HR- MPR- Supply Forecasting
Supply Forecasting:
Supply forecasting means to make an estimation of supply of human resources taking into consideration the analysis of current human resources inventory and future availability.
The first step in supply forecasting is to take a stock of existing HR inventory as follows.
(a) Head Count:
Count of the total number of people available department-wise, sex- wise, designation-wise, skill-wise, pay roll-wise etc.
(b) Job Family Inventory:
It consists of the number and category of employees of each job family i.e. the jobs related to the same category like office staff, sales and marketing staff, production staff, maintenance and industrial engineers, quality control engineers etc.
(c) Age Inventory:
It consists of age-wise numbers and categories of employees. This gives us the age composition of human resources. Dynamism, creative abilities and innovativeness is present in young employees while making proper judgment and display of maturity is shown by elderly employees.
Organisations prefer both young and old employees. Human resource planning should give due consideration to age-wise human resources mixing young and old employees in due proportions.
(d) Inventory of skill, experience, values and capabilities:
Organisation should take a stock of present inventory of skill, employees with number of years of experiences (10 yrs, 15-yrs, 20 yrs and more etc.), values and capabilities.
(e) Inventory of Qualifications and Training:
This consists of educational qualifications of the employees academic and technical and special qualifications if any and the training received by the employees.
(f) Inventory of Salary grades:
This includes pay and allowance-wise and total emoluments-wise stock taking.
(g) Gender wise Inventory:
Inventory of male and female employees of the organisation.
(h) Local and Non-Local-wise Inventory:
It includes the stock of local employees and the employees belonging to other areas such as different states of India.