Human Resource Planning is the process of predicting the organization's demand for and supply of human resources in the near future in order to locate the appropriate amount of people for the right sort of job, at the right time and in the right location.
To put it another way, Human Resource Planning is in charge of assembling the best people for the best jobs from all available resources. Not only that, but it also predicts vacancies that may arise as a result of a worker's development, relocation, retirement, or dismissal, and plans for manpower appropriately.
As a result of the immediate filling of vacancies, the idle time caused by staff churn is reduced, and the business process continues to run normally.
This planning is often done to allow a company to transition from its present personnel position to its targeted manpower position. Human resource planning begins with an estimate of the enterprise's people requirements, followed by the identification of sources from which this need may be met.
Human Resource Planning should prioritise recruiting the appropriate individual for the right job rather than focusing just on filling vacant jobs. It also focuses on improving a current employee's abilities through an interactive training programme, with the goal of ensuring that they are well-equipped with the skills needed in the future to meet the organization's goals.
Human Resource Planning has Four Phases
1. The first step entails acquiring and analysing data via manpower inventories and projections.
2. The second phase entails defining manpower targets and policies, as well as obtaining top management approval.
3. The third step is developing and implementing strategies and promotions to help the company meet its workforce goals.
4. The fourth phase focuses on the management and assessment of personnel strategies in order to promote growth for both the business and the individual. Long-term thinking implies that short-term rewards may be surrendered for long-term reasons. The planning process helps the company to determine its workforce requirements and possible manpower issues that require immediate attention. As a result, performance becomes more effective and efficient.