Human Resource Plan for Franchise Businesses – Critical Case Analysis of Labour Shortage and Surplus

Nhu Nguyen
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Nhu Nguyen: Yorkville University

International Journal of Applied Business and Management Studies, 2022, vol. 7, issue 2, 52-60

Abstract: This paper analyzes how an organization of any size can safely forecast future surplus, shortage, and equilibrium provided with information the organization currently holds. It is that simple. This simple technique will enhance the future forecast of the organization addressing a more straightforward path to prevent labour shortage or surplus. This technique can forecast the equilibrium of the company following the changing trend. Applying these simple steps by following the Human Resources Planning model will enhance future business decision-making and inform the human resources department of the number of new hires an organization will be required to consider in the coming years. Four quantitative and two qualitative techniques applied to forecast the demand for human resources. The HRP model is a powerful forecasting tool for every business and very interesting findings discovered in this report.

Keywords: HR planning; labor shortage; surplus; strategic management (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:bau:ijabms:v:7:y:2022:i:2:id:209

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