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Forecasting in Human Resource Management

Explain how forecasting is used in HRM. Is management, outside of HRM, necessary in forecasting? Why or why not?

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Forecasting is a means of utilizing probability in projecting the "what if" scenarios the organization must face. It is essential for HRM to forecast based on the strategic decisions, or even directions, that an organization must pursue in order to be successful. In utilizing the holiday season for a retail store, HRM forecasting should have resulted in a plan for "gearing up" with additional employees to fulfill the increase in demand during this peak time. For industries that are popular with unions, ...

Solution Summary

Forecasting is a means of utilizing probability in projecting the "what if" scenarios the organization must face. It is essential for HRM to forecast based on the strategic decisions, or even directions, that an organization must pursue in order to be successful. Solution includes reference.

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