Workforce Planning Management Research Paper Essay (Research Paper Sample)

Workforce Planning
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Contents
 TOC \o "1-3" \h \z \u  HYPERLINK \l "_Toc437983809"
1.0. Introduction  PAGEREF _Toc437983809 \h
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1.1. Rationale of the Study  PAGEREF _Toc437983810 \h
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1.2. Aim of the Study  PAGEREF _Toc437983811 \h
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1.3. Objectives of the Study  PAGEREF _Toc437983812 \h
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1.4. Research Questions  PAGEREF _Toc437983813 \h
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2.0. Literature Review  PAGEREF _Toc437983814 \h
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3.0. Methodology  PAGEREF _Toc437983815 \h
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3.1. Sampling  PAGEREF _Toc437983816 \h
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3.2. Data Type and Data Collection  PAGEREF _Toc437983817 \h
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4.0. Analytical Findings  PAGEREF _Toc437983818 \h
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4.1. The Case Study  PAGEREF _Toc437983819 \h
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4.2. Discussion  PAGEREF _Toc437983820 \h
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4.2.1. HRM Models and their Applicability  PAGEREF _Toc437983821 \h
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4.2.2. Workforce Planning Components and their Link with HRM Models  PAGEREF _Toc437983822 \h
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5.0. Conclusion  PAGEREF _Toc437983823 \h
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6.0. References  PAGEREF _Toc437983824 \h
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Workforce Planning
Introduction
Rationale of the Study
Workforce planning is an essential element of any human resources department that performs or intends to perform well in the contemporary business world. Many organizations fail in this area either because they are unaware of the benefits of workforce planning or because it is a daunting endeavor to implement workforce planning (Sullivan 2002).
Workforce planning is important to an organization in many ways. For instance, it is significant in forecasting talent needs in an organization to prevent surprises regarding labor shortages or surpluses. Surplus hiring leads to layoffs that kill the morale of the remaining workforce, and this may increase the rate of employee turnover. On the other hand, shortage of employees may cause the organization to indulge in panic hiring that may lead to the acquisition of unqualified staff. Therefore, the talent inventory needs proper management to avoid shortages or surpluses.
Further, workforce planning enables the human resource professionals to plan adequately for business cycles of boom and recessions in their organizations. Lack of workforce strategy or plan to deal with business cycles causes the pain of budget cuts during recessions and under production during booms. Therefore, the inability of the HR department to prepare for the business cycle dynamics may puzzle the functional capacity of other departments in an organization (Sullivan 2002).