ENTREPRENEURSHIP

Detailed explanation-1: -Human resource planning, however, allows organizations to minimize the money they spend on these areas, thus reducing costs overall and leading to more efficient operations.

Detailed explanation-2: -It promotes growth and the longevity of the company A human resource plan causes HR professionals to consider possible changes and prepare themselves for future hiring needs. The plan also allows them to budget and plan for additional staffing needs, the expansion of departments, and potential retirements.

Detailed explanation-3: -Human Resource Accounting is the process of assigning, budgeting, and reporting the cost of human resources incurred in an organization, including wages and salaries and training expenses.

Detailed explanation-4: -Through HRP organizations are able to maintain a desirable human resource position while projecting future needs so as to have the correct quantities and qualities of employees as needed.