Human Resource Planning and Forecasting Essay Example | Topics and Well Written Essays - 500 words

Human Resource Planning and Forecasting - Essay Example *Granny Toy Company must also make sure that the strategy of the business is linked with the performance of its employees. The Company may also allow employees to design the objectives for the Company because it is then that they will be able to develop a better understanding of the goal and will work accordingly to accomplish it. This will also result in improved performance of the employees. * Granny Toy Company must try to work hard to retain the talented workforce of the Company, as the employees are considered to be an important asset of the company. For this purpose the Company must design an effective compensation and benefit plan for its employees. *The flexible environment provided by the Company to the employees also affects the staffing process. The environment of the Company must be easily adaptable i.e. it should be flexible enough that new employees can easily adjust in it. *When new employees are being hired by the Company for their expansion and additional products it is important that the Granny Toy Company gives them enough time to develop their skills and adjust in the organizational environment. They must train them with the skills essential for the position they are about to cover. Sometimes time can be an essence for Granny Toy Company. In such a case it will be effective that the company selects employees with the required skills within the organization i.e. the internal supply of employees, as it will save a lot of time and will reduce the HR cost. *The external environment forecasting (Event based forecasting) may also impose certain impact on staffing needs of the competitors existing in the industry. *Some legal factors such as certain laws related to the labor and some socio economic factors such as the number of women working in the respective industry etc. may also affect the staffing process of Granny Toy Company; therefore the company must foster