Human Resource Planning - HRP

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What is 'Human Resource Planning - HRP'

Human resource planning (HRP) is the ongoing process of systematic planning to achieve optimum use of an organization's most valuable asset - its human resources. The objective of human resource (HR) planning is to ensure the best fit between employees and jobs, while avoiding manpower shortages or surpluses. The three key elements of the HR planning process are forecasting labor demand, analyzing present labor supply, and balancing projected labor demand and supply.

BREAKING DOWN 'Human Resource Planning - HRP'

The HR plan needs to be flexible enough to meet short-term staffing challenges, while adapting to changing conditions in the business and environment over the longer term. Human resource planning is also a continuous process.

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RELATED FAQS
  1. What are the main goals of human resources planning?

    Learn about human resource planning, a business strategy that heavily incorporates workforce considerations into long-term ... Read Answer >>
  2. At what stage of business should human resources planning occur?

    See why strategic human resources planning is an ongoing process, and learn how an HR department plays a crucial role in ... Read Answer >>
  3. How do companies balance labor supply and demand in human resources planning?

    Find out what it means for a company to balance labor supply and demand, and learn how human resources planning can strategically ... Read Answer >>
  4. How do companies measure labor supply in human resources planning?

    Find out how and why a company's human resources department would measure labor supply, and what policies would address a ... Read Answer >>
  5. What's the average salary of a human resources (HR) specialist?

    Discover the national average salary for a human resources (HR) specialist in the as well as for regions throughout the United ... Read Answer >>
  6. How are labor demand forecasts made in human resources planning?

    Discover how human resource planning might be used to estimate the correct demand for labor in a given market, both qualitatively ... Read Answer >>
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