HR Plan Description This assignment will use the readings and discussions as a base for an individual assignment where students will play the role of an HR professional and will develop an HR plan for a franchise owner. They will apply HR Planning knowledge to forecast demand and supply and then develop a clear plan to address the resulting labour shortage or surplus. • Students will conduct research and apply labour supply and demand forecasting concepts and techniques they learned to create this HR plan. Students will then write an executive summary business report which documents the results of their research and their HR plan including (but not limited to) addressing the case questions in the textbook. Your executive summary report must be a Word document (Maximum of 1500 words, excluding cover page and references page, APA standards). • The executive summary report is due on Sunday of Unit 10 and worth 15% of final grade Objective of Assignment • Analyze human resources demand to create a forecast using quantitative and qualitative techniques. • Use strategies to forecast internal human resources supply. • Create a human resources plan and describe ways to deal with a human resources surplus and/or shortage. • Develop business communication skills (written and verbal). Required Materials • Dessler, G., & Chhinzer, N. (2020). Human resources management in Canada (14th Canadian ed.). Pearson Canada Inc. • ISBN-13: 978-0-13-485619-3 • Chapter 5 • Case Incident on page 129 Instructions Conduct research in order to get information to address the following questions (# 1 and 2) from page 129 of the course textbook. Ensure you use some of the qualitative and quantitative techniques described in the course textbook to help formulate your answers. Include at least two scholarly sources. WWW.YORKVILLEU.CA BUSI 2103: HUMAN RESOURCE MANAGEMENT AND DEVELOPMENT 2 a. Using your HR planning expertise, forecast the demand of labour in the stores and the online environment over the next three years. b. Assuming an annual 15 percent turnover level of in-store workers and a 30 percent turnover level of online-focussed employees, determine overall HR supply estimates over the next three years. c. Report the number of employees that will be surplus or shortages for each part of the business and for each year. d. Report the numbers of any employees that will need to be terminated each year and the services that should be provided for them. e. Additionally, provide some suggestions of activities you could engage in to determine supply details by internal vs. external candidates. 1. You are to gather the information and write a business report which documents the results of your research above and presents it in a logical manner for senior management of the franchise. e. Remember, your objective is to provide an analysis on the labour forecast and turnover for the franchise owner, not simply to answer a series of questions. The questions are to help you focus your research. Your overall grade will reflect the strength of your analysis. 1. Use the research sources that you found in Part 1 in order to get information to address the following questions: a. Do you forecast a labour shortage or surplus? b. Develop a clear plan to help address the forecast labour shortage or surplus. NOTE: your plan will need to include three strategies that focus on at least two of the following areas of HR: Training, Career Development, Total Rewards, and Turnover Management.
In the realm of human resource management, strategic planning plays a pivotal role in ensuring a company’s success. For franchise owners, understanding and effectively managing the labor supply and demand dynamics is critical to maintaining operational efficiency and profitability. This executive summary report aims to analyze HR demand, forecast labor supply, and develop a comprehensive HR plan to address potential labor shortages or surpluses for a franchise owner. We will use qualitative and quantitative techniques, drawing insights from scholarly sources, to provide a strategic roadmap for senior management.
To begin, we need to forecast the demand for labor in both physical stores and the online environment over the next three years. This requires a combination of quantitative and qualitative techniques:
Quantitative Analysis: Utilizing historical data and trend analysis, we can estimate the number of employees needed in stores and for online operations. Additionally, we should consider factors like sales projections, expansion plans, and changes in customer behavior.
Qualitative Analysis: Qualitative insights from market research, customer feedback, and industry trends should be integrated into the forecast. This helps in anticipating changes in the business environment that may affect labor demand.
To estimate HR supply, we need to consider turnover rates for in-store and online-focused employees:
In-store Employees: Assuming an annual turnover rate of 15 percent, we can calculate the number of employees who will need to be replaced over the next three years.
Online-Focused Employees: With a 30 percent annual turnover rate, we can determine the turnover figures for online operations.
a. Determining Labor Shortage/ Surplus: By subtracting the forecasted labor supply from the labor demand, we can determine whether a labor shortage or surplus is anticipated for each segment of the business and for each year.
b. Termination and Support: For employees who may need to be terminated due to a labor surplus, it is essential to outline termination procedures and the services that should be provided to support them during the transition.
Now, let’s focus on developing a clear plan to address the forecasted labor shortage or surplus. The plan should encompass strategies in at least two of the following HR areas: Training, Career Development, Total Rewards, and Turnover Management.
Training and Career Development:
a. Cross-Training: Implement cross-training programs to enhance the skills of existing employees, making them versatile and adaptable to different roles within the franchise.
b. Career Pathways: Establish clear career pathways for employees, emphasizing opportunities for growth and advancement within the organization.
Total Rewards:
a. Competitive Compensation: Ensure that the franchise offers competitive salaries and benefits to attract and retain top talent.
b. Recognition and Incentives: Implement recognition programs and performance-based incentives to motivate employees and reduce turnover.
Turnover Management:
a. Exit Interviews: Conduct thorough exit interviews to understand the reasons behind employee turnover and identify areas for improvement.
b. Retention Initiatives: Develop and execute retention initiatives based on the insights gained from exit interviews, aiming to reduce turnover rates.
In conclusion, strategic HR planning is essential for franchise owners to navigate the complex labor landscape effectively. By forecasting labor demand and supply, addressing shortages or surpluses, and implementing strategic HR initiatives, the franchise owner can ensure a talented and motivated workforce that contributes to business success. This report not only answers the specific questions posed but also provides a holistic analysis and actionable recommendations to drive the franchise’s HR strategy forward.
As a renowned provider of the best writing services, we have selected unique features which we offer to our customers as their guarantees that will make your user experience stress-free.
Unlike other companies, our money-back guarantee ensures the safety of our customers' money. For whatever reason, the customer may request a refund; our support team assesses the ground on which the refund is requested and processes it instantly. However, our customers are lucky as they have the least chances to experience this as we are always prepared to serve you with the best.
Plagiarism is the worst academic offense that is highly punishable by all educational institutions. It's for this reason that Peachy Tutors does not condone any plagiarism. We use advanced plagiarism detection software that ensures there are no chances of similarity on your papers.
Sometimes your professor may be a little bit stubborn and needs some changes made on your paper, or you might need some customization done. All at your service, we will work on your revision till you are satisfied with the quality of work. All for Free!
We take our client's confidentiality as our highest priority; thus, we never share our client's information with third parties. Our company uses the standard encryption technology to store data and only uses trusted payment gateways.
Anytime you order your paper with us, be assured of the paper quality. Our tutors are highly skilled in researching and writing quality content that is relevant to the paper instructions and presented professionally. This makes us the best in the industry as our tutors can handle any type of paper despite its complexity.
Recent Comments