Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

help lila make a positive feeback to her friends assignment, The human resource planning model comprises three key elements: forecasting, workforce analysis, and development of

help lila make a positive feeback to her friends assignment, The human resource planning model comprises three key elements: forecasting, workforce analysis, and development of action plans. Forecasting involves predicting future human resource needs based on organizational goals and external factors like market trends, technological advancements, and economic conditions. Workforce analysis assesses the current workforce's capabilities, identifying gaps between present competencies and future requirements. This step includes evaluating employee skills, performance, and potential. The development of action plans focuses on strategies to bridge these gaps, such as targeted recruitment, training programs, succession planning, and retention initiatives. These elements are closely interrelated; accurate forecasting informs workforce analysis by providing a clear picture of future needs, and together they guide the formulation of effective action plans to ensure the organization is well-prepared to meet its objectives. External forces such as economic conditions, technological advancements, regulatory changes, and competitive dynamics significantly influence a firm's strategy, shaping its human resource planning and overall approach to achieving organizational goals. Understanding and responding to these forces are crucial for maintaining a competitive edge and ensuring long-term success

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Hospitality Financial Accounting

Authors: Jerry J Weygandt, Donald E Kieso, Paul D Kimmel, Agnes L DeFranco

1st Edition

0471270555, 9780471270553

More Books

Students also viewed these General Management questions