ENTREPRENEURIAL OPERATIONS
HUMAN RESOURCE MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Working out profits
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Creating a wage analysis
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Conducting interviews
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Figuring out how many staff I need for the business and what each staff member needs to do
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Detailed explanation-1: -Human resources planning ensures the best fit between employees and jobs while avoiding manpower shortages or surpluses. There are four key steps to the HRP process. They include analyzing present labor supply, forecasting labor demand, balancing projected labor demand with supply, and supporting organizational goals.
Detailed explanation-2: -Determine Human Resource Needs The first part of an HR plan will consist of determining how many people are needed. This step involves looking at company operations over the last year and asking a lot of questions: Were enough people hired? Did you have to scramble to hire people at the last minute?
Detailed explanation-3: -Forecasting demand is the critical stage of the HR planning process. Bearing in mind the organization’s future goals, gauge the coming demand and supply of qualified employees. Demand forecasting involves determining the number of people needed and the level of talent required.
Detailed explanation-4: -Assess current HR capacity. Forecast HR requirements. Develop talent strategies. Review and evaluate.