Question

In: Finance

Are you or your immediate supervisor involved with staffing decisions? If so, are you aware of...

  1. Are you or your immediate supervisor involved with staffing decisions? If so, are you aware of how staffing forecasts are prepared in your organization? Describe an example

3. As a manager, you must either review or prepare required data, your responsibility is to recall and apply the elements of consistency. Why?

4. If you reviewed a budget at your workplace do you think the major increases and decreases could be explained? Why or why not?

Solutions

Expert Solution

Staffing- It is the process of hiring human resource in company.

Staffing decision is one of the most important decisions of company, company runs because of its people so a staffing process brings best human resource for company.

Answer(3): Staffing forecast- It is a process of anticipating the need of human resource and the number of employees in the future. It is done so that suitable and best employees may be recruited and company can achieve its goals with the help of its human resource.

Staffing forecast process: Elements that are considered in staffing forecast process:

  1. Evaluate the staffing needs- Firstly, analysis of number of employees needed and for which post and what will be the salary package, experience, qualification etc. are done. What is the available work force and can there be internal transfer or recruitment, if yes then, internal employees should be given priority for promotion and transfer.
  2. Analyze current job market- Human resource manager should analyze the current market trends in the job market, what are the company's norms, industry standards, salary standards etc.
  3. Preparing plan- After analyzing all the aspects, HRM should prepare a plan of staffing forecast, when will the applications be released for recruitment and what will be the selection process etc. HRM should also plan for company's budget for recruiting employees.

Answer(4): If you review a budget at your workplace, there may be major increases and decreases, that depend upon the current job market scenario. If there is recession in economy or slowdown then requirement for staffing will be lower and on the other hand, if economy is in boom and there are job creators then company will need more human resource in the future.


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