Answer to Question #314250 in Management for Smartidiot

Question

1. With the world returning to normalcy post the pandemic, as an HR hiring manager you have the task of forecasting the demand for the next year to make sure you hire the right number and right kind of people. Explain the techniques of HR demand forecasting that you will employ in depth

Answer 1

1. Managerial judgment - HR may discuss with top management such as managers the number of employees the company may require in the future.

2. Ratio - Trend analysis - studying the past ratio before the covid 19 outbreak, the current ratio and predict the future ratio comparing the level of production and number of workers, but making the allowance for changes.

3. Regression analysis - it a more detailed and statistical analysis based on relationships between production level and employees size.