Human Resource Planning process of using an organization's goals and strategy to forecast the organization's human resource needs in terms of attracting, developing, and keeping a qualified work force.
HRP is the ongoing practice of strategically planning ahead to make the most use of an organization's most important asset—qualified workers. Planning for human resources helps prevent shortages or surpluses of labor while ensuring the optimal match between workers and positions.
The HRP process consists of four essential components. They involve reviewing the current labor market, predicting future need for labor, balancing supply and demand, and advancing organizational objectives. Any firm should consider investing in HRP since it enables businesses to continue to operate profitably and productively.
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