Demand forecasting is the process of estimating the future quantity and quality of people required. The basis of the forecast must be the annual budget and long-term corporate plan, translated into activity levels for each function and department.

Steps in Human Resource Planning (explained with diagram)

• Analysing Organizational Objectives:
• Inventory of Present Human Resources:
• Forecasting Demand and Supply of Human Resource:
• Estimating Manpower Gaps:
• Formulating the Human Resource Action Plan:
• Monitoring, Control and Feedback:

Demand forecasting helps in determining the number and type of personnel/human resources required in future. The purpose of supply forecasting is to determine the size and quality of present and potential human resources available from within and outside the organisation to meet the future demand of human resources.

The major objectives of career planning are as follows:

• To identify positive characteristics of the employees.
• To develop awareness about each employee’s uniqueness.
• To respect feelings of other employees.
• To attract talented employees to the organization.
• To train employees towards team-building skills.

The career planning process has four components: (1) Self Assessment, (2) Career Exploration, (3) Career Identification, and (4) Action Plan. If you’re driven, you can easily go through these steps on your own.

In an organization, there are different types of development programmes to enrich different skills of human resource. These include organization development, employee development, management development, and career development.

Career planning is a process for: Identifying what you are good at. Knowing how your skills, talents, values, and interests translate into possible jobs or careers. Matching your skills, etc. to existing jobs or careers. Matching your career goals to your financial needs.

Career planning is the self-evaluation & planning done by a person to have a strong career path. Career planning process in the continuous reiterative process of understanding oneself, setting career goals, revising skills and searching for the right career options.

Aside from physical appearance, there are several other benefits exercise—more energy, improved mood, improved sleep, less stress, ect. Career is just as important as any other aspect of life. And we can’t leave a major area of our life unattended whether it be career, relationships, health, or finances.

These are specific, measurable, attainable, relevant and timebound goals that all set you up for success in your goal setting and achievement.

About Modern Career Development”, there are six stages of modern career development: Assessment, Investigation, Preparation, Commitment, Retention, and Transition.

8 Steps to an Effective Career Plan

1. Identify Your Career Options. Develop a refined list of career options by examining your interests, skills, and values through self-assessment.
2. Prioritize. It’s not enough to list options.
3. Make Comparisons.
4. Consider Other Factors.
5. Make a Choice.
6. Set “SMART” Goals.