Manpower Forecasting Meaning. Geisler manpower planning is the process including forecasting developing implementing and controlling by which a firm ensures that it has the right number of people and right kind of people at the right place at the right time doing things for which they are economically most suitable. Demand forecasting is helpful for both new as well as existing organisations in the market for example a new organisation needs to anticipate demand to expand its scale of production.
Forecasting human resource demand is the process of estimating the human resource requirement of right quality and right number demand analysis identifies the future workforce requirements needed to maintain the organization s mission and goals economics commerce and management. However most firms call the process of deciding how to fill company s most important executive jobs succession planning. What is manpower planning.
Manpower planning is the process of systematically forecasting the future demand and supply for employees and the deployment of their skills within the strategic objectives of the organization.
Manpower planning includes parameters like number of personnel different types of skills time period etc. It includes the statistical analysis of current trends and the use of mathematical models. The concept of forecasting future human resource needs implies estimating the manpower requirements or estimating the need and demand for manpower for the fixed period for which the manpower planning activity is undertaken. Manpower planning is the process of estimating the optimum number of people required for completing a project task or a goal within time.
