Importance of Human Resources Strategic Planning for MBA

An MBA is a vast course covering the basics and advanced concepts of managing a business. And the most critical aspect of any business is its employees. Employees are one of the most valuable assets of any organisation and are the backbone of any successful business. Learning how to manage your employees successfully is a factor that every business should look into. Since an MBA incorporates students with key skills they will need to operate any business, learning about employee management is an integral part of an MBA syllabus and writing excellent assessment answers.  It also includes MBA essay writing services. Managing employees is known as human resources planning, and this is what this blog is all about.

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Read on to learn the basics of human resource management and learn why this concept forms a core topic for your MBA syllabus.

What is human resources planning?

For a business to understand how to improve the productivity and efficiency of their staff, it is essential to know and understand how to create an effective strategy for human resources planning. Human resources planning means ensuring a business has an adequate number of employees to function in layman’s terms. Employees are matched with jobs that align with their expertise and experience.

It is a continuous process that any business has to carry out that ensures employees are well taken care of and efficiently managed for a thriving business environment. Some of the essential elements in human resources planning are:

  • Releasing or promoting employees in an organisation
  • Deal with unexpected employee absences or conflict
  • Reaching out to skilled employees and attracting them to join the organisation
  • Training, choosing and rewarding employees for greater satisfaction

Strategic human resources planning is the development of effective human resources policies and frameworks that look after the interests of employees and ensure that the organisation’s operational goals are met. Human resource planning also ensures that adequate human resources are employed to meet the operational plans and goals. As a result, there is no shortage of human resources that can halt operations. Moreover, human resources planning can help predict the future human resources needs of the company after analysing current employees, the external market, and the future environment in which the organisation will be operating. Now that you have an idea of what human resources planning is, let’s look at some of its benefits.

Benefits of HR planning

When an organisation’s overall business and operational strategy is well-aligned with its HR policies, it can better anticipate customer needs and fulfil them to maintain a competitive advantage in the market. In addition, rigorous planning, research, and development that involves employee culture, competencies and behaviours promote the successful execution of business strategies.

Thus, some of the benefits associated with human resources planning are:

  • Avoiding disruptive and costly services that can interfere with an organisation’s goals
  • Addresses critical issues on time to prevent crises and conflicts
  • Promotes employee productivity and leads to organisational success
  • Keeps employees focused on corporate goals
  • It gives tools to leaders to focus on and implement their different strategic initiatives
  • Provides a sense of direction to employees that positively affects workflow
  • Helps retain skilled employees by developing attractive employee policies and other perks

Thus, human resource planning is vital for overall growth and success. But how is successful HR planning carried out? Let’s take a deeper look.

How to develop a successful human resources plan?

The steps outlined below guide developing a robust HR plan and help implement efficient strategies in place.

1. Assess the different objectives of the organization

For planning the staffing of a company, first, the company’s overall goals need to be planned. This can be sales, finance, expansion, marketing, supplies, distribution, etc.

2. Evaluate the HR capacity

The next step is to evaluate the current workforce of the organisation. For example, a list of employees can be created that identifies their benefits, levels of expertise, performance, positions, skills and qualifications. Once you have the required information, you can analyse your data and assess your organisation’s ability to fulfil job requirements. You can also carry out surveys that effectively convey feedback from your employees and how they feel to be associated with your organisation.

3. Forecasting future HR requirements

The organisation’s HR department must consider variables like turnover, transfers, retirements, resignations, and promotions. They should also outline the skills and labour needed to fill specific gaps. This is carried out by matching employee profiles with job vacancies.

4. Conducting gap analysis

A gap analysis helps determine the individual needs of an organisation and then compares them with the current market supply. This helps HR professionals to determine if the employees are suited for their future roles. This helps to identify aspects like further training for managers or hiring people for specific job roles.

5. Develop an organisational strategy support plan

Once you have your required data, you can use it to create a plan that will help your company meets its specific needs. Some examples of strategies that you can create are:

  • Training current staff
  • Restructuring for increasing efficiency
  • Collaborating with other companies
  • Outsourcing tasks to external mediums

6. Implementation and integration of the plan

Once you have your strategic plan, you can execute it. This process needs collaboration from all employees and departments. Once you carry out your plan, you will need to monitor it to determine its effectiveness.

Now that you have a basic idea of what human resource planning is all about. let’s find out why this concept is critical as a part of your MBA syllabus.

Importance of human resource planning in MBA

A Masters in Business Administration or an MBA is an advanced and specialised business degree that Harvard University first introduced. Students passing out with this degree are expected to show high proficiency levels across all business sectors. And as we have learned before, strategic human resource planning is vital for an organisation’s growth and development.

This is why MBA students have to learn about HR planning in depth to understand how to manage employees successfully.

Although those students who have specialisations in Human Resource Management will be learning HR planning and policymaking in detail, the general MBA syllabus briefly touches on the fundamental aspects of HR planning. This is done to ensure students understand the benefits of strategic HR planning and take managerial decisions based on current HR performance-based outputs.

Thus, if you are an MBA student, you should try to thoroughly understand the different concepts and strategies involved in HR planning. Most of your MBA assignment answers will be based on organisational management and strategy, and a few will cover HR management briefly. However, students who have a specialisation in HR management will need to understand the A to Zs of HR policymaking and strategic planning.

Final thoughts

Now that you know the importance of HR planning make sure that you learn this concept well in your MBA program. This will help you utilise HR-based data in your business policymaking and contribute to the overall success of your organisation.

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