Predicts the future HR management needs of the organization after analyzing the organization's current human resources
Strategic Human Resource Planning
1. Assessing the current HR capacity
2. Forecasting HR requirements
3. Gap Analysis
4. Developing HR strategies to support organizational strategies
Job Analysis
Systematic process of determining job duties and responsibilities, its relation to other jobs, skills and knowledge required and working conditions under which it is performed
Job Description
Document that provides information regarding the tasks, duties and responsibilities of the job
Job Specification
Statement which tells minimum acceptable human qualities which helps to perform a job
Human Resource Forecasting Techniques
DelphiTechnique
TrendAnalysis
RatioAnalysis
ScatterPlot
ComputerizedForecast
Multinational Corporation (MNC)
A corporation that has facilities and other assets in at least one country other than its home country
Strategic Challenges
Organization needs to plan for both the quantity and quality of the workforce over the planning horizon
Having sufficient workers with the right qualification is essential to achieve the strategic plan
The organization may face a surplus in some parts of the business while facing a shortage in others
Technology Challenge
The introduction of computers made redundant not only typewriters but also the job of secretary and the lengthy process of creating, editing, and producing written correspondence
The line between employees' personal and professional lives becomes blurred as these virtual communities are frequently accessed from the work site