Employment planning should be an important of a firm's strategic and HR planning process. Select one: True False
Breakeven Analysis
Break Even Analysis is a term used in business, cost accounting and economics. It refers to a point where the total cost incurred becomes equal to the total revenue earned. Break Even Analysis determines the number of units to be sold to earn the revenue required to cover the total costs. Total cost is a sum total of fixed and variable costs.
Process analysis
The term process analysis can be defined as breakdown of production process into different phases that converts inputs into output. A series of routine activities are incorporated using organizational resources with a view to achieve operational excellence.
Employment planning is the process in which we decide what positions the firm will have to fill and how to fill them. Employment planning should flow from a firm's strategic plans.
Employment planning is the process by which management ensures that the number and kinds of people in the firm are right and placed at right positions in the Organization, whether the people who have been selected are capable of effectively completing those tasks that will help the organization achieve its overall objectives.
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