Manpower Demand Forecasting: –
It is the process of estimating the future quantity and quality of people required.
The basis should be annual budget and long term corporate plans
Demand forecasting should be based on following factors.
Internal Factors: –
• Budget constraints
• Production levels
• New products and services
• Organizational structure
• Employee separation
External Factors: –
• Competition environment
• Economic climate
• Laws and regulatory bodies
• Technology changes
• Social Factors
Reasons for Manpower Demand Forecasting: –
• To quantify jobs
• To determine the Staff-mix
• To assess staffing levels and avoid unnecessary costs
• Prevent shortages of people
• Monitor compliances of legal requirements with regards to reservations
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