Indexation–Matching employment growth with an index e.g. ratio of production employees to salesOther forecasting methods •Budget & Planning Analysis–Organizations that need HR planning generally have detailed budgets and long-range plans•New Venture Analysis–Planners estimate human resource needs by making comparisons with similar operations•Computer-Based Simulation Models–More sophisticated approachesThe Supply of Human Resources: Internal Supply Estimates•Skills Inventories–Summary of worker skills and abilities•Management Inventories–Reports of management capabilities•Replacement Charts–Lists of likely replacements for each job•Transition Matrices & Markov AnalysisReplacement Chart
The Supply of Human Resources: External Supply Estimates•Labour Market Analysis–Study of the firm’s labour market to evaluate the present or future availability•Community Attitudes–Affects nature of the labour market•Demographic Trends–Affects the availability of external supply–HRSDC publishes labour force projections–Statistics Canada publishes reportsMatching Supply and demand Managing oversupply•When the internal supply of workers exceeds the firm’s demand, a surplus exists•There are various HR strategies:–Headcount reduction–Attrition–Work arrangementsManaging oversupply: Attrition strategies •Hiring Freeze–Most employers respond to a surplus with a hiring freeze–Attrition (voluntary departures) slowly reduces the surplus•Early and Phased Retirement Offers–Early retirement encourages long-service workers to retire–Phased retirement is a gradual phase into retirementManaging Oversupply: Alternate work strategies•Job Sharing–Available work is spread among all workers•Use of Part-time Workers–Replacing full-time positions with part-time•Internal Transfers–May find new jobs for surplus employees•Loaning or Flexforce–Seasonal companies may loan employees
Managing Oversupply: Headcount reduction strategies•Layoffs–Temporary withdrawal of employment–Unpleasant for workers and management–For economic reasons•Leave without Pay–Temporarily reduce the number of employees–E.g. going back to school•Termination–Severance pay–OutplacementOvercoming employee shortages •Hire Employees–Full-time; part-time•Source service providers–e.g. independent contractor; outsource•Develop employees internally–e.g. replacement charts; succession planning•Consider existing work arrangement–e.g. overtime, flexible schedulesAlternative arrangements in staffing•Overtime–Employees work beyond the normal hours•Flexible schedules•Flexible time and location–e.g. telecommuting, virtual organization•Flexible policies–e.g. flexible retirements•Hire part-time workers–Popular strategy for meeting human resource needs•Hire full-time employees–
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