Competing interests:
From a business perspective, employees can act as both an asset and a cost. For example, if a firm experiences economic downturn, reductions in the cost and numbers of employees will have to be made.
It is the HR planning function within HR that is responsible for finding the right balance between the changing demand for labout and a reliable source of supply.]
The planning process:
A plan must be both accurate, and also flexible, in order to adapt to the rapidly changing environment in which most organisations operate.
If a plan is based on poor data etc, it can result in inaccurate and misleading estimates of supply and demand numbers, resulting in either a costly surplus or shortage of employees.
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