In the context of complex and special condition of the relevant industry, the primary assets of a business are the talents of its people, not the tangible and financial assets that make up the balance sheets. The cost of finding key talent- the hr and replacing key staff that leave is expensive and time consuming. As a result, the Company has the following procedure to ensure that they can continually develop and retain the talent that they groom through proper recognition and career enhancement. At the same time the Company needs to ensure that their operations do not become jeopardized due to the sudden departure of any key staff, so this policy also allows for some precautionary measures in terms of manpower planning.
Human Resources Planning:
Human Resources Planning (HRP) is the process of analyzing an organisation’s human resources needs under changing conditions and developing the activities necessary to satisfy these needs, hr specialist helps ensure that the right numbers of the right kinds of people are available at the right times and in the right places to translate organisational plans into reality. This process becomes strategic when some attempt is made to anticipate long term HR supplies and demands relative to changing conditions facing the organisation and use HR development programmes in an effort to meet HR needs.
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