FACTORS AFFECTING HR FORECASTING

FACTORS AFFECTING HR FORECASTING

HR FORECASTINGHuman resources forecasting involves projecting labor needs and the effects they will have on a business. An HR department forecasts both short- and long-term staffing needs based on projected sales, office growth, attrition and other factors that affect a companys need for labor. In addition to forecasting the number and type of workers you will need, HR planning includes analyzing the various costs and administrative work that go along with adding workers or downsizing.ORGANIZATIONAL FACTORSCorporate mission and strategic goalsOperational goals and production budgetsHR policiesOrganizational structure and restructuringWorker KSAs, competencies and expectationsHRMS level of developmentOrganizational culture, climate, job satisfaction and communicationJob analysis, workforce coverage and current data.ENVIRONMENTAL FACTORSEconomy Labor markets and unionsGovernment laws and regulationsIndustry and product life cycleTechnological changesGlobal market for skilled laborDemographic changesTHANK YOU BY: SWATISAYANTAN GHOSHSHUBHI MAHAJANMRITYUNJAY TALUKDAR