Statistical techniques assist small-business owners in measuring data, defining relationships and identifying long-term trends. Industry standards or information gathered from observing the competition becomes the base for identifying determinants known as causal factors to predict future staffing needs. In the beginning of the product life cycle, relatively small expenditures are made for research and market investigation. Labour Wastage: Labour wastage should be taken into account while making future forecast and find out the reasons of people leaving the organisation. When using linear regression it is very important that the equation accurately summarises the past relationship between the two variables. Each of these tasks is vital in assessing the current manpower situation and in creating annual forecasting plans.
Qualitative Assessments Statistical techniques focus on the quantitative side of manpower planning. This information is translated into number of man-hours required to produce per units taking into consideration the capability of the workforce. Libri 23 3 1973 181- 209. July 21, 1978 50- 54. Under this method, estimated total production and activities for a specific future period are predicted. Employees associated with obsolete programmes generally will not be kept on unless they can be retrained or their skills utilised elsewhere. If the estimate of likely student enrollment in 2000 is inaccurate, then the prediction based upon it is less likely to be accurate.
For measuring permanent total loss due to labour the following labour turnover formula is used. However, a combination of both the approaches i. Disclaimer: We are not affiliated with any university or government body in anyway. Record 76 10 1974 205- 207. Moya-Angeler , A model with shortage of places for education and manpower systems, Omega 4 6 1976 719- 730. Plan to modify or adjust the organizational plan if future supply will be inadequate with reference to future net reqiurements.
Department of Education and Science, Statistics of education, Vol. A scatter plot is another option. All other items are general in coverage, or refer to specific other occupations. Bartholomew , Manpower planning literature: statistical techniques of manpower analysis, Dept. Ratio analysis: Another approach, ratio analysis, means making forecasts based on the ratio between 1 some causal factor like sales volume and 2 the number of employees required for instance number of sales people.
The forecasts so prepared sent for review to the departmental heads and after their consent approved the need. If projections determine the business will handle 500 clients or produce 500,000 widgets over the coming year, forecasting sets demand at 100 employees for each. Man-hours required for each unit is calculated and then number of required employees is calculated. PowerPoint Presentation: Perceptions Employee perception relates to attitude in that it is the result of past experience. Decisions on issuing stock or debt to maintain the desired financial structure require forecasts of money and credit conditions.
Some of the techniques are quite simple and rather inexpensive to develop and use. Managers can identify the particular skills and abilities of the present employees to help develop effective career paths for them. Under these models relationship is established between the dependent variable to be predicted e. Once input is received and placed in an organised form, the group leader attempts to gain a general agreement on the manpower. Forecasts of cash flows and the rates of expenses and revenues are needed to maintain corporate liquidity and operating efficiency. Steps in Manpower Planning Process : The steps in manpower planning are discussed below: 1. A variety of forecasting methods are available.
Indicating where and when staff are currently employed within the organisation. These two factors, in turn, determine the length of the planning horizons, the type and quality of information available to manpower planners and the nature of jobs to be filled. External Factors: External factors can be grouped into local and national factors. Human resource planning must continue to attract and retain workers by keeping an affirmative perception. Forecasting Manpower Needs Demand : Manpower demand refers the total human resource needs of an organisation for a given time period. In other words, most of our techniques are based on historical data. Generally speaking, a long-term forecast tends to be more inaccurate than a short-term forecast because of the greater uncertainty.
Manpower Services Commission , Towards a comprehensive manpower policy 1977. Forecasts are needed for money and credit conditions and interest rates so that the cash needs of the firm may be met at the lowest possible cost. Trends in manpower needs in information science from 1967 to 1982, J. The purpose is to identify trends that might continue into the future. Especially if the organisation has always hired locally, this forecast may have implications for training to fill gaps. Human resources forecasting seeks to secure the necessary number and quality of employees for a business to achieve strategic goals.
If you think of revenue obtained by the organisations this loss to some extent is subsided. Strong leadership fosters group pressure for unanimous opinion. Short-term Forecasting: Short-range forecasts usually grow out of normal budgetary processes. On this basis, the manager must estimate the future cash inflow and outflow. PowerPoint Presentation: Employee recognition is one of the most important factors which go a long way in retaining employees. The forecast also predicts the supply of employees to fill these needs. Extensive statistical analysis usually is applied to survey results in order to test hypotheses regarding consumer behavior.
Work study technique : 3. Internal factors include budget constraints, production levels, new products and services and organisational structure. Also, the jury of executive opinions may be the only means of forecasting feasible in the absence of adequate data. The past experiences show that the work ability of each employee in man-hours is 1500 hours per annum. With the help of computers any data is rapidly analyzed.