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Methods for forecasting the employee demand

Methods for forecasting the employee demand 1. Tendency analyzing method: This method will study the employee demand in the previous years, ...

Methods for forecasting the employee demand

1. Tendency analyzing method:

This method will study the employee demand in the previous years, combined with analyzing the impact of outside factors to make a prediction about the employee demand in the future. (This method assumes that future is continuous from the past.)

This method is orientational, inaccurate due to base only one time factors and general tendency. It is usually applied in organizations of which businesses are rather stable.

2. Coefficient analyzing method:

This method will forecast the employee demand by using two variables: business production scale (the amount of goods, service or turn-over) and average productivity of an employee.

The demand for employee = Production scale / average productivity.

3. correlation analyzing method:

This method will forecast the employee demand by identifying the relationship between the following quantities: the employee demand (dependable factor) and business production, rate of employee transferring, the modernization level of machine and equipment or productivity (independent factors). This method sets up economic models and combines them with the program available on computer. However, it is very costly and time-consuming.

4. Method using expert’s estimation:

This method will assume that the direct divisional managers are experts. HR manager will create questionnaires, and then send them to these experts to research their opinions about forecasting employee demand. These questionnaires will be collected and new ones will continually be made and sent.... The research will be repeated until the compliance of information is reached.

The goal of this technique is to collect different opinions from experts and divisional managers, however, it is subjective.

This method is being used more and more by small and medium organizations as it is rather cheap and doesn’t require much technology.

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