Essay about Human Resource Planning Assignment - 1091 Words

1. Define and explain the significance of the term ‘derived demand’ as it applies to Strategic Human Resources Planning. (5 marks) A demand for a commodity, service, etc. which is a consequence of the demand for something else. In respect to Strategic Human Resource Planning, derived demand applies specifically to labor. The demand for labor is derived from the demand for the goods and services that labor is used to produce. The demand for labor is also influenced by the level of economic activity and the relative cost of labor compared to capital. An organization will try to plan for vacancies and market fluctuations but derived demand can be difficult to plan for if you have a product or service that has very little discernible†¦show more content†¦It would likely be difficult to align wages at all of the plants due to differing unions and union climates in each province but the difference in wages could cause poor morale in a plant that discovers they are making significantly less than another plant that produces the same product. (Also, aligning wages to the highest current level may not be possible. Another environmental factor that would impact Stonewall’s HR planning is the state of the current Vancouver plant. It is the oldest and smallest plant and there is no room to expand on the current property. (This property is also very desirable real estate next to the ocean but closing the plant and terminating the employees would come at a high cost. A cost that would need to be calculated to see if the short term costs would produce a medium term benefit. Offering these very experienced employees promotions to other plants may be possibilities as they have a lot of knowledge that would leave with them and would help reduce the layoff or termination costs that are going to be high with this group of employees.) The state of the labour unions in British Columbia and Quebec are factors that will affect Stonewall’s HR Planning. Stonewall will have to ensure they walk the tight line between ensuring they are fiscally responsible while maintaining a good relationship with these unions. This is not only important for future relations but because of the importance that is placed on public relations and ultimatelyShow MoreRelatedHuman Resource Planning Assignment1359 Words   |  6 PagesModule: Human Resources Assignment: Discuss how Human Resource Planning contributes to effective Human Resource Management Date: 21st December 2011 Student: Laura Doyle Lecturer: Michelle Flannery Introduction In the following text, the process of Human Resource Planning will be defined and described in detail. We will see the importance of Human Resource Planning and the essential role it plays in ensuring successful Human Resource Management. Human Resource ManagementRead MoreHuman Resources Planning Assignment 1 Essay2632 Words   |  11 PagesIndividual Assignment 1 1. Define and explain the significance of the term ‘derived demand’ as it applies to Strategic Human Resources Planning. 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