Very good morning to all present over here. Myself DRC.
Today my team will be presenting a
Human Resource group presentation on the topic “HR DEMAND FORECASTING
TECHNIQUES”.
So, without further a due, let’s dive right into the presentation.
Slide 2 & 3- Introduction
Our presentation is related to HR Demand forecasting. Here we will be focusing on Intro,
Quantitative methods, Qualitative methods, company insight, imp, research findings,
checkpoints, comparison, and at last what do we conclude from the presentation?
It refers to the firm’s future need for human capital, the types of jobs, and the number of
positions that must be filled for the firm to implement its strategy. For example- auto
companies like ford, and BMW bring electric vehicles to market so they will ask
themselves what proportion of their total auto sales will be expected to come from electric
vehicle sales over the next 10 years. They will get certain answers to the following
question- 1. Impact of technologies 2. Kind of materials they will be using 3. Methods of
manufacturing 4. No employees are required to design and manufacture.
Reasons to Conduct Demand Forecasting-
There are several good reasons to conduct demand
forecasting. It can help:
(i) quantify the jobs necessary for producing a given number of goods, or
offering a given amount of services
(ii) determine what staff mix- i.e. achieving a specific mix of different types of
personnel, with an increasing interest in evidence about the value and
contributions of different staff mixes to the patient, personnel, and organizational
outcomes. is desirable in the future
(iii) assess appropriate staffing levels in different parts of the organization
to avoid unnecessary costs
(iv) prevent shortages of people where and when they are needed most;
and
(v) monitor compliance with legal requirements about the reservation of
jobs.
Factors that can help to forecast the demand for human
resources in an organization-
External environmental challenges
These challenges arise from some sources such as economic
developments, political, legal, social, and technical changes, and
competition.
For example, at the time of liberalization, the opening up of the banking
sector, and capital market reforms, the online trading systems created a
huge demand for finance professionals during 1990-1995 in India. The
demand for certain categories of employees and skills is also influenced
by changes in political, legal, and social structure in an economy from
time to time.
Organizational Decisions
HRP needs to take into account the rest of the organization’s strategic
plans, sales and production forecasts, and new ventures to be more
accurate.
For example, estimating changes in product or service demand is a basic
forecasting concern, as is anticipating changes in national or regional
economics which enable the planning expert to forecast the requisite
production schedules and thereby estimate whether any extra workforce
is needed in the future.
Workforce Factors
Demand is not only influenced by the above factors but by the internal in
and outflux of the employees through retirements, terminations,
resignations, deaths, leaves of absence, etc. at the same time.
These actions by employees become fairly predictable, once they spend
more and more time with the organization and the above factors will
affect how much labor will be required, given the expected productivity or
work rate of different types of employees and the expected volume of
business activity.
Now moving on to the next slide Aditya will discuss its importance.