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Assignment 444

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Assignment 444

Uploaded by

hameedrehman051
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Assignment#4

human resource
management
Succession planning process
1. Identify Critical Positions: Determine which positions are crucial to the
organization's success and continuity
2. . Assess Incumbents' Retirement Eligibility and Potential Departure
Dates: Review the incumbents' ages, years of service, and potential
retirement dates to anticipate when vacancies may arise.

3. Identify Potential Successors: Evaluate internal candidates who


possess the necessary skills, knowledge, and experiences to assume the critical
positions.
4. Assess Successors' Readiness: Evaluate the potential successors'
readiness to assume the critical positions. Consider factors such as:
- Current job performance and responsibilities
- Relevant experience and training
- Technical expertise and knowledge
- Communication and interpersonal skills
Replacement chart
 Position | Incumbent | Successor(s) | Development Needs | Readiness
Level

 CEO | Hameed | XYZ | Leadership development, industry


knowledge

 COO | Jane Doe | XYZ | Operational management, strategic


planning

 CFO /Bob Johnson |XYZ | Financial analysis, risk management

 CTO | Michael Brown |XYZ | Technical expertise, innovation


management
Cont.……..

 - Incumbent:
 The current holder of the position.
 - Successor:
 The identified individual(s) to replace the incumbent.
 - Development Needs:
 The skills, knowledge, or experiences required for the successor to
be fully prepared for the role.
 - Readiness Level
 A subjective assessment (1-10) of the successor's readiness to
assume the role.
Benefits of Succession Planning:

 Benefits of Succession Planning:


 1. Ensures continuity of leadership and operations.
 2. Identifies and develops future leaders.
 3. Reduces risk associated with sudden departures.
 4. Enhances knowledge transfer and retention.
 5. Supports strategic planning and business growth.

 Employment Planning

 Employment planning is the process of identifying, analyzing, and


addressing the human resource needs of an organization. It involves
forecasting future staffing requirements, identifying gaps in the
current workforce, and developing strategies to address these gaps.
Steps in Employment Planning

 Forecasting:
 Estimate future staffing requirements based on business objectives, market
trends, and other environmental factors.
 Workforce Analysis:
 Analyze the current workforce to identify gaps in skills, knowledge, and
experience.
 Gap Analysis:
 Compare the forecasted staffing requirements with the current workforce to
identify gaps.
 Strategy Development:
 Develop strategies to address the gaps, such as recruitment, training, and
development.
 Implementation:
 Implement the strategies and monitor progress.
Strategic Planning Process

 The strategic planning process is a comprehensive approach to


defining an organization's mission, vision, and objectives. It involves
analyzing the organization's internal and external environment,
identifying strengths, weaknesses, opportunities, and threats (SWOT
analysis), and developing strategies to achieve the organization's
objectives.

 Steps in the Strategic Planning Process


 Mission and Vision Statement: Define the organization's
mission and vision statements.
 Environmental Analysis: Analyze the organization's internal and
external environment, including market trends, customer needs, and
competitor activity.
 SWOT Analysis: Identify the organization's strengths, weaknesses,
opportunities, and threats.
 Strategy Development: Develop strategies to achieve the
organization's objectives, based on the SWOT analysis.
Corporate goal and objectives
 Step 1: Review the Company's Mission and Vision
Statements
 Step 2: Conduct a SWOT Analysis

 Step 3: Identify Key Performance Indicators (KPIs)


 Step 4: Establish Corporate Goals

 Step 5: Establish Corporate Objectives

 Step 6: Prioritize Corporate Goals and Objectives

 Step 7: Communicate Corporate Goals and Objectives


Demand of labor

 Labor Productivity: If labor productivity increases, firms will


demand more labor at each wage rate, shifting the labor demand
curve outwards.

 Changes in Technology: Technological advancements can


increase labor productivity, leading to an increase in demand for
labor. However, automation can also replace labor, decreasing
demand.

 Changes in Demand for a Firm's Product_: If demand for a


firm's product increases, the firm will demand more labor to produce
the additional output.

 Firm Profitability: If a firm's profitability increases, it will be able


to hire more workers, increasing the demand for labor.
Supply of HR

 1. Population Growth:
 2. Labor Force Participation Rate:
 3. Education and Training:
 4. Wage Rates:
 5. Working Conditions:
 6. Government Policies:
Demand for labor exceed supply
 Organizational strategies
 1. Increase Wages and Benefits:
 2. Improve Working Conditions:
 3. Training and Development:
 4. Recruitment:
 5. Employee Retention:
 Government Strategies
 1. Immigration Policies:
 2. Education and Training:
 3. Labor Market Regulations:
 4. Unemployment Benefits:
Supply for labor exceed demand
 Organizational Strategies
 1. Reduce Recruitment:
 2. Training and Development:
 3. Job Redesign:
 4. Flexible Work Arrangements:
 5. Outplacement Services:
 Government Strategies
 1. Education and Training:
 2. Industry-Led Training:
 3. Labor Market Regulations:
 4. Unemployment Benefits:
 Recruitment Outcomes
 1. Successful Hire: The organization finds a qualified candidate who accepts
the job offer and becomes a productive member of the team.
 2. Unsuccessful Hire: The organization is unable to find a qualified
candidate, or the selected candidate declines the job offer.
 3. Delayed Hire: The recruitment process takes longer than expected,
resulting in a delay in filling the position.
 4. Cost Overrun: The recruitment process exceeds the allocated budget,
resulting in additional costs for the organization.

 Decruitment Outcomes
 1. Voluntary Separation: An employee chooses to leave the organization,
resulting in a reduction in workforce.
 2. Involuntary Separation: An employee is terminated or laid off due to
performance issues, restructuring, or other reasons.
 3. Retirement: An employee retires, resulting in a reduction in workforce.
 Benefits of Effective Recruitment and Decruitment
 1. Improved Productivity: Effective recruitment and
decruitment can lead to improved productivity and
efficiency.
 2. Reduced Turnover: Effective recruitment and
decruitment can reduce employee turnover and
associated costs.
 3. Enhanced Reputation: Effective recruitment and
decruitment can enhance the organization's reputation
and attract top talent.
 4. Cost Savings: Effective recruitment and decruitment
can result in cost savings by reducing recruitment and
training costs.

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