Page 47 - DMGT406_HUMAN_RESOURCE_MANAGEMENT

Human Resource Management

Notes  The HR Planning process, should be tuned to organizational objectives and strategies.
 It includes forecasting the demand for employees, preparing manpower inventory,
determining manpower gaps and formulating HR plans.

 While developing HR Plans, managers should scan the external environment carefully to
identify the effects of economic, social, competitive and governmental influences.

 Rightsizing is about reordering the important and changing priorities of complex business.
It refers to the transformation or changing of vast resources, technological, physical,
manpower, and complex process, with the change in the business strategies and polices.

 There are many factors that would affect human resource management. However, the
main four are considered to be: Political Climate, Economic Climate, Company Strategies
and Technological developments.
 HRIS is a computerised system that assists in the processing of HRM information. It
supplies up-to-date information about people and jobs in an organisation at a reasonable
cost.
 HRIS offers a wide range of HR uses, the most basic being the automation of payroll and
benefit activities.
 HRIS can be set up through a four step process: identifying the needs of a firm, organising
flow of information, implementing the plan and evaluating the whole exercise to find
gaps and to rectify things in time.

2.8 Keywords

Audit: The audit looks at what had occurred in the past and at present in terms of labour
turnover, age and sex groupings, training costs and absence.
Benchmarking: Measuring the performance of processes within your organisation, comparing
these performance levels with the best in class companies and where deficiencies exist, using the
information on the best practices too improve your organisation's own business processes
(Kehoe).

Diversity: The situation that arises when employees differ from each other in terms of age,
gender, ethnicity, education, etc.
Forecasting: It is the process of identifying expected future conditions based on information
from the past and present.
Globalization: The tendency of organizations to extend their sales, ownership and/or
manufacturing to new markets.
Human Resource Information System: An integrated system designed to provide information
used in HR decision-making.
Human Resource Planning: The process of getting the right number of qualified people into the
right job at the right time, so that an organisation can meet its objectives.

Inventory: Stock taking of the current employees in the organization.
Investigation: It is the primary stage of HRP in any organisation. In this stage, organisations try
to develop their awareness about the detailed manpower scenario with a holistic view, looking
at their current manpower.
Reengineering: Radical, quantum change in an organization.

40 LOVELY PROFESSIONAL UNIVERSITY