Instructions

Supporting Lecture:

Review the following lecture:

• Forecasting Human Resources

Project

The project assignment provides a forum for analyzing and evaluating relevant topics for this week on the basis of the course competencies covered.

Tasks

You are the VP of HR, and the CEO has inquired whether a succession plan and a talent development plan is right for your organization. You need to prepare your proposal for a succession plan, and a talent development plan to present to the board of directors. Research an organizational chart of organization of your choice and answer the following questions:

• Why is it crucial for HR professionals in this industry to be fully aware of their organization’s strategy planning and talent development?
• What levels within the organization should be included in succession planning? Why? What levels would you exclude? Why?
• What levels within the organization should be included in talent development? Why? What levels would you exclude? Why?
• What positions are critical to the continued success of this organization?

To support your work, use your course and text readings and also use the

South University Online Library

. As in all assignments, cite your sources in your work and provide references for the citations in APA format.

Submission Details

• Present a 3- to 4-page paper in a Microsoft Word document formatted in APA style. Cite any sources using the APA guidelines.
• Name your file as SU_HRM5010_w3_Project_LastName_FirstName.

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Forecasting Human Resources
The need to determine future HR supply requirements is a critical function for every organization. Future
employment needs within an organization must be carefully planned and managed to determine whether
an organization can meet the demand for personnel replacement from current employees in the
organization or must go outside of the organization. Forecasting is the process of predicting a future event
based on historical data. Forecasting can include educated guessing. It is the underlying basis of all
business decisions, including production, inventory, facilities, and, of course, labor supply. HR uses
forecasting to determine its labor supply needs.

Organizational demand for labor supply is available from two sources or a combination of these two:
internal (current employees) and/or external (recruiting people outside of the organization). There are
various techniques available to HR management that are used to analyze labor supply. Organizations use
management inventories and employee skills inventories to determine how it might meet its labor demand
requirements from its current base of employees. In addition, succession planning allows the organization
to identify qualified internal replacements.

Linear programming is used to measure the best outcome such as maximum profits or lowest costs. It is
used by HR planners to determine the future supply of personnel based on achieving the best staffing
outcome while taking into account certain constraints such as labor costs.

Movement analysis is used to analyze the chain or ripple effect that promotions or job losses have on the
movements of other personnel within an organization. HR planners use movement analysis to select the
desired mix or percentage of internal versus external supply for those positions requiring replacements.

Forecasting is the process of making statements about events whose actual outcomes have not yet been
observed. HR forecasting is about estimating the future demand and supply of human resources within an
organization.

Additional Materials

From your course textbook, Managing Employee Performance and Reward (2nd ed.), read the following
chapters:

Developing person-based base pay systems

Employee benefits

Overview of performance-related rewards

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file:///C|/Users/CWATKIM/Desktop/Forecasting%20Human%20Resources.html[3/8/2020 11:20:23 PM]

Individual performance pay plans

From the South University Online Library, read the following articles:

Who Will Be Where When? Forecast the Easy Way

An Opportunity Labor Demand Model and Markovian Labor Supply Models: Comparative Tests in an
Organization

The Implementation of Workforce and Succession Planning in the Public Sector

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