HR- MPR- HR demand and supply
HR demand and supply are the number of employees or skills needed and available to perform a job. Human resource (HR) planning involves forecasting demand and supply to identify shortages or surpluses and develop plans to address them.
Here are some steps for forecasting HR demand and supply:
HR demand forecasting
Estimate future HR needs based on factors like:
- Employment trends
- Replacement needs
- Productivity
- Absenteeism
- Organizational expansion and growth
HR supply forecasting
Estimate available internal and external HR resources based on factors like:
- Transfers
- Promotions
- Retirements
- New recruitment
- Market conditions