MBA News | MBA Jobs | MBA Students | MBA Aspirants | MBA Forums
--- CoolAvenues.Com ---
Home    |     MBA Jobs     |     Knowledge Zone     |     Seminars     |     Placement Report     |     Admission Alert      |   MBA Forums
CAT/ MAT/ XAT/ JMET    | CAT 2009    |   Executive MBA    |   GMAT    |   Help Line    |   Online MBA Help   |   Buy/Sell    |   Cafe   |   Gadgets  

CoolAvenues MBA Details
Page title
Join CoolAvenues on
Facebook Twitter Orkut

Go Back   MBA Forums :: > MBA Alumni Area : Management Knowledge Discussion Area > HR Zone

Thread Tools Rate Thread Display Modes
Old 07-08-2009   #1
Active Member
Join Date: Jun 2009
Posts: 26
Thanks: 0
Thanked 4 Times in 3 Posts
Thumbs up “Forecasting - Human Resource Management”

“Forecasting - Human Resource Management”

In the age of competition, companies do not have any other choices than to compete better than their competitors. Human Resource Management has critical role to play in corporate strategic plan. All the HR functions contribute positively to achieving the objective. The main task of HR is to support other departments to have the best people.

Forecasting helps to match the requirements and the availabilities of employees. There are two kinds of forecasting methods: qualitative and quantitative methods. This article discusses how Forecasting are valuable for successful Human Resource Management to function in a company.

Matching human resource requirements and potential human resource availability:

Matching Human resources with planned organizational activities for the present and the future is one of the main problems faced by an organization. Human resources have a certain degree of inflexibility, both in terms of their development and their utilization. It takes several months to recruit, select, place, and train the average employee; in the case of higher-echelon Management personnel in large organizations, the process may take years. Decisions on personnel recruitment and development are strategic and produce long-lasting effects. Therefore, Management must forecast the demand and supply of Human resources as part of the organization’s business and functional planning processes. Long-term business requirements, promotion policies, and recruitment (supply) possibilities have to be matched so that Human resources requirements and availability estimates (from both internal and external sources) correspond sufficiently.

The following factors for the choice of a forecasting technique
1. Organization's environment
2. Organization size.
3. Perceived uncertainty in labor markets and economy
4. Competition.

Forecasting has an important role in successful Human Resource Management of a company. By predicting the number of employees to be hired and also by estimating and knowing their quality, a company would get the best people for the right places and at the right time. This is necessary if a company wants to compete in the global market.

“The most reliable way to forecast the future is to try to understand the present”
John Naisbitt

By Priti Shah
humanresourcemagazine is offline   Reply With Quote


hr magazine, human resource magazine

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Human Resources Manager? Who humanresourcemagazine HR Zone 3 11-27-2012 05:06 PM
Human Resource Management in Agriculture humanresourcemagazine HR Zone 0 07-01-2009 05:18 PM
Career in Human Resource Management humanresourcemagazine HR Zone 0 07-01-2009 05:11 PM
Human Resource Accounting humanresourcemagazine HR Zone 0 07-01-2009 05:03 PM
“Strategic Role of Human Resource Management” humanresourcemagazine HR Zone 0 07-01-2009 11:09 AM

All times are GMT +5.5. The time now is 03:19 AM.

Latest Discussion
Latest Active Threads

Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2016, Jelsoft Enterprises Ltd.
Copyright 2006-2015 Zebra Networks message boards are designed for a community of insiders and observers. reserve the right to delete or modify off-topic posts or posts that violate the Rules of the Board. The opinions expressed on Message Boards reflect the opinions of the participants and not of

© CoolAvenues logo & design template are exclusive copyright of Zebra Networks 2004-20012
© All copyrights with Zebra Networks. Part or full of the contents can not be published, copied or reproduced
in any form without the prior written exclusive permission of Zebra Networks. Pls refer to CoolAvenues Copyright section.