Answer to Question #253763 in Management for Neha

Question

A pharmaceutical company wants to focus on improving its human resource planning function. They have hired you as an HR consultant for this purpose. Suggest what factors you are going to consider that might affect the human resource planning of the firm. Elaborate them with corporate examples.

Answer 1

They include analyzing present labor supply, forecasting labor demand, balancing projected labor demand with supply, and supporting organizational goals. HRP is an important investment for any business as it allows companies to remain both productive and profitable.