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Assignments - Essentials of HRM
Assignments - Essentials of HRM
Human resource demand forecasting is the practise of predicting future human resource
requirements, including the number and quality of workers required. For the projection to
be accurate, it has to be based on the company's annual budget and long-term business
plan. In a manufacturing company, the sales budget would be transformed into a
production plan that details how many and what kinds of products would be produced
each quarter. Using this data, the number of hours needed to satisfy each period's quota
by each skilled group would be computed. Knowing how many hours are available and
what kind of employees are needed is an apparent next step. To accurately predict HR
demand, a wide range of external and internal factors must be considered. External
influences include, for example, competition (both local and international), the economic
climate, laws and regulatory bodies, technical advancements, and social concerns.
Internal factors include budget constraints, production levels, new products and services,
organisational structure, and employee separations. Organizations often estimate demand,
even though they may not be able to predict the number of employees they will need to
meet it.
❖ Ratio-trend analysis – The purpose of ratio analysis is to discover the connection
between staffing needs and another component by making use of historical data.
This component is often focused on the product, such as the number of items
produced or the amount of sales, or on the prior personnel levels. In most cases,
positions that involve the manufacturing of a company's goods or provision of its
services are the ones that make use of production-based ratio analysis. A ratio
analysis that is based on historical employment is often employed in order to
estimate the needs for the support or administrative personnel. An organisation
that produces 6,000 cogs per year and needs one machinist for every 6,000 of
those cogs is an example of a predicted ratio.
❖ Work study techniques – Forecasting future activities and output is done using
the work study approach, which is also known as workload analysis. The work
study approach yields an estimate of the number of hours of labour required to
manufacture one item. Experts in human resources management must take into
account the following when forecasting future work hours –
a. Resignations
b. Dismissals
c. Strikes a chord with technical issues
d. Absenteeism
e. Rate of changeover
The more knowledgeable the human resources management experts who are
doing the work study technique, the more accurate their estimate of the resources
required will be.
❖ Flow models – Flow models are used to estimate staffing needs. It is the Markov
model. Experts will –
a. Determine the time needed to cover. Usually, shorter is preferable than
longer. The time range relies on the organization's strategic goal and HR
plan.
b. Create employee categories (or "states"). These groups cannot overlap,
and each individual must be allocated to every conceivable category. No
number of states is optimal.
c. Count the number of yearly migrations (or "flows") between states
throughout time. Depending on whether the corporation produces or loses
money, these states are "absorbing" or "non-absorbing" (change in
position levels or employment status). Death, sickness, absenteeism,
resigning and retirement are losses. Hiring, rehiring, switching jobs, and
levelling up or down are gains.
d. Determine the likelihood of change based on prior events. Moving affects
demand.
❖ Other forecasting techniques - The new venture study will be useful for new
businesses when they are thinking about filling open positions. Planners are
required to make estimates of human resource requirements based on the needs of
other businesses that do comparable activities.
Answer -2 ->
It's been a long time since the days when 'death by PowerPoint'-style induction
programmes were the norm. Innovative, engaging, and personalised induction
programmes are becoming more popular among organisations of all kinds.
30% of new employees leave their employer within the first 90 days, according to a
Jobvite survey. The importance of making a good first impression may be shown in this
example. When it comes to a company's connection with employees, it's all about mutual
respect.
Some of the most innovative companies in the field of employee orientation include
Netflix, Twitter, and even LinkedIn, all of which welcome new hires with custom-
tailored gifts and activities.
2. Create a feeling of belonging for your new hires - Existing employees are often
omitted from orientation programmes. This develops a false "them vs us" mindset
if allowed unchecked. Informal gatherings, such as team lunches, late-night snack
breaks, and team-building exercises, might help newcomers overcome feelings of
isolation. Assigning a "Buddy" member to each newbie is another excellent way
to promote a sense of belonging. A buddy may be any current team member from
the same department. They are there for newcomers to connect with if they have
questions, concerns, or even insights. Their Buddy may also aid in introducing
them to other team members and establishing conversations with them. Having a
friend helps newcomers feel welcome and facilitates the formation of good
relationships with the rest of the team. New employees at Netflix are handed cards
in the form of bingo, and those cards are marked each time the employee gets
together with a colleague for a break such as lunch or coffee. After all of the
spaces on the card have been filled in, they are given a present.
4. Provide them with a break before they start working - This strategy has
previously been used by a number of technological organisations, and it is an
effective way for quickly grabbing the commitment of a new employee. These
companies provide their newly hired staff members a particular sum of money
and a set number of vacation days along with it, so that they may start their new
employment feeling rejuvenated and calm. If you do not have the resources
necessary for this, you may want to think about starting them in the middle of the
week instead so that they have some time off between their prior job and the new
one they will be starting. Alternately, you may try postponing the beginning of
their shift by a couple of hours so that they are not as overwhelmed. It may be a
day at the spa or a relaxing massage before they sit down at their desk, or it could
be a nice lunch on their first day, or it could be both of those things.
Answer -3a ->
❖ Individual Development Plan - It's possible that each designated successor will
have their own unique development plan that's tailored to their own criteria for
how they should be groomed. The committee that is charged with selecting a
successor may devise an individual development plan for each of the candidates,
with the goal of having all of the candidates be prepared to shoulder more
responsibilities within a period of three years.