How is demand for HR forecast?

Quantitative methods

•       Moving average

•       Exponential smoothing

•       Trends projections

•       Regression

•       Linear programming

•       Actuarial models

•       Simulations

•       Probability matrix's  

Qualitative Methods

•       Delphi technique: face to face meeting a group of experts

•       Nominal group technique: a small group of experts meet face to face solving specific matters.

forecasting- The interaction between the decision maker’s perceptual and cognitive processes and the objective characteristics of their environment.

Benefits of HR Forecasting:1. Reduces HR costs2. Increases organizational flexibility3. Ensures a close linkage to the Macro Business Forecasting Process4. Ensures that organizational requirements take precedence over issues of resource constraint and scarcity.