Planning and Implementing HR Programs to Balance Supply and Demand

$5\mathrm{.}4$ Explain how organizations deal with both a surplus and a shortage of human resources.

Once the supply and demand of human resources have been estimated, program planning and implementation begin. The end result of the forecasting process is an estimate of short$-$term and long$-$range HR requirements. Longrange plans are general statements of potential staffing needs and may not include specific numbers.

Short$-$term plans $-$ although still approximations$-$are more specific and are often depicted in a staffing table. A staffing table is a pictorial representation of all jobs within the organization, along with the number of current incumbents and future employment requirements $($monthly or yearly$)$ for each.

To successfully fill positions internally, an organization must manage performance and careers. Performance is managed through effectively designing jobs and quality$-$of$-$working$-$life initiatives; establishing performance standards and goals; coaching, measuring, and evaluating; and implementing a suitable reward structure $($compensation and benefits$).$

To manage careers effectively, policies and systems must be established for recruitment, selection and placement $($including transfer, promotion, retirement, and termination$),$ and training and development. Policies and systems are also required for job analysis, individual employee assessment, replacement and succession planning, and career tracking, as well as career planning and development.

Specific strategies must be formulated to balance supply and demand