Purpose

This assignment is intended to help you learn to do the following:

• Evaluate HR forecasting methods and models.
• Evaluate environmental factors and their influences on SHRM.
• Plan HR forecasting strategies that inform strategic HR decisions.

Overview

HR forecasting is the process of projecting how many employees a company will need to achieve its strategic goals. HR managers complete forecasts to identify jobs the company will need to fill and the skills employees will need to do them. Accurate forecasting is an important strategic skill. By anticipating trends and planning for potential scenarios, HR can help provide a wide range of strategic options. Accurate forecasts help organizations avoid costly last-minute reactions when there's an unanticipated change in the labor market.

An annotated bibliography to identify and describe trends in the job market for a specific industry and location (region, state, or city)

Research

Find authoritative sourcesLinks to an external site. of information about trends in each of the following areas:

• Economic climate
• Political, legislative, and regulatory factors
• Demographic factors
• Social and cultural factors
• Technological factors
• Globalization
• Impact of disruptive events such as a pandemic or extreme weather
• Include authoritative sources of information for each of the trends listed above.
• Your annotations must each include a summary, your evaluation of the source, and your reflection on/reaction to the source.
• referrence