forecasting 77

8/8/2019 Forecasting 77

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DEMAND

FORECASTING

Presented by:-

Ruchika Dangi



HUMAN RESOURCES PLANNING

The development of strategies to match the

supply of workers to the availability of jobs at

organizational, regional, or national level.

Human resource planning involves reviewing

current manpower resources, forecasting

future requirements and availability, andtaking steps to ensure that the supply of

people and skills meets demand.



DEMAND FORECASTING

Demand forecasting involves predicting the

number and types of people the organization

will need at some future point of time.

Forecasting a companys future demand in

human resources is a necessary procedure in

light of organizational objectives and

strategies.



METHODS

Work Study Technique

Statistical Techniques

Delphi Technique Computer Analysis

Managerial Judgment



WORK STUDY TECHNIQUE

It is technique used when it is possible to

apply work measurement to know how long

operations should take and the amount of

labor required.

It calculated in two types:-

Work-load Analysis

Work-force Analysis



STATISTICAL TECHNIQUES

It is the method of using new mathematical

techniques for forecasting future demand.

The main statistical tools are:-1. Ratios Analysis

2. Trend analysis



DELPHI TECHNIQUE

Delphi technique is used to predict future

situations by integrating the independent

opinions of experts.

A major goal of the Delphi technique is to

avoid direct confrontation of experts, since

some individuals may be unduly influenced by

others because of status differences, resulting

in compromise of good ideas.



COMPUTER ANALYSIS

Computer analysis means determination of

future staff needs by projecting sales, volume

of production, and personnel required to

maintain the volume of output, using

software packages.



MANAGERIAL JUDGMENT

It is the most common method. In this

method the managers simply sit down, think

about their future work load and how many

people they need and according to which

future demand is forecasted.



SUPPLY

FORECASTING

Presented by:-

Shreya Sharma



FORECASTING H.R. SUPPLY

In the age of competition, companies do

not have any other choices than to

compete better than their competitors.

Human Resource Management has critical

role to play in the organization.

The main task of HR is to support other

departments to have the best people



Once human resource needs have been

forecasted, then availability of the human

resource must be identified.

Forecasting the availability considers both

external and internal supplies.



EXTERNAL SUPPLY

Extensive use of government estimations of labour force

population, trends in the industry and many more

complex and interrelated factors must be considered.Such information is often available from state or regional

economic development offices including these items:

Individuals entering and leaving the workforce

Individuals graduating from schools and college



Changing workforce composition and

patterns

Technological developments and shifts Actions of competing employers

Government regulations and pressures



INTERNAL SUPPLY

Promotion

Lateral moves Demotions

Training and development programs



SUCCESSION PLANNING

The process of identifying long-range

needs and cultivating a supply of internal

talent to meet those future needs.

The succession planning policy of

promoting from within can help your

organization when faced with issues such

as the death, resignation or retirement of a

key employee.



Effective succession planning provides for

an immediate replacement if such

circumstances ever arise. Valuable

employees are less likely to leave the

organization, if they know they have an

opportunity to advance



ALIGNING HUMAN

RESOURCE STRATEGY

PRESENTED BY:

SHACHINDRA



The company¶s long term plan for how it

will balance its internal strengths and

weakness with its external opportunities

and threats to maintain a competitive

advantage

STRATEGY



The process of identifying and executing

the organization¶s mission by matching its

capabilities with the demand of its

environment

Strategic management



1.Define the current business and mission.

2.Performance external and internal audits.

3.Formulate new business and mission statement.

4.Translate the mission into strategic goals.

5.Formulate strategies to achieve the strategic goals.

6.Implement the strategies.

7.Evaluate performance.

The S.M. process



Formulating and executing HR

systems,HR policies and activities, that

produce the employee competencies and

behaviors the company needs to achieve

its strategic aims.

Strategic HRM



1.The need to support corporate productivity

and performance improvement efforts.

2.Employees play an expanded role in

employer¶s performance improvement efforts.

3.Employers see that their human resource

units must be more involved in designing-not

just executing-the company¶s strategic plan.

SHRM challenges



-Formulate business strategy (what are the strategic goals of the business?)

-Identify workforce requirements

(what employee competencies and behaviors must HR deliver toenable the business to reach its goals?)

-formulate HR strategic policies and activities(which HR Strategies and practices will produce these employee

competencies and behaviors?)

How to Align HR strategy



-Develop detailed HR scorecard measures How can HR measures whether it is executing well for the business,

in terms of producing the required workforce ccompetencies and

behaviors?)

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THANK YOU

forecasting 77

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