Major benefits or advantages of HR planning can be highlighted as follows:
1. Forecasting Human Resource Need
Human resource planning helps to determine the future needs of human resource in the organization. It helps the organization to fulfill the manpower requirements for smooth operation.
2. Recruitment And Selection
Human resource planning helps to recruit and select the most desirable and competent manpower to fulfill the vacant positions of the organization.
3. Meet Expansion And Diversification
Human resource planning helps the organization to cope with the future changes. It helps to meet future expansion and diversification needs of the company.
4. Training And Development
HR planning helps to enhance the efficiency of the employees by giving suitable training and organizing development campaigns.
5. Formulate Policy
HR planning helps to formulate different policies in the organization. employee transfer policy and promotion policy are designed with the help of HR planning.
Human resource planning ensures optimum use of human resource in the organization. It maintains balance between distribution and allocation of manpower.
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7. Cost Minimization
HR planning ensures higher productivity through effective use of human resource in the organization. Higher level of productivity reduces the cost of production. So, HR planning is helpful in overall cost minimization.
