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HR Planning (Objectives (Provide Information, Effective Utilization of…

- - - - Step 4: Forecasting HR Supply
        
        Step 5: Comparing requirements and availability
        
        Step 6: HR Plan Implementation
        
        Shortage of workers
        
        Recruitment, selection and placement;
        
        Training and development;
        
        Retraining and redeployment
        
        Succession plan
        
        Compensation incentives
        
        Surplus of Employees
        
        Restricted hiring
        
        Reduced hours VRS
        
        Lay off
        
        Redundancy plan
        
        Retention plan
        
        Early Retirement
        
        Downsizing
        
        Internal
        
        Skills and Management (HR) Inventories
        
        Succession Analysis
        
        Flow Modeling/Markov Analysis
        
        Current Staffing level - Projected Outflows This Year + Projected Inflow This Year = Unit's Internal Supply For This Time Next Year
        
        External
        
        Information is available Government of Singapore, including MOM
        
        Supply and demand of jobs or skills
        
        Immigration and emigration patterns within an area
        
        Forecasts of economic growth or decline
      - Trend analysis
      - Ratio Analysis
      - Zero-Base Forecast