Hrm822 Assignment 2

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Seneca College *

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822

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Management

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Jan 9, 2024

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docx

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Uploaded by bluelemon0729

Hrm822 Assignment 2 wrote by Henry Ho student id:040385264 Submitted to: Prof. Sarah Gayer 11/12/2023 Table of Content Question 1 ......................................................................................... 3 Question 2 ........................................................................ 4 Question3 .................................................................................................................. 5 Question4 .................................................................................................. 6

Question5 .......................................................................... 7 Question 6………………………………………….8 Question 7……………………………………..9 Question 8………………………………….10 Reference………………………………..11 q1 . Define and explain the significance of the term ‘derived demand’ as it applies to Strategic Human Resources Planning. A: Derived demand refers to the desire for a good or service that results from the necessity of a related good or service. (Barone, 2022)Derived demand is a concept that investigates the

function of labor in the framework of strategic human resource planning. It is predicated on the idea that the amount of work necessary is determined by the demand for the products and services to which the labor contributes. The Cloud is a perfect illustration of this since it has grown in popularity owing to its scalability and simplicity of use. As a result, there has been considerable growth in the need for cloud technology experts. q2 . Explain ‘derived demand’ as it applies specifically to NorOnt Limited A: NorOnt Limited owns a trucking firm, which is referred to as "derived demand" by National Distribution Limited. The trucking firm is motivated by the timely delivery of supplies to NorOnt Limited's food sector. According to the case study, National Distribution Limited accounts for more than 70% of its business demand, which is mostly connected to the transportation of commodities for the food sector and is headquartered at the headquarters of NorOnt Limited in North Bay, Ontario. Furthermore, the Case Study demonstrates a global increase in the cost of petroleum products, which is causing NorOnt Limited to face derived demand. As a result of the rising cost of shipping, the firm is striving to keep its prices reasonable. q3 . The Exec VP of Marketing, Asad Hossain at NorOnt must consider several environmental factors that impact its Human Resources Planning activities. Describe these environmental factors and explain their impact A: NorOnt Limited's human resources planning operations are impacted by a variety of environmental factors and explained below 1. The first aspect, within the past ten years, Canada's economic environment has undergone substantial upheaval. Low salaries and high unemployment rates are the outcomes of the manufacturing slump. People's financial well-being has been further impacted by inflation, which has outpaced pay growth. Instead of consuming as much produced food, consumers are leading healthier and more economical lives. The recruiting efforts of NorOnt Limited at our Toronto and Vancouver offices have been influenced by this shift in customer behavior. The difficulty in hiring skilled people stems from the high cost of living compared to real income. Second, these environmental elements affect the corporation's overall decline. 2. The second aspect is the close feud that NorOnt Limited faces, both locally and globally, especially in the European market. As the market developed, rivals broadened the range of products they offered to directly rival NorOnt's product line. This environmental concern led to a decline in NorOnt Limited's market share. Also, Social issues have led to a fall in NorOnt Limited's market share. Customers are becoming more picky about packaged and prepared foods as a result of their growing health concerns. Additionally, rather than buying prefabricated goods, customers are more inclined to prepare their meals at home since they are familiar with the ingredients. 3. The third aspect of human resource planning is social factors. As people become more health-conscious, pre-packaged and pre-cooked food consumption is declining. Considering they have more control over the ingredients they use, many prefer to cook at home. NorOnt Limited's market share suffered as a result of this social dimension.

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4. The fourth aspect is the activities of National Distribution Limited, a subsidiary of NorOnt Limited, have been impacted by the worldwide environment. Due to the high cost of transportation, the trucking firm has found it difficult to remain cost-effective in light of the rising global price of petroleum products. This environmental issue might result in higher product costs or lower profitability for NorOnt Limited. 5. The fifth aspect of human resources planning is the consideration of legal issues. Despite NorOnt Limited's workers' lobbying for unionization, Wilson Brothers supports its non-union status. Employee loyalty and morale may suffer as a result of this possible environmental element, which may affect NorOnt Limited's HR planning. q4 . Identify and explain the various techniques for forecasting labor supply and labor demand. What can organizations do in the short run when they recognize a gap in which supply far exceeds demand? What could NorOnt do in this situation? A: There are numerous techniques for forecasting labor supply and demand (how to predict human capital needs and where to find human capital) (Belcourt and Podolsky, 2019). Both quantitative and qualitative methodologies are used in labor demand forecasting. The following are the quantitative techniques: 1. Trend analysis is a technique that looks at historical data to predict future employment requirements. It makes it possible to correlate shifts in personnel needs with shifts in sales or any other measure.(Belcourt and Podolsky, 2019). 2. Ratio Analysis: An additional quantitative technique that investigates the connection between an operational index and the necessary staffing level (Belcourt and Podolsky, 2019). A possible method would be to divide the total number of clients served by the total number of staff required to compute the operational index comparison. 3. A Time Series Model is a way of looking at things that are objectively known, like demand trends from the past. It can look at a lot more data than the standard rules-based approach. (Belcourt and Podolsky, 2019). Time series models use historical data to make predictions. 4. Regression Model: To forecast the long- and short-term performance of things like sales, regression models examine correlations between data points. (Teeboom, 2019) The comparison of several predictor variables is how the regression model varies from trend analysis. With the regression line, the regression results may be shown as a scatterplot. 5. Regression and structural equation modeling are comparable in that both involve the integration of several outcome variables into a single SEM model.(Belcourt and Podolsky, 2019) Qualitative demand forecasting techniques include the following: 1. A management survey is a method of obtaining information about the requirements of a company. This strategy might gather relevant data using a range of methods, such as discrete heuristics. (Belcourt and Podolsky, 2019) 2. Scenario Planning: A method for imagining possible future states in which the organizations could operate(Belcourt and Podolsky, 2019)This method offers planners a wide range of potential future demand situations, which makes it effective. Determining how much

a demand forecast may be surpassed before it becomes unsustainable is also helpful. (Belcourtand Podolsky, 2019) 3. Delphi Technique: An approach that combines participant feedback from earlier rounds with interrogations, typically conducted through questionnaires(Belcourt and Podolsky, 2019)This specific type of demand forecasting removes the requirement for face-to-face meetings, making it possible to get real input from stakeholders. 4. Similar to Delphi, this approach forecasts demand using the forecasts of experts. However, there are a few significant variations. First, a secret ballot is used to choose the forecasts. Second, rather than simply the individual who created the estimate, the entire group is seen as the owner of it. Ultimately, once everyone has completed their work, in-person meetings are a component of the nominal group approach. (Belcourt and Podolsky, 2019) In addition to techniques for predicting demand, there are also techniques for predicting supply. These are a few models of supply forecasting that are available. 1. In this method, experts' predictions are used to forecast demand, just like in Delphi. But there are some key differences. First, the forecasts are set by a secret ballot. Second, everyone in the group is considered the owner of the estimate, not just the person who made it. Finally, face-to-face meetings are part of the nominal group technique, after people have done their work. 2. Management Inventories: The inventories include all the details of a skills inventory plus manager history, appraisal information, and professional memberships. (Belcourt and Podolsky, 2019) 3. Markov Systems: With this strategy, medium-sized to large-sized enterprises can forecast the likelihood of staff turnover. This approach generates matrices that show how workers progress through their roles inside the company. (Belcourt and Podolsky, 2019) 4. Movement Analysis is a way of looking at how job changes or firings affect how people move around an organization.(Belcourt and Podolsky, 2019) This analysis allows HR planners to choose suitable candidates from both internal and external sources for positions requiring replacements. 5. Vacancy Model: This approach analyzes input and output at each pay level to determine how people move through the company. (Belcourt and Podolsky, 2019) If a shortage is identified for a short period, with supply exceeding demand, there are several options for an organization to address the issue. These include a hiring freeze; job-sharing initiatives; attractive exit packages; and naturally eliminating the surplus by attrition or voluntary redundancies (Belcourt et al., 2019). These options are generally seen as less damaging than layoffs and cuts. Therefore, it is recommended to investigate these options first. In this situation, NorOnt may choose to freeze hiring, encourage job-sharing among employees, reduce wages, or reduce working hours as a means to alleviate the shortage.

q5 . If the company ever had to downsize a plant how would you advise Monique Labelle, VP of Operations regarding what factors she would consider that might force her to make this decision? A: I would suggest that Monique Labelle think about the following elements that might make her make a choice: 1. To what extent will employment be lost? 2. Which individuals will be let go? 3. Would seniority, length of service, or some other factor be taken into consideration when deciding who is let go from the company? 4. What is the plan for executing the downsizing? 5. Would a variety of strategies be employed, such as early retirement, enticing severance compensation to induce leavers, or voluntary exits through attrition? 6. What legal ramifications will the choice to downsize have? 7. Have all the legal requirements—such as wrongful dismissal and human rights laws—been taken into account? 8. What is the plan for implementing the decision to downsize? How will the staff members be informed? ( Belcourt and Podolsky, 2019) q6 . What alternatives should the company explore before making its downsizing decision? A: The company may consider other options before deciding to reduce the workforce, such as reducing the number of working hours or work days. 1. Wages may be reduced. This may include the extension of salary reductions. (Belcourt and Podolsky, 2019) 2. Employee encouragement to buy company shares instead of salary increases or decreases. (Maurer, 1998) 3. Ensuring that workers take voluntary leaves of absence with full benefits and a job guarantee upon their return (not necessarily the same job that they hold)(Maurer, 1998) q7 . Which plant should the company downsize? Why? A: As Vancouver has the highest compensation rate and only produces one product there, the corporation should downsize its operation there (job sharing can be done for some jobs). Given that the facility is older and has outdated equipment, it might be able to sell some of its land (Vancouver real estate is very expensive, and the facility is situated on a waterfront with beautiful views). The money raised from the sale of the land might be utilized to expand the Calgary location. The Calgary facility offers space for expansion and has access to all of the items produced there. It is advisable to persuade staff members who are being laid off from the Vancouver site to stay on at the Calgary location q8 . Explain, in detail, the implications of the downsizing decision. A: Below are some of the downsizing effects: 1. Both those who let go and those who remained have experienced significant psychological anxiety. ( Belcourt and Podolsky, 2019)Companies should give special attention to employees who are let go since they frequently experience feelings of uncertainty, fear, and even

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resentment. Those who have been let go often want to know how the company is making them feel better about their circumstances and what their former coworkers are up to. 2. Reduced employee retention. Employees who stay with the organization may experience job insecurity and seek employment elsewhere, resulting in a loss of trust in the organization. 3. If workers are uncertain about their future employment, they are less likely to produce their best work. This may cause them to put more emphasis on finishing the task at hand than on giving it their all. 4. Management frequently places the demands of clients and employees in favor of the reduction process and efforts. Some managers may be so preoccupied with the process of downsizing that they neglect to take into account the needs of both staff members and clients. These needs could include things like providing counseling and outplacement services, informing staff members about the process and how they will be supported, and receiving assurances regarding employment status. 5. Downsizing can hurt employee confidence since it may exacerbate feelings of uncertainty about their place in the company. Employee sentiment toward the company may change as a result of this, as they may believe they are not receiving fair treatment and have been let down. 6. Possibilities for legal problems for workers. An employee can believe they were fired illegally or that they had discrimination against them. 7. The process of downsizing involves the departure of highly valuable workers from the organization. All employees are valuable to the company, but those who have been there for a long time, received training, and are familiar with the skills, knowledge, and abilities required for the position will be let go. 8. The impact on the organization's corporate social performance reputation( Belcourt and Podolsky, 2019)A company's reputation for corporate social performance is frequently one of its most valuable intangible assets.( Belcourt and Podolsky, 2019)Staff reductions negatively impact a company's corporate social responsibility; this is particularly true for firms that have increased their profitability before the reductions.( Belcourt and Podolsky, 2019)Many businesses fail to include a downsizing business strategy that addresses socially acceptable actions. As a result, the corporate reputation of many organizations suffers. 9. The connection between downsizing and employee safety( Belcourt and Podolsky, 2019) Reductions in size have a balancing effect that improves worker safety. First, there is a lack of job security among employees, which in turn causes a lack of job satisfaction, which in turn causes a decrease in safety compliance.( Belcourt and Podolsky, 2019) When employees fail to stick to safety procedures, their focus shifts towards accomplishing more tasks to be acknowledged as top performers. This behavior is driven by the perception that doing so will safeguard their employment. Furthermore, reduced safety motivation increases the likelihood of workplace accidents that remain undisclosed due to the apprehension of being let go. Reference 1. Barone, A. (2022, June 28).Derived demand definition. Investopedia. Retrieved October 6, 2022. https://www.investopedia.com/terms/d/derived_demand.asp

2.Belcourt, M. L., & Podolsky, M. (2019).Strategic Human Resources Planning (7th ed.). Nelson Education Ltd. 3. Maurer, R. (1998). Exploring alternatives to downsizing - queen's University at Kingston. Retrieved October 6, 2022. https://irc.queensu.ca/wp-content/uploads/articles/articles_l- maurer-exploring-alternatives-to-downsizing.pdf 4.Teeboom, L. (2019, March 8).The advantages of regression analysis & forecasting . Small Business - Chron.com. Retrieved October 5, 2022 https://smallbusiness.chron.com/advantages-regression-analysis-forecasting-61800.html

Hrm822 Assignment 2

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