Human Resource Planning and Staffing Samples †MyAssignmenthelp.com

Question: Discuss about the Human Resource Planning and Staffing. Answer: Background Information The process of determining the future employment requirements and the availability of the working employees and others externally hired to meet the requirements and executing the businesses strategies in an organization is called workforce planning (Chiba, 2017). This is the basis of staffing in many organizations, even in Cherns, since it aids in identifying and addressing the unforeseen challenges in the company when executing business strategies. The five steps in the process of workforce planning include the following: Identification of the strategies Explaining firms philosophies and decisions on staffing. Analyzing of the workforce. Developing and implementing action plans. These help address any gaps between labor supply and demand forecasts. The strategies should go hand in hand with the philosophies of the firms talents. They will include recruiting, compensation, retention, management of succession, training as well as development Monitoring, evaluating and revising of the action plans. The first three steps have been extensively discussed and we will only discuss the last two steps. Overview of Forecasting The ideal business forecasting demands that an organization should identify its key operational factors (Teigen, 2015). This operational factors includes the forecasting of information to compile complete and accurate data in real time. The above steps will improve Cherns ability to make forecast that are accurate about the needs of the staff. According to (Ravazzolo, 2015), the time line for forecasting any business activity will be most essential in the organization and will depend on whether the industry that organization operates is either predictable having a relatively stable environment of between five to ten years forecasting period or has an unstable, dynamic environment of 6 to 12 months period of forecasting. For Cherns its period of forecasting lies within a range of 3 years. These forecast are just dynamic estimates hence should always be revisited and an update done regularly (Chiba, 2017). Since these forecasts are sometimes uncertain, Cherns should develop estimates as ranges that will provide low, probable and high estimates as well as recalculating the estimates as adjustments can happen anytime within the business environment as well as the expectation or the assumption of the firm can change. The specifics of forecasting A firm should be able to predict its labor supply and demand and also locate any reliable, standard sources of information both inside and outside the firm to predict the business operations. Some of the business operation forecasts will include rates of interest, currency exchange rates, competitors, seasonal operations and many others. Forecasting Labor Demand When doing this forecast it is essential to look at the minimal and the optimal levels of staffing to analyze the demand for labor. The demand for labor at Cherns will depend on the forecasted business activity and the needs of the business, that depend on the strategies of the business (Belhaj, 2013). The needs of any business will include the following: achieving the levels of staffing that will help generate a certain amount of revenue at a certain time interval, increasing this levels of staffing to enhance a growth strategy, decreasing this levels of staffing when restructuring the firm or obtaining new skilled talents essential in the creation of new products or services (Ferreira, 2016). Some of the ways that help forecast demand for labor include scatter plots, ratio analysis, trend analysis, and ROI analysis. Forecasting Labor Supply To ensure strategic and good staffing then a firm will have to be keen on their markets for labor. This is crucial for Cherns so as to maintain its competitiveness in the market. During formulation of business strategies then a firm will have to acquire adequate information on the quality and number of employees required in that organization (Apichatibutarapong, 2015). So it will be vital for any company even Cherns to have an appropriate estimate of the available talents for its topmost positions before even coming up with strategies that depend on its talents. In order to forecast the accurate labor supply, Cherns should be able to combine its current levels of staffing and the anticipated gains or losses. This will help give an estimate of the target position for a given time point (Apichatibutarapong, 2015). The losses or gains anticipated in the firm will be looked upon by identifying the data on previous operations, and estimations of future adjustments. All these estimates are affected by the firms internal and external labor market which includes people not working for the firm. To forecast the firms internal labor market, the organization will need to estimate the levels of competency and the employees number at the end of the period of forecasting (Ahokas, 2016). Additionally, it will need to forecast the talent resources, minus the anticipated losses from the employees at the start of the period of forecasting. These losses are as a result of factors such as demotions, promotions, retirements, transfers, and resignations. Any gains that are anticipated will be added. The gains may be from the promotions, transfers among others (Rachid Belhaj, 2013). Various methods are available to help forecast the internal labor market and this include employee surveys, talent inventories, replacement charts as well as the judgments from management. I have made a well description of one very vital method called the transition analysis in this paper. Transitional Analysis Transition analysis refers to a method that is applied to scrutinize the labor markets and predict the internal supply of labor. This technique is quite simple and also very effective in making analysis of the internal markets of labor in an organization. This is very essential, not only in planning of the workforce but also in answering of the questions posed by recruits about the paths of promotions and the promotion likelihood (Chiba, 2017). It also helps predict the employees currently working and are likely to be employed at some point in different positions. Nevertheless, this analysis is best for a limited number of jobs for easy interpretation. The below matrix I have developed will help Cherns to see its predicted employees for the next year. Resolving of the gaps in the labor supply To address efficiently the existing gap between the required number of employees and the current number of employees, the company will be required to design an action plan. This action plan will address efficiently the forecasted surplus or shortage of employees (Ahokas, 2016). In addition, understanding whether a surplus or shortage of applicants is as a result of temporary factors or just a reflected trend likely to go on is also vital since different strategies in staffing are essential. As clearly shown in the transition matrix, Cherns have excess employees. One essential solution to this will be transferring employees to new locations that the company has planned within its five years (Belhaj, 2013). Most of those employees should be transferred to the fifteen stores that this firm plans to open every year. This transfer will enhance increased revenues. These will lower the costs of staffing since new few employees will be required to fill these stores. Additionally, Cherns will also be able to retain its skilled talents contributing to the companys growth. Nonetheless, if this does not happen then Cherns does not have other solutions at its hands whether these surpluses are permanent or temporary. Temporary Surpluses of Employees This happens when a company faces a temporary slowdown. If this occurs each and every time, then the company will need to employ some temporary workers that it can easily retrench when the business operations are slow (Ahokas, 2016). This will help the permanent employees and provide them with job security. Another options are doing layoffs but this should be temporary and need to last for periods more than 6 months to be economical since there will be additional costs of rehiring and retraining. Permanent Surpluses of Employees In this case Cherns should consider implementing permanent laying off of employees, no employing of employees to feel the vacated positions, implement early incentives on retirement, and other methods. These methods could cost the firm. Early retirement of some employees will cause the firm to lose the skilled employees. Layoffs will hurt the workforce as well as damage the firms reputation (Chiba, 2017). Some of the unfilled positions will make the organization departments understaffed. Action plans will be essential to address this surplus and should involve reassigning of employees, steering employees away from the jobs in that position. However, Cherns is also facing high deficit in the full-time sales associate positions, that should be well assessed to maintain the firms competiveness. On the matrix above, Cherns will need to employ at least sixty employees to reach its goal of employing a hundred and forty full-time employees. Also, it needs to have at least 1778 applicants in order to recruit employees to overcome the deficit (Belhaj, 2013). The calculation was based on the previous recruiting data. To determine this number then it is essential to look at the previous yields in staffing as well as the yields in hiring. Based on the above the following chart was developed: Based on the attached documents it can be clearly shown that this shortage is likely to be temporary (Belhaj, 2013). This is because the employment changes anticipated to occur between now and ten years at the current state which this principal store is located almost corresponds the employment changes of the entire nation. When assessing this shortage. It is vital that hiring in this case is reduced since it costs the organization more money. Furthermore, expensive recruiting methods like using of search firms or lowering the standards will not always work in this method. The expensive methods of recruiting employees will always drain the budget of recruiting and not even realize the goal in recruiting (Statistics Norway, 2016). Nonetheless, other methods can still be used to realize the 140 target number of employees. This will include offering of new incentives on hiring such as bonuses on the sign-on as well as bonuses on retention. Persistent Talent Shortage Based on the findings and the conditions above, a shortage of employees may occur and even last for a longer period as per the preferences of consumers (Ahokas, 2016). For Cherns to maintain its competiveness capability in the market then it needs to decrease its demand for the talents and increase its technology innovation and also redesign jobs so that different people with the required talents are only required (Bjrnstad, 2010). Cherns may also increase its supply of the required qualifications since this is more practical and faster. Conclusion I hope that this paper has the required information as per the Cherns staffing needs and its planning in the work force. I am optimistic that this information will be essential in forecasting your business activities. Similarly, it will inform you on the demand and supply for the employees inside and outside the environment of your business. I also hope that all the assessments of any gaps are also efficient in the assessment of your businesses. Recommendations Cherns should continuously and systematically identify the talents of each candidate. Secondly, the company should also build the capacity of its current program. Also it is of utmost significance for the organization to put into consideration succession management, and to treat it as a progressive process. Finally, there is need for the company to ensure that it assesses the competencies of each applicant so as to come up with suiting training programs. References Apichatibutarapong, S. (2015). Business Forecasting Technique on Mobile Devices by Using R - Programming. Suan Sunandha: Faculty of Sciences and Technology, Suan Sunandha Rajabhat University, . Francesco Ravazzolo, a. L. (2015). Forecasting GDP with global components. This time is different. Norway: Norwegian Business School. Karl Halvor Teigen, a. S. (2015). Forecasting forecasts: The trend effect. Judgment and Decision Making, 416428. Jussi Ahokas, J. H. (2016). Forecasting Demand for Labour and Skills with an AGE-model in Finland. Finland: Government Institute for Economic Research. Rachid Belhaj, a. M. (2013). A Markov Model for Human Resources Supply Forecast Dividing the HR System into Subgroups. Journal of Service Science and Management, 211-217 . Kris Johnson Ferreira, B. H.-L. (2016). Analytics for an Online Retailer: Demand Forecasting and Price Optimization. Harvard: Harvard Business Schoo. Roger Bjrnstad, M. L. (2010). Demand and supply of labor by education towards 2030 . OsloKongsvinger. Statistics Norway. (2016). Education-specific labour force and demand in Norway in times of transition. Oslo - Kongsvinger: Statistics Norway. Tomoaki Chiba, H. H. (2017). Time-Varying Transition Probability Matrix Estimation and Its Application to Brand Share Analysis. Plos One.