It relies on both internal and external sources. However, majority (90%) of the recruitment take place through external sources using mediums like peer ads, Job agency, referral etc. There are several difficulties or constraints that PEEPED faces. These are lack of motivation, strategic procrastination etc. According to the requirement of the report, it is found that East West Property Ltd. Is running with employee deficit. They need more 112 employees to meet the demand according to the external manpower demand calculation and there is a deficit of 9 personnel when trend analysis is conducted.
The results are different as different data are being put while doing the ululations. So it shows that HER Demand > HER Supply in PEEPED. Introduction Title of the report The title of the report is – “Human Resource Planning of East West Property Development” Background of the term paper Land and real estate industries in Bangladesh developed in various ways. Bangladesh land and real estate companies have done well in this sector so far. Among those, a well-established company is East West Property Development (PEEPED). PEEPED has played vital role in this sector.
The human resource planning of East West Property Development and recommendations to make it more efficient is covered in his report. Objective of the study In this term paper we examined the human resource system of East West Property Development. We focused on two issues. We assessed the current human resource policies and practices, we examined how they are aligned with the strategy of the firm. We identified and recalculated the current human resource planning of the particular organization and provided feasible recommendations for organizational action.
Methodology Methods followed to perform a Job or conducting activities to complete a task is called methodology. To assess the current human resource practices and policies, to identify and to recalculate it we used necessary methodology to find out information. In conducting this study the following methodology was adopted in collecting data & information, preparation of reports etc. Type of data used in this term paper: Sources of information: Both primary and secondary sources of information were used to complete this report. Primary data: We have gathered primary data by asking questions to the employee of East West Property Development. * Secondary data: We need much information for the term paper, which we get from secondary data. These are: * Internet * Articles and Newspapers Strategic Human Resource Planning, 2nd edition, by Monica Bellower and Kenneth J. McCabe. Data collection of this paper: We have prepared a comprehensive questionnaire to find out primary data about the human resource planning of PEEPED. We mailed this questionnaire to our course instructor and verified its validity.
Then we went to execute the interview with the head of Human Resource Department of PEEPED. It was very hard for both parties to conduct a proper interview due to Biped’s busy schedule. But as a result of our relentless effort, finally we managed to complete the interview and extracted necessary primary data. * Questionnaire In this term paper, we used a comprehensive questionnaire for the human resource planning of PEEPED. We developed 19 questions to assess their human resource policies and practices. We also developed 8 questions to find out necessary information on their human resource man power.
Limitation of the study To make a report resourceful, various aspects and experiences are needed. We have started working on term paper and faced some barriers in making a complete and perfect term paper. These barriers or limitations, which hinder my work, are as follows: Difficulty in accessing data of its internal operations. Đ‚ Non-Availability of some preceding and latest data. Some information was withheld to retain the confidentiality of the organization. In PEEPED, the head of Human resource department and most of the employees remain very busy in their own business.
Though they remain very busy most of the time they have tried to help us but due to their work pressure and confidentiality we are not getting opportunity to learn all the analysis properly. Reliability of the data The data collected are highly reliable in the sense that all data collected by direct interview of Head of human resource department of PEEPED and information taken room original website of PEEPED. All those information are examined and interpreted with great diligence to compose the term paper successfully.
Literature Review Human Resource Management Human Resource Management (HARM) is the function within an organization that focuses on recruitment of, management of, and providing direction for the people who work in the organization. Human Resource Management includes conducting Job analyses, planning personnel needs, recruiting the right people for the Job, orienting and training, managing wages and salaries, providing benefits and incentives, valuating performance, resolving disputes, and communicating with all employees at all levels.
HARM enables employees to contribute effectively and productively to the overall company direction and the accomplishment of the organization’s goals and objectives. Human resource policy Human resource policies are systems of codified decisions, established by an organization, to support administrative personnel functions, performance management, employee relations and resource planning. Each company has a different set of circumstances, and so develops an individual set of human resource policies.
The establishment of policies can help an organization demonstrate, both internally and externally, that it meets requirements for diversity, ethics and training as well as its commitments in relation to regulation and corporate governance of its employees. The establishment of an HER Policy which sets out obligations, standards of behavior and document disciplinary procedures, is now the standard approach to meeting these obligations. In this term paper, we assessed the current Human resource policies of East West Property Development.
Human Resource Planning is the process of systematically forecasting the future emend and supply for employees and the deployment of their skills within the strategic objectives of the organization. HARP is a process that identifies current and future human resources needs for an organization to achieve its goals. It responds to the importance of business strategy and planning in order to ensure the availability and supply of people both in number and quality. A key goal of HARP is to get the right number of people with the right skills, experience, and competencies in the right Jobs at the right time and at the right cost.
The main purposes of human resource lancing are: determining recruitment needs which are important prerequisite in the recruitment process so as to avoid problems, determining training needs such as the planning training programs which are very important, for management development purposes, balancing the cost between the utilization of plant and workforce which entails the comparison of costs between these two resources and industrial relation. The objective of human resource (HER) planning is to ensure the best fit between employees and Jobs, while avoiding manpower shortages or surpluses.
Again Job analysis is the process of identifying the content of a Job in arms of activities, list of duties, responsibilities, associated with the Job, attributes needed to perform the work and also identifies the knowledge, skill, abilities required to perform the Job. Through Job analysis, the analyst needs to understand what the important tasks of the Job are, how they are carried out, and the necessary human qualities needed to complete the Job successfully. Essentially, Job analyses provide information to organizations which helps to determine which employees are best fit for specific Jobs.
So recruiting and selecting the best candidate is the most important ask of an organization. Recruitment is the process of attracting a large number of candidates so that organization can identify the best suitable option for them or the process of identifying that the organization needs to employ someone up to the point at which application forms for the post have arrived at the organization. Selection then consists of the processes involved in choosing from applicants a suitable candidate to fill a post.
Selection is the process of identifying and measuring the ASK of the potential candidates to find out the best and appropriate potential employee for the organization. The process of Job analysis involves the analyst describing the duties of the incumbent, then the nature and conditions of work, and finally some basic qualifications. It has two parts: * Job description: A Job description is a list that a person might use for general tasks, or functions, and responsibilities of a position.
It may often include to whom the position reports, specifications such as the qualifications or skills needed by the person in the Job, or a salary range. A Job description is usually developed by conducting a Job analysis, which includes examining the tasks and sequences of tasks necessary to perform the Job. The analysis considers the areas of knowledge and skills needed for the Job. Alt can be used as a guideline for an employee and/or his or her line manager as to his or her role and responsibility within the organization. Job specification: A Job specification is an official document which describes the duties, required knowledge, skills and abilities, and minimum qualifications of a particular Job. A Job specification is what requirements are necessary to perform the task which is more specific and more in depth. Human Recourse Planning Process Human Recourse Planning process is a planning process by which an organization an move from its current manpower position to its desired manpower position.
It’s not a mere assessment of the number of employee’s required but also categorized the types of knowledge, skills and abilities required in the organization. Optimum manpower planning aims at- * Balancing demand, supply, allocation and distribution of manpower. * Controlling cost of human recourses. * Formulating policies or transfer, relocation and succession of manpower. The three key elements of the HER planning process are forecasting labor demand, analyzing present labor supply, and balancing projected labor demand and supply.
A critical component of an effective HER plan is the method of forecasting. Forecasting refers to the interaction between the decision maker’s perceptual and cognitive processes and the objective characteristics of their environment. Decisions made about projections of future labor supply and demand are affected by the decision maker’s environment (organizational characteristics) and their own beliefs or perceptions relating to the environmental uncertainty. Labor forecasting is a key to an organization’s ability to achieve its operational, production, and strategic goals. (Kenneth J. McCabe, 2011-2012)
Forecasting HER Demand Labor demand forecasting is very important because businesses don’t want a surplus of employee who is not being fully and effectively deployed, nor do they want gaps in their employee pool which results in reduced productivity, performance and profitability. Demand analysis identifies the future workforce requirements needed to maintain the organization’s mission and goals. The end result of a demand analysis is the identification of the required number of employees in an organization and the necessary functions that the employee must perform to meet organizational objectives.
In HER planning, labor demand is determined separately from supply estimates because it facilitates a re-examination of embedded assumptions about the labor force. As well, different variables affect demand analysis. By forecasting demand an organization can have the following information: Environmental scanning including economic, legislative, and competitive pressures. The organization’s future strategic goals and plans. Expected demand for products or services, including expected sales (across the organization or at the business unit level. Estimated productivity measures of Rockford (can be stable, increase, or decrease) Organizational design or Job design, including technological advancements and administrative changes. Projected budgets or financial resource availability. New products/processes/ventures that the organization will be launching in the future. Due to the high number of environment- and organization-specific variables that influence demand analysis, there is no single correct way to estimate future HER demand.
Instead, a number of quantitative and qualitative methods, aid HER professionals in this step. Organization will decide which method to use according to he size of the organization, the resources available, and the expertise of the HER planning team. Quantitative techniques for determining HER requirements include trend analysis, ratio analysis, and regression analysis. Qualitative approaches to forecasting HER demand require managers to use their experiences to make expert judgments about future forecasts.
This can occur in the form of a Delphi method, a nominal group technique, or a scenario analysis. Quantitative Techniques for Forecasting HER Demand Trend Analysis Similar to trend analysis used to forecast internal HER supply, past trends nitration an also be used to forecast HER demand. For this purpose, trend analysis predicts demanded for labor based on projections of past relationship patterns over a number of Weyerhaeuser an operational index (e. G. , revenue per employee, productivity per employee) and the demand for labor (number of employees).
As one of the simpler methods of forecasting HER demand, trend analysis assumes that an organization’s past employment needs are indicative of future needs when linked with an operational index. Ratio Analysis Ratio analysis determines future HER demand based on ratios between assumed usual factors and the number of employees needed. Ratio analysis appears very similar to trend analysis, but the primary difference is that there is no requirement for significant historical data collection.
This allows organizations that do not have easy access to multiple years’ worth of data to use current ratios to help estimate future demand. In addition, while trend analysis links one business or operational index over time, ratio analysis allows for multiple causal factors to be used to predict demand. Ratio analysis is also useful in benchmarking organizational efforts with industry or competitive standards to help identify areas of strength or weakness in an organization.
Regression Analysis Regression analysis is a more complicated method of estimating HER demand, but allows for adjustment of seasonal fluctuation, long-term trends, and random movement when forecasting. This method provides statistical projections using mathematical formulas to determine the correlation between multiple measurable output factors (independent variables) and an organization’s employment level (dependent variable).
A regression analysis is useful in predicting the strength and erection of a linear relationship between two variables, but in situations of a non- linear relationship, estimates would not be valid. Qualitative Techniques for Forecasting HER Demand Delphi Technique The origins of the Delphi technique can be traced back to the late sass when the RAND Corporation used a famed “think tank” to estimate how future events effected HER projections for an organization. This process involves a panel of experts using their Judgments to make estimates of short-term future demands.
Experts use a variety of factors to make their Judgments, including economical, demographical, genealogical, legal, and social conditions outside of the organization, as well as production, sales, turnover, experiences, and education levels of the workforce within the organization. This method involves a number of steps. During the process, experts are not permitted to engage in direct face-to-face contact or communication. This is in an effort to prevent corrupting, influence of others, or confrontation of experts, which can influence the results.
First, experts must be identified to participate in this task. Second, each expert is asked to submit HER demand forecasts, including specification of sources of information and assumptions used to estimate demand. Next, each submission is gathered by the HER planning group, which then summarizes the results. The aggregated results are sent back to the experts, who are given an opportunity to adjust their forecasts based on the information provided in the summaries. These steps are repeated until the expert opinions converge, something that may occur after three to five rounds.
Each feedback loop provides an opportunity for experts to understand their position relative to others and the sections of others to the summaries provided. Nominal Group Technique The Nominal Group Technique (ENG) involves multiple experts (usually line and department managers) meeting face to face to discuss independently formulated positions of an organizational issue, with the ultimate aim of securing an accurate assessment of a given situation. ENG can be used to help forecast HER demand for an organization or can be used to solve other organizational issues (e. . , decisions about launching new products or processes, managing change, establishing sales targets, etc. ). Scenario Analysis Due to the high number of factors that can affect predictions of HER demand, some organizations prefer to conduct a scenario analysis rather than determining a single demand scenario. Scenario analysis provides multiple estimates of future HER demand, contingent on a unique set of assumption sand circumstances for each scenario. This method involves recognizing uncertainties about the future.
For example, forecasts are contingent upon the overall economic outlook of the firm’s output. An organization could create three different estimates accordingly, one for a instant economic situation (e. G. , zero growth), a second for some anticipated economic growth (e. G. , five percent growth), and a third for the possibility of economic decline (e. G. , five percent reduction). Forecasting HER Supply Once a business has forecast what its future requirements are likely to be, it is then important to determine what number of employees will be needed, with what skills and when.
The purpose of identifying future HER supply requirements is to determine the number of employees in each Job and their knowledge, skills, abilities, and other characteristics. Forecasting supply is essential in determining the characteristics of hiring sources within the predetermined planning horizon in order to establish whether future HER supply is sufficient to match future HER demands. To forecast HER supply, an organization needs to evaluate both their internal and external labor force. This step is dependent on an accurate assessment of the current workforce situation.
Forecasting HER supply involves an understanding of internal and external potential human resource supplies. However, it is still important to try to determine external supply as accurately as possible. The first step therefore, is to do an analysis of the skills currently within the business. If skills are not available internally, then they may need to be sought externally. There are multiple levels at which HER supply can be predicted, including global, national, provincial, regional, and local.
Information that will help to develop an understanding of external HER supply includes: Supply and demand of Jobs or skills Educational attainment levels within a region Compensation patterns based on experience, education, or occupation Immigration and emigration patterns within an area Đ‚ Forecasts of economic growth or decline Competition for talent Industry or occupational expected growth levels Public policy, government, and legal changes Trends in labor force participation (including entry and exit) Technological development patterns (Chapter 3 Human Resource Planning, 2008) Balancing the Supply and Demand If a business is short of employees to achieve the business objectives, effective recruitment strategies will need to be devised. Considerations will then relate to Job design, career development, flexible work options and remuneration and reward orgasm. If a business has too many employees, effective strategies will need to be created to manage retirements, redundancies and if appropriate, dismissals. Forecasting: The Key to Successful Human Resource Management In the age of competition, companies do not have any other choice than to compete better than their competitors. Human resource management has a critical role to play in supporting the corporate strategic plan.
All the HER functions contribute positively to achieving the objective. The main task of human resource management is to support other departments to have the best people. Therefore, there is a critical need to get the best people in the right place at the right time. Forecasting helps to match the requirements and the availabilities of employees. There are two kinds of forecasting methods: qualitative and quantitative methods. Matching human resources with planned organizational activities for the present and the future is one of the main problems faced by an organization. Human resources have a certain degree of inflexibility, both in terms of their development and their utilization.
It takes several months to recruit, select, place, and train the average employee; in the case of higher-echelon management personnel in large organizations, the process may take years. Decisions on personnel recruitment and development are strategic and produce long-lasting effects. Therefore, management must forecast the demand and supply of human resources as part of the organization’s business and functional planning processes. Long-term business requirements, promotion policies, and recruitment (supply) possibilities have to be matched so that human resources requirements and availability estimates (from both internal and external sources) correspond sufficiently.
