Human Resource Planning's goal is to help the company get to the targeted manpower position from its existing manpower position by projecting human resource demand and supply in the near future.
Human resource planning has a variety of advantages that have led to its use in a variety of corporate settings. The following are the advantages of human resource planning:
1. Human resource planning aids in projecting future personnel requirements and, more importantly, in anticipating vacancies that may arise in the near future.
2. It is cost effective because the company can predict personnel shortages and surpluses and regulate the imbalance before it becomes unmanageable or expensive.
3. Employee development will be well planned. Existing employees' abilities may be improved through human resource planning by providing timely training and development opportunities.
4. Training programmes become more successful when personnel gaps resulting from shortages or surpluses may be identified through manpower planning and appropriate training can be provided.
5. It aids in the strategic recruiting and training of people in times of scarcity and layoffs, as well as the termination or replacement of labour in times of abundance.
6. The idle resulting from vacancies may be mitigated by Human Resource planning, and consequently the overall performance of the firm is unaffected.
Thus, human resource planning allows businesses to efficiently manage their personnel needs (both present and future) while also decreasing the time spent searching for a suitable applicant for a vacant position.
