I have attched a small case study. Please read and Analyse human resource demand to create a forecast using qualitative and quantitativetechiques

Ensure you use some of the qualitative and quantitative techniques described in the course textbook to help formulate your answers

Using your HR planning expertise, forecast the demand of labour in the stores and the online environment over the next three years).

Chapter Summary 5.1 Define human resources planning (HRP) and discuss its strategic importance. Human resources planning (HRP) is the process of reviewing HR requirements to ensure that the organiz ation has the required number of employees with the necessary skills to meet its strategic goals. Forecastin future labour demand and supply is a critical elemento the strategic planning process. HRP and strategic plan ning become effective when a reciprocal and interdepend ent relationship exists between t them. 102 Chapter 5 5.2 Describe four quantitative and two qualitative techniques used to forecast human resources demand, Four quantitative techniques for forecasting future HR demand are trend analysis, ratio analysis, scatter plots, and regression analysis. Two qualitative techniques used to forecast demand are the nominal group technique and the Delphi technique 5.3 Discuss briefly the four strategies used to fore- cast internal human resources supply and three types of market conditions assessed when fore- casting external human resources supply. Four strategies used to forecast internal HR supply are Markov analysis, skills and management inventories, replacement charts and summaries, and succession planning. Forecastinxeral HR supply requires an assessment of general economic conditions, labour mar ket conditions, and occupational labour conditions 5.4 Describe the ways in which a surplus of human resources can be handled. Strategies to manage a labour surplus include a hiring freeze: downsizing through attrition early retirement buyout programs, reduced hours through job sharing, part-time work, work sharing or reduced workweeks, leaves of absence, and termination of employment 5.5 Explain how organizations deal with a shortage of human resources, Strategies to manage a human resources shortage include internal and external solutions, such as hiring employ ces, employee transfers and promotions, and retention programs. Case Incident How to Downsize Successfully While Using HRP Fundamentals A successful franchise owner of a prestigious sporting goods chain is feeling the effects of technology, with more and more online sales and less and less customers in the shops. Locally there are three stores, and typically each store needs the following positions staffed for optimum profitability and success a store manager, an assistant manager, five department managers, and 20 customer service representatives, averaging S1 200 000 in annual revenue. However, there has been a trend of 20 percent sales decline in stores, with an increase of 30 percent sales online (last year the online revenue stream was $300.000). The franchise owner was able to handle all of the online sales with a team of five full-time remote workers (work- ing from home) last year. The owner wants each store to maintain their produc tivity, which he measures as the revenue per employee. He also thinks that there is potential to grow the online business Please help the owner by answering the following questions Questions 1. Using your HR planning expertise, forecast the demand of labour in the stores and the online environment over the next three years. 2. Assuming an annual 15 percent turnover level of in-store workers and a 30 percent turnover level of online-focused employees, determine HR supply estimates over the next three years 3. Do you forecast a labour shortage or surplus? Develop a clear plan to help address the forecasted labour shortage or surplus Chapter Summary 5.1 Define human resources planning (HRP) and discuss its strategic importance. Human resources planning (HRP) is the process of reviewing HR requirements to ensure that the organit ation has the required number of employees with the necessary skills to meet its strategic goals. Forecasting future labour demand and supply is a critical elemento the strategic planning process. HRP and strategic plan ning become effective when a reciprocal and interdepend ent relationship exists between t n them 102 Chapter 5 5.2 Describe four quantitative and two qualitative assessment of general economic conditions, labour mar techniques used to forecast human resources ket conditions, and occupational labour conditions demand. 5.4 Describe the ways in which a surplus of human Four quantitative techniques for forecasting future HR resources can be handled. demand are trend analysis, ratio analysis, scatter plots and regression analysis. Two qualitative techniques used Strategies to manage a labour surplus include a hiring to forecast demand are the nominal group technique and freeze: downsizing through attrition, early retirement the Delphi technique buyout programs, reduced hours through job sharing, part-time work, work sharing or reduced workweeks, 5.3 Discuss briefly the four strategies used to fore- leaves of absence, and termination of employment cast internal human resources supply and three types of market conditions assessed when fore- 5.5 Explain how organizations deal with a shortage casting external human resources supply. of human resources Four strategies used to forecast internal HR supply are Strategies to manage a human resources shortage include internal and external solutions, such as hiring employ Markov analysis, skills and management inventories, replacement charts and summaries, and successionees, employee transfers and promotions, and retention progrants planning. Forecastinxeral HR supply requires an Case Incident How to Downsize Successfully While Using HRP Fundamentals A successful franchise owner of a prestigious sporting goods chain is feeling the effects of technology, with more and more online sales and less and less customers in the shops. Locally there are three stores, and typically each store needs the following positions staffed for optimum profitability and success a store manager, an assistant manager, five department managers, and 20 customer service representatives, averaging S1 200 000 in annual revenue. However, there has been a trend of 20 percent sales decline in stores, with an increase of 30 percent sales online last year the online revenue stream was $300.000). The franchise owner was able to handle all of the online sales with a team of five full-time remote workers (work- ing from home) last year The owner wants each store to maintain their produc tivity, which he measures as the revenue per employee. He also thinks that there is potential to grow the online business Please help the owner by answering the following questions Questions 1. Using your HR planning expertise, Forecast the demand of labour in the stores and the online environment over the next three years. 2. Assuming an annual 15 percent turnover level of in-store workers and a 30 percent turnover level of online-focused employees, determine HR supply estimates over the next three years 3. Do you forecast a labour shortage or surplus? Develop a clear plan to help address the forecasted labour shortage or surplus