Human Resource Planning (HRP) - Definition & Meaning
What is Human Resource Planning (HRP)?
Human Resource Planning (HRP) is the continuous process of planning the human resource of an organization to meet the demand in terms of numbers and the quality. The process involves the critical task to balance the supply and demand of human resource to optimally utilize the resources. The activities of recruitment, generating a pool of candidates for future, forecasting the demand etc. are critical to this process.
Advantages: Proper planning helps in the following:
- Meeting the manpower requirements on time
- Getting suitable candidates
- Avoids the loss due to shortage of manpower
- Predicting the future labour market conditions
Human resource planning consists of:
• Hiring
• Recruiting
• Compensation
• Benefits
• Training
• Evaluation
it is viewed as the subset of overall organization planning. Through human resource planning we try to forecast the future demand of work force in an organization and required supply of right people for it. In other words in human resource planning we try to acertain the requirement of human resources by an organization together with sources of meeting it. Thus we finally end up by an effort to align both for the growth of an organization
Why human resource planning?
• To reduce Waste in employing people.
• To lessen the uncertainties about manpower levels & future needs.
• To stop the profit-eroding effects of being over or understaffed.
• To prepare succession plans.
• To shape the optimum future work force by hiring the right managers and skilled workers.
Human resource planning is a broad and a proactive process carried on quarterly or annually by various organizations.it serves a starting point for recruitment and selection process in an organization
Hence, this concludes the definition of Human Resource Planning (HRP) along with its overview.
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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