ENTREPRENEURSHIP

Detailed explanation-1: -This is the quickest HR forecasting technique. The technique involves studying past ratios, say, between the number of workers and sales in an organization and forecasting future ratios, making some allowance or changes in the organization or its methods.

Detailed explanation-2: -Ratio-trend analysis:-This is the quickest HR forecasting technique. The technique involves studying•past ratios, say, between the number of workers and sales in an organisation and forecasting future ratios, making some allowance or changes in the organisation or its methods.

Detailed explanation-3: -In a nutshell, it’s the process of examining past data to predict future demands. The collecting and evaluating of data identifies patterns that can affect future needs – but this is combined with other factors to build a more comprehensive picture to determine staffing requirements.

Detailed explanation-4: -Ratio analysis is one means of ensuring that you have the right amount of employees for the amount of work by determining the number of employees needed based on some element of production or sales. Ratio analysis is the beginning of HR forecasting; it is not the entire process.

Detailed explanation-5: -Both trend analysis and ratio analysis are done to assess the profitability and performance of businesses.