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RideAnS [48]
3 years ago
8

Identify the three key elements of the human resources planning model and discuss the relationships among them.

Business
1 answer:
Feliz [49]3 years ago
6 0

Answer:

The three key factors of Human Resource Planning Model are:

  1. Forecasting Demand for Human Resources
  2. Evaluating or analysing Supply of Employees
  3. Finding a balance between projected Demand and Supply

Explanation:

Forecasting demand for human resources speaks to the ability or the process of the HR Department to predict how many staff will be needed for the organisation. It also answers the question "what kind of staff will be required?"

Demand for personnel is usually catalysed by internal and external factors.

Internal Factors could be:

  • Starting up a new company
  • Starting up a new business unit
  • creating new product and initiatives
  • ageing and retiring workforce
  • an act of god requiring complete replacement of displaced persons

External factors to be considered are:

  • economic situation (recession or expansion)
  • demand for goods and services (this may trigger an internal occurrence such as the expansion of a business unit)

HR Supply Analysis

Analysing the supply of talent simply means evaluating the ability of the company to attract the required person for specific roles when the need arises.

It also has an Internal and External dimension to it.

Internal Dimension: This examines the current staff of the company for potential selection into key roles in the near term and or foreseeable future. This element triggers the succession planning strategy.

External Dimension: This requires the HR Department to evaluate the business environment in order to determine how the psychographics, demographics and other external factors such as government laws will affect the supply of labour. If for instance, the industry under consideration is Medicine, and the government does not have laws in place to ensure adequate compensation for medical personnel, it is possible that this will lead to brain drain to other countries where there is a greater value placed on such services. In this situation, the entrepreneur would have to consider a strategy that allows in to attract the best hand and retain them for the long haul.

Balancing the Forecasted Demand vs Supply of Labour

Ensuring that there is a continuous supply of persons to meet existing and or forecasted demand for labour is an art which requires a blend of various strategies.

The HR department would need to

  • create an keep a tab on its employer brand
  • institute a recruitment strategy that covers internal and external recruitment  
  • ensure that there is a business continuity strategy - this ensures that the business regardless of how the supply of labour in the short or long term has all the required skill to continue its operations.

Other strategies to consider are retention, recruitment and reward strategies.

Cheers!

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A change in quantity demanded is caused only by
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Answer:

A change in quantity demanded is caused only by

A) price

B) a shift

C) Market

D) Income

The answer is Price(A)

Explanation:

Hope this helps :D

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The Copy Department in the College of Business at State University provides photocopying service for both the Marketing and Econ
fiasKO [112]

Answer:

The correct answer is $170,000.

Explanation:

According to the scenario, computation of the given data are as follows:

We can calculate the cost allocated to Marketing by using following formula:

Total cost allocated = Fixed cost + Variable cost

Where, Fixed cost = (3,600,000 ÷ 5,400,000) × $120,000

= $80,000

And , Variable cost = $0.025 × 3,600,000 = $90,000

By putting the value, we get

Total cost allocated = $80,000 + $90,000

= $170,000

7 0
3 years ago
Dorian has started a cultural shift at his organisation in quality process. Which type of reaction will he most likely face in t
beks73 [17]

The type of reaction will he most likely face in the early stages is rigid and reactive.

<h3>What is Organization?</h3>

Organization refers to the group of people working together in order to achieve the organizational goals. The goal of every organization is to maximize the profits for which it takes various activities.

In the above scenario, Dorian has started a cultural organization in a quality process. The changes made in any of the organization are rigid at first place.

The employees of the Dorian organization will react to the changes made regarding culture of the organization. Later on everyone will be adaptive to the changes.

Learn more about employees here:

brainly.com/question/18633637

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5 0
2 years ago
Assume that the custodian of a $450 petty cash fund has $57.10 in coins and currency plus $387.00 in receipts at the end of the
postnew [5]

Answer:

e a debit to cash for 396.50

7 0
3 years ago
A newly issued bond pays its coupons once a year. Its coupon rate is 4.1%, its maturity is 15 years, and its yield to maturity i
marissa [1.9K]

Answer:

a) 17.53%

b) $41 x 40% = $ 16.40

    815.25 - 728.48 = 86.77 capital gain x 30% = $ 26.03

Total: 26.03 + 16.40 = $ 42.43 income tax expense

c) (815.25 + 41 - 42.43) / 728.48 - 1 = 0.1171425 = 11.71%

d)

we recalculate the price of the bond with 13 years left to maturity

holding period return 26.94%

e)

tax expense:

(41x1.02 + 41) x 0.4 = 33.14

(841.87 - 728.48) x 0.3 = 34.02

<u>tax expense:</u> 67.16

<u>after tax return:</u>

(841.87 + 41x1.021 + 41 - 67.16) /728.48 - 1 = 0.177209379 = 17.72%

Explanation:

We need to determinate the value of the bond at yield of 7.1% and at yield of 6.1% which is the sum of the present value of the maturity and coupon payment:

<u>Purchase price:</u>

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

Coupon payment = 1,000 x 0.041 = 41.00

time 15 years

rate 0.071

41 \times \frac{1-(1+0.071)^{-15} }{0.071} = PV\\

PV $371.0773

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity   1,000.00

time   15.00

rate  0.071

\frac{1000}{(1 + 0.071)^{15} } = PV  

PV   357.40

PV c  $   371.0773

PV m <u> $  357.4028 </u>

Total  $  728.4801

<u>Selling Price</u>

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 41.00

time      14 (one-year past so maturity is more closer)

rate 0.061

41 \times \frac{1-(1+0.061)^{-14} }{0.061} = PV\\

PV $378.7456

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity   1,000.00

time   14.00

rate  0.061

\frac{1000}{(1 + 0.061)^{14} } = PV  

PV   436.50

PV c $378.7456

PV m  $436.5004

Total $815.2460

<em><u>Holding period return:</u></em>

return / investment - 1

(815.25 + 41) / 728.48 - 1 = 0.175387059 = 17.53%

d)

we recalculate the price of the bond with 13 years left to maturity

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 41.00

time 14

rate 0.061

41 \times \frac{1-(1+0.061)^{-14} }{0.061} = PV\\

PV $378.7456

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity   1,000.00

time   13.00

rate  0.061

\frac{1000}{(1 + 0.061)^{13} } = PV  

PV   463.13

PV c $378.7456

PV m  $463.1269

Total $841.8725

and redo the return, tax and after-tax return:

(841.87 + 41x1.021 + 41) /728.48 - 1 = 0.269401333

7 0
3 years ago
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