Human resource planning is the act of assessing and determining human resource availability and demand so that the company may achieve its goals. HR planning is concerned with ensuring that the company has the appropriate amount of human resources, with the appropriate competencies, at the appropriate times, and in the appropriate locations.
The followings are the objectives of human resource planning:
1. To assure that the organization's human resources are used to their full potential.
2. To analyse or anticipate the organization's future skill requirements.
3. Implement control mechanisms to guarantee that essential resources are available when and where they are needed.
4. There are a number of specific reasons why personnel planning and forecasting activities are important. They are described in further detail below:
- Creating a connection between personnel and organisational planning
- To figure out how many people are interested in working for you.
- To foresee the need for redundancy.
- To figure out what the best training levels are.
- To serve as a foundation for management development initiatives.
- To put a price on labour.
- To make productivity negotiating easier.
- To determine future accomodation needs.
- To investigate the value of service functions and the cost of overheads.
- To determine if a specific activity should be subcontracted, and so on.