Human Resource Planning : Strategic Human Resources Planning

A demand for a commodity, service, etc. which is a consequence of the demand for something else. In respect to Strategic Human Resource Planning, derived demand applies specifically to labor. The demand for labor is derived from the demand for the goods and services that labor is used to produce. The demand for labor is also influenced by the level of economic activity and the relative cost of labor compared to capital.

Human resource departments today have a more distinct, calculated position within organizations, and human resource strategy influences the bottom line. “One of the challenges for HR leaders is convincing executive leadership teams that human capital is one of the most important resources in which the company can invest” (Mayhew, 2014, p.). Subsequently, “this return on investment is an essential part of the argument for including HR as part of an overall business strategy” (Mayhew, 2014, p.). Human resource departments utilize the information given to them from company executives and leaders, coupled with their respective expertise on all things personnel, and they plan and implement staffing concerns for the betterment of the organization. From preparing job analysis, to comparing inventory and forecasting, it is the responsibility of human resources to consider the objectives of an organization and fulfill those goals while operating the specific planning relative to HR.

The demand for products and service is important, if the demand for these change for a business it has a affect on human resources because it can affect the level of

Derived Demand applies to Strategic Human Resource Planning for organizations to forecast the demand of what’s needed.

The determinants of demand can causes some effects on demand curve . if demand increases this leads

Define and explain the significance of the term ‘derived demand’ as it applies to Strategic Human Resources Planning. (5 marks)

Human Resource Management, was developed in the late 90’s, by R. Wayne Mondy and Judy Bandy Mondy. It was designed to help new students become familiar with human resource management, providing both realistic and practical scenarios of HR’s strategic role in planning and operating organizations. Through various examples from the research of company material, it demonstrates that all managers are necessarily involved with the human resources part of business, which is

Human resource handle administrative functions in an organisation and Human resource planning expand strategies for relating the skills and size of manpower to enterprise needs. In simple words the planning system makes recruitment, gives training and restructures the staff requirement to meet the organisational goals and changes within the environment. Human resource planning is a paramount component of Human resource management.

With over 1500 employees, Youth for Christ is considered a large non-profit organization. The last several years have been a challenge for Youth for Christ. A dwindling economy has led to decreased donations, budget cuts, and downsizing of staff. Budget cuts have affected all areas of the organization and have led to lower motivation, decreased retention, and higher turnover levels. To better understand the state of Youth for Christ and provide recommendations for improvement, it is important to understand the background of the organization, any academic models that can be applied to the organization to improve current challenges, and recommendations of implementation.

‘Three sets of forecasts are required; a forecast for demand for human resources, a forecast for supply of external human resources and a forecast of the supply of human resources available within the organisation’ (Stone 2008 p60).

Abstract: For this assignment we will examine how strategic management plans are established and redefine to keep the organizations moving forward in growth. Management promotes and brings about a change in the structure to keep it active and efficient in the approaches to achieving its goals and objective. The strategy behind the approaches correlation is what leads to actually implementing and providing data to analyze on an ongoing basis to enhance the strategic plan of the organization.

The table below gives us a glimpse into the main functions of SHRM and its differences from traditional functions and responsibilities of HRM:

301 OVERVIEW OF HUMAN RESOURCE PLANNING ......... 307 MANAGERIAL ISSUES IN PLANNING........................ 314 SELECTING FORECASTING TECHNIQUES ................ 319 FORECASTING THE SUPPLY OF HUMAN RESOURCES.......................................................... 326 FORECASTING THE DEMAND FOR HUMAN RESOURCES.......................................................... 348 SUMMARY............................................................. 363 NOTES.................................................................. 370

Planning means looking ahead and chalking out the future courses of actions to be followed. The ongoing process of systematic planning to achieve optimum use of an organization 's most valuable asset is human resources department. The objective of human resource (HR) planning is to ensure the best fit between employees and jobs, while avoiding manpower shortages or surpluses. The three key elements of the HR planning process are forecasting labor demand, analyzing present labor supply, and balancing projected labor demand and supply.

Demand forecasting techniques are the methods a business uses to make the best possible decisions for their company based on likely predictions.