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Hr Planning

In: Business and Management

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1. INTRODUCTION
Many business owners prepare a business plan before starting their business. However, small business owners often do not include human resource planning as part of their over-all business plan.
They may start out with only a few employees or none at all. Over time, it is important to properly forecast employment needs. Just as failing to address potential threats in the marketplace can jeopardize the viability of your business, failing to anticipate personnel needs can impact on overall business success.
The success of a business is directly linked to the performance of those who work for that business. Underachievement can be a result of workplace failures. Because hiring the wrong people or failing to anticipate fluctuations in hiring needs can be costly, it is important that you put effort into human resource planning.
Planning for HR needs will help to ensure your employees have the skills and competencies your business needs to succeed. An HR plan works hand in hand with your business plan to determine the resources you need to achieve the business’s goals. It will better prepare you for staff turnover, recruitment, and strategic hiring – and alleviate stress when you have emergency/last-minute hiring needs.
This module provides a detailed outline of how small business owners can develop a human resource plan. There is also a discussion of issues to consider when developing a succession plan, the plan that is needed to consider how to carry on the business, or sell the business, when the current management/ownership leaves.
Tips for creating a personnel policy manual are also included.
Module 1 - p 2
Managing Your Human Assets
Module 1: Human Resource Planning
2. DEVELOPING AN HR PLAN
2.1 Forecasting Hiring Needs
The daily demands and hectic lifestyle of business owners and managers often has an unfortunate...

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