Review of Literature on Human Resource Planning as an Ongoing Important Practice to Anticipate Future Human Resource Requirements within an Organization

Abstract

One of the most crucial human resource practices in the company is human resource planning. Organizations heavily rely on human resource planning to assess their existing situation and forecast their future labor requirements. This paper's goal is to assess the value of human resource planning to the company through a study of the relevant literature. The objectives of human resource planning, the process of human resource planning, and the significance of human resource planning to the organization are the main topics of this paper's review of the relevant literature. The following steps make up the human resource management (HRM) process: human resource planning, recruitment, selection, professional development, performance evaluation, and remuneration. Human Resource Planning (HRP), the first phase in the HRM process, entails identifying the HR goals of an organization, formulating a strategy for achieving those goals, and creating a comprehensive set of plans to integrate and coordinate operations as part of the HR strategy. This role is essential since organizations are by their very nature purposeful (goal-seeking) entities. To create appropriate HR plans for the firm, large organizations hire specialists and even set up departments that frequently use sophisticated quantitative methods and computer tools. The business manager is in charge of planning the HR strategy in smaller firms. The results show a strong correlation between human resource planning and organizational manpower needs as well as between human resource planning and organizational performance. As a result, this paper advises organizations to keep up their effective human resource planning practices because it is crucial to achieving their goals