Question & Answer: (1.) Describe the steps in the process of human resource planning. Explain the relationships…..

1. There are five steps in human resource planning

• Assessing Human Resources

The assessment of HR begins with environmental analysis, under which the external (PEST) and internal (objectives, resources and structure) are analyzed to assess the currently available HR inventory level. After the analysis of external and internal forces of the organization, it will be easier for HR manager to find out the internal strengths as well as weakness of the organization in one hand and opportunities and threats on the other. Moreover, it includes an inventory of the workers and skills already available within the organization and a comprehensive job analysis.

• Demand Forecasting

HR forecasting is the process of estimating demand for and supply of HR in an organization. Demand forecasting is a process of determining future needs for HR in terms of quantity and quality. It is done to meet the future personnel requirements of the organization to achieve the desired level of output. Future human resource need can be estimated with the help of the organization’s current human resource situation and analysis of organizational plans an procedures. It will be necessary to perform a year-by-year analysis for every significant level and type.

• Supply Forecasting

Supply is another side of human resource assessment. It is concerned with the estimation of supply of manpower given the analysis of current resource and future availability of human resource in the organization. It estimates the future sources of HR that are likely to be available from within an outside the organization. Internal source includes promotion, transfer, job enlargement and enrichment, whereas external source includes recruitment of fresh candidates who are capable of performing well in the organization.

• Matching Demand And Supply

It is another step of human resource planning. It is concerned with bringing the forecast of future demand and supply of HR.The matching process refers to bring demand and supply in an equilibrium position so that shortages and over staffing position will be solved. In case of shortages an organization has to hire more required number of employees. Conversely, in the case of over staffing it has to reduce the level of existing employment. Hence, it is concluded that this matching process gives knowledge about requirements and sources of HR.

• Action Plan

It is the last phase of human resource planning which is concerned with surplus and shortages of human resource. Under it, the HR plan is executed through the designation of different HR activities. The major activities which are required to execute the HR plan are recruitment, selection, placement, training and development, socialization etc. Finally, this step is followed by control and evaluation of performance of HR to check whether the HR planning matches the HR objectives and policies. This action plan should be updated according to change in time and conditions

5. Advantages of diversity in workplace are

1. Increased Productivity: Diversity and Inclusion brings in diverse different talents together working towards a common goal using different sets of skills that ignites their loyalty and increases their retention and productivity
2. Increased creativity and Problem solving: With so many different and diverse minds coming together many more solutions will arise as every individual brings in their way of thinking, operating and solving problems and decision making
3. Attract and Retain talent that add a competitive edge to any organization. Feeling included and appreciated increases loyalty and feeling of belonging.
4. Help to build synergy in teams and enhances communication skills that brings in new attitudes and processes that profit the whole team
5. Applying the proper diversity& inclusion management strategies does not only save money on litigation expenses generated by discrimination lawsuits but is the right thing to do for the business.
6. It increases market share and create a satisfied diverse customer base by relating to people from different backgrounds.