Question

1. List the most important factor to consider when forecasting the supply of human resources. Why do you feel this is most important? 2. List the most important factor to consider when forecasting the demand of human resources, Why do you feel this is most important? 3. List the most important trend in the labor force that could have an impact on human resource planning. Why do you feel this most important?

Answer 1

Market trend is the ost important factor to consider when forecasting supply of human resources. This factor means that how many employees are needed in every financial year to replace the retired ones. Number of people required depends up on the number of people to be replaced. If the volume of people to be replaced his big then requirement will be big and vice versa. Market trend is the most important factor as forecasting would be based on data derived and not on prediction.

Workload forecasting and executive judgement are important for forecasting demand of human resources.Consideration is given to abour turnout,productivity and absenteeism. Under executive judgement, they sit together and determine future manpower required for the enterprise.

Attrition is a major trend in labor force that could have impact on human resource planning as it tells us about the demand and supply for HRM planning as if there is more attrition, more supply of HRs is required and vice versa.