Human Resource Planning and Forecasting - Essay Example

Human Resource Planning and Forecasting *First of all the Granny Toy Company must understand that its workforce must possess all the essential skills by determining the HR demand. While recruiting new employees it will be necessary for the company to select the employees that possess the knowledge, skills and abilities that will be required by the business to progress in the toy market. *Secondly Granny Toy Company must select between the two options that what will be better for the business. They should think whether they should focus on training the current employees or they should hire new employees with new and innovative skills by determining the HR requirement.

*Granny Toy Company must also make sure that the strategy of the business is linked with the performance of its employees. The Company may also allow employees to design the objectives for the Company because it is then that they will be able to develop a better understanding of the goal and will work accordingly to accomplish it. This will also result in improved performance of the employees. * Granny Toy Company must try to work hard to retain the talented workforce of the Company, as the employees are considered to be an important asset of the company.

For this purpose the Company must design an effective compensation and benefit plan for its employees. *The flexible environment provided by the Company to the employees also affects the staffing process. The environment of the Company must be easily adaptable i.e. it should be flexible enough that new employees can easily adjust in it. *When new employees are being hired by the Company for their expansion and additional products it is important that the Granny Toy Company gives them enough time to develop their skills and adjust in the organizational environment.

They must train them with the skills essential for the position they are about to cover. Sometimes time can be an essence for Granny Toy Company. In such a case it will be effective that the company selects employees with the required skills within the organization i.e. the internal supply of employees, as it will save a lot of time and will reduce the HR cost.*The external environment forecasting (Event based forecasting) may also impose certain impact on staffing needs of the competitors existing in the industry.

*Some legal factors such as certain laws related to the labor and some socio economic factors such as the number of women working in the respective industry etc. may also affect the staffing process of Granny Toy Company; therefore the company must foster employment equity. *Another important factor that affects the staffing process in the Granny’s Toy Company is the size of the organization. It may impose a major effect on the staffing of the employees (Kokemuller, 2013).The forecasting that will be most effective for Granny Toy Company is event based forecasting i.e. the company must monitor and predict the changes taking place in the external environment and they should come up with a solution accordingly.

When the old employees of the company will be referring the new employees for the organization it will be good for the overall organizational environment as the old employees will be familiar with the new ones hence they would not have to work hard to create a rapport. Training will be important for the old employees of the organization, as they require new skills to continue will their jobs effectively. The organization may deal with the generation gap between old and new employees by giving them more opportunities to interact.

It would be better if the old employees are given a task that has to be completed while working in coordination with the new employees. ReferencesKokemuller, N. (2013). Internal & External Factors Affecting Internal Staffing. Retrieved June 17, 2014, from http://work.chron.com/internal-external-factors-affecting-internal-staffing-29537.html