment, or training.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    3K views2 pages

    HR Demand and Supply Match

    Uploaded by

    ayuska pathak
    The document discusses HR demand and supply matching. It begins by explaining HR demand forecasting, which involves estimating future HR needs based on factors like employment trends, replacement needs, productivity, absenteeism, and organizational expansion and growth. Next, it discusses HR supply forecasting, which estimates available internal and external HR resources through transfers, promotions, retirements, and new recruitment based on market conditions. Finally, it states that HR planning aims to match demand and supply to identify shortages or surpluses, and then prepare plans to address imbalances through redeployment, retrenchment, voluntary retirement, recruitment, or training.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    HR Demand and Supply Match:

    HR Demand Forecasting

    Forecasting human resource demand is the process of estimating the future human resource
    requirement of right quality and right number. Potential human resource requirement is to be
    estimated keeping in view the organisation's plans over a given period of time. Analysis of
    employment trends; replacement needs of employees due to death, resignations, retirement
    termination; productivity of employees; growth and expansion of organisation; absenteeism and
    labour turnover are the relevant factors for human resourced forecasting. Demand forecasting is
    affected by a number of external and internal factors. Job analysis and forecasting about the
    quality of potential human resource facilitates demand forecasting. So, existing job design must
    be thoroughly evaluated taking into consideration the future capabilities of the present
    employees. Human Resource Demand Forecasting depends on several factors, some of which
    are: Employment trends; Replacement needs; Productivity; Absenteeism; and Expansion and
    growth.

    HR Supply forecasting

    Human Resource supply forecasting is the process of estimating availability of human resource
    followed after demand for testing of human resource. For forecasting supply of human resource
    we need to consider internal and external supply. Internal supply of human resource available by
    way of transfers, promotions, retired employees & recall of laid-off employees, etc. Source of
    external supply of human resource is availability of labour force in the market and new
    recruitment. External supply of human resource depends on some factors like: Supply and
    demand of jobs; literacy rate of nation; rate of population; industry and expected growth rate and
    levels; technological development; compensation system based on education, experience, skill
    and age.

    Matching HR Demand and Supply

    It is one of the objectives of human resource planning to assess the demand for and supply of
    human resources and match both to know shortages and surpluses on both the side in kind and in
    number. This will enable the human resource department to know overstaffing or understaffing.
    Once the manpower gaps are identified, plans are prepared to bridge these gaps. Plans to meet
    the surplus manpower may be redeployment in other departments and retrenchment in
    consultation, with the trade unions. People may be persuaded to quit through voluntarily
    retirement. Deficit can be met through recruitment, selection, transfer, promotion, and training
    plans. Realistic plans for the procurement and development of manpower should be made after
    considering the macro and microenvironment which affect the manpower objectives of the
    organization.

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