Human Resource Planning and Retention
Human resource planning can be described as the process of identifying and examining the need and availability for the human resource so that the company can meet its goals or objectives. The primary focus of human resource planning is to make sure that the firm has the required or right number of resources with the right capabilities within the right time and place. During the process of human resource planning, the company must consider the allocation as well as the availability of the people to the jobs over the long period and not just for the sake of the future. Further, the human resource plans can comprise of several approaches. The action may entail shifting the worker to other jobs in the company, firing or laying off workers and cutting back the number of employees. Other actions may include retaining the present workers as well as increasing the number of workers in a particular sector or area. During this process, some of the factor to consider includes skills, abilities, current knowledge, and the expected vacancies resulting from transfers. Retirements. Discharges and promotions. More so, human resource planning requires increased effort from the human resource professionals working together with other organizational executives and managers. The vital human resource function revolves around the staffing, retaining, employing and recruitment of employees. Projecting the needs of the workers and identifying how to retain workers are the primary components of the function
The human resource planning process is also a crucial area that most organization rely on. The process begins with a review of the organizational human resource strategic plans. The next step is assessing the external as well as the internal workforce. This step entails external conditions and the influences in the organization. Internal workforce capabilities and KSAs also falls under this step. The next step has to do with compiling the human resource planning forecast. This step also entails the demand or the human resources and supply of human resources. The last steps in the development of human resource staffing plans and actions. The step comprises of selection process and action, employee retention and turnover utilization and retention sources and means. Once “those assessments are complete, forecasts must be developed to identify both the demand for and supply of human resources. Management then formulates HR staffing plans and actions to address imbalances, both short term and long-term”
Retention of workers as a human resource is part of the HR staffing and planning efforts. The turnover is the opposite of retention. Retention of workers has been a hot topic over a while. Retention of workers in these hard times of corona is pandemic can be hard to be realized by the most organization. It is also important for the human resource professionals to study why the employees leave mot organization without any specific lay off the program. In hard times where the business may not be achieving its goals of maximizing the profit, most organizations end up reducing the salaries of most workers. This makes them leave the organization as they look for new opportunities. At times there might be a reduced rate of retention due to training. The organization may only train its workers for other employees who have better benefits and compensations. Retention may be hard to experience during organization changes for instance mergers and acquisitions. A lot of employees may not feel part of the new organization making them leave the organization. Further, some of the drivers of retention include organization as well as managerial factors, reward, compensation performance as well as benefits, career development and training, employee-supervisor relationship, employee policies and the practices and job and work life. Another retention aspect that is crucial to the most organization is the possible human resource retention metrics. The retention measurement and assessment sources comprise of occupational types, experience components, department specialities and demographics. Similarly, retention return on investment, training and employee replacement cost are integral retention measurement metric.
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