Human Resource Planning Assignment Essay

Define and explain the signifi ratce of the boundary derived request as it applies to strategical adult male Resources Planning. (5 marks) A prerequisite for a good, service, etc. which is a consequence of the demand for something else. In respect to Strategic Human Resource Planning, derived demand applies specific entirelyy to tug. The demand for labor is derived from the demand for the goods and services that labor is employ to produce. The demand for labor is alike influenced by the level of economic activity and the relative cost of labor comp bed to capital. An organization will try to intend for vacancies and market fluctuations but derived demand can be demanding to plan for if you retain a product or service that has very little discernible contrariety from your competitors.For example when the Canadian dollar is lower Canadian transport companies are much busier, delivering to a greater extent(prenominal) exports to the US market which become cheaper for them t o purchase. 2. Explain derived demand as it applies specifically to Stonewall Industries. (5 marks) Stonewall Industries produces a commodity item (there is very little discernible difference between their product and their competitors). The demand for that item is presently affected by interest range and housing starts. As interest rates fall more people can afford to borrow money to build and therefore new edifice is more appealing. As interest rates rise less people are able to afford get to build and therefore the number of new housing starts fall. The HR department at Stonewall Industries can monitor these factors so that they can act proactively as opposed to reactively.They can monitor interest rates (by checking Bank of Canada updates) 3. The Senior Executive Team at Stonewall has to consider a number of environmental factors that impact on its Human Resources Planning activities. Describe these environmental factors and explain their impact. (10 marks) There are numero us environmental factors that have an impact on the HR Planning activities at Stonewall. Firstly, there is a world-shattering discrepancy in wages amongst the jells. It would likely be difficult to align wages at all of the plants due to differing unions and union climates in each province but the difference in wages could feature poor morale in a plant that disc overs they are making significantly less than other plant that produces the same product. (Also, aligning wages to the highest current level may not be possible. another(prenominal) environmental factor that would impact Stonewalls HR planning is the state of the current Vancouver plant. It isthe oldest and smallest plant and there is no room to expand on the current property. (This property is also very in demand(predicate) real estate next to the ocean but closing the plant and terminating the employees would come at a high cost. A cost that would need to be calculated to see if the short term be would produce a me dium term benefit. Offering these very experienced employees promotions to other plants may be possibilities as they have a lot of knowledge that would leave with them and would help reduce the layoff or decease costs that are going to be high with this group of employees.)The state of the labour unions in British Columbia and Quebec are factors that will affect Stonewalls HR Planning. Stonewall will have to ensure they walk the tight line between ensuring they are fiscally responsible while maintaining a good relationship with these unions. This is not only all-important(prenominal) for future relations but beca white plague of the importance that is determined on public relations and ultimately the image of the company in the publics eyes. This may pose an even greater challenge in Quebec where the labour unions are opposed to English possess companies. Although this is one of the plants with the lowest Total Compensation Rate it may be one of the biggest challenges as furthe rmost as labour relations. As recently mentioned previously, image and public relations are very important to Stonewall (and in a commodity market in general). In any industry layoffs are view critically buy the public.The company is viewed to be insensitive and public relations tend to sign on a hit. In mentioning layoffs, another environmental factor that will impact planning is that of an internal nature. essential employees that are questioning the future of the company are likely to seek other employment. As mentioned by Belcourt et al., the high performers are the ones that are likely to find new employment and if the company was only flavor to downsize they will be left with the average or underperformers. 4.Identify and explain the various techniques for forecasting labour tally and labour demand. What can organizations do in the short run when they recognize a gap in which supply far exceeds demand. What could Stonewall do in this situation? (20 marks) Time-series model sData simply is projected prior based on an established formula Predicts what will happen based on what has happed historically Uses chronologically arranged data to arrive at forecasting Can account forseasonal differences in demandCause and Effect ModelsAssumes that an activity (ie implementation of a new piece of machinery) determines an outcome (higher productivity). Judgement ModelsNo historical data to pull fromExample for Stonewall would have been forecasting demand for their vinyl siding branch before its implementation. When an organization recognizes a gap in which supply far exceed demand an organization can seek out contract or freelance employees or contact retired employees in the short term. Until a longer term answer can be realized. An organization can also do some planning for short term gaps by cross training employees. When these short term gaps are identified the labour force can be shifted and adjusted to compensate. This would not necessarily lend for Ston ewall as their employees skills are very specific to certain areas. I would think a possibility for Stonewall is to take employees from their smaller, less efficient plant in British Columbia and use them to fill in gaps at some of the other plants. The British Columbia plant cannot take on any more capacity and other plants can.This may be a short term plan to fill a gap or it may become a longer term solution if they can discuss more permanent moves with the BC employees as a result of the condition of the building and the need for workers at the other plants. This would reduce the costs of termination the BC employees (as well as smoothing over some potential public relations issues).