HR Planning Basics and Challenges

These flashcards cover key terms and concepts related to HR Planning as discussed in the lecture.

HR Planning

A proactive activity to support an organization in achieving its objectives, involving the determination of demand and supply of labor.

Sophistication of HR Planning

Ranges from very simple methods (like guessing) to complex data analytics.

Forecasting Demand of Labour

The process of predicting future labor needs based on various factors, including business changes, demographics, attrition, technological advancements, and legal changes.

Nominal Group Technique

A method used by experts for forecasting demand of labor.

Delphi Technique

A forecasting method that involves a panel of experts providing their views anonymously.

Skill Inventories

A record of the skills and qualifications of employees, often useful in internal labor supply forecasting.

Markov Analysis

A method used to predict transitions between job positions within an organization.

Layoffs

Permanent terminations of employees, usually due to lack of work or reorganization.

Voluntary Severance Packages

Offers made to employees to voluntarily resign from their position, often with financial incentives.

Human Resources Information Systems (HRIS)

Systems to manage employee data, ranging from basic spreadsheets to complex integrated IT solutions like SAP.

Data Quality Integrity

The accuracy and reliability of data within information systems.

Employee/Manager Self-Service

HRIS feature allowing employees and managers to access and manage their personal and payroll information.

Predictive Analytics

Analyzing data to predict future employment needs and trends.