Forecasting different HR requirements

  • Assessing HR capacity

Evaluating current staff in HR team is the primary step in planning procedure. Before hiring new talent, it is essential to understand the employees at one’s disposal. First, create each current worker’s skills inventory by self-evaluation individuals with a form or questionnaire, going through performance reviews of past and present or using an approach which combines both these. Also, one can utilise a template chart for visualising skill-set.

  • Forecasting different HR requirements

After having the resources’ full inventory at an individual’s disposal, comes the forecasting process. Here one needs to answer whether a firm needs to increase their human resource or should it stick to the number of current stuff? Or just merely improving productivity by implementing training would be enough?

Measuring an organisation’s qualified employees’ demand and supplying people within or outside the company is vital. Carefully managing this demand and supply is crucial. Three factors to check here are:

  • Company demand forecasting

It refers to a detailed procedure which determines future requirement regarding quality and quantity which would fulfil organisations demand.

  • Supply prediction

Prediction of supply shows whether it will accomplish current demand.

  • Matching demand with supply

This is the tricky part of hiring resources, and it is where human resources planning process comes together. Here one requires developing a strategy for linking company’s demand for quality recruits. An individual can hire recruits or train existing employees or simply combine both steps.

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