Reasons for manpower planning. Latest News: Top News Today & Headlines, Breaking News, Live News, Current News, Latest Updates 2022-11-16
Reasons for manpower planning Rating:
Business scandals are events that occur within a company or organization and involve unethical or illegal behavior that harms the company or its stakeholders. These scandals can have a wide range of impacts, including financial losses, damage to reputation, legal consequences, and negative effects on employees and customers.
In recent years, there have been several high-profile business scandals that have garnered significant attention from the media and the public. These scandals have involved a wide range of industries, including finance, technology, and healthcare.
One notable example of a current business scandal is the ongoing controversy surrounding the video game company Activision Blizzard. In 2021, the company faced backlash from players and the gaming community for banning a professional gamer for expressing support for the Hong Kong protests on social media. Many people saw the ban as an attempt to censor political speech and accused the company of prioritizing its business interests in China over its commitment to free expression.
Another example is the financial scandal involving the credit card company Wells Fargo. In 2016, it was discovered that the company had opened millions of unauthorized bank accounts and credit card accounts in its customers' names without their knowledge or consent. This fraudulent behavior resulted in significant financial losses for the company and its customers, and led to regulatory fines and legal consequences.
The healthcare industry has also been plagued by business scandals in recent years. For example, the pharmaceutical company Purdue Pharma, maker of the opioid painkiller OxyContin, has been accused of contributing to the opioid epidemic by aggressively marketing the drug and downplaying its risks. The company has faced numerous lawsuits and legal actions as a result of these allegations.
These business scandals illustrate the negative consequences that can arise from unethical or illegal behavior within a company. They also highlight the importance of corporate responsibility and the need for companies to prioritize the well-being of their stakeholders over their own profits.
Factors Affecting Human Resource Planning
The materials and equipment management system commits to make sure that the appropriate quality and quantity are selected, purchased, transported, delivered, and handled on-site in a timely manner and at a reasonable cost. You will get an idea about ratio-trend analysis method of forecasting or estimating the manpower requirement in respect of foremen. Thus, how many skilled workers, semi-skilled workers and unskilled workers will be needed, how many employees will be needed to operate machines, to work in the office and to perform various other jobs should become clear to the management from the forecast prepared for manpower demand. Quantitative Approaches: Quantitative approaches to forecasting involve the use of statistical or mathematical techniques; they are the approaches used by theoreticians and professional planners. Using your roster means you can identify the available resources to take on a new project, ensure that the labor cost fits within the budget for the project, and adjust accordingly. Sometimes sophisticated technologies are forcefully introduced, only due to the fact that competitors have adopted them.
Achieving the accurate Engineering estimate required the quantity take-off engineer to extensively approach all the stakeholders of the project to obtain all the relevant information required to calculate the cost. It is usually the top management that formulates the vision and translates the vision into objectives. Hence, planning a redundancy strategy which helps manage the redundancy process and also helps figure out when action is required, well in advance, ensures safety of the organization and prevents it from damage. Factors Affecting Human Resource Planning — External Factors and Internal Factors that Affect HRP The factors that affect HRP can be classified into external factors and internal factors as under: 1. Fourth, calculate human resources demand by dividing the business factor by the productivity ratio. To meet the needs of expansion and diversification programmes.
The stochastic solution is difficult to find but provides a more realistic picture of the hiring policy; as recruiting becomes more expensive the firm decreases the hiring level and relies more on subcontractors to satisfy peak demand. With the greater precision provided by ERP, warehouse managers can get real-time data on their inventory to make more accurate business decisions. . Gaimon and Thompson 1984 developed a model that looks at an organization in terms of cohorts, i. For this estimation, the number, type, qualifications, qualities etc. The future manpower requirement should be forecasted qualitatively and quantitatively. Since an organization collects information for undertaking planning process and relevant part of this information is also used in HR planning process, HR planning may be either proactive or reactive.
Latest News: Top News Today & Headlines, Breaking News, Live News, Current News, Latest Updates
Some of the factors affecting human resource planning are:- i. Demographic Factors: The demographic factors like average age of the working population, gender-mix etc. Within the broad parameter of objectives, priorities have to be ordered and performance indicators specified in quantifiable or measurable terms. The top management then reviews this succession strategy made by personnel managers and then based on the review presented, plan out a succession strategy for the entire organization. Fulfilment of other Objects: Manpower planning is also helpful in the fulfilment of some other objects like the implementation of the scheme of modernisation, the expansion of business and, industrial enterprise, the improvement of labour relations, the increase in productivity etc.
(PDF) Types of Educational Planning/Reasons for Planning Education
Effective Management of Change: Proper planning is required to cope with changes in market conditions, technology products, and government regulations in an effective way. An organization has different strategic option- stability, growth, and retrenchment. Execution of the plans and evaluation of the manpower planning: The plans prepared for obtaining additional employees or for reducing the excess number of employees is implemented. A number of people retire every year and a new batch graduates ever year. Professions that require special licenses include law, medicine, piloting aircraft, selling liquor, radio broadcasting, selling investment securities, selling used cars, and roofing. While forecasting or estimating manpower requirements, the existing job design and analysis is required to be reviewed thoroughly keeping in mind the future required capabilities, knowledge, skills, etc. Efforts are made in manpower planning to assure the timely and sufficient supply of labour, thus, avoiding the shortages and surpluses of labour which leads to save and control labour costs.
Organisational effectiveness over a period of time can be assessed by statistics prepared. Thus the foremost necessary factor to try and do is to integrate a correct change in scope management set up such a proactive approach that might be adopted involving the project stakeholders and incorporating their needs throughout the project lifecycle. Man power planning motivates the existing employees and creates favourable psychological climate for motivation. To ensure productive and efficient utilization of human resources and reduce manpower wastage. Particularly in the area of management succession, manpower planning makes a very useful contribution. Preparing Manpower Inventory: The main purpose of manpower planning is to avoid the situations of overstaffing and understaffing and for this purpose a stock of existing manpower is to be assessed.
Continued supply of able and quality managers and other subordinates is essential for achieving the pre-determined goals of the enterprise. Manpower planning helps the higher management in making decisions that are beneficial for the company and last for a long period. To the extent HRM functions are outsourced, HR planning workload gets reduced. Phase IV — Monitor, Evaluate, and Revise: Ongoing evaluation and adjustments are imperative in workforce planning and are keys to continuous improvement. Therefore, organizational policies should be identified and incorporated in planning process. HR needs and supply information affects HRP.
Objectives of Human Resource Planning: Top 8 Objectives of HRP
Other reasons of wastage may be expansion and modernisation of plant, retirement, promotion, transfer and training of workers etc. Depending on the vendor, it can be possible to integrate an ERP system to a project management system. Government plans and programmes, employment policy, demand and supply, manpower in future, productivity of labour and other factors of production and replacement needs. He brings with him certain traits and characteristics and vast potentialities. In the era of industrialization, structured HR planning has become a really important aspect. The plans interact with manpower planning issues at every given stage in all these areas of human resources. Medium and Long Range Plans: Manpower plans for the next 5 years and next 15 years synchronised with the national 5-year plans should also be drawn up periodically apart from the annual plans.